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Williams signs Boeing, CoreExpress deals

Telecommunications carrier Williams Communications said Thursday that it signed a deal with Boeing to supply telecommunications services to the aircraft maker for about $267 million. Additional terms of the 20-year deal were not disclosed. Williams operates an optical communications network that connects 125 cities in the United States. Boeing announced in May plans to move its global headquarters from Seattle to Chicago. In a separate announcement Thursday, Williams said it will buy some of the assets of CoreExpress, a telecommunications carrier that provides data services to businesses. Financial terms were not disclosed, but Williams will buy the company's optical network, intellectual property and Internet protocol capabilities. CoreExpress raised a total of $573 million as of June 2000 from investors like Benchmark Capital, Morgan Stanley and Nortel Networks but announced a restructuring plan that included layoffs last July.

Telecommunications carrier Williams Communications said Thursday that it signed a deal with Boeing to supply telecommunications services to the aircraft maker for about $267 million. Additional terms of the 20-year deal were not disclosed. Williams operates an optical communications network that connects 125 cities in the United States. Boeing announced in May plans to move its global headquarters from Seattle to Chicago.

In a separate announcement Thursday, Williams said it will buy some of the assets of CoreExpress, a telecommunications carrier that provides data services to businesses. Financial terms were not disclosed, but Williams will buy the company's optical network, intellectual property and Internet protocol capabilities. CoreExpress raised a total of $573 million as of June 2000 from investors like Benchmark Capital, Morgan Stanley and Nortel Networks but announced a restructuring plan that included layoffs last July.