Monday, January 29, 2007

Light Reading - Ethernet - Mangrove Closes Its Doors - Telecom News Analysis

Mangrove Systems Inc. has decided to cease operations and look for a buyer, ending entrepreneur Jonathan Reeves's winning streak of startup exits.
Mangrove launched in 2002 to high expectations, as founder Reeves had racked up two successes with previous startups. His Sahara Networks got sold to Cascade Communications in 1997 for $212 million. Later, Sirocco Systems got bought out by Sycamore Networks Inc. (Nasdaq: SCMR - message board) in 2000 for $2.9 billion. (See Sycamore Goes Shopping and Sycamore Gains Access.)"

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