Beijing Telecom Signs Contract to Purchase Vianet Technologies' Software Products for Its First Video Service Provider Applications in China Market.Business Editors & High-Tech Writers DALLAS--(BUSINESS WIRE)--July 11, 2001 Vianet Technologies, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VNTK VNTK susceptibility of blast (US DoD) VNTK target vulnerability indicator designating degree of hardness (US DoD) ) a Plano, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. , USA-based company, announced today that it has signed a US$3.3M two-year contract with Holy Universal Limited, a purchasing agency acting on behalf of Beijing Telecom. Under the terms of the contract, Vianet is licensing its software products, Video Messenger Pro (VMP VMP Vampire VMP Validation Master Plan VMP Value of Marginal Product VMP Veterinary Medicinal Product VMP Veterans Memorial Park VMP Variable Message Panel VMP Value Management Program VMP Vector Map Product VMP Vacuum Metallised Pigment ) and Video Interactive (VI) to Beijing Telecom for its broadband services and Video Services Provider (VSP VSP - Very Simple Prolog+. ) applications. After ten months of demonstrations, technical evaluation The study and investigations by a developing agency to determine the technical suitability of material, equipment, or a system for use in the Military Services. See also operational evaluation. , and contract negotiations, Mr. Jeremy Posner, Chairman of Vianet, Mr. Chen Jian, 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. of Holy Universal Ltd., and Mr. Sang Xiao-Xu, Deputy Director of Beijing Telecom Business Bureau signed the contract on July 4, 2001. Beijing Telecom is the first Video Services Provider (VSP) in the Chinese market. After the signing, Mr. Posner said, "This agreement with Beijing Telecom marks a significant point in Vianet's expansion into the international telecom services industry. The significance and size of the Chinese market suggests that there will be many more business opportunities for Vianet to supply VSP systems to additional clients both in China and other overseas markets. We are delighted that Beijing Telecom has selected Vianet products for this major introduction." Pete Ianace, CEO of Vianet, added, "This contract is a big step forward, with a major global service provider. It reinforces the feedback we are getting from both U.S. and International service providers. The ability to offer new enhanced services that generate additional revenues over their existing infrastructures, addresses one of their greatest needs." About Vianet Technologies, Inc. Vianet is an innovator in the development and integration of visual media delivery technology and systems. The company offers outstanding solutions in private and public networks, value-added services, e-commerce applications and visual media communications. The delivery of broadband services and deployment of new technologies continues to be restricted by bandwidth limitations in both the public (Internet) and private (intranet) sectors. Vianet is solving these issues with the development of next-generation bandwidth management Controlling the traffic flow in a network. See bandwidth manager. solutions. Based in Plano, Texas, Vianet is a publicly held company traded under the ticker VNTK. For more information about the company, please visit the Web site at www.vianet.com About Beijing Telecom: Beijing Telecom Company is a subsidiary company of the China Telecom Group. It operates both national and international fixed line network services such as voice, data, image and multimedia communications. Beijing Telecom has a registration capital of 9.4 billion RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) (US$1.2 billion) and 15,000 employees. Its network covers 16,808 sq-km, and has 130,000 long distance auto-switching ports. Its toll-dialing phone call systems can reach more than 2,000 counties in China and its IDD (1) (International Direct Dial) Long distance dialing between countries without operator intervention. Also known as international standard dialing (ISD). services can reach 250 countries around the world. Beijing Telecom's current telephone switching Telephone switching Moving one's assets from one mutual fund or variable annuity to another by telephone. telephone switching The movement of an investor's funds from one mutual fund to another mutual fund on the basis of an order given via capacity is about 5.73 million lines and 4.07 million subscribers. It provides IDC and ASP services for the largest ICPs in China. Beijing Telecom also operates its own ISPs serving the population of 16 million people in the capital city. Except for the historical information contained herein, the statements in this announcement are forward looking statements which involve risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the forward looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions in the markets in which the company operates; success in the development and market acceptance of new and existing products; dependence on suppliers, third-party manufacturers and channels of distribution; customer and product concentration; fluctuations in customer demand; maintaining access to external sources of capital; ability to execute management's margin improvement and cost control plans; overall management of the company's expansion; obtaining of necessary regulatory approvals; and other risk factors detailed from time to time in the company's filings with regulatory bodies. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion