Thursday, March 4, 2010

Cloudmark Raises $23 Million for Secure Messaging

Cloudmark, a start-up based in San Francisco and Boston, raised $23 million in a new round of funding for its carrier-grade secure messaging software. Cloudmark leverages a unique combination of "Advanced Message Fingerprinting" technology, real-time corroborated feedback from Cloudmark's Global Threat Network system, automated, anonymous traffic analysis and dedicated security analysts to provide spam, phishing and virus protection. The company...

ZTE Picks Siverge Networks' Chip for Multi-Service Access

ZTE has selected Siverge Networks' flagship "Griffin" chip for use in multi-service and wireless backhauling products.The Griffin family of chip solutions collapses multiple systems into a single multi-service card, performing transport and aggregation functions needed to create a bridge between legacy systems and new services and networks. In addition, Siverge Networks recently unveiled a low-cost, high-performance Universal Gateway solution for...

RCN Accepts Investor Group Buyout Offer

RCN, a competitive broadband provider serving Washington, D.C., Philadelphia, Lehigh Valley (PA), New York City, Boston and Chicago, agreed to a $1.2 billion buyout offer from an investment fund managed by ABRY.As part of this agreement, each share of RCN common stock issued and outstanding immediately prior to the effective time of the merger will be entitled to receive $15 in cash, representing a 43% premium over RCN's average closing share price...

BSNL Cancels US$10 Billion Tender for GSM Expansion

State-owned Bharat Sanchar Nigam Ltd (BSNL) has canceled a tender valued at up to US$10 billion for the provision of up to 93 million new GSM lines. Critics had pointed to a lack of transparency in the contracting process. Ericsson and Huawei were the sole remaining suppliers in the tender, which had been underway for two years. The carrier is now expected to invite fresh bids. http://www.bsnl.co.in/http...

Verizon Keeps Quarterly Dividend Unchanged

The Board of Directors of Verizon Communications declared a quarterly dividend of 47.5 cents per outstanding share, unchanged from the previous quarter. The dividend is payable on May 3, 2010, to Verizon Communications shareowners of record at the close of business on April 9, 2010.Verizon has approximately 2.5 million shareowners and approximately 2.8 billion shares of common stock outstanding. The company made $5.3 billion in dividend payments in 2009. http://www.verizon.comhttp...

FCC to Recommend "Connect America" Broadband Fund Instead of USF

The FCC's upcoming National Broadband Plan will propose major changes to the Universal Service Fund, a program that will distribute more than $8 billion in support in 2010. In a blog posting on the FCC's Broadband.gov website, the following recommendations were made:"Transition to a new Connect America Fund to extend broadband where it is not available now and to support ongoing service in those areas where it is uneconomic to provide service without...

AT&T & CWA Reach Accord on 3-Year Contract

Members of the Communications Workers of America (CWA) ratified a new three-year agreement with AT&T covering 35,000 CWA-represented workers at AT&T Southeast. The previous contract expired on August 8, 2009 and employees have worked under the terms of the expired contract while negotiations continued. The settlement was ratified by a 65 percent vote. In a press statement, the CWA said the agreement provides for a compounded 9 percent wage increase over the contract term, plus additional increases for workers covered by progression scales....

Zhone Announces One-for-Five Reverse Stock Split

Zhone Technologies announced a one-for-five reverse stock split of its common stock which will become effective on or about March 11, 2010. The reverse stock split was authorized by Zhone's shareholders at a special meeting held on October 16, 2008. No fractional shares of common stock will be issued as a result of the reverse stock split. Shareholders of record will receive cash in lieu of fractional shares to which they otherwise would be entitled, based upon the closing price of Zhone's common stock on the last trading day before the reverse...

Utah Pursues Google High Speed Fiber Network Partnership Bid

Utah Governor Gary Herbert endorsed local efforts to encourage Google to bring its experiment in fiber optics to the state.UTOPIA, which is a group of 16 Utah cities, operates a municipal fiber optic network using an open service provider model."UTOPIA is a good candidate to partner with Google in the new project and to bring the experiment to well-prepped ground," said the Governor in a letter of support. "UTOPIA has successfully pursued models...

DS2 Files for Bankruptcy Reorganization

DS, which supplies high-speed powerline and coax communications silicon, initiated a voluntary Concurso de Acreedores (similar to a Chapter 11 filing) in the Spanish courts while it develops a plan of reorganization to address its debt. DS2 said it will continue to operate as usual and continue its long-standing commitment to its customers, suppliers, partners and employees.DS2 is in the process of finalizing development of its G.hn chipset and will have samples in Q3. DS2's next generation G.hn silicon is also compatible with the installed base...