Calient Networks Secures $225 Million in Third Round Financing; Proceeds to Support Production and Delivery of DiamondWave Photonic Switching System.Business Editors & Technology Writers 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.--(BUSINESS WIRE)--Jan. 8, 2001 Calient Networks, an innovator of intelligent, all-photonic switching systems Switching systems (communications) The assemblies of switching and control devices provided so that any station in a communications system may be connected as desired with any other station. , announced today that it has closed a total of $225 million in financing. BlueStream Ventures led the financing, which includes equity investments of over $195 million and lease commitments of up to $30 million. Strategic investors participating in the round included Juniper Networks Juniper Networks, Inc. (NASDAQ: JNPR) is an information technology company based in Sunnyvale, California and founded in 1996. The company designs and sells Internet Protocol network products and services. , Inc., Marconi, Tellabs and ONI ONI abbr. Office of Naval Intelligence Noun 1. ONI - the military intelligence agency that provides for the intelligence and counterintelligence and investigative and security requirements of the United States Navy Systems. Also participating were a number of leading financial institutions such as Invesco, American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Financial Corporation, J. & W. Seligman & Co., Amerindo Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and TeleSoft Partners. Proceeds from this round will be used to fund Calient's move into commercial release and volume production of the DiamondWave(TM) photonic switching See optical switch. system, with first deliveries scheduled for early 2001. The MEMS-based DiamondWave switch is in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of completing the first of three phases of interoperability testing with a range of network elements, positioning it to perform dozens of applications in service provider networks. This broad applicability is representative of Calient's "Borderless Photonics" initiative, which is strongly supported by backers in this latest round of funding. In conjunction with this event, Scott Kriens, chief executive officer and president of Juniper Networks, will be added as the newest member of the Calient Networks board of directors. "Calient's leadership in photonic switching, and the company's commitment to multi-layer network standards holds great potential for the future cooperation of the optical and routing layers of next generation networks," said Kriens. "The ability to secure this level of financing under current optical market conditions is directly related to the superior product technology, significant market opportunity and seasoned executive team that Calient has put in place. The early success that Calient has experienced with service providers coupled with the backing of major strategic partners is a strong signal of the company's competitive leadership and momentum for success," said Tom Erickson of BlueStream. "Calient continues to scale capacity and resources in anticipation of the substantial market demand over the next couple of years," emphasized Charles Corbalis, Calient 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. . "We have been funded by an outstanding team of strategic and financial backers, each with impressive credentials. We are pleased to have gained the confidence and ongoing support of such reputable companies." About Calient Networks Calient Networks is a new developer of intelligent, all-photonic switching systems and software that help service providers scale their networks for explosive bandwidth demands and deliver a new generation of wavelength services. Calient's architecture and DiamondWave(TM) switching system will provide a seamless, `opto-electronic-to-photonic' migration path that is non-disruptive to legacy operations, and near-term opportunity for carriers to offer revenue-generating optical services from their photonic Dealing with light (photons). See photon and photonics. infrastructure. Founded in March 1999, the company is headquartered in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . For additional information about Calient, visit www.calient.net. Calient Networks, the Calient Networks logo, and DiamondWave are trademarks of Calient Networks, Inc. About BlueStream Ventures BlueStream Ventures is a national venture capital firm focused exclusively on investing in leading, next generation, network and enterprise infrastructure companies. For additional information about BlueStream, visit www.bluestreamventures.com. About Juniper Networks(R) Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. These systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service and manufacturing teams and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. . For more information, visit www.juniper.net. Juniper Networks is a registered trademark of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks may be the property of their respective owners. |
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