Sandvine Inc.
AIM : SAND

Sandvine Inc.

March 21, 2006 08:48 ET

Sandvine IPO the Latest Sign of Waterloo Region's Flourishing Technology Sector

WATERLOO REGION, ONTARIO--(CCNMatthews - March 21, 2006) -

Media Release: Attention Business Editors

Area boasts deep support system for early-stage tech companies

Today's announcement by Waterloo-based Sandvine Inc. (AIM:SAND) that it is going public is the latest in a string of successes for the area's fast-growing technology sector, says Communitech: Waterloo Region Technology Association.

"In less than five years, Sandvine has grown from a start-up to a public company attracting customers and investors from around the world," said Communitech president Iain Klugman. "We're excited for them, and pleased to show once again that Waterloo Region is the best place in Canada to launch a technology start-up company."

Sandvine today announced its initial public offering (IPO) and listing on the London Stock Exchange's AIM market. Launched in Waterloo Region by locally-based founders in 2001, Sandvine has quickly become a world leader in developing equipment that enables broadband service providers to manage their networks, reduce operational costs and increase profitability.

The Sandvine IPO closely follows previous announcements that Google and Oracle each established a presence in Waterloo Region through acquisitions, and the news that two area software firms -- Software Innovation and LiveHive Systems -- had closed significant rounds of venture capital funding. Another major milestone for the community, the launch of the Accelerator Centre at the University of Waterloo Research and Technology Park, is scheduled to take place next month.

Between 1996 and 2004, Waterloo Region accounted for 10 per cent of all high-tech IPOs on the Toronto Stock Exchange. World-renowned industry leaders like Research In Motion (NASDAQ:RIMM)(TSX:RIM), DALSA (TSX:DSA), Descartes Systems Group (TSX:DSG), and MKS (TSX:MKX) -- all founded in Waterloo Region -- were among the companies going public over that period.

In addition to successful homegrown technology companies, high-tech giants such as Adobe, IBM, Oracle, Agfa, NCR and McAfee have also established operations in Waterloo Region. Google held a recruitment event last week at the University of Waterloo to help expand its Waterloo office.

Waterloo Region is home to over 400 technology companies employing over 26,000 people. Tech firms in the area are served by such regional initiatives as Communitech, CTT, Accelerator Centre, WatStart, ViaTech, and over $100 million in locally-managed venture capital focused on early-stage companies.

"We have well-known billion-dollar successes like RIM, ATS and Open Text, and at the same time have created what may be the deepest support system in Canada for early-stage and start-up companies," said Klugman. "We expect to see many other promising start-ups follow Sandvine's footsteps to global success."

About Communitech

Communitech is a member-based organization driving the growth and success of Waterloo Region's tech sector through a vibrant network of leadership, connections and promotion. For more information, please visit www.communitech.ca. The booklet, "Making Magic in Waterloo Region: A Report on the Exceptional Investment And Entrepreneurial Potential of Canada's Hottest High-Tech Location" from Communitech is available online at www.communitech.ca/includes/html/resources/361_makingmagicforweb.pdf

Contact Information