Newbridge Networks Unveils Groundbreaking IP Services Strategy.KANATA, Ontario--(BUSINESS WIRE)--Aug. 25, 1999-- -- Company Announces Intent to Acquire IPSec Industry Leader TimeStep Corporation and IP Edge Routing Technology Innovator Northchurch Communications -- Newbridge Networks Newbridge Networks was an Ottawa, Ontario, Canada company founded by Canadian/Welsh entrepreneur Terry Matthews. It was founded in 1986 to create data and voice networking products after Matthews was forced out of his original company Mitel. (NYSE NYSE See: New York Stock Exchange : NN)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : NNC NNC NASCAR Nextel Cup (stock car racing circuit) NNC National Neighborhood Coalition NNC Naga National Council (India) NNC Neural Network Council (IEEE) ) today announced strategic Internet protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) portfolio enhancements which offer service providers the ability to generate revenue by delivering differentiated IP services. The Company has completed negotiations for two acquisitions that will combine industry-leading IPSec from TimeStep Corporation, of Kanata, Ontario Kanata is a large suburban area in the western part of Ottawa, Ontario, Canada,it has a population of 90,000 and is growing rapidly. It is located just to the west of the Greenbelt and is one of the largest of several communities that surround central Ottawa. and innovative IP edge routers from Northchurch Communications Inc., of Andover, Massachusetts. The move expands the addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be market and greatly enhances the Company's ability to deliver innovative IP services solutions. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Infonetics Research, Inc., a leading market research firm, the IP-VPN services market will reach U.S. $11 billion by 2001. The service provider edge market is expected to grow from U.S. $1 billion today to U.S. $3 billion by 2002. "Today's announcement introduces a solution for service providers to move beyond simple IP transport to making money by offering differentiated IP services," said Alan Lutz, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Newbridge Networks. "It builds on our enhanced IP service solution, which enables service providers to meet their requirement to offer billable IP services that possess the quality of service attributes essential for handling voice and video services." "We are focused on hot growth markets with an eye to enabling carriers to deliver revenue-generating services," said Jim Arseneault, executive vice president, IP & Internetworking Products Group, Newbridge Networks. "By entering the right markets at the right time, and blending the best of IP and ATM, we can immediately address the exploding markets for IP-VPNs and intelligent edge routers and enable e-services." With the commoditization Commoditization 1. A situation when illiquid financial contracts are changed or modified in a way that promotes trading and results in a more liquid market. 2. Making a product into a commodity. Notes: 1. of Internet connection services, carriers are eager for innovative technology to help them launch new, revenue-generating business and residential IP services. TimeStep's IPSec technology, embedded into the Newbridge enhanced IP platforms, provides a critical element in building secure IP-VPN solutions. The Northchurch edge service router, a next generation programmable platform, integrated into Newbridge's rich service management suite of products, enables the creation of personalized IP services, further enhancing the intelligence of the edge router. "TimeStep views this acquisition as a big win for both companies, but more importantly it is a win for our customers," said Tim Hember, president and chief executive officer, TimeStep Corporation. "Within Newbridge, we will extend our industry-leading secure IP-VPN solutions into global, geographically distributed secure services, while continuing to develop the best IP-VPN technology into the next millennium." A pioneer in the secure IP-VPN industry, TimeStep has focused on developing scalable and manageable secure IP-VPN solutions for network service providers and large enterprises. TimeStep's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. line recently won Network Magazine's "1999 Product of the Year" and InfoWorld's "Golden Guardian Award The Guardian Children's Fiction Prize or Guardian Award is a prominent award for works of children's literature by British or Commonwealth authors, published in the UK during the preceding year. ". TimeStep has taken a strong leadership role in the development of the IPSec standard. Its suite of hardware gateways, software clients, and central management is the most comprehensive solution for corporate intranets, extranets, and Internet remote access. "Newbridge Networks' global presence and managed network solution model will strengthen TimeStep's award-winning VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. offerings to partners such as GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Internetworking," said