Marlin Equity Partners, a global private investment firm, has launched a new privately held company following the completion of its $18.75 million purchase of the bandwidth management product and service business from Sycamore Networks Inc. of Chelmsford.
The new company will be called Sycamore Networks Solutions Inc., and it will be headed by John Scully, who previously served as vice president of worldwide sales and support for Sycamore Networks Inc., the new company said in a Friday press release.
Last fall, Sycamore Networks Inc. disclosed plans to wind down its operations. A Globe story from October noted that during the telecommunications boom of the late 1990s, Sycamore was one of the state’s hottest companies. Its cofounders were high-profile entrepreneurs Dan Smith and Desh Deshpande.
In a Friday press release, Sycamore Networks Inc. said that a Jan. 29 stockholders meeting authorized the previously announced sale of the bandwidth business. At the meeting, the stockholders also approved the dissolution of the company following the asset sale and adopted a plan of complete liquidation and dissolution.