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LIGHTLOGIC
RAISES $57.5 MILLION FOR ITS OPTOELECTRONIC COMPONENTS
LightLogic, a start-up
developing optoelectronic components and subsystems, raised $40
million in a third round of venture financing and secured an
additional $17. 5 million in credit.
LightLogic, which is based in Santa Clara, California, said
it is developing a new class of active optoelectronic components
based on automated, planar micro-manufacturing.
Its initial micro-optical modules and integrated
transponder products are targeted at OC-192 speeds and above.
Investors include Cisco Systems, Siemens Mustang Ventures,
Infineon Technologies, Weiss, Peck & Greer Venture Partners,
Bessemer Venture Partners, HRLD Venture Partners, Infinity
Capital, Ridge Ventures, Dassault Developpement, Viventures and
Western Technology Investment.
http://www.lightlogic.com/
LightLogic, May 18,
2000
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TELICA
SECURES $50 MILLION FOR ITS BROADBAND
PACKET SWITCHING SYSTEM
Telica,
a start-up developing broadband packet switching systems,
secured $50 million in second round venture financing.
The company said it will leverage its expertise
in SS7 switching and Intelligent Network architectures to offer multi-service
broadband switching systems for ILECs, CLECs and Next Generation
service providers. Product
plans have not been disclosed.
Investors include Oak Investment Partners, Bessemer
Venture Partners, Nassau Capital, Prism Venture Partners and
Highland Capital Partners. The
company is based in Marlboro, MA. http://www.telica.com/news/05172000.shtml
Telica, May 18, 2000
INFONET
INVESTS $350 MILLION IN GLOBAL EXPANSION
Infonet Services Corp.,
a provider of communication services to multinational
corporations, announced plans to invest $350 million over the next
year to accelerate its network expansion.
Earlier this month, Deutsche Telekom an Infonet finalized an
agreement that allows Deutsche Telekom to sell Infonet's full
portfolio of global voice and data communications services
worldwide. The deal
was valued at up to $1 billion over 3 years.
Infonet now plans a global rollout of ATM services to
support its corporate clients.
The company plans to have 20 Gbps of managed network
capacity by the end of its fiscal year.
http://www.infonet.com
Infonet, May 18, 2000
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Infonet's
network uses over 600 Nortel passport switches and Cisco
routers. The
company also has 7,000 customer routers under management.
Infonet's local partners also include SBC, Telia, KPN
and Swisscom.
LUCENT
TO EXPAND ITS EUROPEAN OPERATIONS
Lucent Technologies
announced plans to expand its European workforce by more than
2,000 people in the next six months.
The company has recently launched several new initiatives
in Europe, including new developments in Italy for 3G wireless; an
expansion of its fiber manufacturing facility in Denmark, a US$150
million expansion of its optical networking facility in Ireland;
and the establishment of an optical networking center of
excellence in Germany. http://www.lucent.com/press/0500/000518.coa.html
Lucent Technologies, May 18, 2000
NETS
SELECTS LUCENT'S WAVESTAR DWDM FOR ITS EUROPEAN BACKBONE
NETs,
a greenfield carrier's carrier, selected Lucent Technologies'
WaveStar OLS 400G DWDM platform for an expansion of its European
optical network covering Benelux, Holland, Germany, France,
Switzerland and Spain. NETs
is a subsidiary of Tiscali, an Italian operator.
Financial terms were not disclosed.
http://www.lucent.com/press/0500/000518.nsb.html
Lucent
Technologies, May 18, 2000
LUCENT
SIGNS US$600 MILLION
CONTRACT WITH EGYPT'S EGYNET
Lucent
Technologies announced a multiyear contract with the Egyptian
Company for Networks (EgyNet) valued at up to US$600 million.
The deployment covers Lucent's CBX 500 ATM switches,
Stinger DSL access concentrators and CellPipe router/bridges,
optical fiber and broadband wireless access equipment.
http://www.lucent.com/press/0500/000518.nsa.html
Lucent Technologies, May 18, 2000
NOKIA
AND TRW ENTER 3G PARTNERSHIP
TRW Space &
Electronics Group and Nokia Networks announced a partnership
covering the development of current and third generation (3G) base
stations as well as Internet Protocol Radio Access Networks
(IP-RAN), the next step in 3G architecture.
The companies already were partners in developing cellular
transmission products. http://www.trw.com
http://press.nokia.com/PM/781616.html
Nokia, May 18, 2000
TAIWAN'S
KG TELECOM ACTIVATES ITS GPRS PLATFORM
KG Telecom, a PCS
operator in Taiwan with 2 million subscribers, activated a GPRS
(general packet radio service) wireless platform for mobile
broadband Web service. The
service will support packet data transmission at up to 115 kbps.
KG Telecom, May 18, 2000
AVICI
SYSTEMS FILES FOR IPO
Avici Systems, a
developer of terabit switch routers, filed SEC paper for an
initial public offering (proposed NASDAQ symbol is AVCI). http://www.avici.com/
Avici Systems, May 18, 2000
ADC
REPORTS SALES OF $709 MILLION, UP 55% -- SEARCH FOR NEW CEO
ADC reported quarterly
sales of $709 million, up 55% over the same period last year.
Net income was $94 million, or $0.29 per diluted share.
The company attributed the strong report to a 93% growth in
Broadband Connectivity sales combined with 17% growth in Broadband
Access and Transport sales and 29% growth in Integrated Solutions.
http://www.adc.com
ADC, May 18, 2000
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Consensus
estimates for ADCT were $0.26 p/s
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Separately,
ADC announced that William J. Cadogan, chairman and CEO,
intends to retire after a transition to a new leader.
The company is currently searching for a new CEO.
CIENA
REPORTS SALES OF $185.7 MILLION, UP 66%
Ciena reported
quarterly sales of $185.7 million, up 66% over the same period
last year and up 20% over the preceding quarter.
Net income for the second quarter was $18.4 million, or
$0.12 per diluted share. The
company recognized sales from 22 optical networking customers
during the quarter. Ciena
noted that its MultiWave optical core switch is now in seven
carrier trials. http://www.ciena.com
Ciena, May 18, 2000
SYCAMORE
REPORTS SALES OF $59.2 MILLION – FIRST PROFITS
Sycamore Networks
reported quarterly sales of $59.2 million and net income of $11.7
million or $0.05 per share. The
quarter is the first time Sycamore was profitable on an actual net
income basis. http://www.sycamorenet.com/
Sycamore Networks, May 18, 2000
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