Orckit-Corrigent

Orckit-Corrigent
Orckit-Corrigent
Type Public (NASDAQORCT)(TASEORCT)
Industry Telecommunications Equipment
Founded 1990
Headquarters Tel Aviv, Israel
Key people

Co-Founder, Chairman of the Board and President: Izhak Tamir

Co-Founder, CEO and Director: Eric Paneth
Products Packet Transport Networking Infrastructure
Revenue $12.7 million USD (FY 2009)
Employees 200+
Website www.orckit.com

Orckit-Corrigent (Nasdaq: ORCT; TASE: ORCT) is an Israel-based global supplier of telecommunications networking equipment and products that facilitate the delivery of Carrier Ethernet and TDM migration applications for telecommunication providers around the world.

In 2005, Orckit was named one of the top 20 innovative industry vendors (out of 823 companies in total) in a study reported in an IEEE publication.[1]

Orckit-Corrigent was founded in 1990 and is headquartered in Tel Aviv, Israel. It went public in 1996, making history as the first Israeli company to face excess public demand at its Initial Public Offering (IPO) in NASDAQ.[2] The Company has more than 200 employees across the Americas, Western and Eastern Europe and APAC.


Contents

Corporate history

Orckit was founded in 1990 by Mr. Izhak Tamir and Mr. Eric Paneth. Mr. Izhak Tamir has been President of Orckit since the Company’s founding, and was named Chairman of the Board of Directors in July 2008. Tamir also serves as a Director of Gilat Satellite Networks and sits on the Board of Directors of Tikcro Technologies Ltd. [3]

Mr. Eric Paneth has served as Chief Executive Officer and Director of Orckit since 1990. Paneth also served as Chairman of the Board until Izhak Tamir took over in July 2008. Since 2000, Paneth also served as a director of Tikcro Technologies Ltd and then became CEO in November 2008, a position he has held ever since.[4]

In September 1996, Orckit announced an initial public offering (IPO) of 3.3 million of its ordinary shares at a public offering price of $16.00.[5] The company then made history when its initial public offering on the Nasdaq over-the-counter exchange was postponed due to oversubscription. This made Orckit the first Israeli company ever to "suffer" a deferral on Nasdaq as a result of excess public demand.[2]

In 2000, Orckit founded Corrigent Systems as a fully owned subsidiary.[6] This move marked a transformation of the Company, which originated as a DSL vendor, into a Packet Transport Network (PTN) vendor. That year, the Company began developing and manufacturing PTN products for metro aggregation networks and, Resilient Packet Ring (RPR) technology was developed and introduced to the market as IEEE 802.17 Standard, as part of the company's packet transport technology.[7]

In 2004, KDDI, the second largest telecom carrier in Japan and the first wireless service provider in the region, awarded Orckit-Corrigent a contract for its CM-100 platform for its network, which was at the time considered to be the largest 10G deployment in the world.[8]

In 2007, Orckit-Corrigent launched its next generation CM4000 PTN line of products,[9] which currently serves multiple telecom providers worldwide, including leading Indian carrier Bharat Sanchar Nigam Ltd. (BSNL),[10] Deutsche Telekom,[11] a leading Pan-European Scandinavian Service Provider,[12] Mexican redIT (formerly MetroNet),[13][14] and others.

Global expansion

Orckit-Corrigent has international offices located in Israel, US, India, Japan, Korea, Germany, Russia, Brazil, Mexico, Thailand, and the Philippines. In August 2009, Orckit-Corrigent opened a new office in Brazil to help strengthen its Latin American presence.[15] In January 2010, Mr. Lindsay Ryan was hired as Regional Sales Manager to head a new office in the city of Manila in the Philippines.[16]

In February 2010, Mr. VK Aggarwal was appointed new Managing Director of Orckit-Corrigent’s new India headquarters. The company also hired additional employees to better serve existing customers and develop new opportunities in the region. Orckit-Corrigent has communicated that it sees India as a particularly strong market, with significant opportunities for growth.[17]

In March 2010, Orckit-Corrigent opened a new office in Thailand and appointed Mr. Monchai Kunwattanakorn as the new VP Sales for Thailand, Laos and Myanmar.[18]

