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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Glenn McDougall who wrote (13494)	9/30/1999 12:40:00 PM
From: zbyslaw owczarczyk	Respond to of 18016

(from my employer):KANATA, Ontario, ANDOVER, Massachusetts, September 30, 1999 ? Newbridge Networks (NYSE: NN; TSE: NNC) today announced the completion of its acquisitions of TimeStep Corporation, of Kanata, Ontario, and Northchurch Communications Inc., of Andover, Massachusetts. The acquisitions substantially expand the Newbridge? addressable market and greatly enhance the Company's ability to deliver comprehensive solutions that address the Internet protocol virtual private network (IP-VPN) and service provider intelligent edge markets. ?Newbridge now provides the most scalable IP-VPN solution available on the market today,? said Alan Lutz, president and chief operating officer. ?With more than 350 service provider customers engaged in building flexible and scalable broadband multiservice networks using the industry leading MainStreetXpress 36170 multiservice platform ? the largest selling ATM switch in the industry ? Newbridge enables service providers to competitively deliver differentiated business class IP-VPN services to their customers.? TimeStep shareholders have overwhelmingly approved the merger. The Northchurch transaction was unanimously approved by shareholders and closed on August 31. TimeStep and Northchurch now become a key addition to the Newbridge IP strategy. Associated with the completion of the mergers, Newbridge also announced the appointment of Tim Hember to the position of vice president, IP-VPNs. Mr. Hember was founder and president of TimeStep Corporation. Dave Sawyer, formerly president of Northchurch, has been appointed vice president, Classic IP Edge Products. Both will report to Jim Arseneault, executive vice president, IP and Internetworking Products Group, Newbridge Networks. Newbridge Networks designs, manufactures, markets and services wide area networking solutions for Internet service providers; local, long-distance, and wireless communications companies; cable television carriers; and corporate customers in more than 100 countries. The Company leverages its relationship with a growing family of Newbridge Affiliate companies and strategic alliances with numerous other networking companies to deliver complete, end-to-end solutions. Newbridge customers include the world?s 350 largest telecommunications service providers and more than 10,000 corporations, government organizations and other institutions. Founded in 1986, the Company employs more than 6,000 people on six continents. News and information are available at www.newbridge.com. - end - Newbridge and logo are registered trademarks of Newbridge Networks Corporation.