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

To: zbyslaw owczarczyk who wrote (8611)	12/18/1998 9:31:00 AM
From: zbyslaw owczarczyk	Read Replies (3) \| Respond to of 18016

Company Press Release Newbridge Networks Forms Agreement for Collaboration with Nokia KANATA, ONTARIO--Newbridge Maintains Full Access to Vienna Voice Over IP Technology and Forges Collaborative Development Agreement With Nokia Newbridge Networks (NYSE: NN - news; TSE: NNC - news) today announced it has entered into a collaborative agreement with Nokia Corporation of Finland to work together in areas of mutual interest, including cooperative sales, marketing and product development efforts. The agreement will leverage the complementary strengths of both companies to deliver business-class IP capabilities and services over broadband ATM wireless networks. As part of this agreement, Newbridge will tender its shares representing its approximately 30 percent ownership position in Vienna Systems Corporation to Nokia Corporation. The transaction values Vienna Systems at approximately Cdn$135 million. The agreement with Nokia enables Newbridge to strengthen and extend its business relationships with Vienna Systems under Nokia's ownership, including full access to an expanding Vienna product line, which will continue to be sold through the worldwide Ne wbridge sales channel and branded in certain key markets under the Newbridge name. The collaborative development agreement will also focus on product development to ensure that the expanding family of IP telephony products is optimized for Newbridge broadband multi-services ATM networking solutions. This includes undertaking joint dev elopment to optimize IP telephony solutions for broadband wireline and wireless networks. ''Our core business is building carrier class, fully managed multi-services networks, including scalable, high-quality IP networks for delivering business class IP VPNs,'' said Alan Lutz, President and Chief Operating Officer, Newbridge Networks. ''This ne w arrangement with Nokia is good for Newbridge because it enables us to stay focused on our core business and to collaborate with Nokia on many new complementary fronts, including cooperative research and development and sales and marketing. It is parti cularly beneficial to both Nokia and Newbridge in that we both will be focused on selling and marketing an expanding IP telephony product line resulting from Nokia's association with Vienna Systems. ''The sale of Vienna is another sign of the growing dynamism and momentum of the Newbridge Affiliate program. The proceeds from this transaction give us the ability for even greater flexibility to invest in additional core Newbridge technology to increas e the depth and breadth of our product offering. The program and our commitment to it will continue to strengthen.'' Newbridge Networks designs, manufactures, markets and services networking solutions to organizations in more than 100 countries. The Company leverages its relationship with a growing family of Affiliate companies and strategic alliances with Siemens and 3Com Corporation to deliver seamless, end-to-end solutions. Newbridge customers include the world's 300 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 five continents. News and information are available at www.newbridge.com. Newbridge and logo are registered trademarks of Newbridge Networks Corporation. MainStreetXpress is a trademark used by the Siemens / Newbridge alliance for comprehensive solutions in broadband communication. No agency relationship, partnership, or joint ownership of a legal entity is to be inferred or implied by the term alliance. More Quotes and News: Newbridge Networks Corp (NYSE:NN - news; Toronto:NNC.TO - news) Related News Categories: computers, networking, telecom Help Copyright © 1998 Canadian Corporate News. All rights reserved. All news releases provided by Canadian Corporate News are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving ina public database, redistributing via a computer network or in a printed form. See our Important Disclaimers and Legal Information. Qu