Qwest said it is offering incentives to retain existing enterprise customers as they near the end of their current contracts with the carrier. Under Qwest Promise of Value offers, customers receive enhanced services to their current package of telecom services at no additional cost. For example, nationwide ATM and frame relay customers who continue with Qwest are eligible for increased network functionality at no additional cost, the carrier says. Such additional functionality could include adding IP-enabled technology for any-to-any network connectivity or doubling customer bandwidth on traditional permanent virtual circuits. Research firm Yankee Group expects 2005 to be a year of "heavy" for enterprise telecom contract renewal activity. (Read the story)

Access equipment vendor Entrisphere has closed $75 million in Series C financing. Led by VantagePoint Venture Partners, the oversubscribed round included all of Entrisphere’s existing investment group - Accel Partners, Benchmark Capital, CDP Capital, Crosspoint Venture Partners, Duff Ackerman & Goodrich, El Dorado Ventures, Ontario Teachers’ Pension Plan Board and STAR Ventures. The investment will be used to further expand customer support, manufacturing operations, product development and other key functions. The company's Broadband Loop Multiplexer 1500 integrates passive optical networking; optical line termination; next-generation digital loop carrier and DSL access multiplexer; packet voice gateway; and IP and analog video with SONET and IP transport. Entrisphere also announced that Cynthia Ringo, managing director at VantagePoint Venture Partners, has joined the Entrisphere Board of Directors. (Read the story)

Service provider bookings drive another solid quarter from Cisco. The company posted third-quarter 2005 earnings a penny better than estimates on a 10% increase in revenue. Orders from service providers grew 25% - 40% in the U.S. alone. (Read the story)