(COMTEX) B: Cisco Systems Invests in Texas Startup Monterey Networks, Developer of 'Wavelength Router'
RICHARDSON, TEX. (May 17) BUSINESS WIRE -May 17, 1999--Monterey
Networks, the company developing Wavelength Routers(TM) for use in
next-generation public optical data networks, has received an
investment from Cisco Systems.
Under the terms of the agreement, Cisco has acquired a minority equity
stake in Monterey, and Graeme Fraser, vice president and general
manager of Optical Internetworking at Cisco, has joined Monterey's
board of directors. Michael Goguen, with Sequoia Capital, will become a
director of Monterey.
Harnessing Abundant Latent Bandwidth
"With dense wavelength division multiplexing (DWDM) technologies
designed to significantly expand capacity on long-distance networks, a
scalable and efficient approach for provisioning, management and
restoration of this bandwidth will be a key requirement for service
providers," said Fraser. "The team at Monterey Networks has taken a
holistic view to solving this problem with exciting prospects for New
World network operators."
Jon Bayless, chairman of the board of Monterey and former chairman of
Ciena Corp., said, "Monterey's vision of the emerging global network
involves a symbiotic relationship between IP routing and switching
devices -- platforms that intelligently manage quality of service and
enforce service policies on the network -- and the intelligent
transport of wavelengths -- wavelength routing -- between those
platforms. It is very gratifying to have the global leader in
networking technology share and endorse this vision."
Joint Product Demo at Supercomm '99
Monterey will unveil details of its Wavelength Router product line this
month, and the two companies will hold a joint technology and
interoperability demonstration at Supercomm '99 in Atlanta, June 7-10.
Shipments of the product will begin late this year.
In addition to Bayless and the two new members, Monterey's board of
directors includes Joe Bass, Monterey president and CEO; H. Michael
Zadikian, founder and vice president of marketing; Todd Brooks, partner
at Mayfield Fund; and Roland Van der Meer, partner at Communications
Ventures.
Monterey had previously raised $10 million in first-round financing
from Communications Ventures, JAFCO America Ventures, Sequoia Capital
and Sevin Rosen Funds.
About Monterey Networks
Monterey Networks develops products that will help build the core of
emerging next-generation optical data networks and enable the broad
deployment of multi-gigabit bandwidth services by telecommunications
carriers. Monterey's Wavelength Router architecture integrates
wavelength routing intelligence directly into the optical network's
long-haul core, permitting the instant provisioning of rapidly
restorable wavelength routes between routers and switches across the
optical core. For more information, call Monterey at 972/301-1000 or
visit the Monterey web site at www.montereynets.com.
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CONTACT: Monterey Networks, Inc.
Cynthia King-Ryne, 972/301-1000
cking-ryne@montereynets.com
or
Ulevich & Orrange, Inc.
Matthew Quint/Janis Ulevich, 650/329-1590
info@u-o.com
KEYWORD: CALIFORNIA GEORGIA TEXAS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED TELECOMMUNICATIONS
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