In VRIO, NITE QWST ) (NSOL reports Feb. 10, confirmed)watching AMTD,JBOH,NDB,MSPG,GNET watch the banks PVN.. flying. WM looks good too
qwst awarded additional 60$ million contract from vrioBW-QWEST AWARDED ADDITIONAL $60 MILLION CONTRACT FROM VERIO INC.
DENVER (Jan. 21) BUSINESS WIRE -Jan. 21, 1999-- Verio to Provide
Faster, Higher Capacity Internet Access to
Rapidly Expanding Customer Base
Qwest Communications International Inc. today announced it has received
an additional $60 million commitment for high-speed, broadband capacity
from Verio Inc., a leading provider of comprehensive business Internet
services. The agreement builds upon the companies' original 15-year,
$100 million contract and extends the term of Verio's minimum
commitment from 7 to 10 years.
The extended contract and higher volume of service commitment provides
Verio with an improved price. In addition, the contract provides Verio
with the flexibility to deploy circuits from DS-3 (64 kilobits per
second) to multiple OC-48 (2.4 gigabits per second) as customer needs
expand. Verio's rising customer base - increased dramatically by the
105,000 subscribers the company added with the recent close of its
Hiway Technologies Inc. acquisition - now exceeds 260,000. This rapid
growth, and the increasing applications driving the needs of business
customers for high-speed transmission, played key roles in Verio's
decision to increase its commitment.
"We are pleased to expand our business relationship with Verio," said
Gregory M. Casey, senior vice president of wholesale markets for Qwest.
"Verio is one of the fastest growing providers of enhanced Internet
services, and because of the advanced nature of our network, Qwest can
provide them with the convenience and flexibility of bandwidth on
demand."
As Verio's business and customer base grow, the company is converting a
significant portion of its network to Qwest's high- speed fiber optic
network. Verio now has exceeded its year-end target to activate 10,000
miles on the Qwest fiber network, and has in excess of 12,000 miles of
capacity in service. Currently, approximately 50 percent of Verio's
traffic is carried on the Qwest network, marking significant progress
in the integration of Verio's nationwide network operations. Verio
expects to continue expanding its network capacity as Qwest nears
completion of its nationwide network.
"The performance and cost competitiveness of the Qwest fiber is
compelling, especially at OC-3 (155 megabits per second) and higher
speeds," said Chris DeMarche, chief technical officer for Verio.
"Qwest has been a valuable partner to us in providing capacity to keep
up with the rapid growth of our IP network, which is ranked in the top
10 in the country in speed and size." About Verio Inc.
Verio Inc. (NASDAQ:VRIO) is a leading provider of comprehensive
business Internet services - including broadband connectivity, virtual
private networks, Web-hosting solutions and e-commerce - with an
emphasis on serving the small and mid-sized business market. Since its
inception in March 1996, Verio has rapidly established a global
presence through the acquisition, integration and growth of independent
Internet providers with a business customer focus. Verio supports its
operations with highly reliable and scalable national infrastructure
and systems including a facilities-based Tier One national network.
Verio delivers locally-based sales and engineering support in 41 of the
top 50 U.S. markets under the Verio brand name and provides Web-
hosting services to customers in more than 170 countries. For more
information on Verio, visit the company's Web site at www.verio.com
About Qwest
Qwest Communications International Inc. (Nasdaq: QWST) is a leader in
reliable and secure broadband Internet-based data, voice and image
communications for businesses and consumers. Headquartered in Denver,
Qwest has more than 8,000 employees and 80 sales offices in North
America, Europe and Mexico. The Qwest Macro Capacity (SM) Fiber
Network, designed with the newest optical networking, will span more
than 18,500 route miles in the United States when it is completed in
mid-1999. In addition, Qwest and KPN, the Dutch telecommunications
company, have a venture to build and operate a high-capacity European
fiber optic, Internet Protocol-based network that has 2,100 miles today
and will span 9,100 miles when it is completed in 2002. Qwest also has
nearly completed a 1,500-mile network in Mexico. This release may
contain forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual
future events or results. Readers are referred to the documents filed
by Qwest with the SEC, specifically the most recent reports which
identify important risk factors that could cause actual results to
differ from those contained in the forward-looking statements,
including potential fluctuations in quarterly results, dependence on
new product development, rapid technological and market change, failure
to complete the network on schedule and on budget, financial risk
management and future growth subject to risks, Qwest's ability to
achieve Year 2000 compliance, adverse changes in the regulatory or
legislative environment, and satisfactory negotiation and execution of
definitive documentation. Except for the historical information
contained herein, certain matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties, including but not limited to fluctuations in operating
results, additional capital requirements, competition, integration of
acquisitions and implementation of network infrastructure. Readers are
also encouraged to refer to Verio's reports from time to time filed
with the Securities and Exchange Commission, including the Company's
Current Report on Form 8-K filed on July 7, 1998, and the Company's
Current Report on Form 8- K filed on October 28, 1998, for a further
discussion of Verio's business and risk factors that may affect
operating and financial results and the financial information provided
herein with respect to recent acquisitions. The Qwest logo is a
registered trademark of Qwest Communications International Inc. in the
U.S. and certain other countries.
-0- eb/ny*
CONTACT: Qwest Media Contact:
Qwest Communications
Diane Reberger
(303) 992-1662
diane.reberger@qwest.net
or
Qwest Investor Contact:
Qwest Communications
Lee Wolfe
800-567-7296
IR@qwest.net |
