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LanOptics raises $14.3M to support net processor subsidiary

Posted: 30 Nov 2004 ?? ?Print Version ?Bookmark and Share

Keywords:network processor? lanoptics?

Israeli network processor group LanOptics Ltd has raised $14.3 million through a placing of 1.37 million shares and will use the extra funds to expand its EZchip subsidiary as well as for other unstated corporate purposes.

Following the placement, LanOptics' consolidated cash balance will exceed $26 million, all of which is dedicated to secure EZchip's success, according to Eli Fruchter, president and CEO of EZchip and a member of the LanOptics board.

"This new funding will serve to enhance EZchip's leadership in the network processors market and demonstrate our commitment to this emerging market. While other vendors are holding back on their efforts, EZchip is capitalizing on the opportunity and continues its surge forward", said Fruchter in a statement.

The start-up is betting big on the latest, low-cost versions of its 5Gbit and 10Gbit NP-2 family of network processors that reduce pricing from the $800 range to $445 in quantity.

- John Walko

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