That is a loss for investors in Atrica, an Israeli company with offices in Santa Clara, Calif. that had raised $180 million since being spun off from 3Com seven years ago.
The official announcement did not disclose terms. Investors over the years included Accel Partners, Ascend Technology Ventures, Benchmark Capital, Gemini Israel Funds, GunnAllen Venture Partners, Innovacom, Intel Capital, Investor Growth Capital, JK&B Capital and St. Paul Venture Capital.
Sponsored by VB
From the statement:
The acquisition will allow Nokia Siemens Networks to offer end-to-end Carrier Ethernet Transport solutions that reduce the cost and complexity of data-optimized transport networks – from access to the core network.
The 180 Carrier Ethernet specialists at ATRICA will continue their work as part of Nokia Siemens Networks. ATRICA’s main strengths are an end-to-end Ethernet solution know-how with a comprehensive portfolio including Ethernet, CPE and EGDE products as well as an associated services provisioning platform. ATRICA is the first company to be acquired by Nokia Siemens Networks. Headquartered in Santa Clara, California (U.S.) and with a development center in Tel Aviv (Israel) ATRICA has over 40 customers including Orange Business Services, KVH and Optimum LightPath.
“The products of ATRICA and Nokia Siemens Networks complement each other perfectly. With these systems, we can offer end-to-end solutions that no other vendor has,” said Bernd Schumacher, Head of IP Transport. “The solutions and products will help our customers cut the complexity and related costs of data-optimized networks.”
The market for Carrier Ethernet products is one of the fastest growing segments of the telecommunications market. Leading analysts forecast growth of 15% a year.
“Strategies, solution concepts and the technology philosophy of ATRICA and Nokia Siemens Networks are almost congruent, so we look forward to working together in the future. Our Carrier Ethernet systems will strengthen the portfolio of Nokia Siemens Networks,” noted Vivek Ragavan, Chairman of the Board of ATRICA Inc.
The acquisition is expected to take place before January 1, 2008 and is subject to customary regulatory approvals, the completion of standard closing conditions, and the agreement of a number of detailed implementation steps.
About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of communications services. The company provides a complete, well-balanced product portfolio of mobile and fixed network infrastructure solutions and addresses the growing demand for services with 20,000 service professionals worldwide. Nokia Siemens Networks is one of the largest telecommunications infrastructure companies with operations in 150 countries. The company is headquartered in Espoo, Finland.
A technology visionary and industry pioneer, ATRICA provides a full range of Carrier Ethernet transport solutions to service providers delivering Metro Ethernet services. ATRICA’s Carrier Ethernet product suite combines the benefits of Ethernet technology – including its low-cost, proven scalability, ease of management, and ubiquity in the enterprise market – with innovations in traffic engineering, service management and scalability to meet the stringent demands of next-generation transport networks. With ATRICA’s Carrier Ethernet solutions, service providers can deliver the ultimate broadband triple play services experience to their business and residential customers over a single universal transport network, with guaranteed SLAs, sub-50ms network-wide resiliency, TDM traffic support, and point-and-click, centralized OAM&P. Privately held, ATRICA has received funding from world-class venture capital firms, industry leaders, and eight global service providers. Based in Santa Clara, Calif., ATRICA has R&D facilities in Israel and the United States and business development and sales offices throughout the United States, Europe, and Asia Pacific. For more information, visit ATRICA on the Web at: www.ATRICA.com.