OE Solutions closes $8M Series B financing

Feb. 6, 2006
February 6, 2006 Gwangju, Korea -- OE Solutions, a global supplier of optoelectronic transceivers for optical communications, announced the closing of an $8 million Series B round of funding and corporate financing, led by new strategic investor Sungshin Cement Co., Ltd. The investment brings OE Solutions' total funding to $12 million.

February 6, 2006 Gwangju, Korea -- OE Solutions, a global supplier of optoelectronic transceivers for optical communications, announced the closing of an $8 million Series B round of funding and corporate financing, led by new strategic investor Sungshin Cement Co., Ltd. The investment brings OE Solutions' total funding to $12 million.

The company says it will leverage the funding to expand volume manufacturing to meet demand for its PON and SFP product families, as well as to accelerate future product development to meet growing customer demand worldwide.

"We are very pleased to have this backing from our investors, as it will enable us to expand our capacity to meet the growing volume demand by [a] number of Tier 1 systems customers in Japan, Europe, Israel, and Korea," comments YK Park, president and CEO of OE Solutions. "The new funding will carry the company into 2007 towards profitability, and also allow us to continue to expand our sales channels in the North American, European, and Middle Eastern and Asian marketplaces."

"We are extremely impressed with OE Solutions' technical capabilities and are very excited about their growth potential in broadband access markets including FTTH," remarks Tae Hyun Kim, executive director at Sungshin Cement. "Our investment shows our confidence in OE Solutions' strategic direction and execution ability as well as in its leadership team."