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Opto Speed Garners $17.5M

Opto Speed raises $17.5M (€20M) in a round led by the Carlyle Group; Opto Speed will exhibit at OFC

March 12, 2002

1 Min Read

MEZZOVICO, Switzerland -- Opto Speed, a developer and manufacturer of innovative Indium Phosphide based opto-electronic components, today announced that it has secured E20 million in a second round of financing led by The Carlyle Group, one of the world's leading venture capital firms. A syndicate of additional investors is expected to complete the financing round.Seeking to further increase its market presence, Opto Speed will use the funds to open a US office and increase its sales and marketing activity. In parallel, the company will expand manufacturing capacity at its plants in Germany and Switzerland. In addition, funds will aid further research and development of 10Gb/s and 40Gb/s optical components, monolithically integrated opto-electronic devices and next generation components."The funding we received from Carlyle, a leading investor in the telecommunications sector, is a powerful endorsement of our position in the marketplace," said Roberto Dall'Ara, chairman and chief executive officer of Opto Speed. "Carlyle's capital and in depth knowledge of our industry are critical in helping us expand the capacity of the business and return to profitability."Opto Speed executives will be exhibiting the company's latest products at Optical Fiber Communication (OFC) 2002 in Anaheim, California (March 17th to 22nd). Opto Speed will be found at booth 3151.Opto Speed SACarlyle Venture PartnersFor more information on OFC 2002, please visit: www.nottheofc.com

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