White Rock suspends operations
The directors of White Rock Networks decided to suspend virtually all of the company’s operations today and furlough most of its employees while the company attempts to quickly end its search for an acquirer.
In an e-mail obtained by Telephony today, White Rock Co-Founder and Chief Executive Officer Lonnie Martin said, “It gives me and our team no pleasure whatsoever to reach this juncture after nearly seven years of working hard to establish White Rock as one of the long-term successful participants in the metro optical systems market place. Fundamentally, the telecom depression and all of its residue took too big and too long a toll on younger entrants like us, and at the end of the day, we could not look our investors in the eye a sixth time and convince them that millions more in equity would make our future dramatically better.”
Telephony will update this story as it unfolds.
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© 2014 Penton Media Inc.
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