SEPTEMBER 25, 2006 -- Ocean Broadband Networks Ltd. (OBN), a supplier of Ethernet Passive Optical Network (EPON; search for EPON) equipment, has closed its Series B financing. Motorola Ventures and Atlas Venture have joined as new investors. OBN will use this new funding to expand its China operations and move to commercialize and deploy its EPON offerings. The amount of the funding was not disclosed.
OBN is shipping its EPON products with the features and performance to enable fast, easy-to-deploy, and low-cost triple-play solutions for FTTH, FTTB, and FTTC at over 100X the bandwidth of DSL, the company says. Telecom and CCTV carriers will gain the ability to offer a broader range of communications and entertainment services including IPTV, Internet access, telephony, high-speed data, VOD, SDTV, as well as HDTV.
"We are seeing rapid growth in the broadband market enabled by EPON products. The adding of Motorola and Atlas Ventures will have a strong impact on our business expansion both in depth and in broadness," said Wei Gao, co-founder/CEO of OBN.
"China is of continuing strategic importance to Motorola. Besides shoring up strength in mobile devices and network infrastructure, Motorola is expanding its reach into emerging communications technologies that can help deliver seamless mobility solutions to our customers in China," said Matthew I. Growney, managing director, Motorola Ventures.
"Atlas has been an international venture capital firm for over 20 years and our emerging investment activities in China are therefore a natural extension of our proven international strategy. We are very pleased with our investment in Ocean Broadband, which is our first investment in China. We are also confident about the potential of the growing investment opportunities in China and about our growing participation in this exciting development," said Gerry Montanus, senior partner at Atlas Venture.
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