Ontario Partners With Next-Generation Tech Leader
Province’s Investment in Sandvine R&D Project Will Support 342 Jobs in Waterloo
Ontario is partnering with Sandvine, an Ontario-based global leader in networking equipment, to support the development of emerging, cloud-based technologies that will create 75 new jobs and retain 267 existing jobs in Waterloo, and strengthen the province's reputation as a knowledge-economy hub.
Premier Kathleen Wynne was at Sandvine's head office in Waterloo today to announce that the government is providing a grant of up to $15 million through the Jobs and Prosperity Fund to support Sandvine's research and development project. The total eligible cost of the project is $169 million over seven years.
Sandvine -- which generates 85 per cent of its revenue from exports -- sells exclusively to communications service providers that deliver a consumer high-speed Internet experience, such as through cable, fibre and mobile networks. Sandvine's products provide its customers with actionable business insight, the ability to deploy new subscriber services and tools to optimize traffic while enhancing subscriber Internet quality of experience.
The project will help propel Sandvine's business into the emerging growth area of Network Function Virtualization. Sandvine's Virtual Series products will run on cloud-based servers, making it faster and cheaper for clients to deploy new networking services in response to rapidly changing business requirements. It will help operators open up new market opportunities and address their needs to quickly adapt at large scale to rapid changes on the public Internet, such as the rise of popular applications like Netflix.
Strategically partnering with innovative businesses is part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario's history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
- Ontario’s Business Growth Initiative is growing the economy and creating jobs by promoting an innovation-based economy, helping small companies scale up and modernizing regulations for businesses.
- Ontario’s ICT sector directly employs about 260,000 people, representing almost 50 per cent of total ICT jobs across Canada.
- Sandvine has over 250 customers in more than 90 countries, including Comcast, Telefonica and NTT Communications.
- The Jobs and Prosperity Fund (JPF) is providing $2.7 billion over 10 years to enhance productivity, bolster innovation and grow Ontario’s exports.
- The JPF is already supporting innovation and job creation in Ontario with investments in companies such as Sandvine, Huawei Canada, Superpufft, A. Lassonde Inc., Toyota and Linamar — leveraging over $1.2 billion in total project investment.
“Sandvine is a true Ontario success story, and our government is pleased to support the next phase of its growth, which will help create high-quality jobs. By partnering with companies like Sandvine, we are helping to boost Ontario’s dynamic ICT sector and positioning the province for growth now and for years to come.”
“The evolution of the Internet and demand for data has never been greater, and Ontario needs to remain at the centre of that disruption. Today’s announcement with Sandvine demonstrates our ongoing commitment to partnering with innovative companies to create long-term growth and global competitiveness. With our investment, we are increasing Ontario's position as a global powerhouse in the ICT sector, and pursuing new innovations while creating high-value jobs and growing our economy.”
“Sandvine is a major employer in our community and a leader in the ICT sector. Our government is pleased to partner on this project, bringing investment and supports to the Kitchener-Waterloo’s economy. This announcement advances Ontario’s economic strategy by enhancing innovation in our ICT sector.”
“We are a homegrown company and are proud to be a part of Ontario’s vibrant innovation ecosystem. This investment from the province will help accelerate our efforts to innovate and transform the way we do business, and make it possible to create new products and value-added services that will help our customers compete over the long term.”