$20M Shoved Into Arescom

FREMONT, Calif. -- ARESCOM INC., a global provider of High Speed Internet Access (HSIA) equipment and related services for the hospitality, residential property, telecommunication and ISP markets, recently secured $20 million in funding from the issuance of private stock.In related news, the Fremont-based firm named Cheng Wu, a former CISCO Systems exec and proven entrepreneur, Chairman of the Board, and appointed global telecom expert Eric Van Zele to its Advisory Board.Max Lu, ARESCOM President & CEO, said private investors’ recent vote of confidence in the closely held company and these two key executive hires underline the strength of ARESCOM’s financial base and strategic growth plans.“We are in a select class in our competitive set because we have positive net income, positive cash flow and positive EBITDA [Earnings Before Taxes, Depreciation and Amortization],” Lu said. “Our company’s low-cost provider position and unwavering commitment to developing and delivering world-class wired and wireless HSIA solutions will continue to help ARESCOM attract investors, systems integrator partners, clients and industry leaders such as Mr. Wu and Mr. Van Zele as fellow team members.” Arescom Inc.