TMCnet News
Overture Networks raises $10 million in venture fundingJun 04, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Overture Networks, Inc., a developer of converged packet access platforms for Carrier Ethernet services, has secured $10 million venture loan from Horizon Technology Finance Corporation. Both the companies are based in the US. Horizon Technology is a provider of secured loans to venture capital and private equity backed development-stage companies. Deal Value (US$ Million) 10 Deal Type Venture Finance Sub-Category Venture Loan Deal Status Completed: 2013-06-04 Deal Participants Target (Company) Overture Networks, Inc. Acquirer (Company) Horizon Technology Finance Corporation Deal Rationale Overture Networks intends to use the funds to strengthen its ability to help network operators and service providers to imrove operational efficiencies and introduce new revenue-generating services. Overture Networks also intends to use the funds to introduce its Ensemble Open Service Architecture(TM) and continue the expansion of its Carrier Ethernet product portfolio. |