Core Networks Receives Royal Bank Capital Partners and Intel Capital Investment in Follow-on Financing.Business/Technology Editors HALIFAX, Canada--(BUSINESS WIRE)--May 30, 2001 Funds Fuel Core's Growth in the High-speed Internet See broadband. Over Cable Industry Core Networks, a developer of activation and network management software solutions for the high-speed Internet over cable industry, today announced that Royal Bank Capital Partners and Intel Capital have invested in the company as part of a follow-on round to its March financing. The funding will be used to support Core Networks' aggressive growth plans and to expand business development activities. Details of the financing were not disclosed at the request of the investor companies. In March, Core Networks announced US $10.5 million in Series B equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. led by Royal Bank Capital Partners Telecommunications Fund, with participation from Skypoint Capital Corporation and ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP). ACF - Advanced Communications Function Equity Atlantic Inc. "Our successful financings are a testament to the bright future of the high-speed Internet over cable industry," said Jeffery Campbell, 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. , Core Networks. "Cable broadband subscribers outnumber DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary subscribers by a 2:1 ratio. Core Networks will continue to help service providers double their daily installations and increase revenues." Core Networks develops activation and network management software solutions for the high-speed Internet over cable industry. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , the CoreOS(TM) Broadband Provisioning and Management System addresses three key areas in the delivery and management of high-speed Internet services: -- Activation and DOCSIS self-provisioning -- Subscriber support and self-care -- Enhanced network monitoring and management The company has also recently added the CoreOS(TM) CMTS (Cable Modem Termination System) A computerized device that enables cable modems to send and receive packets over the Internet. It inserts IP packets from the Internet into MPEG frames and transmits them to the cable modems via an RF signal. Manager to its product offering. The CMTS Manager is a sophisticated network intelligence tool that helps cable operators configure, monitor, and manage their data transport equipment for maximum return on investment. "Royal Bank Capital's Telecom Fund is pleased to provide further support to Core Networks," said Peter Diedrich, Managing Director, Royal Bank Capital Partners and Core Networks' Board Member. "The company is well positioned for market leadership in the broadband OSS Oss (ôs), city (1994 pop. 62,141), North Brabant prov., S Netherlands; chartered 1399. It is a significant industrial center. Manufactures include meat products, chemicals, pharmaceuticals, electrical equipment, and metalware. solutions space -- a growing and important sector in the communications arena. The company's focus is unique and the market opportunity is tremendous." "Core Networks solves critical challenges in cable provisioning, network management and monitoring for both cable operators and subscribers," said Taizoon Doctor, general manager, Intel Cable Networking Operation. "Intel is interested in removing bottlenecks that limit widespread broadband deployment and our investment in Core Networks supports that objective." Core Networks will use these funds and the earlier $10.5 million investment to further expansion of marketing, sales, and business development activities in the US, Western Europe, South America and Australasia. The company will strengthen its team with added resources in business development, sales, and product development. About Royal Bank Capital Partners Royal Bank Capital Partners is the private equity arm of Royal Bank Financial Group. Royal Bank Capital Partners combines expertise in venture capital, merchant banking and mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the to offer North American high The North American High is an impermanent high-pressure cell or anticyclone created by anticyclogenesis (anticyclone + the Greek word genesis, meaning "birth, origin"), a formative process that occurs when cool or cold dry air settles onto western North growth companies a complete range of private equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. , including management buy-outs and recapitalizations. For more information, visit www.rbcap.com. About Intel Capital Intel Capital, Intel Corporation's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital. About Core Networks Inc. Core Networks Inc (www.CoreNetworks.com) develops activation and network management solutions for high-speed Internet service providers. The company's flagship product, the CoreOS(TM) Broadband Provisioning and Management System, addresses three primary areas in the delivery of broadband services: activation, customer support, and network monitoring and management. Core Networks has customers deploying and field-testing CoreOS(TM) in six countries around the world. The company has been a vendor member at CableLabs since 1998, and works with major CMTS and cable modem vendors, as well as other industry partners to ensure advanced feature support and compatibility. Established in 1998, Core Networks is headquartered in Halifax, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
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