Force10 and Turin merge, pool their capital and clients
Network builder Force10 Networks has merged with Ethernet services provider Turin Networks to create a powerhouse in both spaces, with an impressive list of clients, numbering 1,300 (including eHarmony and Facebook), reports peHUB. More significant than that is the marrying of two significant pots of venture capital. Since their nearly simultaneous founding a decade ago, Force10 has raised $400 million, and Turin $250 million.
Combined under the Force10 name, the new entity, based in San Jose,… Continue Reading
Turbine confirms $40 million raised for online games
Online games powerhouse Turbine confirmed that it has raised $40 million, though the actual investors are different from what was previously rumored.
Time Warner and GGV Capital led the round along with existing investors Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital. The investment will be used to accelerate Turbine’s growth in online games. Previously, Granite Ventures was the rumored lead.
Turbine is expanding its properties, including “Lord of the Rings Online,” which is… Continue Reading
Turbine picks up $40 million, keeps mum about its next steps
Jim Crowley, the CEO of Turbine, isn’t an easy man to get a straight answer from. I heard that his company, which makes “massively multiplayer online” games such as “The Lord of the Rings Online,” was raising a new round of venture capital about a month ago. That’s a big deal, since Turbine is one of the big success stories in this industry and raising a new round could mean big new projects are in… Continue Reading
MMO game publisher Turbine raising $40M; former CEO launches Play Hard Sports
Turbine, a game publisher that makes massively-multiplayer online games but may soon be enacting a major strategic shift, is in the process of taking $40 million in new funding led by Granite Global Ventures, according to Dan Primack.
While its Lords of the Ring Online: Shadows of Angmar computer game franchise has found success, expectations are that the company will move toward the console market. Primack also speculates that it could be preparing to take a… Continue Reading
Fidelis Security Systems gets $22M for network security
Fidelis Security Systems is a network security firm with a focus on extrusion prevention — in essence, stopping leads of data like credit card information, which have plagued large companies of late.
Based in Bethesda, Maryland, Fidelis was founded in 2002. However, this funding is only the second full venture round that the company has taken.
The $22 million investment was led by Tudor Ventures, and new investor Point Judith Capital also participated. Previous investors Inflection Point… Continue Reading
Turin Networks buys Carrier Access for $92.7M
Turin Networks, a Petaluma, Calif. provider of networking equipment, will buy Carrier Access, a struggling company in Boulder, Colo. that is publicly traded on the Nasdaq exchange.
Although Turin has agreed to pay about $2.60 per share for Carrier Access, that amount could be lower if the latter company has less than $63 million on its balance sheets when the acquisition is finalized.
A number of venture firms have invested in Turin over the years, including Baker… Continue Reading
MediTract, healthcare-contract manager, recapitalizes
MediTract, a Saddlebrook, N.J., IT-based manager of hospital contracts, raised an undisclosed amount of funds in order to recapitalize itself. Tudor Ventures and GE Healthcare Financial Services particpated in the transaction.
MediTract helps hospitals and other healthcare facilities manage their vendor contracts by scanning and maintaining digital contract files. The company says it manages contracts for 4,000 healthcare facilities around the country. The additional funding will allow MediTract to expand its business to related areas such… Continue Reading
Turin Networks, telecom equipment maker, to bring in $50M more
Turin Networks, a Petaluma, Calif.-based telecom equipment maker, apparently is struggling, and looks to have taken between $26 million and $35 million financing at worse terms than previously.
Called a recapitalization round, this sort or refinancing typically lowers the value of the company, so that new investors have an incentive to invest. A lower value means they get a larger share of ownership for every dollar they invest.
VentureWire and PE Week report the different numbers today… Continue Reading