Bob Woods

Optical components developer Agere Systems Inc. said that Lucent Technologies intends to buy about $3 billion of its products over the next three years. Agere, a spinoff of Lucent, said in a SEC filing on Thursday that Lucent will purchase through Jan. 31, 2002, at least $800 million worth of Agere products. Lucent will then […]

Nortel Networks said it has expanded its reseller agreement with IBM Corp.’s Global Services division. The move lets IBM Global Services sell Nortel’s end-to-end optical networking solutions for cost-effective management of value-added, high bandwidth applications to enterprises and carriers worldwide. IBM is already a “Nortel Networks Global Solutions Partner.” Now, Big Blue has added Nortel […]

OpNext Inc., which supplies active fiber-optic components and modules, said it has closed a $321 million venture-capital investment from Clarity Group, an equal partnership between Clarity Partners, a Los Angeles-based private equity investment firm, and Marubeni Group, a major Japan-based trading house. OpNext, in a statement, said it will use this capital to expand its […]

Optical-components designer Alcatel Optronics , a division of optical-networking giant Alcatel , said it would buy Kymata Ltd., a player in mastering planar technology for high-end passive optical components, representing the majority of the fast growing Dense Wavelength Division Multiplexing (DWDM) market. Terms of the agreement call for 9 million Alcatel Class O shares and […]

Glassmaker-turned-fiber-optic concern Corning Inc. posted a net loss of $4.8 billion for its second quarter, because of merger-related charges and the write down of obsolete inventory. But when those charges are factored out, the company not only made money, it beat Wall Street estimates. Corning’s net loss came in at $5.13 a share, compared with […]

Bandwidth-pooling point provider LighTrade Inc. and facilities-based bandwidth provider Looking Glass Networks announced multi- year interconnection agreements in six U.S. markets. Under the pacts, the financial details of which were not released, Looking Glass will interconnect to LighTrade pooling points in Atlanta, Los Angeles, New York City, Jersey City, Seattle and Washington DC. Looking Glass’ […]

Struggling telecom giant Lucent Technologies Inc. unleashed a torrent of news this morning in its third-quarter financial report–the elimination of up to 20,000 more jobs, a billion dollar loss that was bigger than Wall Street expected, a fourth-quarter restructuring charge of up to $9 billion and the end of dividend payments. While Lucent also sold […]

Intelligent optical-networking provider Alcatel announced a three-year pact with German telecommunications operator Deutsche Telekom AG, where Alcatel will supply Deutsche Telekom with 1.2 million kilometers of cabled optical fiber through 2003, with the first deliveries starting in the middle of this year. Alcatel did not specify the value of the pact in a press release, […]

Next-gen IP infrastructure systems provider Juniper Networks Inc. said its pro-forma net income for the second quarter came in at $29.3 million or $0.09 per share, down slightly from $28.6 million or $0.08 per share reported in last year’s second quarter. Wall Street analysts had expected to report a pro-forma profit of $0.08 a share […]

Cisco Systems Inc. said it has signed a definitive pact to buy privately held AuroraNetics Inc. in an all-stock deal worth up to $150 million. Cisco said it will record a charge for acquired in-process research and development expenses of no more than $0.01 per share. The acquisition will be accounted for as a purchase […]

Even with a slowing economy and several recent “gloom-n-doom” reports in the optical-networking industry, a new study claims that first-mile fiber connections to multi-tenant office buildings remain a strong growth area. Research firm Communications Industry Researchers Inc. (CIR), in a new report, says that “optical buildings” will spur the domestic optical access systems market to […]

360networks said it and several of its subsidiaries have filed for bankruptcy in the U.S. and Canada. “We are taking these steps to restructure our business and financial position in a difficult telecommunications environment,” said Greg Maffei, president and chief executive officer of 360networks, in a late-Thursday statement. “While very disappointing, we believe today’s filings […]