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Cox Picks Vyyo's 3-GHz System

Cox Communications plans to use Vyyo’s passive 3-gigahertz spectrum-overlay equipment in new network builds and in its existing coax networks to provide business services, Vyyo said Monday.

Cox has placed initial orders for 3-GHz passive equipment from “multiple Cox systems,” according to Vyyo. Financial details of the deal were not disclosed.

Vyyo’s spectrum-overlay system is supposed to let operators provide at least four times the bandwidth using existing coax plant -- for about 10% the cost of building fiber-to-the-premises network, the company claims.

Vyyo is hoping customer wins with the likes of Cox will help pull it out of the red: For the year ended Dec. 31, 2006, the company had $8 million in sales and a net loss of $29.4 million ($1.69 per share), Vyyo reported in a separate release Monday.

In another part of its turnaround strategy, Vyyo last week announced that it had hired Wayne Davis -- former chief technology officer at Charter Communications -- as CEO, and appointed Jim Chiddix, ex-CTO at Time Warner Cable, as vice chairman.  It also said it received $35 million in financing from Goldman Sachs, of which $17.5 million will be available as new funding and $17.5 million will pay off notes issued to Goldman in 2006.