SOURCE: Nayna Networks

March 08, 2006 06:00 ET

Nayna Networks and Crompton Greaves, Ltd. Announce Strategic Partnership

Targets Opportunities in Growing India Telecom Market

SANTA CLARA, CA -- (MARKET WIRE) -- March 8, 2006 -- Nayna Networks, Inc., (OTC BB: NAYN), a provider of next generation network solutions headquartered in Santa Clara, California, USA and Crompton Greaves Ltd., a global power solutions provider and a well recognized manufacturer and supplier of telecom products in the Indian market today, announced the finalisation of a strategic partnership agreement to market telecom products in India. Compton Greaves reported 2005 Gross Sales of 2152.78 Rs. Crores (Rs. 21,527,800,000 ~ US$486 million).

Under the terms of the partnership agreement, both parties will work together to pursue sales opportunities for Nayna's SDH solutions, including the STM-4 AN12000, STM-1 AN3000 and the STM-1 CPE. The India marketplace for broadband technology and services is thriving. India is one of the fastest growing telecom markets in the world with government analysts estimating it will grow from less than 3 million broadband subscribers to 20 million by 2007. Nayna's products meet or exceed the latest general requirements established by the Government of India and are approved for use in the India Telecom Network. Sales, Customer and Technical Support for India will be jointly handled out of Nayna's regional headquarters in Mumbai, India and Crompton Greaves' Telecom offices in Bangalore, India.

"We are pleased that a well-established firm such as Crompton Greaves has chosen to partner with us," said Suresh Pillai, Vice President and Managing Director, Nayna Networks India. "Their experience and solid reputation in the Indian market coupled with Nayna's state-of-the-art product line will be an unbeatable combination in the Indian market."

"We have been providing the Abundance Networks AN12000 and AN3000 broadband Ethernet over SDH/SONET solutions to our customers in India. We are pleased with the products' features and performance. Now that Nayna has acquired Abundance, we look forward to working with the Nayna team to focus on specific customer opportunities for the complete SDH product line and also take advantage of the synergistic possibilities to expand the product palette, especially with the major carriers in India," said K. N. Neelkant, General Manager, CG Telecom.

About Crompton Greaves Limited

Crompton Greaves manufactures, supplies and installs a variety of Telecom Products and Systems such as Electronic Switches, Fibre Optic Transmission Equipment, Access Products, EPABXs, Telephone Instruments, Data Modems, etc. Crompton Greaves has modern state-of-the-art manufacturing facilities, marketing/sales and service networks, and experienced R&D professionals. More information is available at http://www.cgl.co.in/. Crompton Greaves is a publicly traded company on the Bombay Stock Exchange under the symbol CROM.BO.

About Nayna Networks, Inc.

Nayna Networks, Inc. delivers next generation network solutions. More information is available at http://www.nayna.com/.

In addition, all shareholders and interested parties are invited to sign into our private Corporate Guest Book at http://www.CorporateGuestBook.com/?NAYN to receive timely updates and information on future developments.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For more information regarding Forward Looking-Statements and related risks, see the "Risk Factors" section of Nayna's filings with the SEC. The company undertakes no obligation to revise or update any forward-looking statements for any reason.

All products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

Contact Information

  • Contact Information

    Nayna Networks, Inc.
    Jim Connor
    408-956-8000 x831
    Email Contact