VICTORIA, British Columbia--(BUSINESS WIRE)--Today, Vecima Networks Inc. (TSX: VCM) announced selection of a U.S. manufacturer for certain Entra® Fiber Access Products. Vecima has entered into an agreement with MARA Technologies USA, Inc., a subsidiary of Invotek Group Inc. (Invotek), to manufacture Vecima’s SF-4X Optical Line Terminals (OLTs) in its Holly, Michigan facility. As previously announced, Vecima intends to expand manufacturing into the U.S. for specific products in its Entra portfolio 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).
As a part of its partnership with Vecima, MARA Technologies USA expects to add approximately 100 new U.S.-based workers. “More good-paying manufacturing jobs are coming to mid-Michigan! It is great to see Vecima Networks and MARA Technologies USA expand and hire new skilled workers in Holly,” said Michigan District 8 Congressman Dan Kildee. “New laws like the Bipartisan Infrastructure Law are boosting American manufacturing and expanding access to high-speed broadband internet.”
“We’re proud that Michigan is playing an important role in bringing high-speed broadband to people all over the United States, providing opportunity for people both in our state and across America,” said state Representative Mike Mueller of Michigan’s 72nd District. “In Holly and across Michigan, we’re creating jobs that are making our communities and families stronger. We’re happy to welcome the growth created by Vecima and MARA Technologies USA.”
The BEAD Program appropriates $42.45 billion for states, territories, the District of Columbia (D.C.), and Puerto Rico (P.R.) to utilize for broadband deployment, mapping, and adoption projects. Expanding manufacturing of certain Vecima Entra Fiber Access OLTs to the U.S. offers service providers an industry-recognized OLT option for their build out of fiber broadband networks under the BEAD program.
Vecima’s industry-leading portfolio of 10G PON products has 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 successful with service providers due to strong technical and commercial differentiation,” said Clay McCreery, Chief Operating Officer of Vecima. “With MARA Technologies USA as our U.S. manufacturing partner, our customers can deploy flexible, interoperable OLTs as part of their efforts to deliver high-speed fiber broadband to all communities – it’s our shared vision and the foundation of ‘Power in connectivity.’”
“We’re excited to partner with Vecima to bring their industry-leading SF-4X, Fiber-to-the-Premises product to our facility in the U.S.,” said Paul LaCroix, CEO of Invotek. “With the help of the BEAD program, Vecima and Invotek are proud to help deliver broadband to unserved and underserved communities across the United States. Through this agreement, MARA Technologies USA will manufacture Vecima’s product by adding about 100 highly skilled jobs in our state-of-the-art Holly, Michigan facility.”
“The $42.45B NTIA BEAD broadband infrastructure funding program provides the potential to connect every American to fiber broadband by the end of the decade,” said Gary Bolton, President and CEO, Fiber Broadband Association. “Today’s announcement that certain Vecima Networks’ Fiber Access OLTs will be manufactured by MARA Technologies USA in Holly, Michigan helps ensure Build America, Buy America (BABA) compliance required by the NTIA program. We are excited to see that the 1,400+ fiber broadband service providers will be able to source BABA-compliant Fiber Access products from Vecima.”
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. Learn more at vecima.com/network-access.
About Invotek Group Inc.
Invotek Group Inc. supports OEMs through its manufacturing and engineering centers in the United States, Canada, and China. Invotek's strategy is to work with customers to develop and engineer world-class processes that deliver optimized performance in cost and quality. We do this through in-depth, open-book, collaborative efforts with your design and engineering teams that ensures we become "Your Factory". We have a long history with broadband electronics manufacturing and over the past twenty years have developed world-class capabilities with IoT product development and power management systems for the Electric Vehicle market. For more information, visit Invotek at www.invotekgroup.com.
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.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions.
Forward looking information in this news release includes, but is not limited to, the following statements: This critical milestone meets Buy America requirements for use of Broadband Equity, Access, and Development (BEAD) Program funding; Vecima intends to expand manufacturing into the U.S. for specific products in its Entra portfolio to meet the proposed BABA requirements under the BEAD Program; as a part of its partnership with Vecima, MARA Technologies USA expects to add approximately 100 new U.S. based workers; expanding manufacturing of certain Vecima Entra Fiber Access OLTs to the U.S. provides service providers with an industry recognized OLT option to build out their fiber broadband networks under the BEAD program; new laws like the Bipartisan Infrastructure Law are boosting American manufacturing and expanding access to high-speed broadband internet.
The forward-looking statements are based on the current expectations of the management of Vecima and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations, and assumptions relating to Vecima’s ability to manufacture certain products in the United States.
A more complete discussion of the risks and uncertainties facing Vecima is disclosed under the heading “Risk Factors” in 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.
