AT&T, Microsoft Announce Agreements to Accelerate Deployment of Broadband Services to Millions of Consumers – Stories

AT&T, Microsoft Announce Agreements to Accelerate Deployment of Broadband Services to Millions of Consumers – Stories

NEWYORKANDREDMOND,Wash。

May6,1999ATTandMicrosoftCorp。

todayannouncedaseriesofagreementsinwhichthecompanieswillworktogethertoacceleratethedeploymentofnext-generationbroadbandandInternetservicestomillionsofAmericanhomes。

Undertheagreements,Microsoftwillpurchase$5billionofATTsecurities,ATTwillincreaseitsuseofMicrosoftsTVsoftwareplatforminadvancedset-topdevices,andbothcompanieswillworktogethertoshowcasenewdigitalcableservicesintwoU。

S。

cities。

WeregratifiedthatMicrosoftsharesourstrategyofusingbroadbandcabletobringanewgenerationofdigitalcommunications,informationandentertainmentservicestomillionsofAmericanfamilies,

saidATTChairmanandCEOC。

MichaelArmstrong。

WelookforwardtoexpandingourrelationshipwithMicrosoftandaddingitscreativityandtechnicalknow-howtoourown。

Thiswillacceleratetheworkwerealreadydoingwithmanyothersoftwareandhardwarecompanies。

OuragreementtodayrepresentsanimportantstepinMicrosoftsvisionofmakingtheWeblifestyleareality,

saidMicrosoftChairmanandCEOBillGates。

WorkingwithATT,aleaderinthedeliveryofcableandtelephonytechnologies,wewillexpandaccesstoanevenricherInternetandtelevisionexperienceformillionsofpeople。

ATTsaiditwillincreaseitsuseofMicrosoftsWindowsCE-basedoperatingsystemsoftwareinitsdigitalset-topdevices,whichenableapplicationsfromanumberofcompaniestodelivercommunications,entertainmentandinformationservices。

ATTcurrentlyhasacommitmenttousetheWindowsCE-basedsystemin5millionset-topdevices。

Underthenon-exclusiveagreementannouncedtoday,ATTwillexpanditsWindowsCE-basedlicensetocoveranadditional2。

5millionto5millionset-topdevices。

UponthecompletionofATTsproposedmergerwithMediaOneandfollowingthepreviouslyannouncedcableswapsandsalesnegotiatedwithComcast,ATTsownedandoperatedsystemswillpassapproximately25millionhomes。

Thecompanyhassaidthatitintendstouseset-topsoftwarefrommultiplesuppliers。

ATTwillalsolicenseMicrosoftclient/serversoftwarethatsupportsarangeofdigitalservicessuchasemailandinteractivetelevisionentertainment。

ThetwocompaniesplantodeployMicrosoftsclient/serverTVsoftwareintwoshowcasecitiesbythesecondquarterof2000。

ATTalsoplanstouseMicrosoftsclientsoftwareinconjunctionwiththird-partyserversoftwareinanadditionalcity。

Microsoftssoftwareprovidesanopenplatformdesignedtoworkwithawidevarietyofhardwaredevicesandsupportaricharrayofapplicationsandservices。

Microsoftwillpay$5billionfornewlyissuedATTconvertibletrustpreferredsecuritiesandwarrants。

Thepreferredsecurities,whichwillhaveafacevalueof$5billionandbepricedat$50persecurity,willmakeaquarterlypaymentof62。

5centspersecurity。

Thepreferredsecurities,whichwillbeconvertibleinto66。

7millionsharesofATTcommonstockatapriceof$75pershare,willhaveamaturityof30years,andtheconversionfeaturecanbeterminated,undercertainconditions,afterthreeyears。

Thewarrantswillbeexercisableinthreeyearstopurchase40millionATTcommonsharesatapriceof$75pershare。

ATTwillusetheproceedstofundworkingcapitalandcapitalexpenditures。

Inaddition,aspartoftheseagreements,MicrosoftwillpurchaseMediaOnes29。

9percentinterestinTelewestCommunicationsplcthroughatax-freeexchangeofMicrosoftshares,subjecttocertainapprovals。

ATT(NYSE:T,www。

att。

com)istheworldspremierproviderofvoiceanddatacommunications,withmorethan80millioncustomers,includingbusinesses,governmentandconsumers。

ATTrunstheworldslargest,mostpowerfullong-distancenetworkandthelargestwirelessnetworkinNorthAmerica。

ThecompanyisaleadingsupplierofdataandInternetservicesforbusinessesandthenationslargestdirectInternetserviceprovidertoconsumers。

ATTalsoprovideslocaltelephoneservicetoagrowingnumberofbusinesses。

Foundedin1975,Microsoft(NasdaqMSFT)istheworldwideleaderinsoftwareforpersonalcomputers。

Thecompanyoffersawiderangeofproductsandservicesforbusinessandpersonaluse,eachdesignedwiththemissionofmakingiteasierandmoreenjoyableforpeopletotakeadvantageofthefullpowerofpersonalcomputingeveryday。


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