Tuesday, June 4, 2013

Overture Secures $10 Million Venture Loan

Overture announced a $10 million venture loan facility with Horizon Technology Finance Corporation. 

The new facility follows a recently announced $8 million equity investment that includes an opportunity to secure up to $11.7 million.  

The company said this new facility will accelerate the company’s introduction of its Ensemble Open Service Architecture and continue the expansion of its Carrier Ethernet product portfolio.  

“Obtaining financial backing from Horizon lends credence to the strength of our business model that is built on optimizing service creation, activation and assurance for our customers,” said Mike Aquino, president and CEO,Overture. “These new funds could bring the total to more than $20 million in new operating capital. This will allow us to advance software-defined and virtualized network services and continue to lead the market with the best and most innovative Carrier Ethernet solutions for service providers and operators around the world.”

http://www.overturenetworks.com

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