Orckit-Corrigent was an Israel-based supplier of telecommunications networking equipment and products that facilitated the delivery of Carrier Ethernet and TDM migration applications for telecommunication providers.
Orckit-Corrigent was founded in 1990 and is headquartered in Tel Aviv, Israel. It went public in 1996, making history as the first Israeli company to face excess public demand at its initial public offering (IPO) in NASDAQ.[1] However, despite those initial large contracts the company was unable to renew them. After years of losses, the company underwent a failed debt restructuring agreement in 2012, and entered bankruptcy and liquidation proceedings in mid-2015.[2][3]
Corporate history
Orckit was founded in 1990 by Izhak Tamir and Eric Paneth.[4]