Agility seals strategic partnership with Nissho Electronics; Agility closes series C funding, bringing total to over $200M

February 26, 2002

3 Min Read

SANTA BARBARA, Calif. —— Agility Communications™ Inc., the leader in providing widely tunable lasers for the metro-core, switching, and long-haul markets, announced today a strategic partnership with Nissho Electronics Corp. that will give Agility entry into the Japanese marketplace. Under the partnership, Nissho will serve as Agility’s distribution partner in Japan, increasing Agility’s market leadership position as it continues to ramp up production volume of its award-winning widely tunable lasers. Nissho is also a participant in the additional closing of Agility’s Series C round of funding, which was announced in a separate release today.Agility is the first and currently the only tunable laser company to ship production quantities of widely tunable lasers to multiple customers and samples to more than 40 customers. Providing breakthrough integrated solutions in optical networking infrastructure, Agility meets the price and performance requirements of the metropolitan-core, switching, and long-haul markets while dramatically reducing the cost and complexity of providing agile networks. Optical equipment manufacturers utilize Agility’s solutions to help service providers deliver high bandwidth and maximize their existing network resources at the lowest cost.Headquartered in Tokyo, Nissho Electronics in corporation with Nissho Iwai American Corp. (NIAC) has distribution and partnership agreements with some of the world’s leading optical networking companies, including Avici Corp., Ciena, Juniper Networks, and OMM Inc. Nissho’s expertise encompasses the marketing and development of advanced technology in a range of fields combining information, telecommunications, and electronics."Partnering with a leader such as Agility mirrors Nissho’s mission to provide the domestic Japanese market with advanced products incorporating new technologies, as well as to offer new approaches. The market for optical networking components that address the overwhelming deployment of bandwidth on demand is increasing and will continue to grow," said Takashi Fukuda, director and board member of Nissho Electronics Corp.In a separate release:Agility Communications™ Inc. announced today more closings of its Series C funding. The additional $27 million brings the company’s total funding to over $200 million. These Series C closings represent a combination of credit lines, led by General Bank, and venture funding from Nissho Electronics Corp., Siemens Venture Capital, London Pacific Assurance Limited, and Mitsubishi International Corp. Goldman Sachs, a leading global investment banking and securities firm, served as an agent for the company. In a separate release today, Agility also announced a partnership with Nissho Electronics Corp. that launches Agility into the Japanese marketplace.Initially announced in September 2001, Agility’s first Series C funding closing, led by General Motors Investment Corp., totaled $83 million. The initial closing also included strategic investments from CIENA and Tellabs, two of the optical networking industry’s leading equipment manufacturers; strong financial support from existing investors Meritech Capital Partners and Worldview Technology Partners; and new investors Alliance, Global Strategic, and Granite Global Ventures. Agility’s Series B round totaled $70 million and was led by Worldview Technology Partners. The company’s Series A round totaled $15 million from leading venture capitalists U.S. Venture Partners and Morgenthaler Ventures. Seed funding from strategic investors, including Milton Chang, brings Agility’s total funding to over $200 million. "We are thrilled to be supporting Agility as it continues to establish a leadership position in the growing tunable laser market," said Thomas Chen, vice president of General Bank. "There is a huge market opportunity for widely tunable lasers. We are extremely confident in the company and are thrilled to be working with Agility at this time."Agility Communications Inc.Nissho Electronics Corp.

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