Joe, Some INTC capital at work here.........
Yipes to Obtain Optical Internet Infrastructure From Metromedia Fiber Network; 20-Year Agreement Valued at More than $125 Million
Business Wire - March 15, 2000 07:16
NEW YORK--(BUSINESS WIRE)--March 15, 2000--Yipes, the leading managed optical IP network provider, will obtain fiber optic infrastructure in major North American markets from Metromedia Fiber Network, Inc. (MFN) (NASDAQ:MFNX), the leader in deployment of optical Internet infrastructure within key metropolitan areas internationally. The agreement, valued at more than $125 million, will enable Yipes to bring ultra-high-speed Internet services to its business customers.
Yipes will lease local fiber infrastructure from MFN throughout the downtown and surrounding suburban areas of Boston, Philadelphia, Washington, D.C., Chicago, Los Angeles, San Francisco and Seattle. Using MFN's high-bandwidth optical Internet backbone, Yipes will be able to deliver an Ethernet-based, IP-over-fiber network that provides LAN-to-LAN service between business locations, and also high-speed, scalable Internet access ranging from 1 Mbps to 1 Gbps.
"MFN's optical Internet infrastructure allows managed network service providers like Yipes to offer Internet access at broadband-level capacity, enabling an entirely new class of bandwidth-intensive applications," said Nick Tanzi, president and chief operating officer of Metromedia Fiber Network. "Through this agreement, Yipes will gain access to unshared, fully scalable bandwidth at a fixed cost, allowing it to deliver today's cutting-edge business, engineering and multimedia services over the Internet."
"By utilizing MFN's optical Internet infrastructure, Yipes is able to extend our unique suite of IP-over-fiber network services with business quality of service to customers in additional metropolitan regions nationwide," said Jerry Parrick, CEO of Yipes. "This relationship will let us accelerate our deployment of LAN-to-LAN and LAN-to-Internet services for meeting the critical needs of businesses."
About Yipes
Yipes is the defining provider of a new class of managed optical
IP networks. Yipes leverages the elegance of native Ethernet
technology to provide service that is smoothly scalable (in 1 Mbps
increments) from 1 Mbps to 1 Gbps, enabling the next generation of
Internet services. Yipes' networks provide roughly twice the bandwidth
at 80 percent of the price of traditional data communications
services. Yipes is funded by The Sprout Group, Norwest Venture
Partners, Soros Fund Management, Chase Capital Partners/Hambrecht &
Quist, BancBoston Ventures/Robertson Stephens, NewSpeed Capital,
Extreme Networks, Intel Capital and Juniper Networks, Inc. Additional
information is available at www.yipes.com.
About Metromedia Fiber Network
Metromedia Fiber Network, the leading provider of end-to-end optical network and Internet infrastructure solutions, is revolutionizing the fiber optic industry. By offering virtually unlimited, unmetered bandwidth at a fixed cost, the Company is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Metromedia Fiber Network is extending metropolitan optical networking infrastructure to the end user in strategic top-tier markets, enabling its customers to implement the latest data, video, Internet and multimedia applications. In addition to its current expansion in 51 cities in North America, Metromedia Fiber Network is establishing an international presence with planned fiber optic network builds in 16 cities throughout Europe.
Together with its subsidiaries, AboveNet Communications, Inc., a leading provider of co-location and Internet connectivity solutions, and PAIX.NET, Inc., the leading neutral Internet Exchange, Metromedia Fiber Network is unleashing the full potential of the Internet. The combined company facilitates the explosive growth of e-commerce and advanced Internet applications by delivering secure, reliable and scalable optical networks and IP services to Internet content and service providers, carriers and enterprise users worldwide. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.
MFNX seems to be doing very well in writing long term data hauling contratcts in the US. With their Abovenet it seems like they could use some SAN/WAN. GBLX may be slower to take off, but those Asian routes may come to be quite the ticket in a few more years and a good fit with MFNX. I have some of both. |