In May 2010, Orckit-Corrigent opened a new sales office and service center in Germany, which is headed by Bernd Muehlhaus. This was an important move for the company, as the European region captures approximately a third of the global Carrier Ethernet market.[19] Orckit-Corrigent is active in the German market, having signed an agreement with Media Broadcast GmbH for Deutsche Telekom in 2008.[20]

Market

Orckit-Corrigent's solutions offer advanced networking infrastructure for the delivery of residential, business and mobile backhauling services in packet-based networks. Orckit-Corrigent is focused on what the company terms 'TDM migration,' whereby carriers operating legacy SDH networks with growing levels of Ethernet traffic are offered the ability to progressively transition to a network where traffic is offloaded to a platform that can handle both TDM and Ethernet services.[21]

According to industry analyst firm Heavy Reading, the global Carrier Ethernet Switch/Router market size in 2010 is estimated at $2 billion and is expected to surpass $2.9 billion by 2014.[22] According to recent research from analyst firm Ovum, the aggregation segment of the global optical networking (ON) equipment market is currently estimated to be $6.3 billion and is expected to reach $7.3 billion by 2015.[23]

Orckit-Corrigent targets both of these markets, offering application delivery for the PTN market and TDM migration for MSPP installed-base.[24]

The Company’s PTN solution, led by its CM-4000 line of products, includes standard and interoperable[25] MPLS and MPLS-TP switches with a wide set of transport features, enabling advanced packet, as well as legacy services, over packet transport networks. The solution also offers advanced circuit emulation and packet synchronization technologies as one of the building blocks for the TDM upgrade.[26]

Products

Packet Transport Network (PTN) switches

The CM-4000 product family is a series of Packet Transport Network switches. It consists of the CM-4140, CM-4206 and CM-4314 models and offers a flexible mix of Ethernet and TDM services that facilitate the migration toward an all-IP network.[27] These switches are based on MPLS and MPLS-TP technologies and are designed to scale up the delivery of residential, business and mobile backhauling services in next-generation telecom networks. They can be deployed in any configuration, including ring, mesh and tree topologies, over one or multiple 10 Gbit/s wavelengths.

  • CM-4314 is a high capacity switch that provides 320Gps of full duplex switching capacity. It has a 14RU footprint.
  • CM-4206 is a medium-sized switch that provides 160 Gbit/s of full duplex switching capacity. It has a 6RU footprint.
  • CM-4140 is a carrier-grade switch that provides 84 Gbit/s of full duplex switching capacity. It is unique in that it was the first product of its kind to introduce standard and interoperable Layer 2 MPLS at the metro edge network domain, at a small 3RU footprint, with minimized power consumption.[28]

The CM-4000 product family offers the following features:[29]

  • Carrier grade switch with Redundancy, flexible configuration, high availability of equipment and services, and Multilayer OAM for failure detection and isolation
  • Dense mixture of GE, 10GE and PDH, SDH interfaces
  • MEF certified and E-Line / E-Lan / E-Tree services
  • Any PDH and SDH services over unified packet - transport network
  • Synchronization and circuit emulation
  • Multilayer OAM for failure detection and isolation
  • Low power consumption
  • Comprehensive EMS/NMS

Access Ethernet switches

  • CM-11 is a flexible multi service access switch with E1/T1, FE/GE interfaces that enables the delivery of voice, video and data services.
  • CM-10 is a cost-effective single-board Fast Ethernet switch with 24 FE ports and 13G switching capacity

Orckit-Corrigent also offers CM-View EMS/NMS, a unified and scalable network management system with graphical point and click provisioning. The platform is designed to enable the quick roll-out of next generation services, simplify the network operation and reduce operational costs.[30]

Industry awards and recognition

In 2009, Orckit-Corrigent’s CM-4140 Ethernet Switch won the Product Innovation Award, given by the publication Network Products Guide. The product was recognized for its ability to achieve optimal bandwidth utilization at all times, by means of a small foot-print and low power consumption.[31]

The CM-4140 PTN Switch was also named a Distinguished Honoree at the 2010 International Business Awards in the category of Best New Product or Service of the Year – Telecommunications. The International Business Awards, organized by The Stevie Awards, recognizes companies who provide positive contributions to people worldwide.[32]

