WATERLOO, ONTARIO--(Marketwire - March 16, 2010) -
Attention: Technology Editors
Sandvine, (TSX:SVC)(AIM:SAND) a leading provider of intelligent broadband network solutions for cable, DSL, FTTx, fixed wireless and mobile operators, today announced that it has entered into an agreement with the Province of Ontario in respect of certain innovative research and development activities.
Under the agreement, Sandvine will be eligible to receive funding equal to 11% of related, eligible costs incurred in Ontario from February 2009 to February 2014 to a maximum of $18.7 million. In addition, at the end of the agreement, the company will be entitled to receive up to an additional 4% of such costs (to a maximum of $6.8 million) if certain Ontario-based job targets have been met.
"The provincial government has demonstrated a real commitment to Ontario as a technology leadership centre, both within Canada and globally," said Dave Caputo, Sandvine's president and chief executive officer. "This funding gives Sandvine a tremendous opportunity to continue to advance our research and development activities right here at home."
ABOUT SANDVINE
Sandvine's network policy control solutions focus on protecting and improving the quality of experience on the Internet.
Our award-winning network equipment and software helps DSL, FTTx, cable, fixed wireless and mobile operators better understand network traffic, manage network congestion, create new services and revenues, mitigate traffic that is malicious or undesirable to subscribers, deliver QoS-prioritized multimedia services and increase subscriber satisfaction. With service provider customers in more than 70 countries serving hundreds of millions of broadband and mobile data subscribers, Sandvine is enhancing the Internet experience worldwide.
Certain statements in this release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws and are made pursuant to the "safe harbor" provisions of such laws. Statements related to potential benefits of, and demand for, Sandvine's products or services including statements with respect to the features and benefits that may be achieved through the use of Sandvine's products or services and the relative position of these products vis-à-vis competitive offerings in the industry are forward-looking statements which are subject to certain assumptions, risks and uncertainties. These risks and uncertainties include such factors as rapid technological changes, changes in customer architecture and equipment deployment requirements, the introduction of competing technologies, the risks and uncertainties of new product introductions, dependence on key supplies and other similar factors that may cause the actual results, performance or achievements of Sandvine to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Sandvine assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.