ANDOVER, MA and CAMBRIDGE, UK – June 2, 2009 - Polatis, Inc. the performance leader in all-optical switch technology, has raised $8M in venture capital. The funding was by existing investors 3i Ventures, Alta-Berkeley Ventures, DFJ Esprit, Flagship Ventures, Gainesborough & Peponi Investments, JK&B Partners, and Massachusetts Technology Development Corporation. With the financing, Polatis’ new President and CEO Gerald Wesel and senior advisor Dr. Niel Ransom have joined the Board of Directors, further strengthening the executive management team following the appointments of sales veteran James Miller as VP of Sales and Martin Stephenson as CFO last year.
"We very much appreciate our investors’ strong support," said Gerald Wesel, who was named CEO in January 2009. "There is increasing demand for all-optical products in the markets we serve. The investment enables us to create further demand for our existing products by expanding worldwide channel partners; and to accelerate the development of solutions that scale to the largest deployments while maintaining superior performance and reliability characteristics."
The shift from copper to fiber networks in many areas of enterprise and telecom access networks enables the deployment of all-optical switching technology for performance improvements and simplification as well as cost and environmental efficiencies. Polatis all-optical products operate at the transport layer of fiber networks, providing the intelligent foundation for switching massive amounts of data traffic in a precise and automated way. It develops and manufactures the industry’s highest performance, lowest loss all-optical switches that scale to the largest networks in telecommunications, data center, government & defense, and test & measurement markets.
"One of the brightest spots and fastest growing areas of the telecom equipment market is and has been optical equipment. Perhaps this market has been obscured by industry fixation on Cloud - but whatever the reason - service providers are realizing that the days of SONET/SDH are numbered and now is the time to start investigating and investing in next generation infrastructure that will meet the needs of the converged quadruple-play networks, including the mobile network traffic that Yankee Group sees increasing at an astounding CAGR of 140% through 2012," said Jennifer Pigg, vice president at Yankee Group
New Board member Dr. Niel Ransom, a veteran of the telecommunications market, has served strategic technical and architectural roles at Bell Laboratories and Bell South, and most recently held the position of CTO at Alcatel. He is an advisor to service providers and equipment providers, and sits on the Boards of several private technology companies. Gerald Wesel noted, "Dr. Ransom brings tremendous value to the Board as we broaden our footprint in new strategic markets."
Polatis develops and manufactures the world's lowest loss optical switching products for government and defense, telecommunications and data center, test & measurement and video broadcast markets. Through a unique combination of proven technologies and new, innovative architectures, Polatis has achieved class-leading performance and reliability that solve some of today's toughest optical networking challenges. Polatis all-optical switching products are proven in more than 500 networks all over the world.
To learn more please visit our website at: www.polatis.com
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