By Ben King, 1 February 2001 14:22
NEWS Yesterday, the company applied for voluntary liquidation having earlier in the day announced that 170 of its 190 employees will be laid off. In December the company withdrew a $100m funding round. IronBridge was founded two years ago with an initial development of $85m to develop terabit routers, hundreds of times faster than the gigabit routers, which were then the most advanced products available. The firm's first product was well received, but the recent poor fortunes of other router makers' shares made it impossible for the firm to find new investment. Alcatel, one of the initial investors in IronBridge, is thought to be one of the most likely buyers of the company's assets.
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