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Agility Receives $70 Million in Second Round of Funding; Accelerates Delivery of Next-Generation Optical Networking Infrastructure Solutions

Source: Agility Communications

Worldview Technology Partners, Dell Ventures, and Mustang Ventures Join Leading Investment Team to Endorse Pioneer of Widely Tunable, High-Power Lasers

SANTA BARBARA, Calif. Agility Communications, Inc., a pioneer of next-generation optical networking infrastructure solutions, announced today that it has received $70 million in its second round of funding. The funding round was led by Worldview Technology Partners with strategic investments from Dell Ventures and Mustang Ventures, the corporate venture arm of Siemens Information and Communication Networks. Significant investments from Amerindo Investment Advisors, Berkeley International Capital Ltd., Meritech Capital Partners, Milton Chang, Morgenthaler Ventures, and U.S. Venture Partners are also part of this round. This brings the total equity investment in Agility to more than $85 million. Agility s widely tunable, high-power lasers will be used by optical networking infrastructure companies to help communications providers increase network capacity, maximize existing network resources, streamline the planning process for network growth, and dynamically provision bandwidth.

The extraordinary bandwidth demands driven recently by ever-increasing Internet traffic require the communications industry to look for a new solution that can maximize the capacity of all channels in a fiber optic network. Widely tunable, high-power lasers have been endorsed by industry experts as the way to eliminate the problem of having some network channels under-utilized, while others are overloaded. With this strategic investment, its management expertise, patented technology, and premiere manufacturing facilities, Agility is uniquely qualified to deliver a new class of widely tunable, high-power lasers. Agility s initial product offering is the industry s first widely tunable, high-power laser that tunes to more than 100 ITU channels. It is expected to be available by the end of this year and will enable some of the largest names in the optical networking infrastructure marketplace to build the next generation of agile networks. RHK, Inc., a telecommunications market research firm, expects the global optical networking industry to top $41 billion by 2003.

"We have witnessed firsthand the phenomenal growth in the optical networking market and see substantial, continued demand for infrastructure solutions that fully leverage network capacity and streamline the process for network growth. Agility has quickly amassed tremendous momentum and industry support for its widely tunable, high-power lasers," said John Boyle, general partner, Worldview Technology Partners. "We are pleased to support Agility as it establishes new benchmarks for the optical networking industry."

"Tunable lasers are a key component for the new generation of dynamic optical networks," said Jay Liebowitz, director of RHK s Optical Components service. "We are forecasting that the optical component market for terrestrial optical networking will exceed $8.6 billion by 2003. Agility has significant resources for pursuing this market."

"Tunable lasers are critical to our next-generation systems," said Luis Llovera, investment partner, Mustang Ventures. "We re positive about investing in Agility because we re confident that they ll provide the kind of widely tunable, high-power lasers that our customers at Optisphere Networks, Inc. (the optical networking subsidiary of Siemens Information and Communication Networks, Inc.) need."

"Agility has all the ingredients for success -- an experienced executive team, innovative, reliable optical networking solutions, superior engineering and manufacturing expertise, and a huge market opportunity," said Ron Nelson, chief executive officer and president, Agility. "With this strategic investment, we will rapidly expand our wafer fabrication and packaging capabilities, aggressively accelerating our high-volume, automated assembly process to meet burgeoning customer demand."

About Worldview Headquartered in Palo Alto, California, Worldview Technology Partners was formed in 1996. It is an established venture capital firm with a strong track record of investing in, and helping build leading U.S information technology and telecom companies. Worldview adds significant value to portfolio companies through active participation and its proven ability to help U.S entrepreneurs successfully expand their businesses into the Asia-Pacific region. For more information about Worldview Technology Partners, visit their web site at: www.worldview.com.

About Agility Communications, Inc. Agility Communications, Inc., is pioneering breakthrough optical networking infrastructure solutions that dramatically reduce the costs and complexity of supporting agile networks. Developed for Dense Wavelength Division Multiplexed (DWDM) networks, Agility s first products, widely tunable, high-power lasers, will help communications providers to increase network capacity, maximize existing network resources, streamline the planning process for network growth, and dynamically provision bandwidth. Industry analysts from RHK expect the global optical networking industry to top $41 billion by 2003. Founded by a team of optical networking veterans in Oct. 1998, Agility is headquartered in Santa Barbara, California and has manufacturing facilities in Allentown, Pennsylvania. Agility investors include Amerindo Investment Advisors, Berkeley International Capital Ltd., Dell Ventures, Milton Chang, Meritech Capital Partners, Morgenthaler Ventures, Mustang Ventures, U.S. Venture Partners, and Worldview Technology Partners. For more information about Agility solutions visit, http: www.agilitycom.com, send email to info@agilitycom.com or call 805-690-1700.

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Agility Communications and the Agility logo are trademarks of Agility Communications, Inc. in the United States and other countries. All other company and product names mentioned are the trademarks or registered trademarks of their respective companies.

Contact: Trainer Public Relations Lisa Blaisdell (949) 837-3510 lisa@trainerpr.com

 

Trainer Public Relations
Lisa Blaisdell
(949) 837-3510
lisa@trainerpr.com
 
E-mail: lisa@trainerpr.com
Web site: http://www.agilitycom.com
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