REDWOOD CITY, Calif. -- ASSIA, Inc., a leading solutions company for broadband service providers, today announced that it has closed a Preferred Stock offering with a total participation of $25 million.
As of March 2013, total preferred equity holdings in ASSIA exceed $54 million, largely from strategic investors, including the company's major telecom operator customers. Among investors in this strategic round are the investment arms of TelefĂłnica S.A., Swisscom Ltd., and Deutsche Telekom, all of which have participated in previous preferred share rounds. In addition, a Kuwaiti investor group took a significant stake in the offering.
"ASSIA is a clear pioneer in solving problems in access networks' last mile, and the company has made vast contributions to broadband communications," said Mohammed Al-Sadhan, head of several Kuwaiti investment funds. "It is a great opportunity to fund industry-leading solutions that help service providers better respond to consumer demand for broadband connectivity."