ITF Optical Technologies raises $40 million CDN
September 19, 2002--ITF Optical Technologies Inc. has secured a $40 million CDN round of financing, bringing the company's total funding to more than $143 million CDN since its beginning in 1997.
ITF Optical Technologies Inc., developer of high-performance photonic subsystems and components for next-generation optical networks, has secured a $40 million CDN round of financing, bringing the company's total funding to more than $143 million CDN since its beginning in 1997.
The current funding represents the commitment of both new and existing investors. New investors include SGF Tech Inc., who led the round, and BayTech Venture Capital GmbH & Co KG. Existing investors participating in the round include Ontario Teachers Pension Plan Board, Celtic House International Corporation, and GTI Capital.
"Given the current market situation, our ability to attract this significant amount of additional capital from new and existing investors is a strong endorsement of our team, market strategy, and positioning," contends Eric Geoffrion, ITF's president and chief executive officer. "The latest round of funding will fuel the ongoing development of ITF's optical components and sub-systems for both terrestrial and undersea customers."
For more information about TF Optical Technologies (Montreal, Quebec), visit the company's Web site at www.itfoptical.com.