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MarketScreener Homepage  >  Equities  >  Nyse  >  Ciena Corporation    CIEN

CIENA CORPORATION

(CIEN)
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Ciena : Helps Banco Votorantim Move to the Cloud - Ciena

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06/21/2019 | 05:07am EDT

Banco Votorantim, Brazil's fifth largest private bank in assets, will implement Ciena's (NYSE: CIEN) industry-leading packet-optical platform to modernize its database and migrate to the cloud in an effort to provide innovative banking services to more than four million customers.

Key Facts:

* Headquartered in São Paulo, Banco Votorantim operates in the corporate and investment banking, asset management, private bank and retail segments.

* Banco Votorantim's deployment of Ciena's WaveLogic-powered 6500 Packet-Optical Platform will allow the bank to scale its Fibre Channel connectivity up to 32Gbps and its Ethernet connectivity up to 100Gbps on a single and compact platform. This will enable seamless migration to the cloud from Banco Votorantim's data center for improved data accessibility, disaster recovery services and network flexibility.

* Banco Votorantim is modernizing its network and migrating to a cloud environment to accelerate capacity expansions, reduce operational costs and ensure "always-on" access to applications and data. The new Ciena-built network will lay the foundation to support up to 16Tbps of traffic and provide the agility, reliability and ultra-low latency required to manage mission-critical applications.

* In addition, Banco Votorantim will have access to Ciena Services, which include onsite and operations assistance, technical support, training and knowledge transfer to support the digital platforms that underpin the bank's mission of staying close to the customer.

Executive Comments:

* "Working with Ciena reinforces our commitment to accelerating digital transformation within the finance sector. The investments we've made to our infrastructure during the last several years, including the upcoming migration of some of our applications to the cloud, will position us to provide better experiences for our customers."

* - Luis Eduardo dos Santos, Technology Manager, Banco Votorantim

* "Banco Votorantim is leading the charge for the next-generation of banking in Brazil. Investing in technologies like our 6500 will provide a more reliable network to better support customer transactions that are increasingly taking place virtually versus face-to-face."

* - Fernando Capella, Brazil Country Manager, Ciena

About Banco Votorantim

Banco Votorantim is Brazil's fifth largest private bank in assets. It has a strong shareholder base, Banco do Brasil, one of the largest financial institutions in the country, and Votorantim S.A. - one of the largest private conglomerates in Latin America. In recent years, Banco Votorantim has grown and expanded its scope of operations, seeking to increase its revenue base through a diversified business portfolio, partnerships and excellence in customer service. Further information at www.bancovotorantim.com.br.

About Ciena

Ciena (NYSE: CIEN) is a networking systems, services and software company. We provide solutions that help our clients create the Adaptive Network(TM) in response to the constantly changing demands of their users. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world's most agile networks with automation, openness and scale. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com.

Note to Ciena Investors

You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that are based on our current expectations, forecasts, information and assumptions. These statements involve inherent risks and uncertainties. Actual results or outcomes may differ materially from those stated or implied, because of risks and uncertainties, including those detailed in our most recent annual and quarterly reports filed with the SEC. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies and can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

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(C) 2019 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
BANCO DO BRASIL S.A. -0.26% 45.73 End-of-day quote.-1.63%
CIENA CORPORATION 2.87% 42.2 Delayed Quote.21.11%
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Financials (USD)
Sales 2019 3 534 M
EBIT 2019 448 M
Net income 2019 227 M
Finance 2019 256 M
Yield 2019 -
P/E ratio 2019 27,1x
P/E ratio 2020 20,1x
EV / Sales2019 1,73x
EV / Sales2020 1,54x
Capitalization 6 369 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 50,70  $
Last Close Price 41,07  $
Spread / Highest target 33,9%
Spread / Average Target 23,4%
Spread / Lowest Target -0,17%
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Managers
NameTitle
Gary B. Smith President, Chief Executive Officer & Director
Patrick H. Nettles Executive Chairman
James E. Moylan Chief Financial Officer & SVP-Finance
Stephen B. Alexander Chief Technology Officer & Senior Vice President
Lawton Wehle Fitt Independent Director
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