Vancouver-based 360networks' global fiber optic project will continue after the company confirmed it is in full compliance with all covenants under the company's $1.2 billion senior secured credit facility. By the end of 2000, $350 million had been drawn, and the rest is earmarked for the fiber optic network.
No one's talking. San Jose-based JDS Uniphase, considered a strong suitor in the maybe/maybe not sale of Lucent's Optical Fiber Solutions unit, released its third-quarter results today. It will lay off 5,000 and consolidate some facilities in a global restructuring. JDS' timing (releasing its results with Lucent's) led observers to speculate that a sale announcement was pending.
Lucent Technologies' second-quarter results reflected slow customer spending and its restructuring efforts. The company also calls talk of selling its fiber optic unit "rumors." "In terms of the fiber business, there's no new news here," Lucent spokeswoman Mary Ward told CEDaily. "When we make a decision, we will announce it.
Concurrent Computer Corp. found itself a Canadian distributor for its VOD systems, and sold five of its MediaHawk video servers to American school districts and universities. Its exclusive agent in Canada is TVC Canada, a long-time distributor and integrator of broadband products and services, formerly known as Comsource Broadband Technologies Corp.
Philips Digital Networks and Be Here Corp. teamed on a set-top box ITV application lets sports fans and other viewers control TV camera angles. The Philips/Be Here Picture-In-Picture Navigable Visual Content uses Be Here's single-camera immersive video capture and playback tech in ITV. The technology lets sports fans independently navigate panoramic Picture-in-Picture video via remote control, ...
Luminous Networks Inc. will partner with Photonic Bridges on a sales and distribution deal in China. Luminous also will supply China Netcom Corp. with a metropolitan area network platform. The deals are part of Luminous' effort to expand in the Chinese market. Under the first agreement, Photonic will be responsible for marketing, distributing, launching and customer service for Luminous' optica...
Scientific-Atlanta just shipped its six millionth Explorer advanced digital set-top box. The recipient: S-A's long-time partner Time-Warner Communications in Orlando. S-A sent the Explorer 2100 to TWC to commemorate the cable company's decade of work in ITV. The first interactive TV trial in Orlando eight years ago led to today's burgeoning market, S-A says.
So how do you want your broadband stats? South Korea reportedly leads in the world broadband Internet connections, according to a study by the Organization for Economic Cooperation and Development. The country's 10 connections per 100 people beat four per 100 in Canada and three per in the united States.
On the heels of its third-quarter warning last week, Cisco Systems got word its shareholders had filed a class action lawsuit. The lawsuit, filed in the U.S. District Court for the Northern District of California, alleges Cisco manipulated customers by financing them, but made it contingent upon buying large amounts of Cisco products.
Not that it's such a surprise, but Lucent Technologies reportedly has received five bids for its optical fiber unit. The sale could bring up to $6 billion for the cash-strapped Lucent. Citing unnamed sources close to the issue, both The Wall Street Journal and The New York Times report that Alcatel SA, Pirelli SpA, Furukawa Electric Co.
Citing tighter capital markets and an overall economic slowdown, Nortel Networks Corp.'s losses grew to $2.58 billion for first-quarter from $730 million same time last year. It also will cut 5,000 more jobs by mid-year, for a total of 20,000 since Dec. 31. Revenues were $6.18 billion for the quarter, down from $6.
Following through on its warning earlier this week, Convergent Communications Inc. filed Chapter 11 bankruptcy yesterday along with its subsidiary, Convergent Communications Services Inc. In a statement on its home page, Convergent elaborated: "In light of the constrictive capital markets and the company's inability to raise required financing, (Convergent) filed a voluntary petition for protec...
Amid the generally depressing industry results during this financial week, a study offers a beacon of hope to foundering network equipment makers — or at least, some of them. Metro Networks: The New Hotspot, from Infonetics Research, says the metro network market is hopping and will only grow stronger.
Tektronix Inc. has partnered with Telogy Inc. on an instrumentation trade-in program. Under the deal, Tektronix customers can trade in used test instrumentation when they purchase the company's new equipment. Telogy purchases and manages the used trade-in assets, and refurbishes and resells the equipment.
Regulate or rely on market forces? It's telecom's turn to look at the question and Gartner Inc.'s Dataquest Inc. analysts just released their two cents' worth. The research group called on President Bush to consider a market approach to policy. While spectrum auctions bring in billions of dollars, which come from carriers and consumers and go to programs, Dataquest says, the funds could be bett...