Monday, September 11, 2006

Cortina Systems Completes Intel Optical Buy, Gets Investment

Santa Clara-based Cortina Systems and Intel said today that Intel has completed its sales of Intel's optical networking component business to Cortina, and that it has received a round of investment in conjunction with the acquisition. The transaction closed Friday. The new funding round was led by Institutional Venture Partners, along with other new investors Alloy Ventures, Bridgescale Partners, DCM - Doll Capital Management and Sofinnova Ventures. Existing Cortina investors Canaan Partners and Morgenthaler Ventures also participated, and co-led the round. Financial terms of the funding were not disclosed. More information »