Alvesta Secures Third Round of Funding.Business Editors SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 5, 2001 Alvesta, a privately-held company providing optical communications Optical communications The transmission of speech, data, video, and other information by means of the visible and the infrared portion of the electromagnetic spectrum. products to high-end datacom, telecom and storage systems companies, today announced the completion of their Series C 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. in the amount of $12 million from new and existing investors. With the close of this third round funding, Alvesta has raised over $32 million since its formation in April of 1999. Proceeds are planned to finance manufacturing capacity expansion, sales channel buildout, and new product development. Enterprise Partners of La Jolla La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , CA led the round, with participation from existing investors Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking and Hamarex Holdings. New investors include Quantum Technology Ventures and Cypress Semiconductor Cypress Semiconductor is a semiconductor design and manufacturing company. It began operations in 1982 and listed publicly in 1986. Two years later, the company shifted over to the New York Stock Exchange under the symbol, (NYSE: CY). . "We looked at a variety of companies in this business before we chose to invest in Alvesta," said T.J. Rodgers, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cypress Semiconductor. "We were attracted to their track record of meeting commitments, their time-to-market advantage on four-channel transceivers, and their commitment to commercial success." "For emerging storage network applications, low-cost optics are a key enabling technology," said Maury Domengeaux, Quantum Technology Ventures general partner. "Alvesta has first mover advantage with an innovative product that can lead the way to a new generation of high speed storage products for the enterprise." "I'm pleased to have Cypress and Quantum join this round," stated Brian Button, President and CEO of Alvesta. "We've made a lot of progress over the past year and I believe these relationships will help accelerate us to the next level." About Alvesta Alvesta designs and manufactures optical technology for telecommunications, data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. , and storage infrastructure equipment. Alvesta's products enable cost-effective bandwidth transport for central office, enterprise data center, and storage area networks. Based on a highly manufacturable and scalable 10 Gigabit-per-second parallel optics module, Alvesta's products accelerate the transition from electrical to optical communication for IP/SONET/SDH, InfiniBand(TM), 10 Gigabit Ethernet An Ethernet standard that transmits at 1 Gbps. Used mostly to connect high-end workstations and servers as well as for network backbones, Gigabit Ethernet transmits full duplex from point to point using switches and half duplex in a shared environment (CSMA/CD) using a hub. , and next-generation Fibre Channel systems. Founded in April 1999, Alvesta Corporation is headquartered in Sunnyvale, CA and is privately held. For more information, visit www.alvesta.com. Note to Editors: All company and/or product names used herein may be trademarks of their respective owners. |
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