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Telecommunications industry

Telecomm and Lucent Sign Multi-Million Dollar Deals with Global TeleExchange and PrivateBancorp Announces Net Interest Income Growth

Strategic Insights

— 1 min read

Telecomm Industries Corp. and Lucent Technologies Inc. have secured significant deals with the Global TeleExchange Inc. (GTX) and PrivateBancorp Inc. respectively. Meanwhile, PrivateBancorp has reported a rise in net interest income, while Telecomm's Internet service provider unit, NetVision.Com, has completed an acquisition that strengthens its position in the market.

Key Takeaways:

  • Lucent Technologies Inc. has signed a $25 million agreement with the Global TeleExchange Inc. to build a carrier-class ATM backbone network.
  • The Global TeleExchange Inc. is creating an electronic market for commodity trading of global bandwidth and minutes via the Internet.
  • Lucent will supply telecommunications switching equipment, access concentrators, and network management systems as part of the deal.
  • PrivateBancorp Inc.'s fourth-quarter profit rose to $977,000, or 20 cents per share, up from $892,000, or 25 cents per share, the same quarter a year ago.
  • The number of outstanding shares grew to 4.8 million from 3.6 million in 1998, contributing to the decline in per-share earnings.
  • Net interest income increased to $3.85 million from $3.2 million in 1998, demonstrating the success of the company's business strategy.
  • Telecomm Industries Corp.'s Internet service provider unit, NetVision.Com, has completed the acquisition of Global Marketing Concepts Inc. (GMC), a move to strengthen its position in the Louisville, Ky., market.
  • The deal with GMC is expected to enhance NetVision's capabilities in serving businesses in the Louisville market.

Statistics:

  • Lucent and GTX have signed a $25 million agreement to build a carrier-class ATM backbone network.
  • PrivateBancorp's net interest income rose to $3.85 million in 1998, up from $3.2 million in 1998.
  • The number of outstanding shares at PrivateBancorp grew to 4.8 million from 3.6 million in 1998.
  • PrivateBancorp's earnings per share declined to 20 cents in 1998 from 25 cents in 1997.
  • NetVision.Com has acquired GMC, expanding its presence in the Louisville, Ky., market.
  • The acquisition is expected to enhance NetVision's capabilities in serving businesses in the market.

Sources:

  • "Lucent Signs $25 Million Deal" in the Daily Herald, 1999.
  • "PrivateBancorp Earnings Increase" in the Chicago Tribune, 1999.
  • "Telecomm Finishes Acquisition" in the Daily Herald, 1999.

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