7, 2000), Adatom was selected as an exclusive agent by CPTNC
to obtain a turn-key operation, including equipment, technology and training, for the implementation of fiber optics production in China at an estimated cost of $150 million.
Liang Xi, President of the CPTNC
, stated, "The CPTNC
is very confident and enthusiastic about Adatom's relationships with its respective Chinese governmental joint venture partners.
In what has almost become a cliche for Silicon Valley, four guys meet at the Sloan Fellowship program at Stanford and with their own capital develop a company that in the five months since becoming a publicly traded company announce an international trading deal with the CPTNC
in China, raise $4 million, and launch a robust B to B offering in their Adatom.
The CPTNC is an organization officially launched in 1997 with the support of several Chinese governmental and private institutions to enable increased sales and ensure systematic and efficient worldwide distribution of Chinese manufactured goods.
Adatom and the CPTNC will establish a joint venture company located in Beijing, China, to work directly with the CPTNC.
Additional support will be provided by subsidiary CPTNC organizations including the centers for transportation, trade, Internet and method of payments.