Orckit-Corrigent has ISO 9001:2000 certification, demonstrating the importance it places on quality management. Orckit-Corrigent’s products are also MEF certified, having successfully completed a rigorous series of tests based on MEF approved Test Suites.[33] In addition, the company plays an active role in the industry by participating in relevant organizations such as IETF, ITU-T, IEEE and MPEG.[34] Orckit-Corrigent also regularly participates in industry-wide interoperability testing events and has consistently demonstrated EANTC interoperability for its MPLS, Ethernet and TDM over packet capabilities.[35][36]

External links

Notes

  1. ^ "“How Venture Capital Thwarts Innovation,” IEEE Spectrum". http://spectrum.ieee.org/computing/hardware/how-venture-capital-thwarts-innovation. 
  2. ^ a b "“Orckit Nasdaq IPO makes history,” AllBusiness". http://www.allbusiness.com/banking-finance/financial-markets-investing-securities/7477383-1.html. 
  3. ^ "“Interview With The President: Orckit Communications Ltd. (ORCT) - Izhak Tamir,” Yahoo Finance". http://finance.yahoo.com/news/Interview-With-The-President-twst-2629245013.html?x=0&.v=1. 
  4. ^ "Forbes Profile: Eric Paneth". http://people.forbes.com/profile/eric-paneth/60616. 
  5. ^ "“Orckit Communications Ltd. announces commencement of initial public offering,” BusinessWire". http://www.highbeam.com/doc/1G1-18715617.html. 
  6. ^ "Bloomberg Businessweek Profile: Corrigent Systems, Inc.". http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=5410301. 
  7. ^ "“Corrigent Demos IEEE 802.17 RPR,” Light Reading". http://www.lightreading.com/document.asp?doc_id=54963&site=supercomm. 
  8. ^ "“KDDI Selects Corrigent's Packet ADM for Nationwide Deployment,” BNET". Business Wire. 2004. http://findarticles.com/p/articles/mi_m0EIN/is_2004_July_15/ai_n6107053/. 
  9. ^ "“Corrigent Unveils CM-4000,” Light Reading". http://www.lightreading.com/document.asp?doc_id=120595. 
  10. ^ "“Orckit-Corrigent to supply Carrier Ethernet systems for BSNL broadband network in India,” Lightwave". http://www.lightwaveonline.com/networking/news/Orckit-Corrigent-to-supply-Carrier-Ethernet-systems-for-BSNL-broadband-network-in-India-106444403.html. 
  11. ^ European Telecom Newsletter – February 28, 1999. http://books.google.co.il/books?id=ppq4SWbVk2MC&pg=PA6&lpg=PA6&dq=Deutsche+Telekom+orckit&source=bl&ots=xtmZTJO8Ce&sig=7PqPBWYKesYDsV926VugWIL0nZw&hl=en&ei=2jPhTMe9Js24hAfXheX_DA&sa=X&oi=book_result&ct=result&resnum=9&ved=0CEMQ6AEwCA#v=onepage&q=Deutsche%20Telekom%20orckit&f=false. 
  12. ^ "“Orckit-Corrigent Signed an Agreement with a Leading Scandinavian Service Provider,” Israel Venture Capital Research Center". http://www.ivc-online.com/ivcWeeklyItem.asp?articleID=9968. 
  13. ^ "“MetroNet Picks Orckit,” Light Reading". http://www.lightreading.com/document.asp?doc_id=191200. 
  14. ^ "redIT Website". http://www.getredit.com/. 
  15. ^ "“Orckit-Corrigent Strengthens Its Sales Effort in Latin America,” BusinessWire". http://www.businesswire.com/news/home/20090810005616/en. 
  16. ^ "“Orckit-Corrigent Strengthens its Sales and Marketing Efforts in the Philippines,” Press Release". http://connectedpr.com/orckit-corrigent/2010/01/21/orckit-corrigent-strengthens-its-sales-and-marketing-efforts-in-the-philippines/. 
  17. ^ "“Orckit-Corrigent Strengthens its Presence in India,” TradingMarkets.com". http://www.tradingmarkets.com/news/press-release/orct_orckit-corrigent-strengthens-its-presence-in-india-803960.html. 
