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Technology Stocks : Netro Corp - (NTRO) -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (212)	9/14/1999 11:01:00 AM
From: Mark Oliver	Respond to of 792

I am new to Netro and still trying to sort out their market position. Reading through their web site, you see they are working with Lucent and they have been selling to ART, but the sale to ART seems to be for a 2 MBPS system being installed in Norway. I believe this was from April 99, so probably they could be working with ART in many other locations. Recently, I noticed ART was talking up a really fast network in San Jose (see PPR below). Here, they talk about 100 MBPS. So, what's the product from Netro? Are they also selling equipment to do 100 MBPS? Is ART going to be a showcase customer for Netro? Will the fact that ART has Qwest as a partner now sweeten the deal? Regards, Mark [Advanced Radio Telecom Closes $251 Million Equity Investment From Qwest Communications and Investor Group] ART Adds Customers to 100Mbps Network in San Jose Today BELLEVUE, Wash.--(BUSINESS WIRE)--Sept. 9, 1999--Advanced Radio Telecom Corp., a provider of 100Mbps Internet network service, today announced the completion of a $251 million equity investment from Qwest Communications International Inc. and a group of high-tech investment funds. "We are delighted to have Qwest as our single largest investor and strategic partner and will be working very closely with them over the years ahead as we build out our broadband wireless/fiber network," said Henry C. (Harry) Hirsch, chairman and CEO. "The technological sophistication of Oak Investment Partners and the other high-tech investors will also be a great help as we deploy our new metropolitan area networks in 40 of the top communications markets over the next few years. With this substantial investment we can accelerate our efforts to provide non-fibered businesses the bandwidth they need to compete in this communications driven world." On August 24, ART announced the launch of commercial 100Mbps Internet network services to businesses in San Jose, Calif., with the first customers being turned up on the network today. ART has been testing the network over the past several months using Triton Network Systems' Invisible Fiber(TM) wireless technology. A number of applications for the network were demonstrated recently in San Jose, including rapid file transfer, Cisco Systems' IP Voice and IP TV, and GE Americom's Bloomberg streaming video. With the closing of the transaction, the ART board of directors elected Bandel Carano, general partner at Oak Investment Partners and Marc Weisberg, senior vice president of corporate development at Qwest to ART's board. To maintain a seven-member board, two current ART directors -- Mark C. Demetree, chairman, president and CEO of U.S. Salt Co., and James C. Cook, senior vice president and partner, First Union Capital Partners -- have resigned. "I would like to take this opportunity to thank Mark and Jim for their outstanding service to the company over the years," said Hirsch. "The ART board has been very active in defining the direction of the company. Their participation will be missed. At the same time, I would like to extend a warm welcome to Bandel and Marc. Their expertise and advice will be invaluable as we capitalize on this very promising and exciting opportunity."