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

To: Peppe who wrote (11037)	4/30/1999 6:31:00 AM
From: Glenn McDougall	Respond to of 18016

*****ON TOPIC*******:-) Newbridge on new track Acquiring new technology By SUSAN TAYLOR -- Ottawa Sun While recent takeover rumours have fuelled stellar gains for Newbridge Networks stock, the firm has been busy with its own shopping spree. "The next transactions that we do will not be divestitures," said president Alan Lutz yesterday. "We are acquiring technology that fits in with the overall game plan." In coming months, the Kanata-based company will lift the veil on a "new Newbridge" and strategies to expand the network equipment firm's product line. Newbridge will likely provide details before the end of June on one transaction that's now underway in wireless networking. News of an entry into the Internet Protocol network sector could come in July. "Bet the store" "You can't bet the entire store on ATM," Lutz said. Newbridge made the first move beyond its flagship Asynchronous Transfer Mode (ATM) technology in April, with a $60-million investment in a joint venture called TeraBridge Technologies, which develops and sells tools that push voice and data traffic over a single network. Lutz's speech yesterday, to members of the Ottawa Centre of Research and Innovation, marks a one-year anniversary of his first meeting with Newbridge directors. Lutz laid out his blueprint for change, which includes a 100-day plan that's seen some dramatic overhauls. Bold, precise Changes are evident from the company's board of directors, which shrank with the removal of three stalwart members, to staff ID cards which now carry corporate attributes encouraging employees to be bold, precise and take action. "We're a small to mid-sized company. We can only succeed against the big boys like Nortel and Lucent and Cisco ... on the basis of being more agile and being a little more clever and picking our battle points with a little bit more sophistication." Lutz showed equal optimism for Newbridge's upcoming fourth-quarter results, expected to be reported June 1. Sales from ATM technology will surpass the 35% increase recorded between the second and third quarter, he said. "I'm very heavily weighted in Newbridge's performance," Lutz said. "I also went out and bought shares personally to give a signal that I was willing to not only commit my mind, but part of my bank account to the company." Newbridge stock closed on the TSE yesterday at $53.05.