BBN FINALIZES AGREEMENT TO ACQUIRE SURAnet PENDING GOVERNMENT APPROVAL.CAMBRIDGE, Mass.--(BUSINESS WIRE)-- March 13, 1995 -- Bolt Beranek and Newman Inc. (NYSE NYSE See: New York Stock Exchange :BBN (BBN Technologies, Cambridge, MA, www.bbn.com) A consulting firm that participated in the development of some of the most extensive networks in the world, including ARPANET, which evolved into the Internet. It was founded in 1948 as a consulting service in acoustics by Dr. ) and the Southeastern Universities For the Florida institution, see . Southeastern University has a total enrollment of about 867. About 77% are locally based[4], and a majority are female, but there is also a significant international enrollment consisting of students from over 50 countries, including West Research Association (SURA) today announced they have signed a contract under which BBN will acquire the SURAnet Internet service. The contract signing finalizes an agreement reached through a letter of intent and announced on December 20, 1994. The closing of the transaction, expected at the end of March, is subject to various conditions, including approval by the U.S. government. The acquisition of SURAnet significantly increases BBN's presence in the fast-growing Internet services market. As announced today, BBN Planet Corporation (formerly BBN Internet Services Corporation), through its NEARNET NEARNET New England Academic and Research Network (sm), BARRNET BARRNET Bay Area Regional Research Network (California) (sm) and SURAnet operations, will provide service to more than 1,000 business, government, academic and medical institutions in the U.S., making BBN the nation's leading Internet services provider to organizations. BBN is a leading provider of internetworking technology and services that help people work and learn together. This year the company is celebrating the 25th anniversary of its development of the ARPANET (Advanced Research Projects Agency NETwork) The research network funded by the U.S. Advanced Research Projects Agency (ARPA). The software was developed by Bolt, Beranek and Newman (BBN), and Honeywell 516 minicomputers were the first hardware used as , which led to the modern Internet. For its fiscal year ended June 30, 1994, BBN had revenue of $196 million. -0- NEARNET and BARRNET are service marks of Bolt Beranek and Newman Inc. CONTACT: Peter Thonis 617/873-3512 (phone) 617/873-5011 (fax) pthonis@bbn.com (Internet) |
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