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Network Elements Closes $77 Million in Financing

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BEAVERTON, Ore., Jan. 8 -- Network Elements Inc. has closed on $77 million in financing. Intel Communications Fund and Nortel Networks have joined Credit Suisse First Boston Private Equity and Western Technology Investment in the current round of financing, bringing the total funding of Network Elements to $100 million. Previous investor New Enterprise Associates led the round and original seed investor, Alloy Ventures, also participated. Our Optical Networking Module products are in high demand and we have the right products for this fast-growing market, said Bruce Murdock,...Read full article

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    Published: January 2001
    CommunicationsindustrialNews & Features

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