Net Insight Raises $8.5 Million, Appoints Global Sales Manager

Net Insight, a supplier of video, voice and data networking equipment for the broadcast and broadband markets, announced $8.5 million in new funding from Constellation Ventures, a Bear Stearns Asset Management fund. Constellation Ventures will subscribe to 31 million shares of Series B at 2.1 SEK per share and 9.8 million warrants with a strike price of 2.41 SEK, the length of the warrant is five years. Constellation Ventures also will take a board position in Net Insight.


Separately, Net Insight appointed Steven East as its Global Sales Manager. Most recently, East was Vice President, International Carrier Division for Broadwing Communications Inc. Additionally, East has 10 years experience at Nortel Networks, where he focused on the cable and telephony markets. http://www.netinsight.net