PACKETFABRIC SECURES $75M JOINT VENTURE FUNDING.
Patrick Soon-Shiong, Chairman and CEO of parent company, NantWorks, said of the investment, We developed PacketFabric to serve our needs at NantWorks in healthcare, artificial intelligence and media as a leading-edge connectivity provider. The infrastructure capabilities PacketFabric has enabled at NantWorks is clearly relevant for other enterprises around the world. The requirement to transport terabytes of data in our world of genomics, is now available through the functionality built at PacketFabric. We are proud of these accomplishments built by our team. We're confident the partnership with Digital Alpha and Cisco can further accelerate PacketFabric to become a market leader that redefines agile connectivity for customers around the world.
Already a leader in 100Gbps ethernet connectivity for enterprise clients in North America and Europe, PacketFabric will use the investment to further develop the technology and scale its availability rapidly across the U.S., as well as globally. The joint venture will serve as a catalyst for additional network architecture enhancements, creating groundbreaking customization and responsiveness features. Chad Milam, President and CEO of PacketFabric commented We are excited to expand our network to new locations and provide our customers with new services and even more features to enable instant, reliable, highly scalable connectivity through the partnership with Digital Alpha."
The new services brought to market by PacketFabric will provide the agility and security that enterprise customers seek in the cloud-based management of connectivity infrastructure. On the joint venture, Digital Alpha Managing Partner Rick Shrotri said The PacketFabric customers we spoke with recognized seamless provisioning, customization, competitive pricing, and ease of ownership compared to traditional telecommunications services as key advantages. There's tremendous potential for new service creation so we're thrilled to partner with the PacketFabric team to build on the business' already strong foundation.
The investment also enables new partnership opportunities with Cisco. These include:
- Evolving to a more flexible and scalable Segment Routing (SR-MPLS) architecture
- Enabling agile provisioning and management for reliable multi-cloud on-ramp services through PacketFabric's globally distributed network.
Jonathan Davidson, Senior Vice President and General Manager of Cisco's Service Provider Business noted: "PacketFabric is a modern-day telco that provides fully automated WAN connectivity for agile network services that are provisioned on-demand in a cloud-like model. They're using innovative SR-MPLS on top of Cisco's market leading NCS 5500 product portfolio. We're very happy to have them as a partner."
With this investment, Digital Alpha will be a controlling investor and has appointed Partners Rick Shrotri and Vasa Babic to the board, bringing decades of technology and telecommunications experience.
Alliant Partners acted as the exclusive financial advisor to PacketFabric for the transaction.
About Digital Alpha Advisors, LLC
Digital Alpha is an investment firm focused on digital infrastructure and services required by the digital economy, with a strategic collaboration agreement with Cisco Systems, Inc. As part of this agreement, Digital Alpha has preferred access to Cisco's pipeline of commercial opportunities requiring equity financing. Digital Alpha believes that it is the first fund focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including smart cities, next generation networks, and enterprise data management and communication solutions. For more information, visit http://www.digitalalpha.net.
PacketFabric is the highly scalable network as a service platform, delivering secure and scalable connectivity between any two or more points on-network. PacketFabric's easy to use platform is built API-first, allowing customers to create and manage private networks and rapidly move their data to the Cloud. Its proprietary software defined network controller is developed in-house to provide real- time interaction with the network platform to provision new services, manage existing services, and view service statistics. For more information, visit https://www.packetfabric.com/
NANT is a technology and biotechnology company solving humanity's greatest problems, addressing global life- threatening diseases, global environmental threats and providing a global forum for policy change.
NANT companies drive innovation across disciplines, connecting breakthrough research in biology, healthcare, energy, communications and artificial intelligence. NANT serves as an incubator for projects delivering on the next age of the Fourth Industrial Revolution.
Our work expands the boundaries of science and technology pressing for real world applications that can be used now, while broadening the scope of scientific discovery and enhancing ground-breaking research.
NANT companies accelerate and lead improvements in healthcare treatment to those in need, develop and deploy breakthroughs in medical therapy, augment intelligence as well as deliver energy storage. With the development of these efforts there is a need to share the power, reach and global impact of this research.
Today, NANT is developing unique solutions and platforms that will have major impact on mankind including:
- Establishing the nation's largest whole genome machine learning artificial intelligent platform interrogating the cancer genome
- The nation's largest database and trained predictive models on whole genome expression in cancers across 20 tumor types
- The nation's largest pediatric brain tumor atlas of whole genomes from over 2500 samples from 1200 patients, with mutation expression linked to treatment and outcomes
- The nation's first TCGA Atlas linked to outcomes in collaboration with the Department of Defense
- The nation's first cancer therapeutic combination of natural killer cells and adenovirus design to drive a vaccine like response against cancer
- Addressing life threatening infectious diseases with potential breakthrough therapies: a universal influenza vaccine, a treatment for drug resistant TB, a treatment to eradicate residual HIV sanctuaries
For more information, visit http://www.nant.com.
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|Date:||Sep 1, 2019|
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