San Jose, Calif.-based router and switch-maker Foundry Networks Inc. and AOL Time Warner expanded an existing relationship Thursday in a move that will see Foundry advertising splashed across AOL’s online, print and television properties.
Word of the deal on Thursday briefly helped Foundry Networks stock, which at the height of the frenzy reached $200 last year. But in recent trading the stock was nearly unchanged. AOL
shares were trading down 31 cents, about .8 percent, to $37.53.
Under the expanded multi-year, multi-million dollar technology and marketing agreement, Foundry provides AOL with networking products and services. In exchange, Foundry will be advertised across AOL properties including the America Online service, Netscape.com, Time Inc. publications and on the Turner Broadcasting System.
Joe Barrett, AOL’s vice president of Internet Operations, said AOL has valued Foundry’s partnership for several years, and credited the company’s products in helping AOL Time Warner grow its America Online service at a record-breaking pace.
“Foundry is looking forward to delivering new generation solutions to help AOL increase bandwidth and evolve their networking requirements,” said Bobby Johnson, president and chief executive officer of Foundry Networks.
Financial terms were not disclosed.
