BTI Systems adds $15 million in financing
NOVEMBER 6, 2008 -- The round included new investor Export Development Canada as well as existing investors.
NOVEMBER 6, 2008 -- BTI Systems (search for BTI Systems) says it has closed $15 million in financing. The round included new investor Export Development Canada (EDC), as well as existing investors. BTI will use the funding to expand its global position as a provider of packet optical network edge and access equipment.
"BTI exemplifies excellence in Canadian technology and innovation. With its cadre of international partners, we believe that BTI is poised to experience significant growth and success on the world stage. EDC is pleased to be partnering with the BTI team to facilitate their plans for further global expansion," said Jennifer Brooy, vice president, EDC.
Over the past year BTI has delivered its BTI 7000 Packet Optical Edge and BTI 700 Ethernet Access series while scaling its operations globally with a new European headquarters in Belfast, Northern Ireland, and Asian operations in Shanghai, China.
"Our customers continue to invest in compact, energy-efficient, high service density solutions for high-definition video, wireless backhaul, and Ethernet business services," said Allan Kline, CFO, BTI Systems. "We have a strong commitment to delivering solutions that provide our customers with the highest ROI, and as a result we are seeing our customer base grow."
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