PacketFront Raises New Round

PacketFront, a Swedish provider of broadband solutions to urban and Greenfield carriers in Europe and the Middle East, has raised EUR 26 million in new funding. Return backers include European Equity Partners, Amadeus Capital Partners and TLcom Capital.

PRESS RELEASE

PacketFront, a leading supplier of purpose built FTTH solutions, has closed a EUR 26 million financing round to address new market opportunities in the broadband sector. The financing round was completed by the existing stakeholders European Equity Partners, Amadeus Capital Partners Ltd and TLcom Capital LLP.

PacketFront has established a position as a leading supplier of broadband solutions to City and Greenfield carriers in Europe and the Middle East and is now looking to take its leading edge capabilities into the carrier segments of the market.

“From the outset, PacketFront has been recognized for delivering feature rich, service aware broadband infrastructure and, as our current customer base expands, these capabilities are being recognized by the carrier community“ says PacketFront chairman and European Equity Partner, Hans Blomberg. “We have seen many of our customers transform to small Telecom Operators in their own right, and this give us the platform to address the much larger Telecom Operator market.“

“The fundings will be used to expand our access portfolio to include GPON and to make the total solution more open, standard based and modular“ says PacketFront CEO, Niclas Sonesson. “Our intentions are to go head to head with the large traditional telecommunication equipment vendors“

“Our unique selling point will be the same as with our existing city carrier customers offering purpose built and feature rich access products and customer premises equipment. PacketFront's award winning BECS^TM network control system enable operators the ability to lower operational costs by automating business processes, network provisioning and management tasks“.

PacketFront already has multiple revenue-generating carrier customers with more to come. The current carrier clients include Du based in Dubai and Reggefiber based in the Netherlands.

About PacketFront

A pioneer of FTTH broadband networking, PacketFront develops advanced purpose-built solutions for fiber-to-the-home (FTTH) networks. PacketFront enables fully automated networks and a lower total cost of ownership. As an industry leader, the company is committed to advancing technical and business innovation for FTTH networks. With its head office in Stockholm, Sweden, PacketFront also has regional offices in the USA, Europe and Middle East. For more information, please go to www.packetfront.com

About EEP

European Equity Partners provides capital to companies in Northern Europe who are seeking their first round of external funding. Leveraging their continually growing network of advisors and business contacts with relevant technical, science and practical business experience, EEP gives each company input and support from a tailored and dedicated EEP team. EEP pursues a thematic approach to investing, focusing on sectors where significant growth opportunities exist. This results in EEP being a more effective and knowledgeable value-add investor. To date, EEP has focused on telecoms and IT opportunities and has recently begun actively pursuing investments in healthcare. For more information, please go to www.eeplp.com

About TLCom

TLcom Capital LLP is a London-based venture capital firm investing since 1999 in Telecom, Media and Technology (TMT) companies across Europe and Israel. TLcom currently manages total commitments of approximately