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Sycamore Networks was founded in February 1998 by Gururaj “Desh” Deshpande, a former founder of Cascade Communications, along with Rick Barry and Eric Swanson of Massachusetts Institute of Technology’s (MIT) Lincoln Laboratory.
Sycamore develops and markets optical networking products that are designed to enable service providers to easily and cost-effectively transition their existing fibre-optic network into an infrastructure that can provision, manage, and deliver economic, high-bandwidth services to their customers.
Sycamore's product portfolio includes fully integrated edge and core optical switching platforms, network management software, and design and planning tools.
As of September 2004, the company’s Chairman Gururaj Deshpande and Daniel E. Smith, President and CEO, held 16.7% and 15.7% of the company’s common stock respectively. The other shareholders at that time were Platyko Partners LP (7.9%), FMR Corp (6.8%), and The Gururaj Deshpande Grantor Retained Annuity Trust (6.5%). However, the share held by FMR Corp reduced to 5.95% in February 2005. In March 2005, Third Avenue Management (TAM) purchased 5.27% of Sycamore Networks.
