New entry into network infrastructure architecture market
Corliant, Inc. officially announced last week its formation and entry into the growing Network Infrastructure Architecture market. The company was formed by top executives at some of the world’s largest companies, including Lucent, NCR and Cybertech, to help companies address the global trends and complex issues impacting communications technology.
Corliant provides Intelligent Internetworking solutions to service providers and large enterprises involved in designing and implementing complex communications technology platforms. The global trends impacting communications technology, primarily the growth and acceptance of the Internet and private Intranets, as well as the rapid growth of e-Business, is fueling a need for network services, officials said.
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Morgan Stanley estimates that Internet data services revenue will grow from $24 billion in 1999 to $68 billion in 2003, and International Data Corporation estimates that the worldwide demand for network services will grow from $16.4 billion in 2000 to $25.5 billion by 2003 in the enterprise market.
Corliant’s solutions are designed to empower service providers to deliver Internet data services and enterprises to attract eBusiness.
Corliant, Inc. was formed in June 200, employs about 200 and is headquartered in Trevose, Penn., with domestic offices in Providence, Chicago and San Francisco and offices in Belgium, the United Kingdom and India.
New DSL service for Rhode Island customers
Internet users in select Connecticut and Rhode Island cities can now access the Web at top speeds without tying up their phone lines, with Telocity, Inc., a leading nationwide provider of integrated broadband services for the home.
This month Telocity began offering always-on, self-installable Internet services via Digital Subscriber Line (DSL) technology to residential customers in Providence, R.I. and in Bridgeport, Danbury, Groton, Hartford, New Haven, New London and Waterbury, Conn.
”Telocity is the one-stop shop for consumers who want high-speed Internet service. Customers don’t have to call their local phone company – they just need to contact us, and we’ll take it from there,” said Telocity CEO David Finley. “Telocity turns the slow-moving Internet of today into a dynamic, high-speed adventure.”
As it introduces service in parts of Connecticut and Rhode Island, Telocity is offering customers service with no annual contract. The service allows a family to surf at speeds up to 50 times faster than traditional dial-up Internet service. Service costs $39.95 per month and includes use of the company’s Internet gateway. Call 1-800-TELOCITY or visit www.telocity.com.
Law gives e-contracts the legal edge
Conducting e-commerce in Rhode Island just got easier thanks to passage of the Uniform Electronic Transaction Act.
Sponsored by Rep. Brian Patrick Kennedy (D-Dist. 16) of Charlestown, Hopkinton and Westerly, the law gives electronic records and signatures the same validity as manual signatures and paper-based transactions. The new law replaces the Electronic Signatures and Records Act, which Rep. Kennedy sponsored in 1997.
”This is model legislation that applies to most types of business conducted over the Internet,” said Kennedy, who chairs the House Corporations Committee. “It removes barriers from e-commerce by placing digital signatures and records on the same legal footing as manual signatures and paper records.
The UETA establishes four basic rules for people who use electronic contracts or records:
A record or signature cannot be denied enforceability because it is in electronic form
A contract cannot be denied enforceability because an electronic record was used in its formation
If a law requires a record to be in writing, an electronic record satisfies the law
If a law requires a signature, an electronic signature satisfies the law
The National Conference of Commissioners on Uniform State Laws originally crafted the legislation, which 22 states have adopted since July.
Early-stage venture fund launched in Providence
Riparian Partners, Ltd., an investment banking firm based in Providence, and Village Ventures, Inc. of North Adams, Mass. have joined forces to form a locally focused early-stage venture capital fund to invest in technology-driven companies.
The new Rhode Island fund will invest in technology companies primarily in Rhode Island and southeastern Massachusetts.
Three of the partners in Riparian Partners – founder Brendan VanDeventer, Bernard Buonanno Jr. and Stephen Griffin – will participate in managing the fund, as will Village Ventures Vice President of Fund Development Gina Raimondo and Sean Marsh, vice president of capital investments.
With the Providence fund, the Village Ventures network of funds now totals seven. In September the company also announced a fund in Charlottesville, Va. Typically funds in the Village Ventures network are between $10 million and $15 million.
Van Deventer founded Riparian Partners in October 1993. Since then, he has managed investments in various industries with a total transactional value estimated at $600 million.
(Compiled from news reports and releases, print and electronic.)
