Cable vendor disintegrates

Phil Harvey, Editor-in-Chief

March 16, 2007

1 Min Read
Advent Dies Again

3:00 PM -- From The Philter's Dead Company file, Advent Networks Inc. has entered its final chapter.

Court filings show that this month Austin-based Advent, one-time maker of IP access platforms for cable providers, has converted its Chapter 11 bankruptcy status to a Chapter 7 bankruptcy.

In medical terms, they went from the intensive care unit to the morgue. (I watched Grey's Anatomy last night, so I'm qualified to use medical terms.)

The company had raised more than $24 million in equity and $22 million in convertible debt. Its investors included Motorola Inc. (NYSE: MOT) and Reliant Energy. Its customers included Time Warner Cable Inc. (NYSE: TWC) and Mitsubishi Corp., and, at its peak, it employed about 100 people.

The company had a patent granted as recently as January. It sold its intellectual property (well, it's product line, anyway) a while ago, but the new owner was not disclosed in court papers.

— Phil Harvey, Managing Editor, Light Reading

About the Author(s)

Phil Harvey

Editor-in-Chief, Light Reading

Phil Harvey has been a Light Reading writer and editor for more than 18 years combined. He began his second tour as the site's chief editor in April 2020.

His interest in speed and scale means he often covers optical networking and the foundational technologies powering the modern Internet.

Harvey covered networking, Internet infrastructure and dot-com mania in the late 90s for Silicon Valley magazines like UPSIDE and Red Herring before joining Light Reading (for the first time) in late 2000.

After moving to the Republic of Texas, Harvey spent eight years as a contributing tech writer for D CEO magazine, producing columns about tech advances in everything from supercomputing to cellphone recycling.

Harvey is an avid photographer and camera collector – if you accept that compulsive shopping and "collecting" are the same.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like