AOL Expands GTE Internetworking Contract By $500 Million Over Two Years
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IRVING, Texas, November 4, 1997 -- GTE Internetworking, a business division of GTE Corp., today announced that it has been awarded a $500 million extension of its contract with America Online to continue to expand and operate its portion of AOLnet, the world's largest high-speed, dial-up network. The contract expansion brings the total value of the contract to approximately $1.2 billion.
The original contract, signed by BBN Corporation and AOL in March 1995, was valued at $55 million over five years. The contract has been expanded several times, most recently in April 1997, with an additional $200 million. This latest expansion extends the contract through June 2002.
George H. Conrades, President of GTE Internetworking, said, "We are delighted to extend our relationship with AOL. We have a commitment to be the best in the industry at solving our customers' complex internetworking issues. By having us play a significant role in helping to deploy AOLnet, AOL can concentrate on its specialty, compelling content, and provides a better service for its users."
GTE Internetworking, a unit of GTE Corporation (NYSE:GTE), includes the recently acquired BBN Corporation, which 28 years ago developed the ARPANET, the forerunner to today's Internet, and GTE Intelligent Network Services, which provides Internet services to consumers and small businesses.
GTE Internetworking offers customers, from consumers to Fortune 500 companies, a full spectrum of Internet services using IP networking technologies. GTE Internetworking delivers complete network solutions, including dial-up and dedicated Internet access, high-performance Web hosting, managed security, network management, systems integration, and Web-based application development for integrating the Internet into business operations. GTE Internetworking draws upon BBN's expertise in funded research and development of advanced technologies, including satellites, digital radio, multigigabit routers, security, and speech, and GTE's strong existing telecommunications services, including local and long distance, wireless, paging, video, and Internet.
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