Hexago closed $6 million in financing from the Solidarity Fund QFL, BDC Venture Capital and Innovatech Québec

April 24, 2006

2 Min Read

MONTREAL -- Hexago, the company behind IPv6 deployment solutions, today announced it closed $6 million in financing from the Solidarity Fund QFL, BDC Venture Capital and Innovatech Québec. The funds will be used by the company to support sales and marketing efforts in emerging IPv6 markets and to support research and development of new IPv6 products.

"Hexago is well positioned for growth by winning major sales in the ISP and U.S. government markets," said Bruce Sinclair, Hexago President and CEO. "Based on the success of our customers' initial IPv6 trials and deployments, we are confident we have the right solutions at the right time. This investment, combined with our current sales, will allow us to expand our product line and commercially expand into Asia and the U.S. federal market for IPv6."

According to a recent report by RTI International, the cost for all stakeholder groups to transition to IPv6 will be approximately US$25 billion over 25 years. The report, IPv6 Economic Impact Assessment, was published in October 2005 and prepared by RTI for the US National Institute of Standards & Technology.

"The Solidarity Fund QFL is committed to investing in companies like Hexago, which are positioned to dramatically advance the development and implementation of next-generation communications," said Jacques Bernier, Senior Vice-President, Information Technologies, Telecommunications and Industrial Innovations, at the Fund.

Hexago has strong growth potential in the market for the new IPv6 Internet and has demonstrated market demand for its Migration Broker™ product by selling to some of the top ISPs and military organizations in the world. The company has a track record of early successes in sales of its product to marquee clients such as KDDI, US Department of Defense's Defense Information Systems Agency, AT&T and France Telecom, and has an experienced management team comprised of IPv6 experts. "We're anxious to use these funds to help Hexago achieve its short- and long-term objectives," continued Mr. Bernier.

"BDC Venture Capital is proud to offer Hexago its support," stated Hung Vu, Director, BDC Venture Capital. "The company has demonstrated its leadership and innovation potential through the development of Migration Broker -- an easy and cost-effective IPv6 solution that doesn't require the replacement of existing hardware. IPv6, the next-generation Internet protocol already largely implemented in Asia-Pacific, is now ready for business use in North America, and Hexago is well equipped to effectively manage its widespread deployment."

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