Business News - News Briefs July 2000

Posted: 07/2000

News Briefs

Adesta, NC Telecom Plan High-Speed Network in Colorado

Construction is expected to be completed this year on a nearly 100-mile digital fiber optic communications network designed and built by Omaha, Neb.-based Adesta Communications Inc.
(www.adestacommunications.com), a subsidiary of Able Telcom Holding Corp.

Northwest Colorado Telecom, which is owned by UBET Telecommunications of Roosevelt, Utah, and the White River Electric Association in Meeker, Colo., issued the contract.

The network, which will begin in Rifle, Colo., and will include the cities of Meeker and Craig, also will complement the 1,200-mile fiber optic communications network
Adesta, formerly MFS Network Technologies, is building under an April 1999 agreement with the Colorado Department of Transportation
(www.dot.state.co.us).

That network will crisscross the state, connecting Alamosa, Colorado Springs, Craig, Denver, Durango, Grand Junction and Pueblo. Upon completion, it will have an estimated value of $100 million.

GlobeNet Shareholders OK $1 Billion Takeover

GlobeNet Communications Group Ltd.
(www.globenetgroup.com) shareholders have approved the company’s acquisition by 360networks inc. (www.360.net) in a stock and debt deal, originally announced in March, worth approximately $1 billion. Bermuda-based
GlobeNet, an independent developer of international fiber optic cable facilities, operates the BUS-1 cable system, an undersea network linking the United States and Bermuda, and is expanding that network by laying a 14,000-mile fiber optic ring, Atlantica-1, to connect North and South America.

Choice One, US Xchange Agree to $518 Million Merger

ICPs Choice One Communications Inc.
(www.choiceonecom.com) and US Xchange LLC
(www.usxchange.com) have agreed to a merger valued at approximately $518 million. Under terms of the agreement, Choice One will purchase US Xchange stock for approximately $311 million in cash and 7 million shares of newly issued Choice One common stock. Choice One does not expect to assume any US Xchange debt.

The merger also gives Choice One access to US Xchange’s fiber through a 20-year indefeasible right to use
(IRU). US Xchange’s network comprises nine Lucent Technologies Inc. (www.lucent.com) 5ESS switches, four Lucent remote switching devices, 48 collocations and a 13-node data network. On a pro forma basis, the combined companies had $65 million in annualized first-quarter 2000 revenue.

USV Telemanagement to Acquire Exstream Data

Adding enhanced fax and e-mail services to its bundled telecommunications services offering, USV Telemanagement Inc.
(www.usvt.com) has agreed to acquire Exstream Data Inc.
(www.exdata.com), formerly E-Fax Communications Inc. The combined company will be renamed
E*Comnetrix.

USV, through its wholly owned ICP subsidiaries, sells telecommunication, data, integrated T1, Internet, synchronous DSL
(SDSL) and other integrated access and broadband services to commercial customers. Exstream provides fax broadcast, fax on demand and
e-mail broadcast services to businesses worldwide, including more than a dozen Fortune 500 companies.

US WATS Becomes Capsule Communications

Switch-based carrier US WATS Inc. has re-incorporated in Delaware and changed its name to Capsule Communications Inc.
(www.capsulecom.com). The re-incorporation will not result in any change in the physical location, business, management, assets, liabilities, net worth or employee benefit plans of the company. The directors and officers of the US WATS prior to the re-incorporation will serve as the directors and officers of the Delaware corporation.