REDMOND, Wash., April 10, 2000 — MediaOne International and Microsoft Corp. today announced that Microsoft has acquired MediaOne International’s stake in TITUS Communications, the second largest broadband provider in Japan. This investment is a continuation of Microsoft’s efforts to accelerate the convergence of broadband technologies and advances Microsoft’s vision for a future in which consumers and businesses will access the next generation of Internet services any time, any place and from any device.
I’m delighted we have sold our stake in TITUS to Microsoft,
“said Gary Ames, president and CEO of MediaOne International.”
The sale is in line with our strategy of selling a significant portion of our international portfolio in preparation for the merger into AT & T.
Microsoft will utilize this investment to extend the execution of its broadband vision to the Japanese market and demonstrate the unique potential presented when voice, data and video services are offered by the same company. The two remaining partners in TITUS, Japanese companies Itochu and Toshiba, will retain their equity positions in the company and continue to support its operation.
We are excited to have a company of Microsoft’s stature join us in bringing broadband technology to the Japanese market,” said Lee Daniels, president and CEO of TITUS.
“We are very excited about the opportunity to participate in the tremendous growth potential for broadband convergence and advancement of the Japanese cable business through our investment in TITUS Communications,”
said Hank Vigil, vice president of Consumer Strategy and Partnerships at Microsoft Corp.
“TITUS’ leadership in integrating video, telephony and Internet access, combined with the advanced state of its broadband network, make it an ideal match for Microsoft’s endeavors to help speed the development of broadband networks and lay the groundwork for next-generation services.”
Microsoft will continue to support TITUS Communications’ current management team and strategy for the delivery of integrated broadband services in Japan. Terms of the acquisition were not disclosed.
TITUS, a major multiple system operator in Japan founded in 1995, owns seven franchises, offering cable TV, telephony and Internet access services through its broadband cable network. TITUS is the leader in providing “world class” communication and entertainment products, linking people together and enriching the communities it serves.
About MediaOne International
MediaOne International is part of MediaOne Group (NYSE
), one of the world’s largest broadband communications companies, bringing the power of broadband and the Internet to customers in the United States, Europe and Asia. The company also has interests in some of the fastest-growing wireless communications businesses outside the United States. For 1999, MediaOne Group produced $7.8 billion in proportionate revenue. On May 6, 1999, the company entered into an agreement to merge with AT & T.
Founded in 1975, Microsoft (Nasdaq
) is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software – any time, any place and on any device.
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