UTStarcom (NASDAQ:UTSI) has launched a new standalone entity, Virtual Gateway Labs.
VGL is a spin-off of UTStarcom's virtual broadband gateway business, focusing on enterprise customers in the U.S. market. UTStarcom will own 75% of VGL, and VGL employees will own the remaining 25%. VGL will have employees in both San Jose, CA, and Hangzhou, China.
VGL recently launched its first virtual broadband gateway product and says it has already received its first purchase order from a U.S. customer.
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