Metconnex closes $7M financing - Lightwave

Metconnex closes $7M financing

January 24, 2006 Ottawa, Canada -- Metconnex, a provider of optical wavelength selective switch (WSS) modules, announced the closing of $7 million in financing. The company says the investment represents the continued support of its international syndicate of investors, including Skypoint Capital, Vesbridge Partners, Innovacom, and BDC Venture Capital. The company also announced the promotion of David King to the role of chief operating officer (COO).

According to a press release, King has over 20 years of integrated optics and networking business experience gained through his time at Nortel, Newbridge Networks, Galian and Zenastra Photonics. He has held executive positions in Metconnex's North America, Europe, and Asia operations, and is one of the company's four founders.

"Carriers are building reconfigurable optical networks and this new investment for Metconnex will allow the company to achieve broader commercial deployment of our products and to continue expanding our operational capability," comments Peter Becke, Metconnex's chief executive officer. "I'm also pleased to recognize David's leadership, which has enabled the company to secure major design wins, and I look forward to his continuing success in delivering on our business opportunities."

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