Corvis Announces Agreement with Major Global Carrier; Telefonica to Deploy Corvis' Next-Generation Optical Networking Products.Business Editor/Hi-Tech Writers COLUMBIA, Md.--(BUSINESS WIRE)--July 26, 2001 Corvis Corporation (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 :CORV), a leading provider of intelligent 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. solutions, today announced that Corvis and Telefonica, the leading telecommunications operator in the Spanish and Portuguese-speaking world, have reached an agreement for Corvis' next-generation optical networking products. Corvis expects to finalize contractual details within a week and to begin shipping during the second half of 2001 for deployment into Telefonica's network. This agreement will extend Corvis' reach into the global market. Under the proposed terms of the agreement, Corvis will supply its CorWave XF repeaterless link optical networking product for deployment into Telefonica's existing Penbal-5 repeaterless pure silica core fiber (PSCF PSCF Personnel Security Clearance File ) cable system, connecting the island of Mallorca with Telefonica's backbone network A backbone network provides a path for the exchange of information between different LANs or subnetworks.[1] A backbone can tie together diverse networks in the same building, in different buildings in a campus environment, or over wide areas. in Spain. "Corvis' next-generation products will enable us to achieve our goal of network build-out and expansion, while enhancing our business opportunities," said Enrique Salvatierra, manager of Satellite and Submarine Systems, Telefonica de Espana S.A.U. "With Corvis, we will be able to connect our island network to our mainland network using our existing infrastructure, reducing both the capital and operational expenses of expanding our network." "Telefonica is leading the industry's shift toward next-generation optical services by using cutting-edge technology to maximize the value of its network," said Dr. David Huber, president 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 Corvis. "We are extremely proud to have Telefonica as a global customer and look forward to helping them expand their network." The CorWave XF product uses Corvis' proven amplification technology to enable carriers to transmit up to 800 gigabits per fiber for distances as long as 350 km without the use of in-line amplifiers. Eliminating in-line amplifiers in festoon festoon, sculptured or painted architectural or interior ornament consisting of a garland of leaves, flowers, or fruit, or some combination of these, held by ribbons or folds and draped at the ends. , regional point-to-point and spur network applications cuts capital expenditures and operational costs dramatically, and speeds network deployment. This allows established and emerging carriers to produce revenue more rapidly. Corvis' optical networking solutions are designed to reduce network costs and enable network service providers to offer advanced wavelength services to their customers at significantly lower costs. Service providers can leverage the benefits of Corvis-enabled optical networks to rapidly provision new services such as wavelength-on-demand, optical protection and restoration and dynamic service level agreements. About Telefonica Telefonica, SA is the leading Telecommunications Operator in the Spanish and Portuguese-speaking world. It is the number one Spanish multinational by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and one of the largest private telecommunications companies in the world. Its most important markets are Spain and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . In the last few years Telefonica has begun to expand into other regions, such as Europe and North Africa, mainly through mobile telephone licenses and company services. Telefonica is also present in Asia, primarily through Internet (Terra Lycos) and CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. (Atento) activities. Telefonica operates in 48 countries on all five continents. At the end of March 2001, the Company currently had 66.9 million managed customers for its fixed and mobile telephony and Pay-TV (71.3 million total customers). About Corvis Corvis Corporation is a leading provider of next-generation optical services networks founded by Dr. David Huber, a pioneer in the field of optical communications Optical communications The transmission of speech, data, video, and other information by means of the visible and the infrared portion of the electromagnetic spectrum. . By deploying the industry's first 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. , Corvis has revolutionized the way communications traffic is moved in the new Internet-driven economy. Corvis products and services deliver all-optical network intelligence and mesh network A communications network in which there are at least two pathways to each node. If one of the paths fails, the other is still available. A "fully meshed" network means that every node has a direct connection to every other node, which is a very elaborate and expensive architecture. capabilities providing telecom service providers with end-to-end core networking solutions, which make them more competitive in the market. Corvis' next-generation products enable these carriers to offer their customers a vast array of advanced wavelength services that dramatically lower capital and operational costs, while generating increased revenue. For more information, call Corvis at 443-259-4000 or visit the Corvis web site at www.corvis.com. Corvis, CorWave and the Corvis logo are trademarks and/or service marks of the Corvis Corporation. All other trademarks are the property of their respective owners. Note: This announcement contains certain forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties discussed under "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" in the Company's filings with the Securities and Exchange Commission. |
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