UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) January 12, 2000
C-COR.net Corp.
(Exact name of Registrant as specified in its charter)
Pennsylvania 0-10726 24-0811591
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
60 Decibel Road, State College, Pennsylvania 16801
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (814) 238-2461
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events.
On January 12, 2000, the registrant issued a press release, which is attached to
this Current Report as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99.1 Press Release, dated January 12, 2000, of C-COR.net Corp.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
C-COR.net Corp.
(Registrant)
January 18, 2000
By: /s/ David A. Woodle,
Name: David A. Woodle
Title: President and Chief Executive Officer
C-COR.net and Fortress Technologies Announce Agreement to Provide Data Security
Solution for Internet Over Cable
C-COR.net to Integrate Fortress Security Technology Into Its Suite of Broadband
Management Services
STATE COLLEGE, Pa., Jan. 12 /PRNewswire/ -- C-COR.net (Nasdaq: CCBL - news)
today announced it has invested $3,500,000 in Fortress Technologies, Inc., a
leading security networking company. Fortress has developed advanced
encryption-based products for secure communications over the Internet. The
equity investment in Fortress Technologies represents approximately a 5 percent
ownership interest. In connection with the investment, C-COR.net and Fortress
Technologies have agreed on key terms of a reseller agreement, under which the
companies would jointly offer a network-based data security solution, utilizing
the Fortress-patented Secure Packet Shield(TM) (SPS) technology, for residential
and business cable modem customers. In addition, under the terms of the proposed
reseller agreement, C-COR.net would become the exclusive provider of this
security solution to the domestic broadband cable operator market. C-COR.net
anticipates offering this security solution in the second half of Calendar Year
2000.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990924/CCORLOGO )
The Fortress SPS technology is an advanced system of network-layer, plug-
and-play encryption, authentication, data integrity and data compression. The
technology has been validated by NSA's (National Security Agency's) Security-
Proof-of-Concept-Consortium (SPOCK), composed of 45 companies and 16 government
agencies. It is a unique and proprietary method of compressing and encrypting
packets of digital information and transmitting the packets in such a way that
the integrity and security of the information is maintained without degrading
network performance. By operating at the network layer of the digital
communication stack, little meaningful information is made accessible to
potential eavesdroppers. SPS is applicable to a broad spectrum of digital
communications and is capable of securing IP (Internet Protocol) digital
transmissions, whether it is over a wire line or wireless communication. As
such, the technology provides the capability to secure digital transmissions
from cellular telephones to digital fax machines, digital video, digital voice
and digital data communications.
Commenting on the arrangement with Fortress, David A. Woodle, CEO and President
of C-COR.net, stated, ``With the proliferation of the Internet into business
applications, both consumer and commercial users have recognized the need to
protect and secure information as it is transported across this shared
communication medium. This concern has recently been reinforced by President
Clinton's proposed boosting of the government's FY 2000 $1.75 billion budget for
computer security by $251 million to combat increasingly sophisticated
hackers(1). Because cable is becoming a significant pipeline for the Internet
into homes here and abroad, we believe it is important to make available to our
broadband cable operator customers the technology that provides cable
subscribers easy-to-use security products and services. Fortress Technologies
offers a cost-efficient and effective solution for network security. We are,
therefore, looking forward to including this capability as a core feature of our
Broadband Management Services, including our Network Operations Center.''
Raymond L. Weadock, President and CEO of Fortress Technologies, concurred with
this assessment by stating, ``The original Internet was not designed for today's
business or consumer use, but for scientific, government and educational
purposes. As a result, the original design of the Internet did not include high
security. Our network security solution, including our VPN (Virtual Private
Network), has incorporated encryption technology to minimize the security risks
created by the original design of the Internet. Our products based on SPS
technology are designed to operate at speeds in excess of 80 megabits per second
line capacity, are fully automated, can be integrated into any heterogeneous
network and any SNMP (Simple Network Management Protocol) application, and are
scaleable. We believe that adding this Internet security solution to the network
life cycle services already provided by C-COR.net will be of significant benefit
to both the cable industry, in terms of incremental revenue streams and network
access control, and the consumer, in terms of confidence in the integrity of the
network.''
C-COR.net provides products and support to customers as they plan, design, build
and maintain complex broadband communications networks. C-COR.net is a developer
and global supplier of robust, high-quality RF (Radio Frequency) and advanced AM
(Amplitude Modulation) fiber optic distribution electronics for two-way HFC
(Hybrid Fiber/Coax) networks. C-COR.net's newest fiber optic products, the Mux
Node and Mini Node, facilitate evolving fiber-rich architectures to deliver
analog video, digital video, high-speed data and telephone applications.
C-COR.net also offers comprehensive customer service for the full HFC broadband
network life cycle, including network engineering and design, system activation,
integration of Internet applications over cable, network optimization and
management, and system maintenance. C-COR.net's multi- million dollar 24 hours
per day/7 days a week Network Operations Center (NOC) in Atlanta, Georgia,
provides state-of-the-art, real-time network monitoring with responsive cable
modem Help Desk Service.
Fortress Technologies, Inc., headquartered in Tampa, Florida, is a leading
developer of products designed to secure communications utilizing public and
private IP networks as the data communication backbone. The company's
NetFortress security product line includes hardware and software that simplify
the creation of Virtual Private Networks as an alternative to expensive
networks, including Frame Relay, ATM, leased lines, and 800 number dial-ups. The
VPN created by NetFortress products isolates communications by using encryption,
authentication, access control, data integrity, accounting and non-repudiation
to securely extend its reach to remote sites, individual remote workers, and
business partners over IP networks.
C-COR.net, founded over 45 years ago, designs and manufactures robust,
high-quality network distribution products for two-way hybrid fiber/coax (HFC)
networks. C-COR.net's headquarters is in State College, Pennsylvania, with
production and service facilities in State College and Tipton, Pennsylvania;
Tijuana, Mexico; Santa Clara, California; and Suwanee, Georgia. C-COR.net also
maintains offices in Almere, The Netherlands, and Hong Kong. C-COR.net's common
stock is listed in the Nasdaq National Market under the symbol CCBL. C-COR.net's
website is http://www.c-cor.net.
Some of the information presented in this announcement, including, but not
limited to the Company's expectations in connection with the Company's strategic
plan and its arrangement with Fortress Technologies, Inc., constitutes forward
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Although the Company believes that its expectations are
based on reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual results will not
differ materially from its expectations. Factors which could cause actual
results to differ from expectations include the successful implementation of the
reseller agreement with Fortress Technologies; the ability to integrate
Convergence.com's and Silicon Valley Communications' businesses; the timing of
orders received from customers; the gain or loss of significant customers;
changes in the mix of products sold; changes in the cost and availability of
parts and supplies; fluctuations in warranty costs; new product development
activities; the Company's ability to implement its strategies of product,
service, and global market expansion; the Company's ability to successfully
implement new products and services and enhance existing products and services;
economic conditions affecting domestic and international markets; regulatory
changes affecting the telecommunications industry, in general, and the Company's
operations, in particular; competition and changes in domestic and international
demand for the Company's products; continued successful implementation of Year
2000 measures; and other factors which may impact operations and manufacturing.
For additional information concerning these and other important factors which
may cause the Company's actual results to differ materially from expectations
and underlying assumptions, please refer to the reports filed by the Company
with the Securities and Exchange Commission.
