Broadwing Acquires Shares of Sonic Telecom, Ltd.Business Editors/Hi-Tech Writers CHANTILLY, Va. & CINCINNATI--(BUSINESS WIRE)--July 18, 2000 Sonic Telecom, Ltd. the originator of telecommunications bandwidth-on-demand and billing by-the-byte, and Broadwing Inc., (NYSE NYSE See: New York Stock Exchange : BRW BRW Business Review Weekly (business magazine; Melbourne, Victoria, Australia) BRW Business Report Writer BRW Barrow, AK, USA - Barrow (Airport Code) BRW Business Requirement Worksheet ) a next-generation, leading-edge communications provider, announced today that Broadwing has purchased approximately eight percent of Sonic Telecom shares. "As a leader in the next-generation communications space, Broadwing looks for strategic investments in companies and technologies that are on the cutting edge, providing services that will help give our customers advanced communications solutions," said Rick Pontin, Broadwing Communications president and chief operation officer. "We are pleased to support Sonic Telecom with our equity investment and offer them access on our award-winning, fiber optic network." The relationship enables Broadwing to offer Sonic Telecom's applications, such as bandwidth ordering over the Web, to its customers. In turn, Sonic Telecom will rollout its ATM and IP products across the U.S. over Broadwing's network. In addition, Mr. Pontin will join Sonic Telecom's board of directors. "This relationship leverages the core expertise of our two companies. Now, Sonic Telecom can rollout its ATM and IP products seamlessly with Broadwing domestically," said Todd Ruelle, president and chief executive officer of Sonic Telecom. Current customers using Sonic's technology include Deutsche Bank (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : DTBKY), CBS (Cell Broadcast Service) See cell broadcast. (NYSE: CBS), CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. (NYSE: TWX (TeletypeWriter eXchange Service) A U.S. and Canadian dial-up communications service that became part of Telex. In 1971, the Bell System sold TWX to Western Union. TWX transmitted 5-bit Murray code or 7-bit ASCII code at up to 150 bps. See Telex. ), News Corporation's (NYSE: NWS NWS National Weather Service NWS Naval Weapons Station NWS New World Symphony NWS Nuclear Weapon State NWS Not Work Safe NWS National Watercolor Society NWS North Warning System NWS Nose Wheel Steering NWS National Waste Strategy (UK) ) Fox News Channel and the Virginia Economic Development Partnership. About Broadwing Inc. Broadwing Inc. (NYSE: BRW) is an integrated communications powerhouse delivering voice, data, wireless, and Internet solutions to a variety of customers nationwide. Focused on customer service combined with a premier next-generation fiber network and award winning IP backbone, Broadwing's reliable high-bandwidth data and Internet capabilities give businesses a competitive advantage. Headquartered in Cincinnati, Ohio with 6,000 employees, Broadwing can be found on the Web at www.broadwing.com. About Sonic Telecom Privately-held Sonic Telecom is an international digital communications solutions provider of access, transport and termination for transmission of video, data and voice on a single ATM network at a fraction of the cost - and with greater flexibility - than private lines and frame relay services. Broadwing Inc., General DataComm (NYSE: GDC GDC Game Developers Conference GDC General Dental Council GDC Gouvernement du Canada GDC Georgia Department of Corrections GDC Global Data Center GDC Guglielmi Detachable Coil GDC Global Development Center GDC Institute for Genetic Disease Control in Animals ) and Viatel, 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 : VYTL) are equity holders and strategic partners in the company. For additional information about Sonic Telecom , visit the company web site at www.sonictelecom.com. Note: Information included in this news release contains forward-looking statements that involve potential risks and uncertainties. Broadwing's future results could differ materially from those discussed herein. Factors that could cause or contribute to such differences include, but are not limited to, Broadwing's ability to maintain its market position in communications services, and its ability to develop and successfully launch new products and services. More information on potential risks and uncertainties is available in the company's recent filings with the Securities and Exchange Commission, including 1999 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. reports for Broadwing Inc. and Broadwing Communications. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion