Adaptive Broadband Wins $6M Contract With Large China Bank
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NASDAQ-traded Adaptive Broadband Corp. has secured a US$6 million contract from the Industrial and Commercial Bank of China (ICBC) to deploy Adaptive's Multimedia Integrated Digital Access System (MIDAS), a satellite-based technology for automatic circuit restoral of terrestrial data networks.
ICBC will use MIDAS to back up the its terrestrial network of leased fiber optic Digital Data Network (DDN) circuits. The bank's network has over 300 sites, including its Beijing headquarters and other locations throughout the country, and supports over 8,400 automatic teller machines and 56,300 point of sale (POS) terminals.
"ICBC selected the MIDAS system because it provides maximum performance and reliability for both circuit restoral and bandwidth on demand," according to John Zhang, Adaptive Broadband's senior vice president-global business development. "The other large banks in China have plans to deploy circuit restoral systems also, and are watching this project closely."
Zhang indicated that the ICBC project could lead to further business opportunities with other banks adding up to around $100 million.