360networks (NASDAQ: TSIX and TSE: TSX) announced it will provide high-speed optical services to Verio, a Web hosting company and Internet services provider. 360networks will provide these services over the next three years on routes in North America and Europe as well as on 360atlantic, its transatlantic submarine cable. The value of the agreement is projected at approximately $30 million.
360networks will provide Verio, a subsidiary of NTT Communications Corporation (NTT Com), with OC-48 (2.5 gigabits per second) optical VPN (virtual private network) transport service on routes such as Chicago to New York, Dallas to Atlanta and Washington, D.C. to Palo Alto, California. The optical VPN service will enable Verio to upgrade to OC-192 (10 gigabits per second) circuits at any time.
In addition, 360networks will provide Verio with an STM-16 (2.5 gigabits per second) circuit on 360atlantic and multiple STM-4 (622 megabits per second) circuits on routes connecting London, Amsterdam and Frankfurt. Under this agreement, NTT Communications Corporation and its affiliates may also purchase services from 360networks.
About 360networks:
360networks offers broadband network and colocation services to telecommunications and data-centric organizations. For more information, visit www.360.net.
About Verio Inc.:
Verio Inc. is a wholly owned subsidiary of NTT Communications Corporation (NTT Com), which provides long distance and international telecommunications. Verio is an operator of Web sites for businesses and a provider of Internet services. For more information, visit www.verio.com.