Texaco Press Release - Texaco Selects Apogee Networks' Netcountant Accountability
The following Press Release was issued by Apogee Networks.
ROCHELLE PARK, NJ, August 28, 2000 - Apogee Networks, the leading provider of Internet Protocol (IP) Content rating, settlement and billing platforms, has been selected by Texaco (NYSE: TX) to implement its NetCountant Accountability platform. The purchase of Apogee Networks' award winning NetCountant™ Accountability solution will enable Texaco to define, monitor, and rate all data usage on its global network by departments, subsidiaries and partners. NetCountant Accountability will facilitate Texaco's management of its bandwidth usage and growth.
"Apogee Networks' scalability and flexibility to identify and rate a network as extensive as ours is critical as more complex bandwidth applications are being used on the Internet," said M. Richard Diaz, General Manager, Texaco Global Information Services. "This year we have selected strategic partners to provide the necessary infrastructure and technology support for the company's expanding internal and external e-business portfolio and NetCountant Accountability will be instrumental in identifying our bandwidth requirements to sustain our rapid growth in this area."
Apogee Networks' President & COO, Tom Goldman said, "We are very excited to have been chosen by Texaco. Texaco's global network presence is an ideal application for NetCountant Accountability. We believe that Texaco will realize considerable savings in bandwidth expenditures as well as see an improvement in network efficiency."
About NetCountant™ Accountability
NetCountant Accountability is a unique solution that provides Enterprise network customers with the capability of capturing, identifying and allocating all usage on their IP networks. By using NetCountant Accountability, corporate users can bill their departments, business units, and subsidiaries for actual IP usage on their backbone networks. This capability translates into significant bandwidth cost reductions as the network is used more efficiently. Customers currently using NetCountant Accountability include those in financial services, banking, government, pharmaceutical, manufacturing and media.
Operating in more than 150 countries, Texaco and its affiliates explore for and produce oil and natural gas; manufacture and market high-quality fuels and lubricant products; operate trading, transportation, and distribution facilities; and produce alternate forms of energy for power and manufacturing. As part of its e-business strategy, Texaco has formed strategic alliances with leading technology companies, as well as equity participation in Internet-based companies to facilitate internal efficiencies, improve customer service and add new streams of revenue. For more information on Texaco visit www.texaco.com.
About Apogee Networks
Headquartered in Rochelle Park, New Jersey, Apogee Networks, Inc. is the recognized leader in developing and deploying advanced IP Content Rating/Settlement and IP Billing solutions for IP Content Distributors, ASPs, ISPs, Carriers, Wireless Internet Providers and Enterprise customers. Apogee Networks' NetCountant™ product line provides full end-to-end content, revenue settlement and IP billing capabilities. Uniquely, NetCountant Billing provides real-time billing, flexible service creation and high scalability to meet the challenges of rapid customer growth. Apogee Networks' NetCountant Content Collection and NetCountant Settlement platforms provide advanced IP Content aggregation, processing, and revenue settlement capabilities for Content Distributors. NetCountant Accountability provides Global 2000 Enterprise and IP Network customers with the capability to better manage and allocate IP usage thereby realizing significant bandwidth cost savings. NetCountant Performance provides Global IP Networks with advanced measurement and diagnostic capabilities that increase overall network performance. The company's product recently was awarded Networld+Interop's Best-of-Show Award. Apogee Networks is a Charter member of the Internet Protocol Detail Record (IPDR) Association.
Apogee Networks investors include Fidelity Ventures Limited, Granite Ventures (formally H&Q Venture Associates), Oak Investment Partners, INTEL, BBVA, NetOne Systems Company Limited, CTC, and several private investors.
SAFE HARBOR: This press release contains a number of forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In particular, statements made concerning Apogee Networks' and Texaco's expected performance and financial results in future periods are based upon Apogee Networks' and Texaco's current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors known to Apogee Networks and Texaco, among others, could cause Apogee Networks' and Texaco's actual results to differ materially from those described in the forward-looking statements: mechanical and technological failures; decreased demand for motor fuels, natural gas and other products; worldwide and industry economic conditions; increasing price and product competition; and higher costs, expenses and interest rates. In addition, you are encouraged to review Texaco's latest reports filed with the SEC, including Texaco's Annual Report on Form 10-K filed with the SEC on March 24, 2000, which describes a number of additional risks and uncertainties that could cause actual results to vary materially from those listed in the forward-looking statements made in this press release.
Updated: August 2000