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WiMAX Investment Acquisition |
Vecima acquires investment in Redline
Communications
Other Topics:
Multi-State WiMAX Network
Vecima
October 31, 2008
VICTORIA, Canada- Vecima Networks Inc. ("Vecima or the Company")
(TSX:VCM), a leading provider of equipment supporting broadband access
to cable, wireless and telephony networks, today announced it has
acquired common shares of Redline Communication Group Inc. (TSX:RDL)
("Redline") through the facilities of the Toronto Stock Exchange,
following which, Vecima now owns 1,742,600 or 11.37% of the common
shares of Redline (based on 15,327,140 common shares reported by Redline
as outstanding). |
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The shares were acquired for investment purposes.
Vecima believes its investment in Redline will ultimately pay off as the
financial markets stabilize and technology roadmaps become clearer with
Redline. Vecima, which is acting alone in its investment acquisition,
may increase its investment to less than 20% of Redline's common shares.
Vecima has no confidential information with respect to Redline.
About Vecima Networks
Vecima Networks Inc. (TSX:VCM) designs,
manufactures and sells products that enable broadband access to cable,
wireless and telephony networks. Vecima's hardware products incorporate
original embedded software to meet the complex requirements of
next-generation, high-speed digital networks. Service providers use
Vecima's solutions to deliver services to a converging worldwide
broadband market, including what are commonly known as "triple play"
(voice, video and data) and "quadruple play" (voice, video, data and
wireless) services. Vecima's solutions allow service providers to
rapidly and cost-effectively bridge the final network segment that
connects the system directly to end users, commonly referred to as "the
last mile," by overcoming the bottleneck resulting from insufficient
carrying capacity in legacy, last mile infrastructures. Vecima's
products are directed at two principal markets: Converged Wired
Solutions and Broadband Wireless. The Company has also developed, and
continues to focus on developing, products to address emerging markets
such as Voice over Internet Protocol, fibre to the home and IP video.
www.vecima.com
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