Bay Microsystems raises $16 million

July 26, 2007
JULY 26, 2007 -- Bay Microsystems says it will use the funding to enhance operations and continue its global expansion in response to "overwhelming demand" for Chesapeake, the company's 40G network processing silicon, as well as its recently introduced ABEx family of WAN virtualization system technology.

JULY 26, 2007 -- Network processor company Bay Microsystems Inc. (search for Bay Microsystems) today announced the closing of its most recent round of capital funding. New institutional investors Quicksilver Ventures and W Capital led the financing. Bay's existing institutional investors, including Selby Venture Partners, Needham Capital, Pacifica Fund, Glenbrook Capital, Crossbridge Partners, and Franklin Park Investment Partners also participated in this most recent round.

As a result, the company has secured an additional $16 million capital. Bay Microsystems says it will direct the proceeds toward enhancing operations and continuing its global expansion in response to "overwhelming demand" for Chesapeake, Bay's 40G network processing silicon, as well as its recently introduced ABEx family of WAN virtualization system technology. Bay has initiated its global outreach by adding sales offices in Mainland China and expanding its representation in Korea and Japan. The company says it also is extending its presence in six regions across Europe, along with four regions in North America.

According to company representatives, Bay Microsystems also will broaden its development and support capacity by adding design centers, facilitating product development, and enhancing local support for new and existing customers.

Bay Microsystems says its Network Processing and Traffic Management family is scalable, intelligent, and ultra-high performance. In addition to satisfying the needs of the most advanced network requirements, the company says its advanced technology is ideally suited for a range of metro and carrier Ethernet class products as well as a range of multi-service provisioning platforms.


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