  18. ^ "“Orckit-Corrigent Continues Global Expansion with Local Addition in Thailand,” BusinessWire". http://www.businesswire.com/news/home/20100309005870/en. 
  19. ^ "“Orckit shares jump on new Germany office,” Globes". http://www.globes.co.il/serveen/globes/docview.asp?did=1000557033&fid=1725. 
  20. ^ "“Orckit-Corrigent Signs a Long Term Agreement with Media Broadcast GmbH for Deutsche Telekom's Customer in Germany,” BusinessWire". http://www.thefreelibrary.com/Corrigent+Signs+a+Long+Term+Agreement+with+Media+Broadcast+GmbH+for...-a0174279201. 
  21. ^ "“Interview with Izhak Tamir, Co-Founder, Chairman and Presidentof Orckit-Corrigent,” Optical Keyhole". http://www.opticalkeyhole.com/interviews/orckit.asp. 
  22. ^ "“Carrier Ethernet Switch/Router Market Grows,” Light Reading". http://www.lightreading.com/blog.asp?blog_sectionid=782&doc_id=197724. 
  23. ^ "“Forecast Update: optical networks, global and regional,” Ovum Research". http://store.ovum.com/Product/forecast_update_optical_networks_global_and_regional?productid=B0F0EF70-EF92-4737-92C6-2360D84A1F56. 
  24. ^ "“TDM migration and the path towards unified networks,” Orckit-Corrigent". http://www.orckit.com/en/network/solutions/03/default.asp?ContentID=160. 
  25. ^ "“Orckit-Corrigent Successfully Demonstrates Full Product Line Interoperability at Carrier Ethernet World's Industry-Wide Testing Event,” Yahoo Finance". http://finance.yahoo.com/news/OrckitCorrigent-Successfully-bw-3375069042.html?x=0&.v=1. 
  26. ^ "“Orckit-Corrigent Unveils Its Enhanced Mobile Backhaul Portfolio,” BusinessWire". http://www.businesswire.com/news/home/20100323005231/en. 
  27. ^ "“Corrigent Introduces a New Member in its Carrier Ethernet Transport – CE+T – Product Family,” dBusinessNews". http://newyork.dbusinessnews.com/shownews.php?newsid=169085&type_news=latest. 
  28. ^ "“Orckit-Corrigent Receives Network Products Guide 2009 Product Innovation Award,” AllBusiness". http://www.allbusiness.com/company-activities-management/product-management/12335200-1.html. 
  29. ^ "“CE+T Technologies,” Orckit-Corrigent". http://www.orckit.com/en/network/technologies/01/default.asp?ContentID=32. 
  30. ^ "“Corrigent Enhances Mobile Backhaul with MPLS Aggregation,” Converge Network Digest". http://www.convergedigest.com/Bandwidth/newnetworksarticle.asp?ID=29986. 
  31. ^ "“Ethernet Switch - CM-4140,” Network Products Guide". http://www.networkproductsguide.com/innovations/2009/Corrigent_Systems.html. 
  32. ^ "“The 2010 International Business Awards,” The International Business Awards". http://www.stevieawards.com/pubs/iba/awards/408_2633_20490.cfm. 
  33. ^ "“List of MEF Certified Companies: Services and Products,” Metro Ethernet Forum". http://metroethernetforum.org/page_loader.php?p_id=33. 
  34. ^ "“About Orckit-Corrigent,” Orckit-Corrigent". http://www.orckit.com/en/company/about/03/default.asp?ContentID=13. 
  35. ^ "“Orckit-Corrigent Demonstrates Product Line Interoperability at Carrier Ethernet Testing Event,” TMC New Edge Networks". http://mpls.tmcnet.com/topics/mpls/articles/102944-orckit-corrigent-demonstrates-product-line-interoperability-carrier-ethernet.htm. 
  36. ^ "“Orckit-Corrigent Successfully Demonstrates Multi-Vendor Interoperability at MPLS & Ethernet World Congress,” Yahoo Finance". http://ca.news.finance.yahoo.com/s/09022010/34/biz-f-business-wire-orckit-corrigent-successfully-demonstrates-multi-vendor-interoperability-mpls.html. 

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