Vecima Networks Inc.

Vecima Networks Inc.

December 21, 2009 16:30 ET

Vecima Networks to Relocate Headquarters to Colwood, B.C.

VICTORIA, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2009) - Vecima Networks Inc. (TSX:VCM), the Last Mile Solution® for broadband wired and wireless networks, announces today that it has acquired property in the City of Colwood, B.C. with the intent of relocating its corporate headquarters.

"We feel Colwood is the ideal location in the Greater Victoria Regional District for Vecima's new corporate office," said Dr. Surinder Kumar, President & CEO of Vecima. "The existing infrastructure, plus the projected growth in Colwood's town center district offers a vibrant community, with easy transit and transportation access, yet still within a setting that offers breathtaking scenic beauty and some of the most affordable housing in the region. The proximity of Royal Roads University and the varied recreational and commercial venues further enhance the opportunity to grow a desirable new commercial sector in Colwood in which Vecima is excited to participate."

Mr. Bob Colwill, Vecma's VP OEM Relations & Customer Support commented, "Throughout the relocation decision process, Vecima found the City of Colwood to be a progressive, open and flexible municipality with a demonstrated desire to work collaboratively and expediently with business."

The City of Colwood is delighted that Vecima has decided to relocate in Colwood. The City has been actively looking for such businesses to locate in Colwood, and it is hoped that this particular firm will be the catalyst to draw others. Mayor Saunders pointed out that the move by Vecima brings with it 50 high caliber jobs in business management and technology, the sorts of jobs that make a growing community sustainable over the long term. He went on to say that "Vecima brings expertise in leadership, science and innovation which fit perfectly with Colwood's vision of embracing learning, and technology."

Founded in 1988, Vecima Networks has approximately 900 team members and has enjoyed over 21 consecutive years of profitability. Its main manufacturing and development operations are in Saskatoon while its Victoria location is its current corporate Head Office, housing both senior executives and an important research and development center.

In May 2009, Vecima was awarded Technology Company of the Year at the 2009 VIATeC Awards Ceremony. This honour recognizes a Greater Victoria based company that has demonstrated excellence in innovation and a commitment to the technology community while embracing sound business fundamentals.

Since its Initial Public Offering onto the Toronto Stock Exchange in November 2005, Vecima continues to receive increased recognition for its industry leading last mile hardware products, revenue and personnel growth, and long-standing culture of efficiency and profitability. Vecima was named one of
BC's largest exporters of advanced technologies in 2005 and one of the top 20 publicly traded technology companies in the province in 2006.

About Vecima Networks

Vecima Networks Inc. (TSX:VCM) designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. Vecima's hardware products incorporate original embedded software to meet the complex requirements of next-generation, high-speed digital networks. Service providers use Vecima's solutions to deliver services to a converging worldwide broadband market, including what are commonly known as "triple play" (voice, video and data) and "quadruple play" (voice, video, data and wireless) services. Vecima's solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as "the last mile", by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. Vecima's products are directed at two principal markets: Converged Wired Solutions and Broadband Wireless. The Company has also developed and continues to focus on developing products to address emerging markets such as Voice over Internet Protocol, fibre to the home and IP video.

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