PacketFront raises €15 million in venture financing; provides FTTH solution to Jordan Telecom

June 7, 2004

2 Min Read

STOCKHOLM -- PacketFront, the next generation broadband infrastructure provider, has announced that it has successfully completed a 15 million Euro round of venture funding, led by new investor Amadeus Capital Partners. The company’s two existing investors, European Equity Partners (EP) and TLcom Capital Partners, also participated in this third round of financing. The new capital is equivalent to 137 million Swedish kronor, making it one of the largest venture capital investments this year in Sweden.

This financing will allow PacketFront to expand its international organisation and invest in further strengthening its product portfolio and marketing efforts.

"In today´s market, only companies that can show strong customer interest and high demand for their products are able to attract funding from new investors," said Martin Thunman, CEO at PacketFront. "Therefore, we are especially delighted to have such a distinguished venture firm as Amadeus join our group of investors. Closing this round of financing is a milestone for PacketFront, and will allow us to grow our global sales organisation and further increase our investments in product development and marketing."

"This funding round is of critical importance for PacketFront in order to strengthen its technological leadership and allow for aggressive expansion, particularly in Japan and Korea," said Hans Blomberg, chairman of PacketFront. "We are particularly pleased to have added Amadeus Capital Partners to our list of investors during this round of funding. Amadeus’ unparalleled experience in building the profile of international technology companies will further help PacketFront to achieve continued market penetration."

In a separate release:

PacketFront announces that Jordan Telecom in Amman, Jordan, has chosen to base its fibre-to-the-home, Integrated Multimedia Service Platform (IMSP) on PacketFront’s technology.

The IMSP represents an integration of image, voice and data services, offering a set of practical and high quality services such as TV broadcasting, VoD, visio telephony etc via one ultra-speed access line.

Dr Shabib Ammari, Chairman at Jordan Telecom explains that " the new platform will allow users to watch TV programs and films at extremely high digital standards, through fibre to the home technologies. Customers will access several services through a residential gateway, surf the Internet with their PC, watch TV or VOD with their TV set and a set top box, and use analogic telephone or IP phones for voice services."

Jordan Telecom launches this project using PacketFront’s solution, consisting of the control and provisioning system BECS™ , the ASR series of broadband routers and the CPS series of customer-placed, multi-service switches.

PacketFront AB

Jordan Telecom

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