Accelerated Networks, Inc. Secures Third Round Funding from Siemens AG; $30 million investment brings total financing to over $50 Million.MOORPARK, Calif.--(BUSINESS WIRE)--March 8, 1999--Accelerated Networks, Inc., innovator of award-winning integrated broadband access See broadband and wireless broadband. solutions, today announced that it has received a $30 million capital investment from Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. . The investment is in conjunction with a business agreement between Accelerated and Siemens' newly formed subsidiary, Unisphere Solutions, whereby Unisphere Solutions will offer Accelerated Networks' multi-service access solutions as part of an overall access and core network solution. This investment brings the total financing raised by the Company to over $50 million since its first round closed in May 1997. The first round of $5.6 million was obtained from a variety of venture capital sources including New Enterprise Associates, US Venture Partners, Windward wind·ward adj. 1. Of or moving toward the quarter from which the wind blows. 2. Of or on the side exposed to the wind or to prevailing winds. adv. In a direction from which the wind blows; against the wind. Ventures, Defta Partners, and other private sources. A second round of $14.5 million was secured in June 1998, from Onset Ventures, Walden International Investment Group, New Enterprise Associates, US Venture Partners, and Windward Ventures. "This investment marks a significant achievement for the company," said Fred Boyer, Accelerated's Chief Financial Officer. "We believe this is a strong indicator of the expansive opportunity available in the competitive access market. This infusion of capital enables us to continue our rapid product development and thoroughly support our large-scale customer roll-outs." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Anthony Maher Anthony Maher (born March 18, 1979 in Cape May, New Jersey, United States) is a forward with the American USL First Division side Carolina RailHawks as well as a forward on the Milwaukee Wave of the Major Indoor Soccer League (MISL). , member of the Siemens Information and Communication Network Group board of directors, "We see an explosion in innovation coming from U.S. technology startups at the same time service providers are rebuilding access infrastructure to better address real network requirements. Accelerated Networks is at the forefront of this activity and with this investment, as well as a broader strategic relationship, Unisphere Solutions will be able to address service providers' access requirements." Adds Peter Morris, Accelerated board member and New Enterprise Associates General Partner, "Very few companies make it to this stage in terms of capital raised and industry recognition. We are pleased to have Siemens join the list of backers of Accelerated Networks." Accelerated Networks markets leading-edge access products designed for local access providers. Its products include both customer-located Integrated Access Devices An IAD is a customer premises device that provides access to wide area networks and the Internet. Specifically, it aggregates multiple channels of information including voice and data across a single shared access link to a carrier or service provider PoP (Point of Presence). (IADs) and central office-based Multi-Service Access Platforms (MSAPs) -- the first end-to-end integrated broadband access solution in the industry. In addition to integrating a full range of voice and data services over a single local access facility, the Accelerated Networks products include a full complement of automated service selection and provisioning features. By utilizing cell-based ATM transport, the Accelerated Networks products also provide greater bandwidth efficiency The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. , strict quality of service (QoS) guarantees, and on-demand access to basic and enhanced services Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; . The Accelerated Networks solution has captured four prestigious industry awards since its introduction last fall, including Best of Category and Best of Show at NetWorld+Interop Atlanta 98, Data Communications' Top 25 Startups and a 1999 Hot Product of the Year. About Accelerated Networks, Inc. Accelerated Networks Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , develops award-winning integrated broadband access solutions for local access providers. These systems enable providers to offer a full complement of bundled voice and data services over a single, low-cost access line. In addition to allowing providers to offer enhanced services and generate additional revenues, Accelerated's products dramatically reduce the costs of provisioning and operation, and allow service providers to reduce their time to market -- key success factors in today's increasingly competitive communications environment. Accelerated Networks received funding from New Enterprise Associates, US Venture Partners, ONSET Ventures, Walden International Investment Group, and Siemens AG. More information about Accelerated Networks and its product line can be found at www.acceleratednetworks.com. Siemens AG Siemens AG, headquartered in Berlin/Munich, Germany, is the fifth largest electronics and electrical engineering electrical engineering: see engineering. electrical engineering Branch of engineering concerned with the practical applications of electricity in all its forms, including those of electronics. company in the world (by sales) with annual worldwide revenues for fiscal 1998 totaling $60 billion. As a technological innovator, Siemens is a leading manufacturer and supplier of energy and power systems, telecommunications, industry and automation, information systems, health care, transportation, microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. and components, and lighting and precision materials. More information about Siemens AG can be found at www.siemens.com. |
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