VIPswitch Raises $15 Million in Second Round Financing.Business Editors/High-Tech Writers MONTREAL, Canada--(BUSINESS WIRE)--April 25, 2000 Terabit Optical MAN start-up attracts investment from Boston, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Seattle, Philadelphia, New York Philadelphia, New York may refer to:
London, Quebec City and Montreal VIPswitch (www.VIPswitch.com), The Terabit Optical MAN Company, today announced that it has received $15 million of financing from key international players from the telecom and networking industry. This Series B financing was led by new investors Private Equity Finance Ltd., (other investments include Corvis and Hyperchip) and Innovatech Grand Montreal (prior investments include Positron positron: see antiparticle. positron Subatomic particle having the same mass as an electron but with an electric charge of +1 (an electron has a charge of −1). It constitutes the antiparticle (see antimatter) of an electron. Fiber Systems, TecSys and Cognicase) and included TechnoCap. VIPswitch angel investors include leading US telecom analysts (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and San Francisco), partners in leading US billion dollar technology mutual funds (New York and Philadelphia), Bill Ballantine Bill Ballantine, a well-respected illustrator of circus subjects, was also a professional clown and a prolific writer who contributed circus and travel essays to major magazines. (Seattle), who has backed companies such as CyberSafe, Northwest Telecom and Hyperchip, Stephane Lepage (Quebec City) and Luc Giguere (London) of telWeb Schlumberger. "Private Equity Finance has financed 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. leaders such as Corvis and we feel the VIPswitch's vision for terabit optical MANs is very exciting," said Patrick Davenport of Private Equity Finance Ltd. "VIPswitch will parlay this investment into market leadership," said Luc Beaubien, President & 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 VIPswitch. "These strategic venture partner commitments enable VIPswitch to capitalize on the explosive growth in terabit optical metropolitan area networks." About VIPswitch VIPswitch Inc, The Terabit Optical MAN Company, provides terabit switches for Metropolitan Area Networks (MANs) covering both LANs and WANs. VIPswitch is the only vendor to deliver guaranteed Quality of Service to Network Service Providers (NSPs) and enterprises with integrated Video & Voice IP. VIPswitch is a privately owned company with offices in Montreal and Boston. For more information, please visit VIPswitch on the web at www.VIPswitch.com, send an email to info@VIPswitch.com or call 800-638-2677. About Investors Innovatech Grand Montreal (www.innovatech.qc.ca) is a $350 million Cdn fund that finances technology innovation in Montreal in information and telecommunication technologies, health sciences, and industrial technologies. As a financial partner, Innovatech's main interest is in company start-ups and technology transfer from beginning to completion of the project. Innovatech has been an investor in companies such as Positron Fiber Systems, TecSys and Cognicase. Private Equity Finance (www.vontobel.ch) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Vontobel Holding AG, which is listed on the Swiss Exchange Swiss Exchange The major securities market of Switzerland. . As of the third quarter of 1999, the Vontobel Group, together with its partners, has the equivalent of just over $40 billion US under management in investment funds. Private Equity Finance has backed networking leaders such as Corvis and Hyperchip. TechnoCap Inc. (www.Technocap.com) is a $100 million net-focused venture company that is in the business of building leading companies in massively scalable networking. VIPswitch is a registered trademark of VIPswitch Inc. VIPswitch 160, VIPswitch 360, VIPswitch 1600, VIPswitch 3240, and the VIPswitch QoS IP MAN switch series are proprietary trademarks of VIPswitch. All other trademarks are property of their respective companies. |
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