Sorrento Networks, a Denver-based provider of metro optical access solutions, has acquired the assets of Redfern Broadband Networks, an Australia-based maker of optical networking equipment. No financial terms were disclosed.
Sorrento was formed earlier this year by CHB Capital Partners, which carved out the fiber optics division of Zhone Technologies Inc. (ZHNE).
Redfern had raised over US$53 million in VC funding since 2000, from firms like Allen & Buckeridge, Macquarie Technology Ventures, OCG Ventures, JPMorgan Partners and Jolimont Ventures.
Sorrento Networks, a global provider of metro optical access solutions, announced today the asset purchase of Redfern Broadband Networks (RBN) Inc. RBN, headquartered in Australia, develops, manufactures and markets optical networking equipment. Under terms of the agreement, Sorrento has acquired all assets of RBN, including products, customer contracts, channel partner relationships, test equipment and more. Financial details are undisclosed.
By acquiring RBN assets, Sorrento has expanded its metro optical access product portfolio to address customers' growing bandwidth needs in hardened, outside plant environments. With the RBN GigaEdge product suite, Sorrento now offers a cost-effective solution for carriers to extend their fiber-based services closer to their customers. The companies' products are similarly designed to help telecommunications carriers and enterprises increase the bandwidth of their existing networks and lower the cost of providing next-generation broadband services.
“Sorrento's focus is to grow our worldwide footprint by providing reliable products that address changing customer requirements, maintaining a low-cost structure and exceeding customer service expectations,” said Jim Nevelle, CEO of Sorrento Networks. “By acquiring RBN's assets, we gain new, global customers, valuable channel partnerships in Europe and Asia and complementary optical platforms. The acquisition of RBN's proven optical technology strengthens our competitive edge.”
RBN's GigaEdge Optical Services Provisioning Platforms (OSPP) aggregate the many different services found at the edge of the network and solve the high-capacity optical upgrade needs of customers. Under terms of the acquisition, Sorrento will gain RBN's complete product portfolio, including the GigaEdge 2300, 6000 and 8200 series, as well as the GigaCraft 1200.
In addition, Sorrento will enhance its global reach via acquired channel relationships and service provider customers. RBN's strategic partners include companies such as Embarq and Ericsson, and its customer base includes global leaders such as Alltel, PCCW Hong Kong and Siminn Telecom Iceland.
“Sorrento shares our vision for developing and delivering innovative optical networking products that provide long-term value and scalability,” said Graham Mitchell, CEO of RBN Inc. “By joining forces, we can give our partners and customers access to broader support and deeper development capabilities that will support ever-evolving optical networking needs.”
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