DragonWave Forms Joint Venture in India with HFCL

DragonWave has formed a joint venture with Himachal Futuristic Communications Ltd. (HFCL), one of India's leading telecommunication equipment manufacturers and turnkey service providers, to provide packet microwave solutions to the Indian market. DragonWave will own 50.1% of the equity in the Joint Venture and the balance of the equity will be owned by HFCL. The new company will be based in Delhi and will utilize HFCL's local market knowledge and expertise to sell and market DragonWave products in India. HFCL will provide the Joint Venture with local manufacturing of DragonWave products.
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