Picolight Raises $27.5 Million for VCSEL

Picolight, a start-up based in Louisville, Colorado, completed a $27.5 million in funding, with the addition of $14.5 million in a combination of new equity investment and debt financing. Investor Growth Capital, a new investor, completed the second close with a $7 million equity investment, and was joined by ORIX Venture Finance, LLC, which provided an additional $7.5 million in debt financing. Investor Growth Capital joins previous investors BA Venture Partners, Vesbridge Partners and Coral Capital Management, who collectively invested $13 million...

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Nortel and LG to Establish Joint Venture

LG Electronics and Nortel signed a definitive agreement to form a joint venture that will offer telecom and networking solutions in the wireline, optical, wireless and enterprise areas for South Korean and global customers.Nortel will own 50 percent plus one share in the joint venture, in exchange for which Nortel will contribute its South Korean distribution and services business and pay US$145 million and other non-monetary consideration. Separately, LG Electronics may be entitled to payments over a two-year period based on achievement by the...

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EMC to Acquire Rainfinity for Network File Virtualization

EMC Corporation agreed to acquire Rainfinity, a start-up based in San Jose, California that provides virtualization solutions for heterogeneous networked attached storage (NAS) and file system environments. The acquisition, valued at less than $100 million, is expected to be completed by the end of August.Rainfinity's Network File Virtualization technology provides for full read/write access to Windows, Linux and Unix-based files during system migrations, regardless of where the data resides and with no threat of data loss. Customers leverage Rainfinity's...

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Veoh Networks Develops P2P IPTV Peercasting Network

Veoh Networks, a start-up based in San Diego, announced its "VeohNet" protocol that will form the basis of a forthcoming video transport system "that significantly surpasses the capabilities of existing peer to peer (P2P) systems in effectively distributing high-quality video."Veoh Networks intends to launch the first Internet Television Peercasting Network in the coming weeks. The company said its system will be built with copyright holder's interests in mind, providing DMCA compliance, unlike traditional P2P systems that do not take this into...

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America Online Debuts AIM Enhancements

America Online unveiled new AIM.com home page and redesigned AIM Today companion screen. The company has also begun rolling out a system-wide upgrade of the AIM 5.9 service that will introduce the new AIM Today and deliver the AOL Explorer browser as an optional feature for AIM users."The AIM service has become the front door to more than 43 million Americans' social networks," said Bill Schreiner, vice president, Programming for America Online.Some of the features of the new AIM.com home page and AIM Today companion screen include:One-click access...

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Qwest Reaches Tentative Settlement with Union

Qwest Communications and the Communications Workers of America reached a tentative three-year labor agreement that covers 25,000 Qwest workers in 13 states. Among the highlights:A wage increase of 7.5 percent over the three-year contract term.Employees will continue to have employer-paid health care, with changes to the out-of-pocket cost structure that will reduce overall costs for many workers. There is a new enrollment fee for spouse and family coverage. Retired workers also will maintain their employer-paid health care, with some offsetting...

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BellSouth Builds Business Broadband Suite

BellSouth introduced new enhancements for its BellSouth FastAccess Business DSL customers:Premium Internet SecurityBusiness DomainsShared Web HostingBusiness Class SupportThe Internet Security offerings include anti-virus software, anti-spyware software and firewall software. For customers with multiple computers, suite pricing starts as low as $11.99 per month.http://www.bellsouth.com/smallbusin...

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T-Mobile to Deploy Nokia HSDPA in Germany, NL, UK

T-Mobile and Nokia have signed an agreement for Nokia to deliver its HSDPA solution to T-Mobile in Germany, the Netherlands and the United Kingdom.Under the agreement, Nokia will supply T-Mobile with its HSDPA solution as well as capacity expansions to T-Mobile's radio networks in the three countries. In addition, installation, commissioning and network optimization services are included in the deal. The rollout will begin in Germany in 2006 and then extend to the other countries. Financial terms were not disclosed. http://www.nokia.com ht...

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