Vecima acquires investment in Redline Communications

About this update from Vecima Networks Inc.

[{"type":"text","content":"\n\n\n\nVICTORIA, Oct. 31 /CNW/ - Vecima Networks Inc. ("Vecima or the Company")\n(TSX:VCM), a leading provider of equipment supporting broadband access to\ncable, wireless and telephony networks, today announced it has acquired common\nshares of Redline Communication Group Inc. (TSX:RDL) ("Redline") through the\nfacilities of the Toronto Stock Exchange, following which, Vecima now owns\n1,742,600 or 11.37% of the common shares of Redline (based on 15,327,140\ncommon shares reported by Redline as outstanding).\n\n\nThe shares were acquired for investment purposes. Vecima believes its\ninvestment in Redline will ultimately pay off as the financial markets\nstabilize and technology roadmaps become clearer with Redline. Vecima, which\nis acting alone in its investment acquisition, may increase its investment to\nless than 20% of Redline's common shares. Vecima has no confidential\ninformation with respect to Redline.\n\n\nAbout Vecima Networks\n\n\nVecima Networks Inc. (TSX:VCM) designs, manufactures and sells products\nthat enable broadband access to cable, wireless and telephony networks.\nVecima's hardware products incorporate original embedded software to meet the\ncomplex requirements of next-generation, high-speed digital networks. Service\nproviders use Vecima's solutions to deliver services to a converging worldwide\nbroadband market, including what are commonly known as "triple play" (voice,\nvideo and data) and "quadruple play" (voice, video, data and wireless)\nservices. Vecima's solutions allow service providers to rapidly and\ncost-effectively bridge the final network segment that connects the system\ndirectly to end users, commonly referred to as "the last mile," by overcoming\nthe bottleneck resulting from insufficient carrying capacity in legacy, last\nmile infrastructures. Vecima's products are directed at two principal markets:\nConverged Wired Solutions and Broadband Wireless. The Company has also\ndeveloped, and continues to focus on developing, products to address emerging\nmarkets such as Voice over Internet Protocol, fibre to the home and IP video.\nwww.vecima.com\n\n\nForward-Looking Statements\n\n\nCertain statements in this news release may constitute forward-looking\nstatements which involve known and unknown risks, uncertainties and other\nfactors which m...

More updates from Vecima Networks Inc.