US Starcom Signs Letter of Intent to spin off a Subsidiary and AT&T Wins 13-Site VPN and Remote Access Contract
12 February 2007
Telecommunications industry news provided by Financial News USA (OTC: FNWU). US Starcom (OTC: USTA) recently announced that it has signed a letter of intent with its independent subsidiary, Infinite Technology Group, dba US Starcom Technologies, for the spinoff of the subsidiary, which will now be called Relativity, Inc. This company will focus on IT infrastructure, security, risk management and cost reduction for the investment banking and private equity markets.
AT&T Inc. (NYSE: T) recently announced that TPO Displays Corp (TPO) has selected AT&T to deploy a Virtual Private Network (VPN) solution to connect TPO's multiple sites with support for voice and data communications. Formed in June 2006 by the merger of Taiwan's Toppoly Optoelectronics Corp. and Netherlands-based Philips Mobile Display Systems (MDS) unit, TPO has become one of the world's leading providers of mobile display solutions. Verizon Business (NYSE:VZ) recently announced that its newly-formed joint venture in India with the Videocon Group, Verizon Business India, has applied for a license to provide international long-distance (ILD) services. Following Verizon Business' recent announcement of its participation in the building of a Pacific undersea cable, the application recognizes the growth potential of Asian markets. Qwest Communications International Inc. (NYSE: Q) recently reported fourth quarter and full year 2006 results highlighted by steady revenue, a full year and four consecutive quarters of net income and earnings per share, and 10 consecutive quarters of year-over-year margin expansion. For the year, Qwest reported earnings of $593 million, or $0.30 per diluted share compared with a loss of $779 million, or ($0.42) per share in 2005.
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