AT&T Signs Agreement to Acquire Netstream - A Major Initiative to Become the Broadband Leader in Brazil's Business Communications Services Market.SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil--(BUSINESS WIRE)--Aug. 24, 1999-- AT&T today announced an agreement to acquire Netstream, an emerging Brazilian carrier with an IP-based network providing advanced services to business customers over its own facilities in Sao Paulo, Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r and Belo Horizonte Belo Horizonte (bəl'rēzôN`tĭ) [Port.,=beautiful horizon], city (1996 pop. 2,091,770), capital of Minas Gerais state, E Brazil. .
AT&T will acquire Netstream from Promon Tecnologia S.A., Brazil's leading engineering, design and construction management firm. In addition to its initial investment of approximately $300 million, AT&T will continue to expand Netstream's network to serve business customers in the major business centers of Brazil. "Today's agreement follows closely on our recently announced investments in Japan and Canada, and is another step by AT&T to better serve multinational customers by extending our network seamlessly around the world," said John Zeglis, president of AT&T. "Through our acquisition of Netstream, we are extending that reach to and through Brazil, the largest center of economic activity in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. ." Through Netstream, AT&T will offer broadband technology broadband technology Telecommunications devices, lines, or technologies that allow communication over a wide band of frequencies, and especially over a range of frequencies divided into multiple independent channels for the simultaneous transmission of different signals. to business customers throughout Brazil to enhance and accelerate the delivery of advanced communications services, including voice, data, Internet and electronic commerce services. Netstream, a telecommunications company See telecom company. , initiated operations in Brazil in October 1998; installing a network based on optical ATM/IP technology in the key cities of Brazil. Netstream already has more than 400 customers and 160 connected buildings, and in excess of 30,000 km of fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber . Coupled with AT&T's global reach and powerful brand, Netstream will provide business customers with significantly improved communications services in Brazil. The acquisition of Netstream will continue AT&T's entry into local business markets in the region, which began with the investment of Alestra in Mexico. Alestra, AT&T's venture with Alfa and Bancomer, is the leading new long distance carrier in Mexico delivering global communications services to business and high-end residential customers. "We believe this is good news for business customers in Brazil and the region. We will contribute to the fast changing telecom environment, bringing additional competition, providing customers with more and better choices at competitive prices and providing next generation technology," said George Foyo, president and managingan market place." Brazil is the largest b&T can provide business customers advanced, seamless, end-to-end services linked to the AT&T/BT Global Venture for regional and international connectivity to over 100 cities around the world. "AT&T's investment in Netstream is a significant initiative that strengthens the global venture's ability to support the seamless, transborder communications needs of multinational customers to and from Brazil," said David Dorman David W. Dorman (born 1954 in Georgia) is an American Telecommunications executive, currently serving on the board of Motorola.[1] In 2000, he took on the task of rebuilding AT&T, whose total stock value had fallen from a high of $110 billion to a low of less than , chief executive officer of the AT&T/BT Global Venture. As a Brazilian operating entity, Netstream will continue to be managed by its current local leadership, which will work closely with AT&T global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. . "The Netstream project is very special to Promon. As engineers and entrepreneurs, we have dedicated our best efforts and abilities to make it a success. Its sale to a communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. of the magnitude of AT&T is a natural consequence of its evolution and represents prospects of great success for Netstream in the future," said Carlos Siffert, chief executive officer Promon Tecnologia S.A. Promon Tecnologia S.A. is one of the leading Brazilian corporations providing engineering solutions to the telecommunications, energy, petroleum, chemical, petrochemical, transportation and manufacturing industries manufacturing industries npl → industrias fpl manufactureras manufacturing industries npl → industries fpl de transformation . During its 40 years of operation, Promon has been engaged in large-scale telecom projects and enterprises such as hydroelectric and thermoelectric power Thermoelectric power can refer to two things:
Promon Tecnologia S.A. ended 1998 with operating revenues of R$959 million, ranking it amongst the top 100 national conglomerates (as rated by the annual statement of Gazeta Mercantil and the list of Best & Greatest from Revista Exame). Promon is headquartered in Sao Paulo, Brazil and has offices in Rio de Janeiro, Campinas, Brasilia, Manaus and Bogota, Colombia. For more information about Promon Tecnologia S.A., pleasement. With annual revenues of more than $53 billion and more than 108,000 employees, AT&T provides services tork and the largest digital wireless network in sourcing, consulting and networking-integration network of tomorrow. For more information on AT&T, visit our web site on http://www.att.com. |
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