Covad Communications Enters Into Strategic Relationship with Qwest Communications.SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 19, 1999--Covad Communications Group, Inc. announced today it has entered into a strategic relationship with Qwest Communications International Inc. (Nasdaq:QWST). As part of this relationship, Covad will receive an equity investment of $15 million from Qwest. The investment will be used to support the deployment of Covad's Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and ("DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ")-based network in new and existing regions. The company also entered into commercial agreements with Qwest for the purchase of transport services and resale of the company's DSL services. About Covad Covad Communications Co. is a leading packet-based Competitive Local Exchange Carrier that provides dedicated high-speed digital communications services using DSL technology to Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. ("ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ") and enterprise customers. It launched its services in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Los Angeles, 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 , Boston, Washington D.C. and Seattle metropolitan areas and has announced plans to deploy its networks in a total of 22 regions nationwide. Covad Communications Co. and its affiliates doing business as Covad Communications Co., are wholly owned subsidiaries of Covad Communications Group, Inc. Their corporate headquarters is located at 2330 Central Expressway, Santa Clara, Calif., 95050. Telephone: 408/844-7500 or 888/GO-COVAD; FAX: 408/844-7501. Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this release which are not historical facts maybe deemed to contain forward-looking statements, including but not limited to, statements regarding the success of the strategic relationship with Qwest, deployment of the company's network in new and existing regions, and the speed and breadth of coverage in each region. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the company's dependence on strategic third parties to market and resell its services, intense competition for the company's service offerings, dependence on growth in demand for DSL-based services, and other risks and uncertainties detailed in the company's Securities and Exchange Commission filings. |
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