 |
|
 |
|
Back to the latest Press Releases
 |
Circadiant Systems Secures Funding from Intel Capital
ALLENTOWN, Pa.--(BUSINESS WIRE)--Oct. 29, 2001--Circadiant Systems, Inc., an optical networking testing equipment company, today announced it has secured an investment from Intel Capital. The new capital will help the company accelerate the growth and deployment of its products and services. Circadiant announced on September 10 that it received $10 million in second-round financing.
"Intel Capital has invested in Circadiant to help facilitate the development of testing solutions that will help increase the quality of next generation telecommunication networks," said Tom Mader, senior engineering manager in Intel's Optical Platform Division. "Intel is passionate about encouraging the expansion of the Internet economy and optical technologies are key to enhancing network bandwidth and the growth of the Internet economy."
Testing equipment is one segment of the optical networking market expected to experience steady growth over the next three years. According to Frost & Sullivan, the optical testing market is currently estimated at $2.3 billion and expected to grow to nearly $4 billion by 2004. Circadiant is introducing a new class of test equipment, designed for current and future market needs, that will help optical equipment and component vendors enhance productivity, ensure product quality and decrease time-to-market.
"We are pleased that Intel Capital, which has invested in several businesses throughout the optical market, has joined our second round of financing," said John French, president and CEO, Circadiant Systems. "The funding we've received from investors, coupled with the feedback so far from beta customers, gives us confidence that the solution we're bringing to market will help advance the optical testing equipment market."
About Circadiant Systems, Inc.
Founded and staffed by a team of distinguished engineers with extensive experience in optical components, networks, protocols and testing and a rich pedigree at Bell Labs, Circadiant Systems (www.circadiant.com) provides optical component and network equipment makers with a purpose-built, intelligent testing system that significantly reduces development and manufacturing costs while accelerating the time-to-market of high-quality optical networking solutions. To that end, Circadiant Systems has introduced a new class of testing equipment that offers standardization, automation and scalability in a system purpose-built to meet the needs of the current and future optical networking market and is well positioned to capitalize on the multi-billion dollar optical testing industry. Circadiant is a privately held company based in Allentown, Pennsylvania, and is funded by leading venture capital firms, including Anthelion Capital, EnterTech Capital, Intel Capital, Kal Shastri, PA Early Stage and TL Ventures.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital.
CONTACT: Paul Fitzgerald Circadiant Systems, Inc. (610) 871-0500 or Anastasia Efstratios Lois Paul & Partners (781) 782-5873
|
|
|
|
|
|
