IPtronics receives 2nd round funding

October 12, 2006

1 Min Read

ROSKILDE, DK -- IPtronics receives USD 2 mio. in second round funding from a group of private investors to continue the expansion of the company. The goal is to become a leading supplier of integrated circuits to the emerging market for short reach optical interconnect forecasted to replace high speed electrical connection in next generations computer systems and storage networks.

”It is a pleasure to provide the folks at IPtronics the necessary funding to achieve aggressive goals. They demonstrate a combination of pioneering spirit, technical competence and business acumen, the kind of companies we depend on growing new businesses in Denmark” says Peter Bang, former Navision partner.

”I worked closely with these people in Giga and in Intel Corporation and I am convinced they will manage to turn their strong professional constellation and experience in their field into world class results, to the benefit of their customers, the employees and the shareholders” says Henrik Johansen, former Giga director of new business and applications, and spokesperson of the investor group.

“I’m very pleased that we’re now able to attack the market opportunities in the near future”, says IPtronics CEO Niels Finseth, who keeps the door open for additional investments in IPtronics at a later stage.

IPtronics A/S

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