Advanced Radio Telecom to Provide High-Speed Data Access to CarrAmerica Buildings Nationwide.BELLEVUE, Wash.--(BUSINESS WIRE)--July 12, 1999-- Agreement gives Advanced Radio Telecom access to more than 280 buildings in 14 metropolitan markets Advanced Radio Telecom Corp. (Nasdaq:ARTT ARTT, n.pr See asymmetry/range of motion alteration/tissue texture alteration/tenderness. ) today announced its agreement with CarrAmerica Realty Corporation (NYSE NYSE See: New York Stock Exchange :CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ) that gives ART access to CarrAmerica's entire portfolio of buildings in 14 major metropolitan areas across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , allowing ART to offer high-speed Internet See broadband. access services to tenant businesses. CarrAmerica and its affiliates own a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in approximately 254 operating office properties and have 40 office buildings under construction in key growth markets. These markets include Atlanta, Austin, South Florida, Chicago, Dallas, Denver, Los Angeles/Orange County, Phoenix, Portland, Ore., Salt Lake City, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Seattle, and metropolitan Washington, D.C. ART currently has signed access agreements with a number of individual CarrAmerica properties in the Phoenix metropolitan area, and plans to acquire additional properties for its build out of 100Mbps Internet access service in Silicon Valley. (see ART press release, June 8, 1999). "CarrAmerica's commitment to offering its tenants access to the latest technology is a perfect fit with ART's vision," said Henry C. (Harry) Hirsch, ART chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Combining state-of-the-art infrastructure installed in CarrAmerica's properties with ART's high-speed access service, businesses across the country can enjoy the tremendous productivity benefits of broadband communications." ART recently announced that Qwest Communications International Inc. (Nasdaq:QWST), and a group of high-tech investment funds syndicate leader Oak Investment Partners, MeriTech Capital Partners, Advent International, Accel Partners, Brentwood Venture Capital, Worldview world·view n. In both senses also called Weltanschauung. 1. The overall perspective from which one sees and interprets the world. 2. A collection of beliefs about life and the universe held by an individual or a group. Technology Partners, Bessemer Venture Capital, Adams Capital Management -- have signed a definitive agreement for a $251 million equity investment that will expedite the deployment of ART's high-speed wireless network. ART plans to build metropolitan-area broadband wireless networks in 40 of the top 50 U.S. markets over the next few years. "With the explosion of the Internet and data communications, providing access to the broadband, high-capacity networks gives our customers a competitive advantage," said Phil Hawkins, CarrAmerica chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We are committed to providing our tenants with a variety of options to fulfill their data communications needs, and bringing fixed wireless access to the table is an important value-added amenity." About ART Advanced Radio Telecom, Corp. (Nasdaq:ARTT), headquartered in Bellevue, Wash., is a provider of broadband wireless access to businesses at speeds up to 100Mbps. ART currently owns and operates metropolitan area networks in Seattle, Portland, Ore., and Phoenix with plans to expand to 40 of the top 50 U.S. markets in the next few years. ART has a nationwide footprint of 38GHz spectrum licenses in the United States, and owns 26GHz and/or 38GHz spectrum licenses in the United Kingdom and several Scandinavian countries. For more information, please visit ART's web site at www.art-net.net. About CarrAmerica CarrAmerica owns, develops and operates office properties in 14 markets throughout the United States. The Company is committed to becoming America's leading office workplace company by meeting the rapidly changing needs of its customers with superior service, a large portfolio of quality office properties, extraordinary development capabilities and land positions and, through HQ Global Workplaces, Inc., and certain other affiliates, the availability of executive suites. Currently, CarrAmerica and its affiliates own a controlling interest in a portfolio of approximately 254 operating office properties and have 40 office buildings under development in key growth markets. These markets include Atlanta, Austin, South Florida, Chicago, Dallas, Denver, Los Angeles/Orange County, Phoenix, Portland, Salt Lake City, San Diego, San Francisco Bay Area, Seattle, and metropolitan Washington, D.C. The above information includes forward-looking statements regarding potential building acquisition and deployment. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, failure to consummate the financing transaction, capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and other financial risks, customer demand, technological risks, the ability to meet financing conditions, management of growth, ability to achieve Year 2000 compliance, competition and government regulation may cause actual results to differ materially from the future results implied or expressed in the forward looking statements. Additional information about the most significant of such factors is set forth in ART's most recent annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . The Company does not undertake to update or revise its forward-looking statements publicly even if experience or future changes make clear that any projected results expressed or implied herein will not be realized. |
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