VICTORIA, British Columbia, September 27, 2023--(BUSINESS WIRE)--Vecima Networks Inc. (TSX: VCM) today announced its intent to expand manufacturing into the U.S. for certain products in its Entra® portfolio. By establishing a U.S. manufacturing program, Vecima expects to increase its operations to meet the proposed Build America, Buy America (BABA) requirements under the Broadband Equity, Access, and Deployment (BEAD) Program, one of the programs established under the Infrastructure Investment & Jobs Act (IIJA). Vecima fully supports the BABA goals of the IIJA.
Presently, two of Vecima’s broadband access products – the Entra® SF-4X Remote Optical Line Terminal (OLT) and the Entra® EN8100 Remote PHY Access Node – are compliant with the BABA requirements pertaining to the Middle Mile Broadband Infrastructure Program, another IIJA program, and have been widely deployed across North America.
Vecima has been engaged with the U.S. Department of Commerce’s National Telecommunications Information and Administrative Agency (NTIA), which is currently finalizing rules related to BABA domestic sourcing requirements for the BEAD Program. Vecima anticipates, based on the steps the company is taking today, that Vecima will be part of NTIA’s list of BABA-compliant vendors for the BEAD program upon finalization of those requirements and its U.S. manufacturing operations.
Vecima’s industry-leading portfolio of 10G PON products have achieved strong market adoption, and, in March 2023, the Dell’Oro Group named Vecima the global market share leader in both Remote MACPHY and Remote OLT Distributed Access Architecture (DAA) solutions.
"Our current Entra fiber and cable access platforms have been broadly successful with service providers due to strong technical and operational differentiation," said Clay McCreery, Vecima Chief Operating Officer. "Today’s announcement that we’re planning to build products in the United States demonstrates our continued commitment to the marketplace and to empowering communities with equitable access to the broadband networks that fuel progress."
With broad support for all next-generation cable access technologies, high-value legacy services, and proven industry-leading interoperability, the networks of tomorrow are deployable today without compromise. Learn more at vecima.com/network-access.
About Vecima Networks
Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver groundbreaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at vecima.com.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts", "projects", "scheduled" and similar expressions, and the negative of such expressions.
Forward looking information in this news release includes without limitation, any statements (express or implied) respecting: Vecima’s intent to expand manufacturing into the U.S. for certain Entra® line products; Vecima’s expectation that it will be on NTIA’s list of BABA-compliant vendors for the BEAD program upon finalization of the related BABA rules and its U.S. manufacturing operations.
Forward-looking information are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. There can be no assurance that future developments will be those that have been anticipated. The material expectations, assumptions, and other factors used in developing the forward-looking information set out herein include or relate to the following, without limitation: Vecima will be able to successfully execute its plans, strategies, and objectives; the specifications and manufacturing processes of the Entra® SF-4X Remote Optical Line Terminal (OLT) and the Entra® EN8100 Remote PHY Access Node are compliant with the Middle Mile Broadband Infrastructure Program and will continue to be compliant; Vecima’s ability to manufacture certain products in the United States.
Although management believes that the forward-looking information herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Vecima's business, as more particularly described and referred to in the "Risk Factors" section the Company’s Annual Information Form dated September 21, 2023, as well as the Company’s continuous disclosure filings with Canadian securities regulatory authorities available at www.sedarplus.ca.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and Vecima disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
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