RE: Sandvine investing $170 million...FYI, another report of today's press conference...
Sandvine Innovation Creating Jobs!
McGuinty Government Supports Leading-Edge Technology in Waterloo
By Now Media News
Ontario is helping a leader in Information and Communications Technology (ICT) develop the next generation of network solutions, while creating up to 75 new positions, and retaining 195 high-value jobs.
Waterloo-based Sandvine is an award-winning provider of Internet equipment and software that helps network operators to:
·Better understand network traffic,
·Manage network congestion,
·Create new services,
·Mitigate malicious traffic,
·Deliver Sensitive multimedia traffic with a high degree of quality and reliability.
Sandvine is developing new products that will help network operators create new service plans and manage network traffic. These products will improve Internet subscribers' experience and meet growing consumer demand for high-band width, quality-sensitive application, like streaming video.
Ontario is providing a grant of up to $25.5 million as part of Sandvine's total investment of nearly $170 million over five years. This investment supports the province’s five-year Open Ontario Plan to create new job opportunities and help promote economic growth.
Sandra Pupatello, Minister of Economic Development and Trade who made the announcement today at the Accelerator Centre said "We are committed to helping innovative companies develop and commercialize new products they can sell to the world, while creating high-value jobs here in Ontario. As a government we are determined to make the province a global leader in ICT and digital media."
With customers in more than 80 countries, serving over 300 million fixed and mobile subscribers, Sandvine has been identified by industry analyst Infonetics Research as the leader in its market. Sandvine has been named one of "The Best Workplaces in Canada" for four consecutive years.
Dave Caputo, President and Chief Executive Officer for Sandvine said “The Government of Ontario continues to demonstrate its commitment to Ontario as a leading technology centre. The provinces’ support gives Sandvine a tremendous opportunity to continue to advance our research and development activities right here at home in Waterloo.”
Others from the government in attendance today at the Press Conference were Leeanna Pendergast, MPP for Kitchener/Conestoga, John Milloy, MPP Kitchener Centre, and Mayor Brenda Halloran as well as staff and clients of the Accelerator Centre and Communitech.
https://www.cambridgenow.ca/npps/story.cfm?nppage=1848