Coherent Networks Inc. Announces Sale of FastGate/Utility Business and Changes Name to Steleus Inc.Business Editors WESTFORD, Mass.--(BUSINESS WIRE)--June 18, 2002 Divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). Increases Focus On Market for prOceSS7(TM) Telecommunications Network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. Traffic Analysis and Management System Coherent Networks, Inc., the company that pioneered the deployment of real-time call detail record capture and mobile messaging for the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. industry, today announced that it has completed the sale of its FastGate(TM)/Utilities Business to Osmose, Inc. Coherent Networks also announced that in connection with the sale it has changed its name to Steleus Inc. On June 7, 2002, the Company completed the sale of the FastGate/Utilities business to Buffalo, New York-based Osmose, Inc., a leading provider of predictive and preventative maintenance services for power distribution and transmission systems. The sale gives Steleus the opportunity to concentrate its resources on the telecommunications market. The Company will focus its sales, development and delivery investments on its industry-leading prOceSS7(TM) traffic analysis and management system. prOceSS7 allows carriers and service providers to monitor 100% of their network traffic on a real-time basis, regardless of technology, geography or interconnection in·ter·con·nect v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects v.intr. To be connected with each other: The two buildings interconnect. v.tr. complexity. Under the terms of the sale, the FastGate/Utilities business retained the name Coherent Networks and became an operating division of Osmose, Inc. Steleus will soon become the corporate name for the Coherent Networks International companies worldwide, which will now concentrate their resources exclusively on the telecommunications business. Rick Mace, chairman, president and chief executive officer of Steleus Group, said, "The Company's strategic focus is providing real-time traffic analysis and management systems as well as software tools for business analysis for the telecommunications market worldwide. The sale of the FastGate/Utility business gives us the opportunity to concentrate our management, investment and development resources on our core business. This sale is very good news for our worldwide telecommunications customer base, which will now benefit from increased investment in our prOceSS7 probe and business applications. These products provide them with the tools they need for real-time operations Noun 1. real-time operation - data processing fast enough to keep up with an outside process real-time processing data processing - (computer science) a series of operations on data by a computer in order to retrieve or transform or classify information management and business analysis." Commenting further on the sale, Mace said, "It was a difficult decision to sell the FastGate/Utility business because of our success, strong brand recognition and competitive position in the power utility market. The FastGate/Utility business has gained a great deal of momentum over the last year, and we expect this momentum to accelerate given Osmose's presence and customer base in the power utility market." About Steleus The Steleus Group pioneered the deployment of real-time call detail record capture and mobile messaging for the telecommunications industry through the Company's European subsidiary, NMG NmG No More Gas (Myers Motors electric vehicle) NMG Navy Metrication Group NMG Nuera Media Gateway NMG Network Media Gateway NMG Network Management Gateway NMG Network Measurement Group Telecoms. Steleus' prOceSS7(TM) traffic analysis system allows carriers and service providers to monitor 100% of their network traffic on a real-time basis, regardless of technology, geography or interconnection complexity. The prOceSS7 system also serves as an open platform for delivering software applications designed to provide carriers with real-time access to mission-critical customer and network information--the information they need to optimize optimize - optimisation network availability, improve efficiency and target new services. prOceSS7's suite of advanced SS7 traffic analysis applications enables a carrier to leverage the data collected by the prOceSS7 platform to non-invasively improve network efficiency and availability, monitor and enforce service level agreements, augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: customer care through access to relevant call details, independently verify interconnection billing accuracy, detect fraud, and even intervene intervene v. to obtain the court's permission to enter into a lawsuit which has already started between other parties and to file a complaint stating the basis for a claim in the existing lawsuit. in real time in critical situations. Steleus also provides wireless carriers with messaging applications that can be used to market new roaming The ability to use a communications device such as a cellphone or PDA and be able to move from one cell or access point to another without losing the connection. services via SMS messages SMS message SMS n → (message m) SMS m . Drawing upon the Company's more than 30 years' experience providing solutions for the telecommunications industry, Steleus' products are deployed and in production with more than 75 carriers across 6 continents. For more information, please visit www.steleusgroup.com. |
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