Ciena to Provide Switches to McLeodUSA in $200 Million Pact
Ciena
(CIEN)
agreed to provide optical core switches for
McLeodUSA's
(MCLD)
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One Functional Network in a deal worth about $200 million.
With the Ciena technology, McLeodUSA's voice and data network will be completely automated, and its design will reduce capital and operating costs, McLeodUSA said in a news release.
The switches will be delivered during the first quarter, and more than 50 will be installed by the end of 2001, according to McLeod, a local telecom provider based in Cedar Rapids, Iowa.
In recent
Nasdaq
trading, Ciena, Linthicum, Md., was down $3.19, or 3.9%, to $79.69. McLeodUSA lost 38 cents, or 2.3%, to $16.06.
