Alliance Fiber Optic Products, Inc. Raises $27.5 Million in Venture Capital.Business Editors/High-Tech Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--July 21, 2000 Alliance Fiber Optic Products, Inc. (AFOP AFOP Alliance Fiber Optic Products, Inc. AFOP Association of Farmworker Opportunity Programs AFOP Association Française des industries de l'Optique et de la Photonique AFOP and for other purposes AFOP acute fibrinous and organizing pneumonia ), a leading supplier of fiber optic network components and subsystems, today announced it has successfully completed a private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. totaling $27.5 million. The financing was lead by New Enterprise Associates (NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen ), and includes participation from the Texas Pacific Group, Weiss, Peck & Greer Venture Partners, CMEA CMEA Council for Mutual Economic Assistance CMEA Cellular Message Encryption Algorithm CMEA Canadian Music Educators' Association CMEA Council for Mutual Economic Aid CMEA Certified Machinery Equipment Appraiser CMEA Colorado Music Education Association Ventures, and Acorn Funds (the private investment firm of Wu-Fu Chen). AFOP is a privately-held California based developer, marketer, and manufacturer of fiber optic passive components and subsystems for use in next-generation optical networks. According to AFOP Chairman and Chief Executive Officer Peter Chang, the financing will be used to expand AFOP's production capacity to meet the aggressive demand of its customers in the optical networking industry, and will also be used to increase research and development of advanced DWDM (Dense WDM) The term given to wavelength division multiplexing (WDM) when significantly more channels were being added. Since WDM is increasingly more "dense" all the time, both terms are used synonymously. See WDM. DWDM - wavelength division multiplexing related products. "We are very proud to have the support of these great investment resources," Chang said. "The demand for rapid growth in our capacity can be effectively met with broad expansion of our production lines, and we will continue to quicken the pace of innovation in our extensive fiber optic products portfolio." About NEA NEA is the communications industry's premier venture capital firm. For more than 20 years, NEA has practiced classic venture capital investing by funding early-stage companies and working with management to nurture and build companies of real and lasting value. NEA is now the leading start-up venture investor in the country. With $2.5 billion in capital under management, they have invested in more than 400 companies, of which more than 130 have gone public and more than 140 have been successfully acquired. NEA's portfolio includes Juniper Networks, Inc. (Nasdaq:JNPR JNPR Juniper Networks, Inc. (stock symbol) ), Ascend Communications, Inc. (Nasdaq:ASND ASND A Streetcar Named Desire (play) ), UUNET (UUNET Technologies, Inc., Fairfax, VA, www.uunet.net) Founded in 1987, UUNET was the first commercial Internet service provider. Originally offering e-mail and news, it became a full Internet service organization providing dial-up and leased line accounts as well as archive space for (a WorldCom Company), and Xros, Inc. (acquired by Nortel Networks). About Alliance Fiber Optic Products, Inc. Alliance Fiber Optic Products, Inc. (AFOP) designs, manufactures, and markets an extensive line of fiber optic components that provide increased bandwidth and flexibility to optical networks. These products include MICS(TM) DWDM filter multiplexers, integrating depolarizers, variable attenuators, and fiber optic interconnect and branching devices. Founded in 1995, AFOP is headquartered in Sunnyvale with global manufacturing and R&D in the U.S. and offshore. For further information, please call 408/736-6900, or visit AFOP's website at http://www.afop.com. |
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