CTC Communications and Cisco Systems Announce Collaboration for New World ATM And IP+ATM Services.WALTHAM, Mass.--(BUSINESS WIRE)--Aug. 26, 1999-- CTC CTC - Cornell Theory Center Communications Corp. (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 :CPTL CPTL Compagnie des Pétroles Total Libye (Total SA Group Affiliates) CPTL Center for Trade Policy and Law (Carleton University; Ottawa, Canada) ) and Cisco Systems, Inc. (NASDAQ:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ), the worldwide leader in networking for the Internet, today announced the signing of a three year Alliance Agreement between the Companies. The Agreement provides for joint product and applications development, interoperability and field testing, and joint marketing of Cisco Powered Network services to CTC Customers. The alliance will result in the rapid deployment of fully tested new products and applications based on Cisco's New World network technologies. Kevin Kennedy, senior vice president of Cisco's Service Provider Line of Business stated, "This alliance will foster the development of new service offerings, which will continue to demonstrate and promote the value of Cisco Powered Networks TM. CTC 's technical expertise coupled with its business market and customer service will contribute significantly to the rapid development of value added network (networking) Value Added Network - (VAN) A privately owned network that provides a specific service, such as legal research or access to a specialised database, for a fee. A Value Added Network usually offers some service or information that is not readily available on public services based on Cisco's industry-leading technology solutions. This alliance will accelerate the realization of a New World communications For the company controlled by Sun Myung Moon and his Unification Church which owns The Washington Times and United Press International, see . New World Communications infrastructure". Robert Fabbricatore, Chairman and 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 CTC stated, "Our Cisco Powered Network is performing extremely well, beta customer testing is close to complete and there will be 50 customer locations on network by the end of September and 200 by the end of 1999. Customer acceptance of this state-of-the-art network is underscored by the fact that CTC is more than fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of for its 50 customer location target for September and is currently signing ICN ICN International Council of Nurses. (Integrated Communications Network) service contracts for the fourth quarter of 1999. As CTC looks to the future, it is clear that Cisco is a forward looking Company with exceptional capability to lead the Industry in providing networking solutions for the rapidly converging voice, data, Internet and video markets. CTC shares Cisco's vision of a New World communications infrastructure and through this alliance, will stay on the forefront of technology and applications developments that equip our Cisco ATM and IP+ATM network to provide cost effective and value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. solutions for all telecommunications needs. CTC is proud to be recognized by Cisco as a key contributor to this infrastructure evolution and its integration with business customer needs and applications." Frederic Kunzi, CTC's Chief Technology Officer stated, "This alliance will help CTC deploy and deliver convergent broadband data, voice, video and Internet services to the business market arena with technically sound and profitable products and services. Through this alliance, CTC will be involved in the design, development and implementation of future data, voice, video and Internet services and applications. The alliance will enable CTC to quickly and efficiently test and implement class-4 and class-5 switching capabilities on its Integrated Communications Network infrastructure". Mr. Kunzi continued, "This is a reciprocal agreement with CTC participating in Cisco initiated early product releases and Cisco participating in CTC initiated strategic development projects. This alliance will facilitate CTC's ongoing optimization of investment in network facilities and maximization of margins by providing on-net, value added, technology based solutions to our medium to larger-size business customers". About CTC Communications CTC is a rapidly growing provider of integrated communications solutions to medium and larger size business customers in the Northeast U.S. It provides an extensive array of voice and data services including local, long distance, frame relay, Internet access and other advanced data services. The Company markets its services through its 263 member sales and service representatives located in 25 branch offices throughout Maine, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , Vermont, Massachusetts, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , Connecticut, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Maryland. Company headquarters are in Waltham, Massachusetts and CTC can be found on the worldwide web at www.ctcnet.com About Cisco Systems Cisco Systems, Inc. (NASDAQ: CSCO) is the worldwide leader in networking for the Internet. News and information are available at http://www.cisco.com. Cisco, Cisco IOS, Cisco Systems and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. in the U.S. and other countries. All other trademarks mentioned in this document are the property of their respective owners. The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are, accordingly, cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Additional information about these risks and uncertainties is set forth in the Company's most recent report on Form 10-Q. CTC undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect results, events or circumstances after the date hereof. |
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