Astute Networks Attracts $15M Round of Funding Led by ComVentures.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--March 22, 2004 Second Round to Support Build-Out of Sales and Marketing Capabilities for Intelligent Protocol Acceleration Hardware and Software Astute Networks, a leading provider of intelligent silicon-based protocol acceleration solutions, today announced that it has closed a $15M round of venture capital funding. The funding will be used to boost Astute Networks' global sales and marketing initiatives amidst strong market demand for products that increase performance and lower costs in protocol processing applications. Astute Networks' Intelligent Protocol Processor (IPP (Internet Printing Protocol) A protocol for printing and managing print jobs over the Internet using HTTP. Initially conceived by Novell, Xerox and others, the IETF made it a standard in 2000 that includes authentication and encryption. See printing protocol and LPD. ) offerings represent the industry's first product category to address the need for "smarter" protocol processing. With a full suite of IPP-based hardware and software solutions presently shipping, Astute Networks will use the funding to assert its standing as a premier developer of protocol processing accelerators. Astute Networks' second-round financing was led by new investor ComVentures and includes existing Astute Networks investors: U.S. Venture Partners, BA 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 and Dali Hook Partners. With completion of the $15M funding, Astute Networks also announces that ComVentures co-founder and partner Clifford Higgerson has joined the Astute Networks Board of Directors. Higgerson brings nearly 30 years of research, consulting and leadership experience in the telecommunications industry to Astute Networks and will provide valuable insights to the company's executive management team. "This funding is a tremendous vote of confidence for Astute Networks and its cutting-edge protocol acceleration technology," said Bill Atkinson This article is about the computer engineer and photographer. For the baseball player, see Bill Atkinson (baseball player). Bill Atkinson (born 1951) is an American computer engineer and photographer. Atkinson worked at Apple Computer from 1978 to 1990. , president and 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. , Astute Networks. "These additional resources will help fuel our efforts to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our market leadership in delivering cost-effective, high-performance processing solutions across our target markets. Astute Networks is pleased to welcome ComVentures as the lead investor for this round and encouraged by the continued support and validation of existing investors." "ComVentures is confident in Astute Networks' ability to achieve rapid growth," said Clifford Higgerson, partner, ComVentures. "Based on its technological innovations and the strength of its executive leadership, Astute Networks is on the cusp of defining a new market segment. The company's IPP offerings address one of networking, data-processing and storage industries' most pervasive issues: the need for efficient but easy to implement protocol processing solutions. Worldwide opportunity for Astute Networks' protocol acceleration technology is substantial and ComVentures looks forward to being part of that success." About Intelligent Protocol Processing Intelligent Protocol Processor (IPP) technology from Astute Networks combines a parallel processor architecture with embedded Inserted into. See embedded system. hardware engines for handling stateful protocols like TCP/IP TCP/IP in full Transmission Control Protocol/Internet Protocol Standard Internet communications protocols that allow digital computers to communicate over long distances. and Fibre Channel. IPP products program like a general-purpose CPU CPU in full central processing unit Principal component of a digital computer, composed of a control unit, an instruction-decoding unit, and an arithmetic-logic unit. , yet deliver the performance and cost efficiency of a dedicated ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. . The ease of IPP programmability reduces the risk and cost of new product development. At the same time, IPP's ASIC-like efficiency allows OEMs to cost effectively increase and scale the protocol processing of I/O ports (1) (Input/Output port) A pathway into and out of the computer. See port. (2) (Input/Output port) In a PC, an address used for input or output. See PC I/O addressing. . These attributes enable IPP to lower the end user's cost of ownership by reducing product costs, simplifying operator tasks and facilitating co-existence with legacy systems. Astute Networks estimates the total available market for IPP solutions to exceed $1.4B by 2007, with a current annual growth rate over 50%. About ComVentures ComVentures, a venture capital firm with more than $1.5 billion under management, specializes in momentum investments in the communications market. The firm focuses its investment expertise on pioneering, progressive companies that capitalize on the constant drive to build next-generation components, systems, software and services. ComVentures consistently uncovers groundbreaking communications technologies, helps lead and grow its portfolio companies, and assists these companies in deploying new technologies in an ever-changing marketplace. For more information, visit www.comventures.com. About Astute Networks Astute Networks designs and markets intelligent silicon-based protocol acceleration technologies to OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partners worldwide. Astute Networks enables customers in the server, storage array, switch and gateway and content/security appliance markets to deliver competitive advantages and cost-effective IT solutions. Founded in April 2000, Astute Networks is headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA. Additional information is available at www.astutenetworks.com. |
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