[9132] in North American Network Operators' Group
Re: GTE to acquire BBN
daemon@ATHENA.MIT.EDU (Ed Morin)
Tue May 6 12:39:07 1997
Date: Tue, 6 May 1997 09:24:34 -0700 (PDT)
From: Ed Morin <edm@halcyon.com>
To: John Curran <jcurran@bbnplanet.com>
Cc: nanog@merit.edu, Nikos Mouat <nikm@ixa.net>,
Michael Brownstein <mike@ixa.net>, Jeff Sterling <sterling@ixa.net>,
Larry Berg <larryb@ixa.net>, Bill Lipscomb <bill@ixa.net>
In-Reply-To: <v02140b03af94d3280061@[199.94.220.15]>
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
> pthonis@bbn.com
>
>
>
> 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, BBNís 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 Planetís 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 edm@nwnexus.com
Northwest Nexus - Professional Internet Services Bellevue, WA USA
Voice: 425 455-3505 Web: http://www.nwnexus.com Info: info@nwnexus.com
