Overture snags $8M in new funding from existing investors

Ethernet access vendor Overture Networks secured $8 million in new funding to support a number of new software, hardware and service development initiatives. Investors were not revealed, however the funding could increase to $11.7 million, if needed.

As it completed this funding round, the vendor opened two new development centers in Westford, Mass., and Bangalore, India,  that will augment the company's existing engineering team based in its Research Triangle Park, N.C., headquarters.

The funding will be used for Overture's Ensemble Open Service Architecture (OSA) software and services and the ongoing development of its Carrier Ethernet product suite. In March, the vendor introduced its software defined networking (SDN) and network function virtualization (NFV) vision with Ensemble Open Service Architecture.

Overture continues to play in the copper-based Ethernet in the First Mile (EFM) network trend. According to Infonetics, the market segment grew 3.5 percent in 2012 to $860 million, with Actelis, Overture and Ciena (Nasdaq: CIEN) as the top three vendors.

For more:
- see the release

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