Meriton Networks Inc. has raised $54 million but Light Reading is asking "What
else does it have up its sleeve?" The article says Meriton has already scored some big wins in the optical networking gear market with BT's planned
21st Century network offering and is now going after the new network to be
built for Verizon Communications Inc.
The article lists some of Meriton's competitors, who have also scored recent
funding rounds. Mahi Networks Inc. got $70 million last year, Tropic
Networks Inc. wrangled $48 million of its own this year and points out other
well funded players such as Movaz Networks Inc., Fujitsu, and Infinera Inc.,
which has raised a total of $205 million.
When Light Reading asked if the $54 million might be part of some M&A
plans, the company's CEO Mike Pascoe told them,
"We certainly have some of those opportunities, but that wasn't the driving
factor for the raise," Pascoe says. "The intent is that this will take us to
cash-flow positive and to the next phase in our life, whether that be an
acquisition or M&A."
For an overarching view on later
stage networking companies receiving mezzanine round, check out Lou
Whiteman's column on the topic from 2004. —Stacey Higginbotham
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Go to story from Lightreading
Go to Tropic Networks story from The Deal
Go to Infinera story from The Deal
Go to Lou Whiteman's story from The Deal
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