Robert McKinney, director of VPN and Internet Security ''This article or section is being rewritten at Internet security is the process of protecting data and privacy of devices connected to internet from information robbery, hacking, malware infection and unwanted software. Services, GTE Internetworking. "The acquisition of TimeStep by Newbridge Networks affirms GTE Internetworking's selection of TimeStep's secure and scalable VPN technology as a key component of our market-leading, managed VPN Advantage service." The Northchurch platform provides industry-leading circuit aggregation capacity, offering over 4000 T1s in a seven-foot rack. It is the only edge solution capable of wire-speed traffic management and processing at OC-48 line rates. Integration of this platform into the powerful Newbridge management suite will afford service providers a highly flexible solution supporting industry-leading QoS, traffic shaping Using methods to keep traffic flowing smoothly in a network. Although the term is often used synonymously with "traffic engineering," traffic shaping deals with managing the network moment to moment, whereas traffic engineering refers to the overall strategies employed in a network. , VPNs and accounting combined with simplified policy management, traffic monitoring, profiling and planning functionality. "Combining Northchurch's strength in IP routing with the strong presence of Newbridge in carrier service management will, for the first time, offer service providers the ability to deliver true carrier-grade IP services to its customers," said David Sawyer David B. Sawyer is an English-German upper diplomacy interpreter official and a translator training official belonging U.S. Department of State. Career He successively held a teacher in the Mainz University Application Language and Cultural-Studies Faculty, which is , president and chief executive officer, Northchurch Communications. "Service providers like SAVVIS/Bridge have been 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. a system-level approach to IP services, offering high-capacity access, flexible interfaces, and carrier-grade routing support. At the same time, we want a solution that provides us with the ability to deploy value-added services, such as IP-VPNs, traffic shaping, and intelligent subscriber management," said Dr. Rick Bubenik, executive vice president and chief technology officer, SAVVIS/Bridge. "Strengthened by the Newbridge management offering, the Northchurch intelligent edge device gives Newbridge a unique market opportunity, allowing it to introduce IP-based services with the service quality associated with its ATM-based product offering." "Early on, Northchurch recognized the need to deliver both a next generation router device and an IP-based service delivery platform, thus maximizing the overall size of the market opportunity," said Michael Howard, principal analyst, Infonetics Research, Inc. "Northchurch's technology will result in new market opportunities and an increased customer reach for Newbridge." The total cost of the acquisitions to Newbridge is expected to be approximately C$350 million, payable in cash over the next two years. The acquisition costs include projected performance payments. The Newbridge ownership position prior to the acquisitions was approximately 30 percent in each of TimeStep and Northchurch. A take-over bid circular in connection with the TimeStep acquisition will be mailed to TimeStep shareholders shortly. The acquisition has been approved by the board of directors of Newbridge and is subject to various closing conditions. The board of directors of TimeStep has agreed to support the acquisition. The acquisition of Northchurch is expected to close over the next week. About Newbridge Newbridge Networks designs, manufactures, markets and services wide area networking solutions for Internet service providers 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. ; local, long-distance, and wireless communications companies; cable television carriers; and corporate customers in more than 100 countries. The Company leverages its relationship with a growing family of Newbridge Affiliate companies and strategic alliances with numerous other networking companies to deliver complete, end-to-end solutions. Newbridge customers include the world's 350 largest telecommunications service providers and more than 10,000 corporations, government organizations and other institutions. Founded in 1986, the Company employs more than 6,000 people on six continents. News and information are available at www.newbridge.com. Newbridge and logo are registered trademarks of Newbridge Networks Corporation. Newbridge Networks will be hosting a conference call on August 25, at 5:30 p.m. Eastern Daylight Time. Telephone Conference Call Please call in 10 minutes prior to the start of the call North America: 1-800-553-2178 International: 1-303-267-1006 Audio Web Cast (listen only mode) Newbridge web site: www.newbridge.com |
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