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The Internet was born in 1975 when the US Defense Advanced Research Project Agency (DARPA) commissioned MIT, UCLA and the University of California in Santa Barbara (UCSB) to develop a reliable digital network for computer communication. One year after government funding, Dr. Ossama Hassanein began working at Bell Northern Research on the commercial applications of the Internet. By 1990, the Internet “backbone” was built (just like highways). It was clear that “all what remains” was to access the Internet highways. A Rising Tide market of connectivity was about to develop. To address the emerging opportunity, Ossama assembled the UCSB team that worked on the Internet under contract from DARPA, and launched ACC. The Company was financed by two strategic partners and six leading venture capitalists – a total of $14 million was committed between 1990 and 1992. As chairman and CEO of ACC, Ossama raised the funds to accelerate market share acquisition and to aggressively expand internationally. He built the Company through strategic alliances not only for distribution (Alcatel, BT, and a global network of resellers in 60 countries), but also for product development to complement internal R&D. An Egyptian team, under the leadership of Dr. Tarek Kamel, current Minister of Information and Communications in Egypt, worked with the Santa Barbara team to develop products well adapted to the global market. This team was also responsible for the introduction of the Internet to Egypt. Through the 1990s, ACC enjoyed a significant ramp in sales growing from zero to $54 million in 1998. Its routers, which allowed connectivity to the Internet, were used in the world’s most advanced networks including those of Wal-Mart (the largest company in the world), BMW, Bloomberg, La Poste, Swedish Parliament, British Telecom, and 3,000 other leading clients. In September 1998, Ericsson announced its intention to acquire ACC for $285 million in cash, providing shareholders and employees with rich returns on their investment. |
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