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Sycamore, Storm Telecom Ink $100M Deal

CHELMSFORD, Mass., and LONDON -- Sycamore Networks (NASDAQ: SCMR), a leader in intelligent optical networking, and Storm Telecommunications Limited (Storm), the first Optical- switched Service Provider (OSP), today announced that the two companies have extended their strategic multi- year agreement. Under the agreement now worth up to US $100 million, Sycamore will supply SN 16000 Intelligent Optical Switches and SN 8000 Metro Core (MC) transport platforms to support the second phase of Storm’s international intelligent optical network build out. This expansion, which includes an ability to purchase an additional $60 million worth of Sycamore equipment, follows the initial agreement of $40 million announced in March 2000. Storm’s deployment of the SN 16000 commenced in Q4 2000 and deployment of the SN 8000 MC began in January 2001. In addition to providing products and services, Sycamore will also provide lease financing to Storm for the purchase of Sycamore’s equipment.

"Our optically switched network is changing the economics of the next-generation IP network by making it possible for our service provider customers to respond to market dynamics in a matter of hours,” said Steve Sanderson, CEO of Storm. “Sycamore’s solutions enable an efficient mesh-based network topology, giving the Storm network the advantages of greater flexibility and resilience, creating new revenue possibilities that we would not have been able to offer with traditional switches.”

http://www.sycamorenet.com
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