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Network Elements Inc., a developer of
10Gb/s optical networking modules, today announced that it
has finalized a strategic partnership with Hillsboro, Ore.-based TriQuint
Semiconductor, a supplier of components for
communications applications.
The companies say that as a result of the partnership, they will collaborate on the
development, production and worldwide distribution of optical 10Gbs
optical networking modules.
The partnership is designed to expand both companies' presence in the 10Gb/s
datacom, telecom, storage area networking and test markets, according to a statement. The
collaborative partnership is expected to decrease product cost and
complexity with advanced ICs, and reduce manufacturing and operational
expenses while decreasing product time-to-market.
"Network Elements' microelectronics and system
integration competencies will complement our optoelectronics industry
experience and capabilities, enabling both companies to provide
products with the highest-level of quality and performance across a
wide variety of markets," said Glen Riley, vice president and general manager of TriQuint
Semiconductor.
In addition to partnering with TriQuint, Network Elements also
announced the closing of $15 million in financing from Alloy Ventures,
New Enterprise Associates, and Lake Street Capital.
"With first rate investors and a top tier
partnership with TriQuint, we plan on leading this market, enabling
the rapid growth of 10Gbs networking," said Bruce Murdock, president and CEO,
Network Elements Inc.
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