FONS Corporation raises $27.5 million in second-round financing

Feb. 14, 2001
Fiber Optic Network Solutions (FONS) Corporation, a manufacturer of passive optical components and interconnect solutions, announced that it has raised $27.5 million in a second round of equity financing.

Fiber Optic Network Solutions (FONS) Corporation, a manufacturer of passive optical components and interconnect solutions, announced that it has raised $27.5 million in a second round of equity financing. With lead funding from Oak Investment Partners and increased investments from first round participants Morgenthaler Ventures and Intel Capital, FONS will utilize the capital to further its R&D, manufacturing capabilities and global presence.

This second round of equity investment will accelerate FONS' manufacturing automation initiatives focused on increasing capacity, product reliability and reduction of product costs. FONS has undergone a significant worldwide expansion, which includes the September 2000 opening of its new corporate headquarters in Northboro MA, more than tripling its U.S. manufacturing capacity. The company's 145,000 square feet of worldwide operational space houses its proprietary manufacturing equipment, new clean rooms, R&D laboratories and engineering operations.

"These investments will support FONS Corporation's continued focus on manufacturing automation and proprietary processes, to enable high volume production and cost reduction. Furthermore, it will provide us the capability to continue to expand the depth of our product offerings from fiber management and connectivity, to fused products and micro-optic packaging, to sub-systems," stated Michael J. Noonan, President and CEO, FONS.

About FONS Corporation:

FONS' portfolio of products includes fused technology based optical components and packaged modules including splitters, taps and filter-based DWDMs, along with traditional fiber optic connectivity hardware and components such as cable assemblies, connectors, enclosures, pre-wired enclosures and frames. For more information, visit www.fons.com.