Vertel Announces Agreement With
Lucky Goldstar Information Communications Ltd.
Vertel’s $1 Million
Contract Solidifies its Market Position in Korea
Woodland Hills, September 13, 1999 – Vertel® Corporation
(NASDAQ:VRTL), a leading
global provider of management solutions for telecommunications networks
and Korea’s top supplier of telecommunications management network software
(TMN), announced today a $1 million contract with Lucky Goldstar Information
Communications, Ltd. (LGIC), a premier manufacturer of next generation
telecommunications equipment in Seoul, Korea.
“This agreement allows LGIC to use Vertel’s latest generation
embedded intelligent network agent to build an effective and competitive
management interface for our rapidly growing asymmetric digital subscriber
line (ADSL) products,” said Kyung-Kuk Lee, director of Transmission System
Research Lab at LGIC. “Superior technology and commitment to the
access market were the key factors in our decision to standardize on Vertel’s
embedded management solutions.”
As a major player throughout the history of communications in Korea,
LGIC is recognized for their ability to deliver leading edge, integrated
communications networks. For several years, Vertel has provided LGIC with
telecommunications software as they have expanded their operations and
established a substantial global presence in this market.
“This agreement consolidates our position in the Korean marketplace
and reinforces our strong relationship with LGIC,” said Bruce Brown, president
and chief executive officer of Vertel. “It also bolsters our position
in the global access market, which is the highest growth market segment
in the telecommunications industry.”
The system that LGIC will deploy using Vertel’s management solution
is a fiber loop carrier (FLC), one of the most popular transmission and
access products in the world and the most highly used product for broadband
access in Korea. Providing an open, standards-based management interface
on this system will allow LGIC to extend their geographic reach and decrease
their time-to-market, giving them an opportunity to significantly expand
their market share and increase revenue.
Vertel is a leading global provider of carrier-grade, broadband Internet
software infrastructure and management solutions. Vertel offers a wide
range of technologies and applications, supporting end-to-end network and
service management with the highest quality of service for network operations.
Vertel’s solutions are deployed worldwide by service providers, network
operators, software vendors, and systems integrators. Vertel also delivers
turnkey management applications that fit individual customer requirements
through its Professional Services organization. The company is based in
Woodland Hills, California and has sales offices throughout the world.
About LGIC
Lucky Goldstar Information & Communications, Ltd. (LGIC)
is an integrated information/communications company which provides customers
with the utmost satisfaction by supplying advanced information/communication
equipment including exchange systems, transmission devices and terminals
since its establishment in 1979. LGIC leads the knowledge-driven society
of the 21st century for richer and diversified lives of individuals with
advanced technologies. Particularly, LGIC is striving to become the world's
best transmission equipment manufacturer by integrating all its capabilities
to form the backbone role in establishment of the superhighway information
network.
CONTACT VERTEL:
For corporate information:
Sandy Christopher
(818) 227-5735
email: sandy-christopher@vertel.com
For product information:
Darrin Stone
(818) 227-1451
email: darrin-stone@vertel.com
Contact Ketchum
Rob Goodman
(916) 449-6168
email: rob.goodman@ketchum.com
Vertel is a registered trademark of Vertel. All other
trademarks are the property of their respective owners.
"Safe Harbor" Statements under the Private Securities
Litigation Reform Act of 1995: Except for the historical information presented,
the matters discussed in this news release are forward looking statements
that involve risks and uncertainties, including timely development, introduction
and success of new and enhanced products in existing and new markets, the
acceptance of new technologies, the impact of competitive products and
technologies, pricing, currency exchange risks, governmental and regulatory
developments, and other risks detailed from time to time in public disclosure
filings with the U.S. Securities and Exchange Commission (SEC) by Vertel.
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