CyOptics Inc. Raises $57M From Cisco, Corning, Intel and Vitesse; Original investors and additional new investors join in funding active optical component manufacturer.Business Editors & High Tech Writers BURLINGTON Mass.--(BUSINESS WIRE)--Oct. 4, 2000 CyOptics Inc., a leading developer of optoelectronic transmission components for 40Gbps and ultra-long-haul transmission, today announced that it had raised an additional $57M of 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. , bringing its total equity financing since its inception to more than $77M. The monies will be used to fund product development, as well as to accelerate expansion of the company's manufacturing facilities and customer support infrastructure. 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. led the round, which also included Corning, Intel Capital and Vitesse Semiconductor. All CyOptics original investors, including Jerusalem Venture Partners, SCD ScD [L.] Scien´tiae Doc´tor (Doctor of Science). SCD 1 Sickle cell disease, see there 2 Subacute combined degeneration, see there 3 Sudden cardiac death, see there , Soros Private Equity Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Sprout Group, Innovacom, Natexis and Eurofund, participated as well. "I am proud to have this superb group of corporate investors, each a leader in its market, participate in this round of equity financing. We expect these companies to provide tremendous added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
"Their participation in this round is of great strategic significance for CyOptics," added Erel Margalit, chairman of the board of CyOptics, and General Partner of Jerusalem Venture Partners, the seed investor in the company. "We are excited about the potential this technology offers transmission systems as they move to higher data rates, longer distances, increased functionality, and lower costs," stated Wendell Weeks, executive vice president, 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. at Corning. "We see CyOptics' products and direction as complementing our efforts in new optical fibers, transmission lasers and receivers, and pump lasers. As a leading optical layer company, Corning is delighted to be a partner in this funding round." "The Internet continues to grow at an exponential rate, and innovations such as 40Gbps optical components and components for ultra-long haul transmission will be a necessary development to keep pace with this growth," commented Tom Willis This article is about the Australian football player. For the character on the American sitcom The Jeffersons, see Tom Willis (The Jeffersons). Thomas Willis , director of optical investments at Intel Capital. "CyOptics is active at the fore (Naut.) at the fore royal masthead; - said of a flag, so raised as a signal for sailing, etc. See also: Fore front of developing these components using new materials such as Indium Phosphide phosphide Any of a class of chemical compounds in which phosphorous is combined with a metal. Phosphides exhibit a wide variety of chemical and physical properties. Phosphides that are rich in metal have high melting points and are hard, brittle, and chemically inert; these ." "We are pleased to participate in this funding round," added Lou Tomasetta, 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 Vitesse Semiconductor. "CyOptics products address a market of vital interest to Vitesse, namely, 40Gbps optical transmission, and their optical components are synergistic with Vitesse's high performance semiconductor devices." About CyOptics CyOptics was founded in early 1999, and is headed by veterans of Lucent, Intel and Lasertron. It has a superlative technical team, including leaders in the field of Indium Phosphide optical component development and manufacturing, and optoelectronic device packaging. The company has headquarters in Burlington, Mass., with offices in Los Angeles, and research and development facilities in Israel. CyOptics has full optoelectronic component manufacturing capability, including Indium Phosphide wafer fabrication, regrowth Re`growth´ n. 1. The act of regrowing; a second or new growth. The regrowth of limbs which had been cut off. - A. B. Buckley. , and characterization, as well as microelectronic packaging, test and qualification facilities. Visit the Web site at www.cyoptics.com. About Cisco Systems Cisco Systems is the worldwide leader in networking for the Internet. Cisco provides end-to-end networking solutions that customers use to build a unified information infrastructure of their own, or to connect to someone else's network. www.cisco.com About Intel Capital Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastucture, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital. About Corning Established in 1851, Corning Inc. creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning's revenues in 1999 were $4.7 billion. www.corning.com About Vitesse Semiconductor Vitesse Semiconductor Corp. is the leading designer and supplier of innovative, high performance semiconductors utilizing state-of-the-art processes for the manufacturers of next generation 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 and optical networking communications equipment. Vitesse also develops storage area networking ICs and enclosure management products that monitor and communicate critical reliability and availability information. The company's products address the needs of Core, Access, Optical and Enterprise network equipment manufacturers who demand a combination of high speed, high complexity and low power dissipation. Vitesse has headquarters in Camarillo, Calif., and operates two fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. facilities in Camarillo and Colorado Springs, Colo. www.vitesse.com |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion