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COLUMBIA, Md., Mar 8, 2004 (BUSINESS WIRE) -- Corvis Corporation (Nasdaq: CORV),
a leading provider of intelligent optical networking solutions, today announced
that it has signed an agreement to acquire Chicago-based competitive local
exchange carrier (CLEC) Focal Communications Corporation, a nationwide provider
of voice and data solutions for enterprises, carriers and resellers.
"We believe that Focal meets all the criteria we've previously discussed for a
strategic acquisition. Clearly, Focal will help further support our growth
strategy for Broadwing," said Dr. David Huber, Corvis chairman and CEO. "Focal
will help us expand our nationwide network footprint and reduce our access
costs. They will also help add valuable customers and revenue without putting
undue stress on our balance sheet."
Broadwing Communications built and operates a one-of-a-kind, ultra-long haul,
all-optical network and award-winning IP backbone that provides networking
solutions for voice, video and data applications used by carriers and
enterprises. Focal is a competitive local exchange carrier with 4,000 enterprise
and wholesale/carrier customers. Focal operates in 23 Tier 1 markets from Boston
to Miami and New York to Los Angeles. Focal also has its own metro fiber
footprint in nine Tier 1 national markets.
The Company said it has agreed to acquire Focal for a total consideration of
$210 million, which will be comprised of approximately $101 million in equity to
be issued to Focal's existing equity holders and the assumption or payment of
approximately $109 million of Focal's existing debt and other long-term capital
lease obligations.
Focal expects to report annual revenues of approximately $320.0 million for
fiscal 2003. As of December 31, 2003, Focal had cash and cash equivalents of
$24.9 million.
Focal Communications will expand the reach of Broadwing's 18,500-mile nationwide
all-optical network into targeted local markets throughout the United States.
The addition of these metropolitan markets will help further support the
company's market attack plan with enterprise and strategic carrier customers.
"This is a combination that makes great business sense. Our operations clearly
complement each other and we both have a reputation for and dedication to
excellent customer service," said Kathleen Perone, president and CEO of Focal
Communications.
The Company also stated that Focal Communications would help accelerate its
progress with its Voice over Internet Protocol (VoIP) services offering and its
"Access Forward" cost initiative, which is aimed at reducing local loop or
access charges. The Focal acquisition will help reduce planned capital
expenditures for Broadwing's current voice network platform due to the synergies
expected with Focal's state-of-the-art voice network. In turn, Broadwing will
enable Focal to offer bundled data and voice services to its existing customers
who subscribe primarily to voice services today. The Broadwing network is
expected to significantly lower Focal's current long-haul transport and
switching costs.
a leading provider of intelligent optical networking solutions, today announced
that it has signed an agreement to acquire Chicago-based competitive local
exchange carrier (CLEC) Focal Communications Corporation, a nationwide provider
of voice and data solutions for enterprises, carriers and resellers.
"We believe that Focal meets all the criteria we've previously discussed for a
strategic acquisition. Clearly, Focal will help further support our growth
strategy for Broadwing," said Dr. David Huber, Corvis chairman and CEO. "Focal
will help us expand our nationwide network footprint and reduce our access
costs. They will also help add valuable customers and revenue without putting
undue stress on our balance sheet."
Broadwing Communications built and operates a one-of-a-kind, ultra-long haul,
all-optical network and award-winning IP backbone that provides networking
solutions for voice, video and data applications used by carriers and
enterprises. Focal is a competitive local exchange carrier with 4,000 enterprise
and wholesale/carrier customers. Focal operates in 23 Tier 1 markets from Boston
to Miami and New York to Los Angeles. Focal also has its own metro fiber
footprint in nine Tier 1 national markets.
The Company said it has agreed to acquire Focal for a total consideration of
$210 million, which will be comprised of approximately $101 million in equity to
be issued to Focal's existing equity holders and the assumption or payment of
approximately $109 million of Focal's existing debt and other long-term capital
lease obligations.
Focal expects to report annual revenues of approximately $320.0 million for
fiscal 2003. As of December 31, 2003, Focal had cash and cash equivalents of
$24.9 million.
Focal Communications will expand the reach of Broadwing's 18,500-mile nationwide
all-optical network into targeted local markets throughout the United States.
The addition of these metropolitan markets will help further support the
company's market attack plan with enterprise and strategic carrier customers.
"This is a combination that makes great business sense. Our operations clearly
complement each other and we both have a reputation for and dedication to
excellent customer service," said Kathleen Perone, president and CEO of Focal
Communications.
The Company also stated that Focal Communications would help accelerate its
progress with its Voice over Internet Protocol (VoIP) services offering and its
"Access Forward" cost initiative, which is aimed at reducing local loop or
access charges. The Focal acquisition will help reduce planned capital
expenditures for Broadwing's current voice network platform due to the synergies
expected with Focal's state-of-the-art voice network. In turn, Broadwing will
enable Focal to offer bundled data and voice services to its existing customers
who subscribe primarily to voice services today. The Broadwing network is
expected to significantly lower Focal's current long-haul transport and
switching costs.
Ich verkaufe nicht eine einzige Aktie!!!!!
Richard Vigilante hat erst kuerzlich einen Kommentar ueber Corvis
geschrieben u. hat gemeint das Corvis in diesem Jahr " cash flow positiv "
werden wird. Bevor das der Fall sein wird, werden wir einen Preis pro Aktie
zwischen 3-4 $ sehen. Es kann natuerlich auch sein, dass der Preis noch fuer
ein paar Quartale um die 2 $ notieren wird bis wir auf die naechste Ebene
gehoben werden.
Richard Vigilante hat erst kuerzlich einen Kommentar ueber Corvis
geschrieben u. hat gemeint das Corvis in diesem Jahr " cash flow positiv "
werden wird. Bevor das der Fall sein wird, werden wir einen Preis pro Aktie
zwischen 3-4 $ sehen. Es kann natuerlich auch sein, dass der Preis noch fuer
ein paar Quartale um die 2 $ notieren wird bis wir auf die naechste Ebene
gehoben werden.
Es gibt keine neuen Beiträge.
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Neueste Beiträge aus dem CORVIS CORPORATION Forum
| Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
| 103 | Rein In CORV WkN: 938171 | preisfuchs | NMaxwell | 30.04.04 15:06 | ||
| 49 | Das ist die nächste | TomIndustryII | preisfuchs | 09.09.03 11:46 | ||
| 4 | habe umgeschichtet | TomIndustryII | preisfuchs | 09.09.03 11:41 | ||
| 26 | Interssantes kurzfristig | estrich | Dr.UdoBroemme | 20.11.01 12:43 |
