Company More Than Doubles R&D Campus With 70,000 Square Foot Lease
VANCOUVER, British Columbia--(BUSINESS WIRE)--Redback Networks, an Ericsson company (NASDAQ:ERIC), today announced a real estate lease agreement which doubles the size of the company’s research and development campus in Burnaby, a suburb of Vancouver, British Columbia.
The seven-and-one-half-year lease provides Redback with more than 67,000 square feet of office space, which can accommodate up to 300 employees. In 2008, Redback is planning to hire up to 60 additional engineering employees in Vancouver.
“We have a strong research and development team in Vancouver, and our growth in this region is testament to Redback’s continued focus on innovation and leadership in Internet-based packet networks,” said Ebrahim Abbasi, senior vice president of operations, information technology, and customer service at Redback Networks.
The Vancouver expansion comes on the heels of Redback’s San Jose campus expansion in December 2007, as well as Ericsson’s creation of a new Product Area Packet Networks unit based in Silicon Valley. The new product area was created to help Ericsson address a $14.2 billion router market in fixed and mobile broadband infrastructure.
Redback’s Vancouver campus is responsible for the development of NetOp™ policy and management software used by the company’s SmartEdge® family of network routing products. Redback routers are used by 75 percent of the largest telephone companies worldwide to deliver broadband, phone and TV services to 63M+ subscribers.
The new campus, located at 4333 Still Creek Drive, will double Redback’s campus size from 35,000 square feet to 67,000 square feet, and will include additional software and hardware labs for product development and testing. In the last 18 months, Redback has doubled its workforce to more than 1,000 people worldwide, with approximately 185 employees based in Vancouver, B.C.
About Redback Networks
An Ericsson company since January 2007 (NASDAQ:ERIC), Redback Networks manages 63+ million broadband access and triple-play subscribers for 75+ percent of the world’s largest telephone companies. Redback’s multi-service routing platform delivers next generation services such as broadband access, VoIP, IPTV, video-on-demand, and on-line gaming. Redback Networks has more than 500 carrier customers worldwide and is based in San Jose, CA. For more information, visit www.redback.com.
About Ericsson
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 185 million subscribers. The company’s portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of ‘communication for all’ through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on the Stockholm, London and NASDAQ stock exchanges.
For more information, visit www.ericsson.com or www.ericsson.mobi.
