MARCH 12, 2007 â�� Transceiver supplier OE Solutions Co., Ltd. (search for OE Solutions) has closed a $4.3 million Series C-round of funding, led by two Korean venture capitalists, Korean Development Bank Capital and Kibo Technology Advancing Capital. The round brings the company's total funding to date to $16 million.
OE Solutions says it will use the funds to expand its global marketing and sales efforts and to accelerate future product development to meet growing customer demand worldwide.
"We are very pleased to have the backing of these two new investors, as it will enable us to expand our global marketing and sales channels in the North American, Japanese, European, and Asian marketplaces, and also to develop highly innovative transceivers to meet the growing demand by our wireless and wireline systems customers," said Y.K. Park, president and CEO of OE Solutions. "The new funding will also carry the company into 2007 towards profitability with double revenue growth over 2006."
Jae Hyun Hong, director of Korean Development Bank Capital, commented "We are extremely impressed with OE Solutions' technical expertise and innovative products which enable the company to quickly penetrate new market spaces. The tremendous 2006 sales growth is evidence of OE Solutions' superb strategic direction and its leadership's execution of corporate objectives. Our investment signifies our confidence in their impressive growth trajectory in both wireless backhaul and broadband wireline markets for 2007 and beyond."
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