Granite Systems Secures $20M in Private Equity Financing; New Funding Enables Continued Rapid Expansion. - Free Online Library
Summary
"We have seen a sharp increase in demand among next generation data, Internet service and mobile providers for Granites convergent configuration management solutions. The increased capital resources will enable us to accelerate our expansion in Europe as well as in the U.S., Asia and Latin America, and to invest in attractive new product opportunities that complement our best-in-class OSS solutions. "Granite Systems Xpercom(TM) suite of products are used by next generation network service providers to shorten service ordering lead times, improve the efficiency of network capital and increase the effectiveness of network operations teams.About Global Crossing VenturesGlobal Crossing Ventures, Inc., the venture capital arm of Global Crossing Ltd. (NASDAQ: GBLX), was founded in February of 1999 to establish relationships with start-ups and entrepreneurs developing services, equipment or applications that have the potential to significantly impact the Internet or communications sectors. Through these relationships, Global Crossing Ventures, Inc. will be able to offer technical and strategic guidance on products and applications, identify new business opportunities and work side-by-side with industry visionaries to create next-generation Internet solutions. The firm invests primarily in the areas of Communications, Business Internet and Consumer Technology, and has offices in Boston, San Francisco and Minneapolis.About Granite SystemsGranite Systems (www.granite.com), based in Manchester, New Hampshire, provides next generation network configuration management systems that help telecommunications service providers reduce the cost and complexity of network operations and engineering.