Metconnex Closes $7.5 Million Financing Round...CHICAGO -- ...Leader in wavelength selective switching enters commercialization phase fuelled by successful customer evaluations well timed Adj. 1. well timed - done or happening at the appropriate or proper time; "a timely warning"; "with timely treatment the patient has a good chance of recovery"; "a seasonable time for discussion"; "the book's publication was well timed" to meet growing global service provider demand Metconnex, a leader in the supply of wavelength selective switch (WSS WSS Windows Sharepoint Services (Microsoft) WSS Web Services Security (OASIS) WSS Wavelength Selective Switch (Reconfigurable Optical Add/Drop Multiplexer) ) modules for use in reconfigurable optical add/drop multiplexers (ROADMs), today announced the closing of a CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $7.5 million (US$5.8) equity and operating capital Noun 1. operating capital - capital available for the operations of a firm (e.g. manufacturing or transportation) as distinct from financial transactions and long-term improvements capital, working capital - assets available for use in the production of further assets financing round. The investment will enable Metconnex to deepen its relationships with strategic suppliers and contract manufacturers, continue to grow its marketing and sales team, and further expand the company's WSS portfolio. Participants in the round include the existing international syndicate: Skypoint Capital, Vesbridge Partners, Innovacom and BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller Venture Capital as well as a new member; Comerica. "With over 15 successful customer evaluations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia and a cost effective, manufacturable platform, Metconnex is ready 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>. demands for WSS-based ROADMs reinforced here at Supercomm," said Peter Becke, Metconnex's chief executive officer. "We are extremely pleased to have the continued support of a strong global syndicate as we enter our next phase of growth." Metconnex offers a WSS portfolio manufacturable in volume, at a size and price point not previously possible. Through the patent-pending hybrid integration of Planar Lightwave Circuits (HI-PLC), Metconnex delivers optimized solutions for a range of ROADM ROADM Reconfigurable Optical Add/Drop Multiplexer ROADM Reconfigurable Add Drop Multiplexing requirements. Metconnex's 1x4 WSS provides a cost competitive replacement for existing 1x1 Wavelength Blocker solutions with the added benefit of multi-degree connectivity demanded by service providers. The company's 1x9 WSS available in the same compact form factor, can be used to address higher port count colored and colorless ROADM applications. As demonstrated by the 1x14 and 1x24 WSS capability shown at OFC OFC Office OFC Officer OFC Of Course OFC Oxygen Free Copper OFC Oceania Football Confederation (soccer) OFC Optical Fiber Cable OFC Optical Fiber Communications OFC Optical Fiber Conference 2005, Metconnex's platform is capable of easily scaling to larger port counts as required in the future. "The manufacturability and extensibility of Metconnex's platform is unmatched in the industry," said William Sweeney, senior vice president of Comerica's Technology and Life Sciences Division. "Metconnex has emerged as a frontrunner in the growing ROADM/WSS market. Our desire to develop a financial partnership with Metconnex was driven by their readiness to capture design wins this year and deliver volume driven by the growing carrier and MSO (1) (Multiple System Operator) Typically refers to a cable TV organization that owns more than one cable system, but it may refer to an operator of only one system. demand." About Metconnex Metconnex is a leader in the supply of wavelength selective switch (WSS) modules for use in reconfigurable optical add/drop multiplexers (ROADMs).The company's hybrid integration platform enabled by planar lightwave circuits (HI-PLC) leverages the cost advantage of PLC technology while delivering high performance, low power consumption and extensibility. The company's WSS portfolio enables system and subsystem vendors to build flexible products with significant advantages in cost, performance and size across multiple applications and markets. For more information visit www.metconnex.com or call +1.613.254.9660. About Skypoint Capital (R) Skypoint Capital(R) (www.skypointcorp.com) forms and manages venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: that stimulate and leverage the ever-changing telecommunications and information technology sector. Its funds provide early-stage equity capital to new or growing businesses with the potential to become major enterprises. The firm, which currently has US $185 million under management, invests primarily in Canada, but also in the US, Israel and the UK. The members of the Skypoint Capital team have participated in more than 75 technology start-ups in the Ottawa and Montreal regions. About Vesbridge Partners Vesbridge Partners thrives on helping early-stage leading edge networking and IT infrastructure companies bring their software and service platforms to enterprise and carrier markets. Vesbridge Partners, headquartered in Boston, MA, has a long history as part of St. Paul Venture Capital (SPVC SPVC Soft Permanent Virtual Connection SPVC Switched Permanent Virtual Circuit SPVC Security Policy Verification Committee SPVC Soft Permanent Virtual Circuit ). SPVC is a well-established early-stage 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] with a strong track record over the past 15 years of helping finance some of the industry's most successful technology companies. For more information visit www.vesbridge.com. About Innovacom Since its creation by France Telecom in 1988, Innovacom has helped launch innovative telecommunication and information technology start ups, such as Business Objects, Cobalt Networks, Gemplus, Infovista, Intershop, Kelkoo, LastMinute.com, Soitec, and Tumbleweed tumbleweed, any of several plants, particularly abundant in prairie and steppe regions, that commonly break from their roots at maturity and, drying into a rounded tangle of light, stiff branches, roll before the wind, covering long distances and scattering seed as . With 400 million Euros under management and offices in Paris, Stockholm, and San Francisco, Innovacom is an active early-stage investor in Europe and North America. For more information visit www.innovacom.com. About BDC Venture Capital BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 different companies. It currently manages more than $500 million in venture capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Funds Investments. For more information visit www.bdc.ca. About Comerica's Technology and Life Sciences Division Comerica's Technology and Life Sciences Division is one of America's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is the 17th largest banking company in America, with $50 billion in assets. For more information visit www.comerica.com. http://www.metconnex.com |
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