Circadiant Systems Secures Funding from Intel Capital.Business/Technology Editors ALLENTOWN, Pa.--(BUSINESS WIRE)--Oct. 29, 2001 Circadiant Systems, Inc., an optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. testing equipment company, today announced it has secured an investment from Intel Capital. The new capital will help the company accelerate the growth and deployment of its products and services. Circadiant announced on September 10 that it received $10 million in second-round financing. "Intel Capital has invested in Circadiant to help facilitate the development of testing solutions that will help increase the quality of next generation telecommunication networks," said Tom Mader, senior engineering manager in Intel's Optical Platform Division. "Intel is passionate about encouraging the expansion of the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. and optical technologies are key to enhancing network bandwidth and the growth of the Internet economy." Testing equipment is one segment of the optical networking market expected to experience steady growth over the next three years. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Frost & Sullivan, the optical testing market is currently estimated at $2.3 billion and expected to grow to nearly $4 billion by 2004. Circadiant is introducing a new class of test equipment, designed for current and future market needs, that will help optical equipment and component vendors enhance productivity, ensure product quality and decrease time-to-market. "We are pleased that Intel Capital, which has invested in several businesses throughout the optical market, has joined our second round of financing," said John French, 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. , Circadiant Systems. "The funding we've received from investors, coupled with the feedback so far from beta customers, gives us confidence that the solution we're bringing to market will help advance the optical testing equipment market." About Circadiant Systems, Inc. Founded and staffed by a team of distinguished engineers with extensive experience in optical components, networks, protocols and testing and a rich pedigree at Bell Labs, Circadiant Systems (www.circadiant.com) provides optical component and network equipment makers with a purpose-built, intelligent testing system that significantly reduces development and manufacturing costs while accelerating the time-to-market of high-quality optical networking solutions. To that end, Circadiant Systems has introduced a new class of testing equipment that offers standardization, automation and scalability in a system purpose-built to meet the needs of the current and future optical networking market and is well positioned 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>. the multi-billion dollar optical testing industry. Circadiant is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Allentown, Pennsylvania, and is funded by leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] , including Anthelion anthelion: see halo. Capital, EnterTech Capital, Intel Capital, Kal Shastri, PA Early Stage and TL Ventures. About Intel Capital Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . For more information, visit www.intel.com/capital (http://www.intel.com/capital>. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion