SEPTEMBER 25, 2006 -- CoreOptics Inc. (search for CoreOptics), a designer and manufacturer of 10 and 40-Gbit/sec optical networking subsystems, today announced that T-Com Venture Fund, the corporate venture fund of the Broadband/Fixed Network division of Deutsche Telekom AG, has invested in the company. The amount of the investment was not disclosed. According to Saeid Aramideh, vice president of marketing at the company, the investment is in addition to the $28 million funding from new and existing investors announced this past July.
T-Com Venture Fund will gain a seat on the CoreOptics board, Aramideh adds.
With the new funding and the investments announced in July, CoreOptics is in a strong position to move into the next phase of its evolution. Aramideh says the company has been in partnership and M&A discussions, the latter as both acquirer and acquired. The company also is considering going public; in fact, Aramideh described an IPO as "a very strong possibility."
"This strategic investment emphasizes the current development partnership between T-Com, CoreOptics and its manufacturing partners and backs today's roll-out of products and future innovation of CoreOptics. We are very pleased with T-Com Venture Fund's decision to invest in our company," said Hamid Arabzadeh, CoreOptics president and CEO. "This is indeed a strong validation of our company, our product portfolio, and the future roadmap of our business to deliver innovative products to our carrier customers for their faster and more cost-effective service delivery."
CoreOptics has developed 10/40-Gbit/sec transponder subsystem products to overcome optical layer impairments using digital signal processing techniques based on a Maximum Likelihood Sequence Estimator (MLSE) algorithm. CoreOptics currently offers 10G DWDM, 40/43G Single Channel Short Reach, and DWDM 300-pin MSA transponder subsystems. Aramideh says the company's subsystems are installed in approximately 15 carrier networks worldwide.
"In expanding its network infrastructures and introducing forward-looking applications and services our company is continuously pursuing innovative products and solutions," said Wolfgang Schmitz, senior executive vice president, Technology Engineering Centre, T-Com.
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