360networks and Universal Access Sign Network Services Agreement Worth Up To $25 Million
March 27, 2001 07:00:00 AM ET
CHICAGO and VANCOUVER, March 27 /PRNewswire/ -- Universal Access Inc. UAXS, a leading provider of network infrastructure services, and 360networks (Nasdaq: TSIX and TSE: TSX), a global provider of network services, today announced an initial agreement enabling both companies to provide more broadband network connections to telecommunications, Internet and application service providers in North America. The initial phase of the agreement is valued up to US $25 million. Upon completion of the initial phase, both parties have the opportunity to continue to expand their relationship.
Today's agreement will allow Universal Access to purchase capacity on 360networks' global network. The long-haul connectivity provided on this network will enable Universal Access to provide its carrier customers with network services on major routes between its Universal Transport Exchange(SM) (UTX(SM)) interconnection facilities.
As part of the agreement, 360networks will obtain access through Universal Access' UTX interconnection facilities to capacity in metropolitan cities such as Chicago, Los Angeles, Miami and New York. 360networks' presence in the UTX facilities, coupled with Universal Access' Universal Information Exchange(SM) (UIX(SM)) databases, will allow 360networks to generate additional revenue from Universal Access' carrier and ISP customers.
"360networks and Universal Access are both industry pioneers with complementary services," said Robert Pommer, Universal Access vice chairman and president of client services. "Universal Access' unmatched expertise in rapid provisioning of high-speed circuits will accelerate 360networks' ability to expand into key local markets. We believe that this is just the tip of the iceberg in forming a strong and ongoing relationship with 360networks."
"The agreement will allow Universal Access to meet the long-haul needs of its customers by providing capacity on 360networks' seamless, scalable network," said Jimmy Byrd, chief operating officer of 360networks. "This is a synergistic agreement that expands the capabilities of both 360networks and Universal Access. By leveraging each other's strengths, Universal Access and 360networks can deliver customers enhanced access to services more quickly and cost-efficiently. We look forward to growing our relationship well beyond the initial scope of this agreement."
About 360networks
360networks (Nasdaq: TSIX and TSE: TSX) offers network services to telecommunications and data-centric organizations. 360networks is developing one of the largest and most technologically advanced fiber optic mesh networks in the world. By mid-2002, the planned network will span 143,000 kilometers (89,000 miles) and link more than 100 major cities with terrestrial routes and undersea cable systems joining North America, Europe, South America and Asia. 360networks is also developing nearly 3.7 million square feet of network facilities. More information is available at www.360.net .
About Universal Access
Universal Access is the only company capable of interconnecting thousands of telecom networks so telecommunications, Internet and application service providers can speed up the delivery of voice and data services worldwide, helping them generate revenues faster while minimizing operational and capital expenditures. Universal Access' combines its unique and powerful database that provides a birds-eye view of virtually every major supplier's network and its strategically positioned interconnection facilities to supply complete turnkey solutions known as UniversalNET(SM) solutions. UniversalNET enables service providers to quickly and more efficiently control procurement, management, billing and operations of high capacity private line circuits from multiple vendors. Universal Access is headquartered in Chicago, Illinois and has regional offices in Herndon, Virginia, Santa Clara, California, London, England, and Amsterdam, the Netherlands.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
This release contains forward-looking statements based on current expectations, forecasts and assumptions, including but not limited to statements regarding the intention to accelerate provisioning times, increase sales to clients including 360networks, purchase services from suppliers including 360networks and optimize circuit routing by using UIX databases and UTX facilities. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties including, without limitation, potential inability to maintain and expand UIX databases, difficulties or delays in provisioning circuits, the fact that clients including 360networks may withdraw an order with minimal liability before accepting a circuit, the difficulty of attracting new clients or increasing sales to existing clients, potential shortfalls in purchase commitments, difficulties or delays in building or operating UTX facilities and deploying optical switches, and the need to raise additional capital. For other risks and uncertainties applicable to the Company's business refer to the Company's Securities and Exchange Commission filings. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this paragraph.
360networks -- Forward looking statements: This document may contain statements about expected future events and financial results that are forward looking in nature, and, as a result, are subject to certain risks and uncertainties. Scheduled completion of network segments may not be met because of factors, such as construction, permitting or licensing delays. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
© 2001 PRNewswire
news.moneycentral.msn.com |
