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.