Radstone Rfd (LSE:RSTN)
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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/