Transmode Systems AB, a supplier of transmission equipment for fiber optic networks, announced that it has closed an additional US$10 million round of funding, led by Pod Holding. Existing investors, Amadeus Capital Partners and European Equity Partners (EEP), also participated in the round. The financing round was completed on October 8, 2003 with a major share carried by Pod Holding, bringing the total funds collected to US$28 million since 2000. Pod Holding was attracted to Transmode based on the Company's strong business concept, its management and by its track record.
Transmode has grown over the past two years despite turbulent and tight market conditions, adding 25 new customers since Q1 2003. These developments further establish Transmode as a leading supplier of cost-effective, pay-as-you-grow optical access solutions. Additionally, the company recently strengthened its product portfolio releasing a family of aggregators and a next-generation transmission system based on managed pluggable transponders. These deliver dramatic cost efficiencies and redefine the price/ performance benchmark for metropolitan and access networking. Existing investors Amadeus and EEP have again demonstrated their confidence in Transmode's business plan and the company's ability to execute its strategies by participating in this supplemental round.
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