Date Announced: 01 Nov 2012
Cash will be used primarily to expand Polatis’ in-house manufacturing capability.
CAMBRIDGE, UK and ANDOVER, MA – November 1, 2012. Polatis, the performance leader in all-optical switch technology, today announced that it has secured $4M of debt financing through Clydesdale Bank to support the company's continued global growth.
The financing raised will be used primarily to expand Polatis’ in-house manufacturing capability to meet strong customer demand for their latest Series 6000 optical matrix switch, enabling transparent connectivity for up to 192x192 fibre ports. It will also enable the company to fast-track product development for customers in growth markets such as telecom networks, datacentre interconnect and government systems.
“We are delighted to secure the $4M of debt financing this week” said Gerald Wesel, President and CEO of Polatis. “This will enable us to better respond to the increasing demand we are seeing from our customers for Polatis’ leading edge switch technology and further supports our business plans for continued growth and product development for the next generation of technology.”
Mark Taylor, Director of Growth Finance at Clydesdale Bank, said "Polatis is a highly innovative company and we are delighted to be able to provide significant funding to support the next exciting phase of growth."
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Web Site: www.polatis.com