Acacia Communications Closes $20 Million in New Financing
Summit Partners leads investment and joins Acacia’s Board
Maynard, MA, May 15, 2013: Acacia Communications, the leader in delivering intelligent transceivers for ultra-high speed fiber optic transmission to the telecommunications infrastructure industry, announced today that it has closed a new $20 million round of financing with SUMMIT PARTNERS serving as the lead investor. Existing investors MATRIX PARTNERS, COMMONWEALTH CAPITAL VENTURES and EGAN MANAGED CAPITAL also participated in the round. Summit Partners Managing Director, PETER CHUNG, will join Acacia’s Board of Directors.
“We are pleased to have a new investor of the caliber and reputation of Summit Partners join our existing group of top-tier investors,” said Acacia President and CEO Raj Shanmugaraj. “Enthusiastic investor support culminates an exciting year of growth across all dimensions of our business and validates the market momentum we’ve established in the fast-growing coherent 100G transceiver market. Acacia has developed fundamentally innovative technologies that dramatically drive down the costs, size and power of high-speed fiber optics communication equipment. We will continue to expand into multiple market segments through the development of new products, as we position the company for long-term growth.”
Peter Chung, a Managing Director of Summit Partners said, “We believe Acacia has the team, the technology and the track record of execution necessary to deliver industry-leading solutions to its customers and superior financial performance for investors. The company is very well- positioned to lead the optical networking industry into the 100G era. We look forward to partnering with the Acacia team and the current investors in support of the company’s long-term growth strategy.”
Shamim Akhtar, Senior Director of Network Strategy at Comcast pointed to 100G deployments as growing rapidly in their network due to compelling economics compared to 40G or even 10G. “Comcast requires flexible, scalable and cost-efficient solutions that are enabled by coherent technologies and optimized photonic integration, where constant innovation is needed,” he said.
Acacia will utilize the new round of funding to execute its long-term growth strategy and deliver innovative solutions as the company expands into multiple markets and develops and/or acquires core technologies.
Acacia’s industry-leading, coherent OIF-compliant AC100 modules provide unmatched optical performance for data center operators, cable operators and service providers. The company recently announced that it had significantly expanded its worldwide headquarters in Maynard, MA, tripling its lab facilities to accommodate robust growth in its customers and employees.
About Acacia Communications:
Acacia Communications Inc. was founded by prominent industry experts Mehrdad Givehchi, Benny Mikkelsen and Christian Rasmussen. Acacia provides advanced solutions to the optical transport and network infrastructure equipment market for coherent 100G, 200G, 400G and beyond transceivers. By working in close collaboration with customers and suppliers, Acacia designs, manufactures and sells leading-edge optical transponder technology that enables customers to reduce overall development costs while increasing performance and reducing time to market. As worldwide network bandwidth continues to grow exponentially, Acacia is committed to continuing to build transformative products to meet the demand for the expanded adoption of 100G based systems globally, with leading performance solutions at the lowest total cost to market of any solutions in the industry. Acacia is headquartered in Maynard MA and has an office in Hazlet, New Jersey. For more information about Acacia, go to WW.ACACIA-INC.COM.
About Summit Partners:
Summit Partners (WWW.SUMMITPARTNERS.COM) is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare, and other growth industries. These companies have completed 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Notable investments in the communications technology sector include Accedian Networks, E-TEK Dynamics, Finisar, Hittite Microwave, M/A COM Technology Solutions and Ubiquiti Networks, among others.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20-22 Bedford Row, London, WC1R 4JS. UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.