Ottawa, Canada - April 6, 2005 –– BTI Photonic Systems Inc., a leading provider of Metro Edge systems delivering new broadband services connectivity to service providers, today announced that it has secured US$2.5 million in financing from MMV Financial Inc. The company also announced the addition of Marco Pagani, an experienced industry leader, to its Board of Directors.
“BTI’s photonic layer platform fills the gap at the edge, between existing core networks and customers. With their unique metro edge solution, they are well positioned to be at the heart of the new broadband services build outs,” said Ron Patterson, Executive Vice President, MMV Financial. “With their singular focus on the edge, we believe that BTI has a tremendous growth potential over the next three to five years.”
BTI will use the funding to help increase global sales and marketing efforts. The company uniquely addresses the challenges of optical connectivity at the metro edge by enabling service providers to deploy new services rapidly, cost-effectively and further from their core networks. BTI enables profitable connectivity of Video, Fiber-to-the-Home, Gigabit Ethernet and wireless data services at the metro edge. The company’s Netstender platform addresses the problems of footprint expansion, speed-to-revenue and services margin for new broadband services.
“This is an exciting time for BTI as we are poised to capture a leading share in the emerging metro edge market. Securing this financing and adding a seasoned business leader to our Board of Directors will enable us to further exploit our emerging market position as a leading player for services connectivity at the metro edge,” said Lance Laking President & CEO, BTI Photonic Systems. “MMV Financial’s investment and Mr. Pagani’s global business expertise have come at the right time in our growth curve and we look forward to the opportunities ahead.”
“With a strong focus on enabling service provider deployment of new Broadband Ethernet based services, BTI provides best in class time-to-revenue and carrier usability in a solution tailored for the services challenges of the network edge,” said Marco Pagani who has joined the BTI Board of Directors. Mr. Pagani was formerly the President of Nortel Network’s Metro Optical Division. He has held numerous leadership positions among Nortel’s business groups where he gained extensive expertise in delivering impressive growth results and establishing global market leadership.
About BTI Photonic Systems Inc.
BTI Photonic Systems is a leading global supplier of Metro Edge systems for the build out of new broadband services. BTI’s Netstender is the industry’s first independent managed platform for simple service connectivity at the metro edge. With its photonic layer approach, Netstender redefines services connectivity for the roll out of new generation services and footprint build out. The platform is currently being used by customers and partners for applications worldwide. For more information, visit
About MMV Financial
MMV Financial is a specialty finance company providing creative debt solutions directly to mid-stage technology and life sciences companies, with a focus on the Canadian and North American sectors. The firm is backed by top U.S. and Canadian private equity firms and financial institutions including Conning Capital Partners of Hartford, Connecticut, Caisse de dépôt et placement du Québec of Montreal, and Wells Fargo Foothill, a part of Wells Fargo Company. For more information visit www.mmvf.com/
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For more information or to arrange for an interview, contact:
BTI Photonic Systems Inc.
Executive Vice President
MMV Financial Inc.
Tel: (416) 977-9718
Fax: (416) 591-1393