Riverstone Opens R&D Facility in India
October 25 2004 - 10:00AM
PR Newswire (US)
Riverstone Opens R&D Facility in India Ethernet Company Commits
to Region by Establishing Indian Subsidiary BANGALORE, India, Oct.
25 /PRNewswire-FirstCall/ -- Riverstone Networks (Pink Sheets:
RSTN.PK), a leading supplier of carrier Ethernet solutions, today
announced the opening of a new R&D facility in Bangalore,
India, under its subsidiary Riverstone Networks India Private
Limited. The new R&D operation is intended to further
strengthen Riverstone's #1 rated Ethernet over IP/MPLS service
delivery technology (source: Heavy Reading, June 2004) by providing
the California-based company with an additional pool of high
quality engineering talent, thereby accelerating its R&D
cycles. Employing approximately 50 local networking engineers, the
Bangalore facility is an extension of Riverstone's design and
development efforts in the U.S. Riverstone expects to grow
multi-shore engineering teams over the next year as part of its
ongoing investment in carrier Ethernet routing technology. "By
multi-shoring, we are able to significantly grow our overall
engineering population while protecting our existing intellectual
capital," said Praveen K. Mandal, Vice President, Engineering,
Riverstone Networks. "Working in unison with their U.S. colleagues,
the Bangalore team will provide us with the opportunity to
substantially boost our technological leadership while continuing
to deliver top-notch, carrier-grade Ethernet solutions." Riverstone
Networks, Inc. is a leading provider of carrier-class solutions for
next generation metro Ethernet networks. Riverstone's metro routers
and provisioning solutions deliver the ease of use, cost
effectiveness, and flexibility that carriers require in meeting
their customers' networking requirements in support of voice,
video, and data services. Riverstone uniquely permits carriers to
offer homogeneous services across existing revenue-generating
networks and new Ethernet deployments. Except for the historical
information contained herein, the matters set forth in this press
release, including the Company's expectations concerning the
ability of the Bangalore R&D facility to strengthen the
Company's technology leadership and the growth of the Company's
U.S.- and India-based engineering organizations are forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements speak only as of the date hereof and are
subject to risks and uncertainties that may cause actual results to
differ materially. These risks and uncertainties include the
ability to hire and retain talented engineering employees, the
ability to continue develop products that are judged to be
technology leaders, and the risks detailed from time to time in the
Company's SEC reports, including without limitation the reports on
Form 8-K and Form 10-Q filed with the SEC on September 2, 2004. The
Company disclaims any intent or obligation to update or revise
these forward-looking statements. NOTE: "Riverstone Networks" and
"Riverstone Networks" alongside the sphere with a swirl is a
registered trademark of Riverstone Networks, Inc. Riverstone
Contact: Amy Huitt Riverstone Networks 408-878-6918 DATASOURCE:
Riverstone Networks, Inc. CONTACT: Amy Huitt of Riverstone
Networks, Inc., +1-408-878-6918, or Web site:
http://www.riverstonenet.com/
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