Marlin Equity Partners acquires the networking business of Sycamore Networks
Los Angeles, CA – February 1, 2013: Marlin Equity Partners ("Marlin") is pleased to announce that it has acquired the optical networking business of Sycamore Networks, Inc. (NASDAQ: SCMR). The company provides industry-leading optical networking and multiservice access solutions deployed in fixed-line and mobile networks around the world.
The new Marlin entity will now be called Sycamore Networks Solutions ("Sycamore") and will be led by John Scully who has assumed the role of president and chief executive officer. Most recently Mr. Scully served as Sycamore's vice president of worldwide sales and support.
"Sycamore's carrier-class networking solutions form the critical foundation for many of the world's leading communications networks, and we believe the company is well positioned to deliver enhanced value to its global customers as it moves forward," stated Pat DiPietro, an operating partner at Marlin. "This transaction provides Marlin the opportunity to establish a new platform company and build upon Sycamore's heritage of delivering innovative, high-value networking solutions."
Doug Bayerd, a principal at Marlin, added "As a strategic addition to our portfolio, we plan to make the necessary investments to further enhance Sycamore's current product offerings and continue to deliver the long-term value that Sycamore's premier customer base has come to expect. In addition, we are committed to building on Sycamore's market leading position through strategic acquisitions."