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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: SecularBull who wrote (4063)	1/20/2000 9:07:00 AM
From: TechMkt	Respond to of 15615

It keeps growing, and growing, and growing... Fez __________________________ Thursday January 20, 8:36 am Eastern Time Global Crossing to buy Ciena equipment NEW YORK, Jan 20 (Reuters) - Telecommunications equipment maker Ciena Corp. (NasdaqNM:CIEN - news) said on Thursday it signed a deal to provide optical networking equipment for the expansion of Global Crossing Ltd.'s (NasdaqNM:GBLX - news) network in the United Kingdom. Global Crossing, which is building undersea communications networks, agreed to buy Ciena's MultiWave Sentry systems, which boost the capacity of fiber optic networks, to support regional and international Global Crossing customer traffic, Ciena said in a statement. Terms of the purchase were not disclosed. Linthicum, Md.,-based Ciena said Global Crossing bought the equipment under an existing contract Ciena has with Racal Telecom, which was acquired by Global Crossing in November. Ciena's stock was hit hard in 1998, trading as low as 8-1/8 in October of that year, as the company suffered a series of setbacks, including the loss of AT&T Corp. (NYSE:T - news) as a potential customer. The company also saw its proposed merger with rival Tellabs Inc. (NasdaqNM:TLAB - news) fall apart. Shares of Ciena closed at 68-1/4 on Wednesday on the Nasdaq stock market.