July 2, 2008

PacketFront Raises €26M for growth

PacketFront has closed a €26 million financing round to address new market opportunities in the broadband sector. The financing round was completed by the existing stakeholders European Equity Partners, Amadeus Capital Partners Ltd and TLcom Capital LLP.

PacketFront has established a position as a leading supplier of broadband solutions to City and Greenfield carriers in Europe and the Middle East and is now looking to take its leading edge capabilities into the carrier segments of the market.

“From the outset, PacketFront has been recognized for delivering feature rich, service aware broadband infrastructure and, as our current customer base expands, these capabilities are being recognized by the carrier community” says PacketFront chairman and European Equity Partner, Hans Blomberg. “We have seen many of our customers transform to small Telecom Operators in their own right, and this give us the platform to address the much larger Telecom Operator market.”

"The fundings will be used to expand our access portfolio to include GPON and to make the total solution more open, standard based and modular” says PacketFront CEO, Niclas Sonesson. "Our intentions are to go head to head with the large traditional telecommunication equipment vendors”

"Our unique selling point will be the same as with our existing city carrier customers offering purpose built and feature rich access products and customer premises equipment. PacketFront’s award winning BECSTM network control system enable operators the ability to lower operational costs by automating business processes, network provisioning and management tasks”

PacketFront already has multiple revenue-generating carrier customers with more to come. The current carrier clients include Du based in Dubai and Reggefiber based in the Netherlands.


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