Posted on August 18th, 2017 in News
If you have DragonWave Networks equipment, you may want to pay attention to what’s happening. It affects your network.
Earlier this month, the Canadian company had announced the resignations of four of its board of directors, including president and CEO Peter Allen, and the court-directed appointment of KSV Kofman Inc. as receiver and manager over all its property, assets, and activity. DragonWave’s stock has been delisted on both NASDAQ and the Toronto Stock Exchange.
It’s been a pretty bumpy ride for the company. After major financial losses in the past two years, the networking equipment provider had negotiated with lenders to pay off the debt and restructured the company in an attempt to avoid delisting. The solution didn’t work and with cash flow in the negative numbers, its major lenders had demanded repayments of $17.2 million within 10 days. When the company failed to find alternative funding options, the lenders asked an Ottawa court to step in to appoint a receiver to pursue a “short, court-supervised sale process.”
What happened? According to the Ottawa Citizen, the downfall was Nokia’s acquisition of Alcatel-Lucent, a major competitor. The result of the acquisition, as well as a “technical glitch” prompting a halt in shipments to an Indian customer, killed half of the equipment provider’s sales.
What Does This Mean to Your Network?
DragonWave has yet to claim bankruptcy and has claimed it will continue to operate as business as usual. However, you may be worried what can happen with your equipment and your broadband network. What can happen in the future? It’s important to protect your investment and your equipment.
That’s why you need to turn to SWG, Inc. to help with your network needs.
SWG, Inc. Can Help With Your DragonWave Needs
If you need to replace any of your equipment or need to add to your current network, SWG, Inc. has what you need. We have hundreds of new and surplus equipment on sale in our online store, such as:
- DragonWave Horizon Duo
- DragonWave Horizon Compact
- DragonWave Horizon Compact +
- DragonWave Horizon Quantum
- And so much more!
In addition to providing a full range of DragonWave wireless equipment, SWG, Inc. also offers repair services for a variety of DragonWave equipment including the Horizon Duo, Horizon Quantum, Horizon Compact, and Horizon Compact Plus.
Now is the time to preserve your investment. SWG, Inc. has equipment that meets every budget. And with our quick turnaround, your broken equipment will be fixed right first time around.