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Technology Stocks : Williams Communications Group - WCG -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (325)	1/25/2000 11:10:00 AM
From: pat mudge	Read Replies (3) \| Respond to of 609

Here's the text: January 25, 2000 11:00 Williams Communications to Receive $200 Million in Network Services Transaction With Teleglobe, Inc.; Agreement With Williams Communications Gives Teleglobe Nationwide U.S. Network TULSA, Okla., Jan. 25 /PRNewswire/ -- The network unit of Williams Communications (NYSE: WCG), an international provider of telecommunications services and products for the carrier marketplace, has signed an agreement that has a gross revenue value of $200 million with Teleglobe, Inc., a leading supplier of international broadband services with the most extensive global Internet backbone network. Under the agreement, Teleglobe will receive fibers on 14,000-route miles of Williams' United States fiber-optic network as well as ongoing network services. "This transaction has far-reaching, positive effects for both companies," said Howard E. Janzen, president and chief executive officer of Williams Communications. "It demonstrates Williams' industry leadership and expertise in creating and operating a next-generation nationwide broadband network. By gaining access to Williams' award-winning network and services, Teleglobe has in one stroke established a coast-to-coast network in the U.S." The fibers Williams Communications is providing will connect Teleglobe to 30 key markets across the United States, including Atlanta, Boston, Chicago, Dallas, Denver, Houston, Los Angeles, Miami, New York, San Diego, and Washington D.C. In addition, Williams is providing Teleglobe with long-term backhaul services from international cable landing sites on the West Coast to Williams' backbone network. As part of the 20-year agreement, Williams will provide Teleglobe with ongoing network maintenance and collocation services. "This agreement with Williams Communications significantly extends our network, allowing us to provide broadband services to all key United States and Canadian cities, forming a vital link with our Asian, Canadian, transatlantic and Pan-European networks. This transaction enables Teleglobe to reduce transmission costs and strengthen its position as a leading provider of global broadband services," said Charles Sirois, chairman and chief executive officer of Teleglobe, Inc. Williams Communications' network, currently the fourth largest in the United States with 26,000 route miles of fiber deployed, is planned to total 33,000 route miles connecting 125 cities by the end of this year. The fully integrated architecture of the Williams Multi-Service Broadband Network(TM) couples ATM core switching with advanced optical networking technologies to provide carriers with data, voice, video and Internet services. Williams Communications has earned widespread industry recognition for its network architecture -- most recently the International Engineering Consortium's InfoVision award.