Andersen Consulting and Telewest Form Joint Venture to Deliver Leading-Edge Interactive Broadband Services.Business & Technology Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and LONDON--(BUSINESS WIRE)--March 7, 2000 Andersen Consulting See Accenture. , a leading global management and technology consultancy, and UK-based Telewest Communications, today announced the formation of a joint venture company to develop and deliver leading-edge interactive broadband communications services. Arjang Zadeh, currently an associate partner with Andersen Consulting's broadband solutions group, will head the London-based joint venture company and has been named acting chief executive officer. The new company will operate independently and will initially be staffed with a start-up team of 30 professionals drawn from Andersen Consulting. The joint venture intends to develop, customize and licence innovative products and services and be at the forefront of the rapidly emerging digital communications Transmitting text, voice and video in binary form. See communications. industry. Most of the services will be offered through broadband channels over the next five years and are in varying stages of development. Full Video on Demand will be the joint venture's first product to market, later this month. Other services to be offered by the joint venture will include interactive TV, wirefree broadband home, music pay-per-view, interactive advertising, games, information, and electronic banking. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent industry analysis by Jupiter Research, one in three homes in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). - approximately 50.8 million households - will receive digital television by 2003, compared with less than one in 10 in 1999. Andersen Consulting's own research estimates that the market for the new company's services in Europe alone is worth over $11.05 billion ((pound)7 billion). The company intends to build revenue growth quickly and may offer shares to the public at some future date. Telewest is both a part owner (Law) one of several owners or tenants in common. See See also: Part and the first customer of the joint venture company. The relationship between Telewest and Andersen Consulting has grown out of the work Andersen Consulting has done with Telewest to help design its digital interactive platform. Potential worldwide customers of the new company include cable operators, telecommunications operators, digital terrestrial operators and satellite operators. The joint venture will benefit from the Andersen Consulting's knowledge capital and the relationships it has built with traditional industry leaders as well as new and emerging market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. . "This is an explosive growth market. CEOs of major network companies know that broadband interactive services are crucial to their future success," said Zadeh. "I am very excited about this opportunity and believe that we have the ability to lead in this market." "This joint venture will unleash the full potential of broadband services for Telewest and other operators," said Tony Illsley, chief executive of Telewest. "Today's announcement provides us with technological leadership as we continue to be first to UK consumers with new broadband services". Added Chris Cowan, partner in the Communications & High Tech unit of Andersen Consulting: "This venture is a further illustration of our strategy to accelerate delivery of broadband services both in Western Europe, and in the longer term, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Asia." About Andersen Consulting Andersen Consulting's Communications & High Tech group serves the rapidly converging areas of Communications, Electronics & High Tech, and Media & Entertainment. With 12,000 dedicated professionals and revenues of $2 billion ((pound)1.3 billion) in 1998, the unit provides services to more than 80 percent of the world's largest electronics, communications, media and entertainment companies, as well as leading "dot-coms." AC Ventures, the venture capital unit of Andersen Consulting, works with entrepreneurs to build companies that transform industries and generate superior economic returns. The unit provides a unique venture capital option that can help start-ups accelerate growth and market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . Based in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. , AC Ventures expects to invest up to $1 billion ((pound)633.6 million) globally over the next five years. Andersen Consulting is an $8.3 billion ((pound)5.3 billion) global management and technology consulting organisation whose mission is to help its clients create their future. The organisation works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has approximately 65,000 people in 48 countries. Its home page is http://www.ac.com. About Telewest Telewest Communications is Britain's leading integrated broadband 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. . Telewest's broadband cable networks now pass more than 4.6 million homes, with more than 1.5 million households choosing Telewest for their multi-channel television, telephone and Internet services. In the business sector Telewest's voice and data telecommunications links are used by over 54,000 companies and other public and private sector organisations. Revenues for the nine months ended 30 September, 1999, were (pound)576 million ($909.2 million), up 14.7 per cent from 1998. In the same period earnings before interest, tax, depreciation and amortisation (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) grew 33.3 per cent to (pound)165 million ($260.4 million). Telewest's ordinary share capital is listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and on the US NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market System. |
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