Last fall, CENX president and CEO Ed Ogonek said the company’s goal was to become a world leader in Ethernet software.
If it’s not there yet, it appears to be well on its way.
The New Jersey-based company’s balance sheet has moved into the black, Mr. Ogonek says, after “very significant growth in revenue” over the past year. The company recently closed deals with two of the largest U.S. mobile communications firms, he added, though he declined to name them because details of the agreements haven’t been made public.
CENX expects to hit the 100-employee mark before the end of the summer, with about 70 of those working out of its global operations centre in downtown Ottawa. That’s up from about 50 local employees last October and 20 a year ago.
That steep growth curve means the firm is already expanding its office at the corner of Bank and Cooper streets. After occupying the second floor since moving from its former Main Street location last summer, CENX is preparing to take over the building’s third floor in August, doubling its office space from 7,500 to 15,000 square feet.
The firm is also rapidly expanding its presence around the world. It opened an office near London earlier this year, and on Wednesday, it announced it has set up operations in Hong Kong to serve the burgeoning Asia Pacific market.
Mobile data traffic in the region grew by 86 per cent in 2013, according to Cisco’s VNI index. Mr. Ogonek said CENX is poised to make major inroads in the Asian market with its Ethernet Lifecycle Manager software, which allows service providers to quickly troubleshoot problems on their Ethernet networks.
“We have a solution that fits very well with the core fundamentals of the market,” said the Ottawa-based executive.