Cisco, Verizon team up for telenetworking

SAN JOSE, Calif.: Cisco Systems Inc., the No. 1 maker of computer-networking

equipment and Verizon Communications Inc., the largest US local telephone

company, said on Monday they are teaming up to provide equipment and services to

Fortune 1000 companies so their employees can have the same connectivity at home

as they do at the office.

The companies said the offering will use products from the Cisco 800 Series

DSL and ISDN routers, which direct digital traffic on computer networks. The

service will be provided over a Verizon network that is based on Internet

Protocol, the lingua franca of the Internet.

"What was originally perceived as a way to increase productivity and

decrease costs, is also now recognized as a way to help employees balance

work-life issues, such as child or elder care, excessive commuting times or

continuing education," Eric Bruno, a vice president in Verizon's enterprise

solutions group, said in a statement.

Cisco said the products and services are available immediately. They will be

sold initially to financial services and government customers in New York and

Washington, D.C., largely because they were among the first to start using the

teleworking technology, the companies said.

The announcement represents a continuing effort by Cisco to push broadband

connections and services beyond the business market and into the home, for both

consumer and business uses, amid declining sales to telecommunications service

providers as global economies slow.

Shares of Cisco fell 4 cents to $14.36, down from their 52-week high of

$68.31 and shares of Verizon rose one cent to $49.05 on Friday, off from their

52-week high of $59.38.

(C) Reuters Limited 2001.