Sycamore Networks to Start New R&D Center in China « H E » MN1 Exclusive :: email posted Friday, 27 July 2007Shares of Sycamore Networks Inc. (Nasdaq: SCMR) are up 15 cents, nearly 4 percent, to $4.19 on volume of 2.7 million this morning, still reeling from Tuesday’s news that prompted shares to a high of $4.34 earlier this week.
Offering network solutions for fixed line and mobile network operators across the globe, Sycamore Networks announced it will open a new Research and Development (R&D) center in China.
“Our new Shanghai R&D center will strengthen our ability to deliver best-in-class multiservice networking solutions as service providers in China and around the world evolve their infrastructure networks to accommodate increased traffic and more dynamic broadband applications,” said Daniel E. Smith, president and CEO of Sycamore Networks, in a statement.
According to the company’s statements, the new center will assist the company in its mission to provide innovative products and technologies to help clients build optimized networks.
“This is a strategic investment that we believe will accelerate new feature development and enhance the value of the solutions we bring to our customers,” stated Smith.
Sycamore Networks networking engineers will place their focus on new features for existing products as well as new product development. Stretching its business to China, the company said it expects to more than double its resources within the next year and for years to come.
“China has emerged as one of the world’s most dynamic and significant markets for leading edge communications applications and services,” said Kevin Oye, vice president of Systems and Technology. “By locating a key development center in China, we can tap the country’s world renowned university education system for top talent that can help Sycamore continue to create innovative products for both the domestic and global markets.”
