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PacketFront closes €26 million financing to address the carrier market


Kista, Sweden, 02 July 2008 - PacketFront, a leading supplier of purpose built FTTH solutions, has closed a €26 million financing round to address new market opportunities in the broadband sector. The financing round was completed by the existing stakeholders European Equity Partners, Amadeus Capital Partners Ltd and TLcom Capital LLP.

PacketFront has established a position as a leading supplier of broadband solutions to City and Greenfield carriers in Europe and the Middle East and is now looking to take its leading edge capabilities into the carrier segments of the market.

“From the outset, PacketFront has been recognized for delivering feature rich, service aware broadband infrastructure and, as our current customer base expands, these capabilities are being recognized by the carrier community” says PacketFront chairman and European Equity Partner, Hans Blomberg. “We have seen many of our customers transform to small Telecom Operators in their own right, and this give us the platform to address the much larger Telecom Operator market.”

'The fundings will be used to expand our access portfolio to include GPON and to make the total solution more open, standard based and modular” says PacketFront CEO, Niclas Sonesson. 'Our intentions are to go head to head with the large traditional telecommunication equipment vendors”

'Our unique selling point will be the same as with our existing city carrier customers offering purpose built and feature rich access products and customer premises equipment. PacketFront’s award winning BECSTM network control system enable operators the ability to lower operational costs by automating business processes, network provisioning and management tasks”

PacketFront already has multiple revenue-generating carrier customers with more to come. The current carrier clients include Du based in Dubai and Reggefiber based in the Netherlands.

About PacketFront
A pioneer of FTTH broadband networking, PacketFront develops advanced purpose-built solutions for fiber-to-the-home (FTTH) networks. PacketFront enables fully automated networks and a lower total cost of ownership. As an industry leader, the company is committed to advancing technical and business innovation for FTTH networks. With its head office in Stockholm, Sweden, PacketFront also has regional offices in the USA, Europe and Middle East. For more information, please go to www.packetfront.com

About EEP
European Equity Partners provides capital to companies in Northern Europe who are seeking their first round of external funding. Leveraging their continually growing network of advisors and business contacts with relevant technical, science and practical business experience, EEP gives each company input and support from a tailored and dedicated EEP team. EEP pursues a thematic approach to investing, focusing on sectors where significant growth opportunities exist. This results in EEP being a more effective and knowledgeable value-add investor. To date, EEP has focused on telecoms and IT opportunities and has recently begun actively pursuing investments in healthcare. For more information, please go to www.eeplp.com

About TLCom
TLcom Capital LLP is a London-based venture capital firm investing since 1999 in Telecom, Media and Technology (TMT) companies across Europe and Israel. TLcom currently manages total commitments of approximately €200 million, including the TLcom I fund (2000 vintage), and the TLcom II fund that had a first closing and is currently raising further capital with a final target size of €150 million. TLcom's investment strategy is to identify, back and assist high quality entrepreneurs and management teams with disruptive technologies and business models, compelling intellectual property and deep market knowledge. TLcom primarily target companies in the following industry segments: mobile; internet protocol (IP) technologies and services; broadband based network architecture and service platforms; semiconductors and materials; web based applications, services and technologies; digital media and technologies targeting the digital home environment. TLcom Capital Partners is IMRO registered and is a member of EVCA. Offices are placed in London, advisory in Rome and Milan. For more information, please go to www.tlcom.co.uk

About Amadeus Capital Partners
We invest across the technology spectrum in industries that include communications and networking hardware and software, media, e-commerce, computer hardware and software, plus the medical technology and clean energy technology sectors. Since we started in 1997, we have used our unique skills to identify and nurture the high-technology companies of the future. With £460m under management, we have active investments in around 40 companies at any time, across Europe and selectively in Israel.
We have the vision to recognise a technology that is indeed special – a great leap forward, not just a new wrinkle. We have the imagination to see how a new product can exploit its technological advantage. We have the operational experience to nurture the right management team to make the vision a reality, helping fast growing companies to avoid pitfalls. We have a global network of technology investors and leaders that are able to help a new company succeed financially. And our team has a track record of investing successfully in high technology companies. We offer the right companies more than just capital. We offer vision, imagination, experience and a network of contacts across the globe. For more information, please go to www.amadeuscapital.com


###


For more information, please contact:

PacketFront Systems AB, Sweden
CEO Niclas Sonesson, phone: +46 733-839-600
Email: niclas.sonesson@packetfront.com

Publicis Consultants | Van Sluis, Amsterdam
Magnus Sparkes
Mobile: +31 (0)6 14 89 92 15
Email: magnus.sparkes@pcvs.nl


Publisher Contact Information:

PacketFront Sweden AB
+46 733-839-600
niclas.sonesson@packetfront.com

Company profile of PacketFront Sweden AB
Past press releases of PacketFront Sweden AB .

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