Broadwing Invests in the Future of Optical Technology.Business Editors & High Tech Writers CINCINNATI--(BUSINESS WIRE)--Aug. 4, 2000 Strategic Partnership, Equity Position in Corvis Demonstrate Growing Leadership Role in Deployment of Tomorrow's Networks 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 ) announced today that it holds an investment position in Corvis, the optical transmission component maker. This investment exemplifies Broadwing's commitment to maintain its momentum as a category-smasher in telecommunications through the deployment of leading-edge technology and the smart selection of key strategic partners. "The future is all about optical and, as the only national communications provider to deploy a fully optical network, Broadwing will be the leader in this new optical world," says Rick Ellenberger, president and chief executive officer of Broadwing. "Corvis technology helps us fulfill the promise of an all-optical network A communications network that works completely in the optical domain. It uses optical switches connected by optical fibers. See optical switch and optical computer. and allows us to stay at the forefront of the technology that will soon bring immense benefits to our customers and shareholders." Broadwing not only invests in the latest technology but also in the companies that produce it. Broadwing had previously completed a successful field trial with Corvis and will purchase $200 million in Corvis optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. equipment. In addition, over the past three months, Broadwing exercised the right to purchase 8 million Corvis shares for approximately $44 million. Corvis' IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. date was Friday, July 28, 2000 at $36 a share and closed trading on August 3, 2000 at $92 1/16. Perhaps the biggest benefit of the Broadwing/Corvis alliance will be the vast amounts of all-optical bandwidth that ultimately will be delivered to Broadwing customers and allow the company to transmit optical signals farther without regeneration, leading to provisioning ultra-long optical paths without regeneration. Additionally, the technology dramatically increases bandwidth and significantly reduces the latency in the company's network. "More and more Fortune 1000 companies, large carriers and Internet companies looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. high capacity are turning to Broadwing," says Ellenberger. About Broadwing Broadwing Inc. (NYSE:BRW) is an integrated communications powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. delivering voice, data and Internet solutions to a variety of customers nationwide. Broadwing combines unparalleled customer service with a premier next-generation fiber network and award-winning IP backbone, to create data and Internet solutions that are innovative, reliable, and provide businesses a competitive advantage. Broadwing sets the standard for customer accountability with the industry's only Installation Guarantee. Headquartered in Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. with 6,000 employees and 52 sales offices across the country, Broadwing can be found on the Web at www.broadwing.com. Note: Information included in this news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. |
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