Wednesday, July 25, 2007

Bay Microsystems Raises $16 Million for Network Processors

Bay Microsystems has raised $16 million in new venture funding. The company plans to use the funding for enhancing operations and continuing its global expansion. Bay Microsystems reported strong demand for its Chesapeake 40G network processing silicon as well as it's recently introduced ABEx family of wide-area-network (WAN) virtualization system technology.

New institutional investors, Quicksilver Ventures and W Capital, led the financing. Bay's existing institutional investors including Selby Venture Partners, Needham Capital, Pacifica Fund, Glenbrook Capital, Crossbridge Partners and Franklin Park Investment Partners also participated in this most recent round.

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