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Con Edison Communications Announces $10 Million Strategic Relationship With EurekaGGN
NEW YORK, Feb. 23 /PRNewswire/ -- Con Edison Communications, Inc. (CEC) has announced the formation of a strategic relationship with EurekaGGN, a provider of integrated communications services. This new alliance, which is expected to generate up to $10 million in revenues for CEC over the course of the agreement, will enable CEC to gain access to as many as 150 New York City buildings currently served by EurekaGGN.
Under the terms of the five-year agreement, CEC will offer access to its fiber optic broadband network to EurekaGGN, which will, in turn, provide the telecommunications and Internet services within the buildings where EurekaGGN already has access, including voice services, dedicated Internet access and value-added Internet Protocol-based application services.
Peter Rust, president and CEO of CEC, said, "We are excited to have a proprietary third party building arrangement with EurekaGGN, a prominent Building Local Exchange Carrier. This is a significant strategic development for CEC as we move to gain access to hundreds of buildings in New York and Westchester. EurekaGGN is a recognized leader in providing a variety of network services and software applications to the end-user, and we are excited about working with them to enhance the value of services they bring to their customers."
Joe Gillette, CEO of EurekaGGN, added, "We're delighted to be partnering with Con Edison Communications. With access to CEC's fiber optic network and diverse building entrances, we have enhanced our ability to serve our business customers in the New York City area with high performance telecommunications services. This agreement enables us to cost-effectively build a converged last mile network."
Established in December 2000 through the merger of Eureka Broadband and Gillette Global Network, EurekaGGN is a leading facilities-based provider of bandwidth-intensive network services. With operations in New York/New Jersey, Philadelphia, and Southern California, EurekaGGN has deployed a super-regional strategy that has achieved a dominant position in the nation's two largest markets: New York and Los Angeles. As an integrated communications provider, the company offers its commercial customers a full suite of voice services, dedicated Internet access and value-added IP-based application services, metropolitan area and wide area networks, and multimedia conferencing services. For additional information, please visit the company's Web site at http://www.eurekaggn.com/.
About Con Edison Communications, Inc.
Con Edison Communications, Inc. (CEC) is a wholly-owned subsidiary of Consolidated Edison, Inc. CEC, a carrier's carrier, will offer a comprehensive range of value-added products and services designed to enhance the performance of its customers' networks. CEC will provide managed data transport services, leased capacity services, and plans to offer in-building optical distribution to multiple classes of customers including long-distance carriers, competitive local exchange carriers and Internet, cable, wireless and video companies. CEC is installing and will operate a state-of-the-art fiber optic network in the NYC metro area connecting approximately 1,000 buildings by year-end 2005. Additional information about CEC is available at http://www.electricfiber.com./
About Consolidated Edison, Inc.
Consolidated Edison, Inc. (NYSE: ED) is one of the nation's largest investor-owned energy companies, with approximately $9 billion in annual revenues and $16 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and four competitive energy and telecommunications businesses. For additional financial, operations and customer service information, visit the Consolidated Edison, Inc. web site at http://www.conedison.com./
SOURCE Con Edison Communications, Inc.
CONTACT: Robert Jewels of Con Edison Communications, 212-324-5030, Robert@electricfiber.com; or Jill Gleeson of EurekaGGN, 212-404-5126, Jill.Gleeson@EurekaGGN.com; or John Fidler or L. Kathryn Lee, both of A. Lavin Communications, 212-290-9540, email@example.com, for Con Edison Communications, Inc./
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