BlueStar Communications Announces $101 Million Financing Line of Credit From Ascend Communications.NASHVILLE, Tenn.--(BUSINESS WIRE)--June 7, 1999-- BlueStar Communications, Inc., the leading provider of Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) Internet access See how to access the Internet. in Tennessee and Kentucky, today announced the completion of a line of credit worth up to $101 million from Ascend Communications, Inc. (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 : ASND ASND A Streetcar Named Desire (play) ), a leader in wide area networking (WAN) and Intelligent Network (IN) solutions for providers and users of the next-generation public network. This line of credit will be used by BlueStar Communications to purchase the networking and DSL equipment necessary to build its DSL network throughout the southeastern 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. . "The availability of this line of credit will enable BlueStar Communications to complete the buildout of its DSL network throughout the southeastern United States and continues our strategic partnership with Ascend, one of the leading networking companies and providers of DSL products in the world," said Robert E. Dupuis, BlueStar Communications' president and chief executive officer. "The investment by Ascend Communications at this early stage of BlueStar Communications' network deployment and the recent equity investment of Crosspoint Venture Partners is an affirmation of our business model and is an exciting development for our young company. These developments position us to be the pre-eminent DSL Internet provider Internet provider - Internet Service Provider in the southeastern United States," continued Dupuis. "Ascend Communications continually evaluates emerging companies in the telecommunications and networking arena. We are pleased to provide BlueStar Communications with the $101 million line of credit," said Curtis Sanford, executive vice president, Access Switching division, Ascend Communications. "We have been thrilled with the progress BlueStar Communications has made in the deployment of its DSL network, the investment by Crosspoint Venture and its hiring of Bob Dupuis, a veteran of the telecommunications industry. We have identified in BlueStar Communications, a company with tremendous growth opportunities, and we look forward to assisting them with the buildout of their network throughout the southeastern United States," added Sanford. "We are pleased with the business partnership between BlueStar Communications and Ascend that began with a $10 million financing package in August 1998. This additional equipment lease line of credit for $101 million at very favorable terms is testimony to this relationship and the attractiveness of our DSL strategy," said Richard L. Burtner, a founder and chief financial officer of BlueStar Communications. DSL uses standard telephone lines to provide access to the Internet at high speeds. DSL offers small and medium sized businesses cost effective "always on" Internet access at speeds that will support applications that businesses usually require. As part of the strategic relationship between BlueStar Communications and Ascend, BlueStar's Rocket DSL services utilize the following Ascend products and solutions: the high density DSLTNT(TM), DSLPipe(R), MultiVPN, CBX-500, DSL MAX20, and MAX TNT TNT: see trinitrotoluene. TNT in full trinitrotoluene Pale yellow, solid organic compound made by adding nitrate (−NO2) groups to toluene. (TM). BlueStar Communications has contracted with Ascend Global Integration Services (GIS) division for networking design, deployment, on-site engineering, operations consulting, and ongoing training and education. BlueStar Communications is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. incorporated in 1998. Headquartered in Nashville, Tennessee, BlueStar Communications is the leading DSL Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. in Tennessee and Kentucky. Its commercial high-speed DSL Internet access currently is available in Nashville, Memphis, and Chattanooga, Tennessee, as well as in Louisville and Lexington, Kentucky. BlueStar Communication's DSL Internet services will be available in Knoxville, Tennessee, in early June 1999. BlueStar is scheduled to complete the buildout of its DSL network in Florida and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. by early third quarter. BlueStar Communications plans to expand its DSL Internet service throughout the Southeast in 1999. As an Internet service provider, BlueStar Communications has achieved distinction by being on the forefront of the bandwidth revolution with its DSL based products and services. Ascend Communications, Inc. is a leader in wide area networking (WAN) and Intelligent Network (IN) solutions for providers and users of the next-generation public network. |
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