Algety Telecom Raises $31 Million in Round Two Funding.Business/Technology Editors LANNION, France--(BUSINESS WIRE)--March 27, 2000 Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. and Dassault Developpement Join Initial Investors to Fund Further Pioneering Efforts in Ultra High-speed Optical Networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. Algety Telecom, a pioneer in ultra high-speed, long-haul optical networking, today announced the close of its second round of venture capital funding at $31 Million (US). New investors Goldman Sachs and Dassault Developpement join round two funding, along with reinvestment by initial investors Banexi Venture Partners, Crescendo Ventures, Innovacom, and Newbury Ventures. Newbury and Crescendo co-lead this second round. The new infusion of capital will fund Algety's ongoing development of wave division multiplexing (spelling) wave division multiplexing - A common misnomer for wavelength division multiplexing. (WDM (1) (Wavelength Division Multiplexing) A technology that uses multiple lasers and transmits several wavelengths of light (lambdas) simultaneously over a single optical fiber. ) systems that utilize a new generation of solitons (versus currently utilized photons) for efficient and ultra-high speed data transmission over long-haul optical networks. In addition, the company will grow its sales and customer support teams, form strategic technology and business partnerships, and continue research and development efforts. Hughes Lepic, managing director of Goldman Sachs, said: "The quality of Algety's technology and management team makes it one of the future worldwide leaders in the telecommunications transmission sector. We are very excited to become a financial partner of Algety and we intend to fully support its continued growth and expansion." "Dassault Developpement firmly believes that Algety will play a significant role in actually defining and enabling the next generation of ultra-high speed optical networking for long-haul telecommunications service providers A Telecommunications Service Provider or TSP is a type of Communications Service Provider that has traditionally provided telephone and similar services. This category includes ILECs, CLECs, and mobile wireless companies. ," says Jean-Marie Chauvet, Partner at Dassault Developpement. "Algety's team, vision, and proven ability to execute are truly exceptional." Compatible with any type of existing fiber, Soliton A laser pulse that retains its shape in a fiber over long distances. By generating the pulse at a certain frequency and at a certain power level, the pulse takes advantage of competing dispersion effects. As it travels, the pulse is lengthened and then shortened back to its original size. technology uniquely provides for both an increase of data capacity, and an increase in transmission distance. Algety's solitons enable carriers to substantially increase lengths between regeneration sites, and to greatly improve the efficiency of their network. Algety technology will also eliminate millions of dollars of equipment from every link, greatly reducing long-haul costs and providing carriers with an economical upgrade path to manage the huge increases in traffic expected in the next decade. About Algety Telecom Founded by veterans of France Telecom in 1999, Algety Telecom is a privately held manufacturer of ultra high-speed fiber optic transmission equipment. Algety's technology is based upon innovative soliton technology applied in a unique combination with advanced wavelength division multiplexing See WDM. (communications) wavelength division multiplexing - (WDM) Multiplexing several Optical Carrier n signals on a single optical fibre by using different wavelengths (colours) of laser light to carry different signals. . A current world record-holder for data transmission speed, Algety's technology is targeted at long-haul telecommunication carriers that operate major backbones with high transmission capacity requirements. For more information about Algety, visit the company web site at www.algety.com. About Goldman Sachs Goldman Sachs is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The Firm is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and maintains offices in London, Frankfurt, Tokyo, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and other major financial centers around the world. About Dassault Developpement Dassault Developpement is the venture capital partnership of the Dassault Group Groupe Industriel Marcel Dassault S.A., (GIMD, Groupe Dassault, or the Dassault Group) is a French group of companies led by Serge Dassault. Managing directors are Claude Dassault and Olivier Costa De Beauregard. , providing capital and management support for early-stage and emerging-growth companies. During the past three years Dassault Developpement has invested in more than 25 companies in the areas of telecommunications, software and the Internet and currently has more than $100M under management. Dassault Developpement combines the capabilities of a major industrial player and proven expertise in capital markets with the character and focus of an entrepreneurial firm. About Innovacom Innovacom, France Telecom's corporate venture fund, has invested in more than 300 start-ups since 1988 in the fields of IT and telecommunications both in Europe and in the USA. Innovacom has provided early stage support to world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. in electronics, such as Gemplus Card, Soitec, Picogiga and in software to companies such as Business Objects and Intershop. Innovacom has offices in Paris and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . About Newbury Ventures Newbury Ventures is an international venture capital partnership focused on investing in and growing entrepreneurial companies in the communication and health care technology sectors. Newbury prefers to be involved at the earliest stages of a company's launch to assist the founding teams in business planning, strategy development, recruitment of key managers, introduction to leading-edge customers, and assistance with subsequent financing. Collectively, Newbury's partners have financed more than 100 successful emerging growth technology companies, of which at least one third were conceived and built to leverage the binational bi·na·tion·al adj. Of, relating to, or involving two nations. investment model using multinational skills and resources. |
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