PARIS, Jul 29 (MARKET WIRE) —
Technicolor and Verizon sign memorandum of understanding to provide next
generation high speed broadband home router for Verizon
Technicolor (Euronext Paris : FR0010918292 ; NYSE : TCH) today announced
that it has signed a memorandum of understanding with Verizon to become
one of Verizon’s suppliers to provide its next-generation FiOS broadband
home routers. These routers aim to enhance the experience of residential
customers served by its advanced fiber-to-the-home access network.
Technicolor’s broadband routers, designed and built to Verizon’s exacting
specifications, will accelerate data transmissions over in-home coaxial
wiring, further bolstering Verizon’s fiber-to-the-home access network. The
new broadband home routers will be ready for deployment in the 2011
timeframe.
Verizon FiOS provides unmatched bandwidth capacity with very low latency
to deliver very fast broadband over an all-fiber-optic network straight
to the home, delivering unsurpassed performance and reliability and a
triple play offer of voice, high-speed Internet and TV service. As of the
end of second-quarter 2010, the FiOS network passed 15.9 million premises
and had 3.8 million FiOS Internet and 3.2 million FiOS TV customers.
Technicolor and Verizon are currently negotiating a final three-year,
strategic agreement. Under this agreement, Technicolor will provide FiOS
broadband home routers and will collaborate with Verizon on new
technologies to enable Verizon customers to access and enjoy the most
powerful communications and media experiences.
“With this announcement, Technicolor is entering the U.S. market for its
world leading portfolio of gateway products,” said Vince Pizzica, Head of
Digital Delivery at Technicolor. “Our strategy has always been to develop
products which leverage broadband communications for service providers,
while relying on open standards to ensure simple and secure
implementation. This alliance with Verizon is a compelling validation of
that strategy, and we look forward to working together with Verizon over
the next three years and beyond, as it is one of the world’s most
pioneering communication providers.”
“The innovative FiOS network has changed the technology and entertainment
landscape by delivering customer satisfaction levels exceeding those of
cable competitors. These broadband home routers will enhance our already
unrivaled access network and enhance the overall FiOS experience,” said
Dick Lynch, Chief Technology Officer of Verizon Communications. “With
Technicolor, we have forged an alliance that will further support our
effort to provide our customers the most robust in-home entertainment
experience with products that are simple to use and exceedingly reliable.”
***
Technicolor is a company listed on NYSE Euronext Paris and NYSE stock
exchanges, and this press release contains certain statements that
constitute “forward-looking statements” within the meaning of the “safe
harbor” of the U.S. Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on management’s current expectations
and beliefs and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from the future results
expressed, forecasted or implied by such forward-looking statements. For a
more complete list and description of such risks and uncertainties, refer
to Technicolor’s filings with the U.S. Securities and Exchange Commission
and its filings with the French Autorite des marches financiers.
***
About Technicolor
With more than 95 years of experience in entertainment innovation,
Technicolor serves an international base of entertainment, software, and
gaming customers. The company is a leading provider of production,
postproduction, and distribution services to content creators and
distributors. Technicolor is one of the world’s largest film processors;
one of the largest independent manufacturers and distributors of DVDs
(including Blu-ray Disc); and a leading global supplier of set-top boxes
and gateways. The company also operates an Intellectual Property and
Licensing business.
For more information: www.technicolor.com
Press contacts:
Technicolor Press Office
+33 1 41 86 53 93
technicolorpressoffice@technicolor.com
Bill Kula, APR
Verizon
972-718-6924
william.kula@verizon.com
Technicolor Investor relations: +33 1 41 86 55 95
investor.relations@technicolor.com
Technicolor Shareholder relations:
shareholder@technicolor.com
Technicolor Industry Analyst Relations: +33 1 41 86 59 39
industryanalystrelations@technicolor.com
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