BTI Systems adds $10 million Series C funding

2013-03-11 11:33:44

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BTI Systems adds $10 million Series C funding
At the same time it unveiled its Intelligent Cloud Connect platform (see “Intelligent Cloud Connect from BTI Systems targets SDN-enabled cloud services”), BTI Systems revealed that it has closed a $10 million Series C funding round in January. The round included existing investors Bain Capital Ventures, BDC, Covington Capital, and GrowthWorks, with Bain taking the lead position.The round brings the total funding the company has raised since the first quarter of 2011 to $33 million. BTI Systems believes this should be the last funding round, according to Sally Bament, senior vice president, global marketing at the company.Most of the funding will go towards the launch and delivery of the new Intelligent Cloud Connect, Bament says. This includes scaling the company’s R&D, marketing, sales, and business development resources.“Whether it’s checking Facebook, running a quick Google search, watching a YouTube video, or logging into, we’re all demanding immediate access to increasing amounts of information in the cloud from mobile devices. These simple tasks are generating an exponential increase in the amount of data being sent across networks and between data centers,” said Bain Capital Ventures Partner Deepak Sindwani. “BTI identified this shift early on and designed the Intelligent Cloud Connect as a purpose-built solution for cloud and content service providers. We believe it is the only solution in the market that allows next-generation providers of mobile data and video to intelligently scale their data center operations quickly, cost-effectively, and with maximum flexibility.”BTI Systems also has opened a new office in Palo Alto, CA, which will focus on sales and business development. The company has added Thomas Nolette as senior vice president of global operations as well. Nolette comes to BTI Systems from Crossbeam Systems, where he was vice president of operations.The new funding comes as the company has enjoyed 40% compound annual growth in revenues during the past six years.
Finisar offers optical spectrum analyzer for R&D and production
Finisar Corp. (NASDAQ: FNSR) has unveiled its WaveAnalyzer 1500S High-Resolution Optical Spectrum Analyzer. Targeted at R&D and production applications, the WaveAnalyzer 1500S offers ultra-high resolution and high-speed spectral analysis, the company asserts. Finisar also took the wraps off of its WaveShaper 100S Tunable Optical Filter.The WaveAnalyzer 1500S leverages coherent detection and offers sub-picometer wavelength resolution across the entire C-band, Finisar says. It can execute a full C-band scan with 20-MHz spectral resolution in 0.25 s; a detailed spectral analysis of a 100-GHz window takes less than 25 ms, Finisar adds.The combination of fast measurement speed, high sensitivity, and low noise floor not only reduces test time, provides more accurate results, Finisar says. The WaveAnalyzer 1500S has what the company describes as “a very small footprint” and low power consumption as well.Meanwhile, the WaveShaper 100S Tunable Optical Filter also has been designed with production test applications in mind. It offers precise control over the filter bandwidth and center frequency to support for current test requirements as well as next-generation flexible-grid-based networks and subsystems. The filter can be controlled using Finisar's WaveManager graphical user interface. A simple application programming interface (API) supports both Windows and Linux.Finisar will show off the new instruments, as well as the rest of its WaveShaper portfolio, at OFC/NFOEC from March 19-21 in its booth, #2405. The company will also have a workshop featuring the instruments at its booth March 18.
Ovum says better times ahead for optical network equipment sales
Echoing the sentiments expressed by other market research analysts (see “Infonetics sees 2013 growth in optical hardware sales”), Ovum predicts that sales of optical transport equipment will bounce back modestly in 2013 after a tough 2012.Last year closed with a whimper, according to Ovum’s recently released “Market Share Alert: 4Q12 and 2012 Global ON” (where “ON” stands for “optical network). The fourth quarter marked the third consecutive quarter that fell short of its year-ago equivalent, Ovum reports. Last year’s final quarter was down 6% versus the same quarter in 2011, according to Ovum.For the year, optical communications equipment sales finished at nearly $14.6 billion, more than $1 billion below 2011 levels. Spending in Asia-Pacific was up 3% for year, but couldn’t prop up the market in the face of declines of 13% in North America, 12% in EMEA, and 3% in South & Central America (SCA).“The current downturn is being driven by several factors including faltering economic growth in Europe and the U.S., lower pricing due to intense vendor competition, and a quickening in the shift in spending away from TDM aggregation equipment,” says Ovum analyst Ron Kline.This “recession,” as Ovum described it in a press release, will continue into this year. However, vendors shouldn’t be heading for the exits just yet. “All is not lost, even with four uninspiring quarters of 2012 behind us; Ovum’s forecast predicts 2% growth globally for 2013 with the ON market surpassing $17.1 billion in 2018,” according to Kline. “Overall we foresee strong growth in SCA, modest growth in Asia-Pacific, and low growth in EMEA, North America, and submarine line terminal equipment sales.”Kline notes that vendors appear to have picked up the same positive sentiments, if perhaps only for the near term. “Guidance from vendors is cautiously optimistic, with good short-term visibility into order growth, while long-term vision on customer spending patterns remains cloudy,” he reports.
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