October 11: Copenhagen, Denmark: TPACK today announced the closure of its second round of funding amounting to approx. 10 million Euro. The new funding round includes Vækstfonden as a new investor together with the existing investors Innfond and Slottsbacken.
The investment confirms the investors continued confidence in TPACK's technology, business model and strong customer uptake. The new capital injection insures TPACK's focus on growth and expansion of the business.
TPACK's technology and solutions enable high quality data transport across public telecommunication networks. Over the coming years, data transport in the public network is expected to increase dramatically due to the increased use of Voice-over-IP and introduction of HDTV and Video-on-demand services. TPACK's solutions will play a key role in enabling "Triple Play" and securing the bridge between existing and new technology and services.
"We believe that TPACK has a strong, field proven technology platform and a compelling business model. We were particularly impressed by TPACK's existing customer portfolio and their positive feedback on TPACK as a valuable partner and supplier. On this basis, we are confident that TPACK with this round of funding is well positioned for further growth and to take full advantage of the development in the market", said Ulrik Jørring, Senior Vice President, Vækstfonden.
"The closure of this funding round is occurring at the right time for TPACK. Our design-wins in the Ethernet over SONET/SDH market over the last 5 years are now bearing fruit and new opportunities are developing in Carrier Ethernet and MPLS. The new capital that this funding provides secures a solid financial platform on which TPACK can build over the coming years", said Mogens Elsberg, Chairman TPACK.
"The market has responded strongly to TPACK's value proposition and we are seeing increased interest in all of our solution areas. We have been privileged over the last 5 years to work with some of the largest equipment vendors in the world, who have driven us to develop leading edge solutions for Ethernet transport. With this new funding, we now have the means to expand our activities in North America and Asia and aggressively pursue exciting new developments, such as PBT and T-MPLS, as well Ethernet over WDM", said Peter Viereck, CEO TPACK.
For more information, contact TPACK at http://www.tpack.com/contact.
About TPACK
TPACK is a leading provider of linecard solutions for packet data transport and switching. This includes Ethernet/MPLS over NG-SONET/SDH and Carrier Ethernet, including PBT and T-MPLS. TPACK solutions are based on Field Programmable Gate Array (FPGA) devices that allow rapid development and customization. This allows TPACK to meet customer specific needs without sacrificing time-to-market. TPACK's customer base includes Tier 1 equipment providers who account for more than 50% of the optical transport equipment market. TPACK is headquartered in Copenhagen, Denmark.