Optiwave Corp. secures $7 million to expand simulation software products

January 22, 2002--Optiwave Corp., developer of optical simulation software for the fiber-optic telecommunications industry, today announced that it has secured $7 million in financing from VenGrowth Capital Partners and the Business Development Bank of Canada (BDC)

Jan 22nd, 2002

Optiwave Corp., developer of optical simulation software for the fiber-optic telecommunications industry, today announced that it has secured $7 million in financing from VenGrowth Capital Partners and the Business Development Bank of Canada (BDC).

This financing will support Optiwave's long-term growth and strategic goals, claim company representative, and marks the first time in seven years of operation that Optiwave has received external funding.

"We are committed to expanding our product lines and further solidifying our position as a world leader in cutting-edge photonic design automation software," claims Z. Jan Jakubczyk, Ph.D., president and chief executive officer of Optiwave. "We have great momentum going into 2002, and we will continue to develop top-of-the-line products that give our customers a distinct competitive advantage in the fiber-optic telecommunications industry."

For more information about Optiwave Corp. (Ottawa, Canada), visit the company's Web site at www.optiwave.com.


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