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Ciena Invests in Luminous Networks
Sep 2003
CUPERTINO, Calif., Sept. 25 -- Luminous Networks, a provider of multiservice transport platforms that support voice, data, video and wavelength services, announced today it has raised $25 million in series E funding. The investment was led by Ciena Corp., a provider of network solutions, and by venture firm DCM-Doll Capital Management. The round was supported by investments from current investors including DynaFund Ventures, Vanguard Ventures, Morgan Stanley Venture Partners, Scientific-Atlanta Inc. and Pyramid Technology Ventures. Separately, Luminous also announced today a reseller agreement with Ciena under which Ciena will market, sell and support Luminous Networks' PacketWave family of products.

Luminous said this latest round of funding is expected to carry it into profitability by mid-2004.

"Luminous Networks has had tremendous success in delivering quality optical networking solutions to telecommunications carriers and cable service providers worldwide," said Alex Naqvi, president and CEO of Luminous Networks. "The continued support from our existing investors along with a strategic investment from our partner, CIENA, is a testament to the company's strength. This latest investment will allow us to continue to meet the needs of our customers worldwide and expand our leadership in the marketplace."

Luminous has sales offices in the US, Europe and China, and sells its products through a network of resellers and distributors in Asia-Pacific and Europe.

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