Azanda Network Devices Closes Further $7 Million; Series B Funding Tops $33 Million.Business Editors/Technology Writers Opticon 2002 SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 19, 2002 Semiconductor Technology Firm Welcomes New Investors Dresdner Kleinwort Dresdner Kleinwort (DKIB) is the investment bank of Dresdner Bank AG, part of Allianz since July 2001. Headquartered in London and Frankfurt and with an international network including offices in the financial centres of New York and Tokyo, Dresdner Kleinwort provides a wide range Capital, Parker Price Venture Capital and China Development Industrial Bank Azanda Network Devices, an innovator in the development of silicon products for managing the way traffic is processed in network core, edge and enterprise markets, today announced that its Series B funding round has increased to $33 million. The fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab. , which recently publicized the first of a number of major design wins, has received an additional $7 million from 75 Wall Street Technology Partners LP, a New York-based technology fund of Dresdner Kleinwort Capital (DrKC), Parker Price Venture Capital (PPVC), and China Development Industrial Bank (CDIB CDIB Certificate of Degree of Indian Blood ). In previous announcements this spring, Azanda revealed second-round support from Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. , Commonwealth Capital Ventures, 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 Highland Capital Partners Highland Capital Partners is a global venture capital firm with offices located in Boston, Silicon Valley, Geneva, and Shanghai. Since its inception in 1988, the firm has invested in more than 180 early and growth stage companies and taken a sector-focused approach to investing in , who were Series A participants, as well as an investment from Newbury Ventures. Today's announcement brings to $43 million the total capital investment in Azanda Network Devices since the company's inception in March 2000. Even in this challenging funding environment, Azanda has generated a high level of interest among top-tier international investors. Azanda's 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. , Steve Dines, sees these investors providing the resources and expertise needed to attract partners and customers to the company's products. Said Dines, "It had been our goal to raise $25 million in series B financing. But given the level of interest demonstrated by so many investment firms and the uncertainty of the markets, we decided to hold the round open. We've been fortunate to have Jeff Stevenson of Venture Crossing, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control introduce us to Newbury Ventures and others." He continued, "The fact that we've been able to attract truly high-caliber new investors confirms the wisdom of our decision last fall to re-focus our product direction to solve current, real, customer problems. In spite of economic conditions, we're confident that these funds will carry us comfortably through 2003, and to significant revenue generation. With the support of our investors we will be able to secure Azanda's position at the forefront of our market." Azanda Network Devices will use its increased equity to further drive to market its silicon products for datapath processing. Datapath processors are configurable co-processing devices that make it easier for OEMs to scale the performance of their systems to meet the dual requirements of increased network speeds and increased service offerings. "We are very pleased to back Azanda Network Devices. They're gaining good customer traction where there is clearly a need for technology like theirs, which can leverage legacy network investments as well as those in next-gen systems. Their focus on building a customer base among `Tier 1' networking systems vendors minimizes risk and offers stability in a volatile market," said Gaurav Burman, vice president, Dresdner Kleinwort Capital. In May, Azanda demonstrated its first product, the Scimitar(TM) AZ61100 traffic manager/ATM SAR (Segmentation And Reassembly) The protocol that converts data to cells for transmission over an ATM network. It is the lower part of the ATM Adaption Layer (AAL), which is responsible for the entire operation. See AAL. SAR - segmentation and reassembly , at the Networld+Interop trade show. The Scimitar(TM) AZ61100 is currently sampling with key customers and will be available for commercial release later this year. The Scimitar(TM) AZ61100 is a single chip that performs traffic management and ATM segmentation and re-assembly (SAR) functions at full-duplex OC-48 speeds, delivering a total aggregate bandwidth of 5 gigabits per second. Seabridge Ltd., a fully owned Siemens company, is using Scimitar(TM) in the development of its multi-service access equipment, the Attane XpressPass(TM) next-generation IP/ATM platform. From August 19-20, Azanda Network Devices will participate at the Opticon 2002 trade show (www.opticon2002.com) in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. The company will exhibit in booth #309 in the convention center. On Tuesday, August 20, CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. and founder Bidyut Parruck will speak on a panel titled "Are Network Processors Ready for Prime Time?" About Azanda Network Devices Azanda Network Devices is an innovator in the development of silicon products for the optical metro network, the access portion of core networks, and enterprise networks at the WAN edge. It is poised to "evolutionize" the datapath architecture of high-speed optical line cards by using an "open architecture" approach to managing the way data traffic is processed. Azanda's high-performance silicon products, such as Scimitar(TM) AZ61100 and AZ61120, help OEMs leverage their existing investments in systems and accelerate their product time to market. Additional information on Azanda can be found at http://www.azanda.com, or by contacting company headquarters in Sunnyvale, Calif., at 408-720-3100. About China Development Industrial Bank China Development Industrial Bank's direct investment portfolio totals more than 250 companies representing US $1.5 billion in investment capital and is one of the largest private equity portfolios in Asia. The bank's geographic reach covers most of the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. countries. Currently more than 60% of its investments are in information technology and 25% are in the semiconductor sector. CDIB was also an early investor in such companies as TSMC TSMC Taiwan Semiconductor Manufacturing Company, Ltd TSMC Taiwan Semiconductor Manufacturing Corporation TSMC Traffic Systems Management Center TSMC Toll Station Management Controller TSMC Transportation Supply Maintenance Command TSMC Technical Services Manager Code , UMC UMC United Methodist Church UMC United Microelectronics Corporation UMC University Medical Center UMC United Microelectronics Corp (Republic of China) UMC University of Missouri-Columbia and Acer. The firm has offices in Taipei and Silicon Valley. For more information, please visit http://www.cdibank.com. About Parker Price Venture Capital Parker Price Venture Capital, formerly Allegro Capital, is a San Francisco-based venture capital firm focused on diversified technology investments including semiconductors, electronic devices, internet/software, and telecommunications. The firm has raised two funds since 1998 and targets investments seeking second and third rounds of institutional financing. Additional information on Parker Price Venture Capital can be found at www.parkerpricevc.com, or by contacting the firm in 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 , CA at 415-623-2000. About 75 Wall Street Technology Partners 75 Wall Street Technology Partners LP is a New York-based technology fund of Dresdner Kleinwort Capital ("DrKC"). The fund invests in mid and late stage United States technology companies. DrKC manages c. Euro 4 billion in private equity and venture capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) primarily in Europe and North America. Investments are made with Dresdner Bank capital and funds committed by third parties. Following the acquisition of Dresdner Bank AG by Allianz AG it has been decided to combine the Private Equity activities of both companies into one holding company. The new combined business will focus on three main investment streams (i) mid-market expansion capital and buy-out, (ii) specialist investments with either a sector or geographic focus and (iii) fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. investing. For more information see our website - http://www.dresdnerkc.com. Scimitar(TM) is a trademark of Azanda Network Devices, Inc. All other trademarks belong to their respective owners. |
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