New World Network's ARCOS Cable Network is Complete and in Commercial Service
January 23, 2002
Author: New World Network
Miami - January 23, 2002...New World Network, principal owner of the Americas Region Caribbean Optical-ring System (ARCOS), the dominant regional cable system in the Americas, announced that it has completed its 8,600 km undersea network linking 15 countries in the Americas. The system is the first to provide leading-edge broadband capacity and reliable network services to previously underserved markets. The network connects the U.S., Bahamas, Turks & Caicos, Dominican Republic, Puerto Rico, Curacao, Venezuela, Colombia, Panama, Costa Rica, Nicaragua, Honduras, Guatemala, Belize and Mexico.
According to the Yankee Group Inc., there will be a 68% compound annual growth rate for Latin America broadband, with an explosion in demand from 110 Gbps for the region in 2001 to 1,492 Gbps in 2006. New World Network is poised to meet this increasing demand by deploying its technologically advanced network to provide needed connectivity to this region.
ARCOS is differentiated from other submarine cable systems by its unique coverage in a niche market, its fully redundant ring, and unique ownership structure that includes leading carriers in the Americas. ARCOS is the first network to interconnect 15 countries and enable new business opportunities within these markets. ARCOS is a protected, fully redundant ring which allows the company to ensure its customers with a reliable and secure network.
New World Network has also developed strategic partnerships with leading carriers in the region that provide in-country support as well as interconnection to existing local networks.
"Despite a difficult economic environment, New World Network has successfully completed a unique network to meet the growing needs of our customers," said Matt Milstead, COO of New World Network. "We are an anomaly in today's marketplace in that we continue to fill supply gaps in the region. This key achievement allows us to fully provide end-to-end integrated solutions to our customers throughout the Americas and in fact , acts as an economic development stimulus."
New World Network has already pre-sold 30% of its capacity to leading carriers in the region, which attests to the growing demand for broadband capacity in the Americas. The company's current customers include carriers such as Cable & Wireless, Worldcom, AVANTEL, Genuity, CANTV, and others. New World Network contracted Siemens AG, Tyco Submarine Systems Ltd., and NSW Submarine Systems Inc. to develop and install the ARCOS network throughout the 15 countries and 24 landing points in the Americas.
About New World Network
New World Network is a carrierıs carrier that provides advanced, high-speed bandwidth capacity to telecommunications companies and Internet Service Providers. The company's Americas Region Caribbean Optical-ring System (ARCOS) is the leading undersea broadband fiber-optic cable network connecting the U.S., Mexico, Central America, South America and the Caribbean. The unique hybrid ownership structure of ARCOS is co-owned by 28 carriers throughout the region and led by New World Network, the majority owner with approximately 86.5% ownership.
The companyıs financing was provided by Barclays Capital, Inc. and Bank of Montreal. The companyıs equity investors are Global Light Telecommunications (Amex: GBT) (49%), Siemens Project Ventures (19.6%), Barclays Investment Growth, Ltd. (3.9%) and the founding sponsors. Please visit http://www.nwncable.com for more information.