CENiX Secures $52 Million of Equity and Debt Financing; Leader in Optoelectronic Subsystems Prepares to Enter Next Phase of Delivering to Customer Demand Using Automation.Business Editors and High-Tech Writers LEHIGH VALLEY The Lehigh Valley or the Allentown-Bethlehem-Easton, PA-NJ metropolitan area is a metropolitan region in eastern Pennsylvania and western New Jersey, in the United States. It is the third-most populated metropolitan region in Pennsylvania, after Philadelphia and Pittsburgh. , Pa.--(BUSINESS WIRE)--Oct. 23, 2001 CENiX Inc., a leader in the design and automated manufacture of next generation high-speed optoelectronic Refers to devices that function due to the interaction of light and electronics. For example, an electronic signal is the input to a laser diode, which generates light pulses that are transmitted through an optical fiber. interfaces, today announced that it has raised an additional $52 million in a combination of second round equity and debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay . With the participation of its Series A investors, and the addition of a global network of strategic and financial investors, this round brings the company's total funding to $77 million. In addition to first round investors, the recently completed Series B equity round of $34 million includes POSDATA Co., Ltd., AK Investments, LG Electronics Inc., Athena Venture Fund, Samwhan Corp., S.P. Comtech Co., Ltd., Optical Capital Group and other strategic partners and individuals. The $18 million in debt financing was funded by Western Technology Investment and Comdisco Ventures in support of CENiX's manufacturing infrastructure and automation equipment financing. "CENiX's high speed opto-electronic subsystems are focused on meeting the evolving needs of the global market," said Kwang-Ho Kim, 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. of POSDATA, a leading provider of information technology services in the Asian marketplace. "We believe CENiX is well positioned to capture market share in the growing Asian 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. market." CENiX's Series A funding, which was completed in August 2000, raised $25.5 million from top-tier investors including the venture capital firm of Kleiner Perkins Caufield & Byers, Dongah Elecomm Corp. and Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. . "CENiX has made a significant amount of progress in only a short period of time," said Kun Soo Lee, chairman and CEO of Dongah Elecomm and a founding investor in CENiX. "We are very much looking forward to working with CENiX to expand their market presence in Asia." "We believe this latest funding infusion that includes a strong mix of high quality strategic and financial investors demonstrates the company's compelling value proposition," said Dr. Melvyn Dixon, president and CEO of CENiX. "This new round of investment will enable us to continue to develop new products and expand our world-class automation capability." This investment complements the company's recent achievements in product development and manufacturing. CENiX is currently shipping the industry's first MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. compliant 10Gb/s UNiPAK.10(TM) optical subsystem A unit or device that is part of a larger system. For example, a disk subsystem is a part of a computer system. A bus is a part of the computer. A subsystem usually refers to hardware, but it may be used to describe software. for use in metro access and regional 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 applications. A dramatically size reduced version will begin to ship in 2Q02. The company also recently completed its state-of-the-art fully automated manufacturing facility and design center in Lehigh Valley, which will enable volume production to meet customers' needs for a secure and continuous source of supply. "CENiX is successful because we are focused on executing and delivering subsystems that offer an unbeatable combination of integration, density, and capacity," stated Ed Coringrato, vice president of Finance and Business Development. "In one of the most difficult financing environments in recent history, CENiX has been able to raise a substantial amount of funding by offering a compelling value proposition backed by a solid business plan. We believe this combination will continue our current success in a challenging marketplace." About CENIX Inc. CENiX was established in July 2000 to design and manufacture the next generation integrated optical subsystems to satisfy the growing bandwidth requirements Bandwidth requirements (communications) The channel bandwidths needed to transmit various types of signals, using various processing schemes. Every signal observed in practice can be expressed as a sum (discrete or over a frequency continuum) of sinusoidal of the Internet age. Optoelectronic interfaces are required to seamlessly move data and voice signals between the electrical and optical domains of any optical communications infrastructure. CENiX has established its manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. and corporate headquarters in Lehigh Valley and its product development and marketing in Irvine, Calif. For more information visit www.cenix.com. Note to Editors: CENiX and UNiPAK.10 are trademarks of CENiX Inc. |
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