North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical Re: GTE to acquire BBN
Yea, it's been around the office here a few times this morning. On Tue, 6 May 1997, John Curran wrote: > FYI, > /John > > === > FOR IMMEDIATE RELEASE > > For Information Contact: > > Peter W. Thonis > BBN Corporation > (617) 873-3512 > [email protected] > > > > GTE TO ACQUIRE BBN; BBN ANNOUNCES > THIRD QUARTER FISCAL YEAR 1997 RESULTS > > Cambridge, Mass., May 6, 1997 --- BBN Corporation (NYSE:BBN) today said > that GTE Corp. (NYSE: GTE) has agreed to acquire BBN in a transaction > valued at approximately $616 million. Under the terms of the transaction, > GTE will shortly commence a cash tender offer to acquire all the > outstanding shares of BBN common stock at a price of $29 per share. > > BBN also reported third quarter revenue of $95.9 million, a 58 percent > increase from $60.8 million in the third quarter of a year ago. Revenue > for the nine month period ended March 31, 1997 was $254.1 million, an > increase of 53 percent over $165.6 million for the nine months ended March > 31, 1996. > > The revenue growth in the third quarter ended March 31, 1997 reflects > continued significant growth in BBN Planet, BBN�s Internet services > division. BBN Planet had third quarter revenue of $48.2 million, a 134 > percent increase over revenue of $20.6 million for the comparable quarter > ended March 31, 1996 and a 23 percent sequential increase over $39.2 > million in the quarter ended December 31, 1996. America Online-related > revenue was $23.2 million, representing 48 percent of BBN Planet revenue. > Revenue from BBN Planet�s value-added services, which include web hosting, > managed security, consulting and systems integration services, grew by > approximately 18 percent sequentially over the prev > > > ___________________________________________________________________________ Ed Morin [email protected] Northwest Nexus - Professional Internet Services Bellevue, WA USA Voice: 425 455-3505 Web: http://www.nwnexus.com Info: [email protected] - - - - - - - - - - - - - - - - -
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