ASSIA Completes $25 Million Preferred Stock Offering
Funds Allow Broadband Management Pioneer to Focus on Continued
REDWOOD CITY, CA -- (Marketwire) -- 03/11/13 -- ASSIA, Inc., a
leading solutions company for broadband service providers, today
announced that it has closed a Preferred Stock offering with a total
participation of $25 million.
As of March 2013, total preferred equity holdings in ASSIA exceed $54
million, largely from strategic investors, including the company's
major telecom operator customers. Among investors in this strategic
round are the investment arms of Telefonica S.A., Swisscom Ltd., and
Deutsche Telekom, all of which have participated in previous
preferred share rounds. In addition, a Kuwaiti investor group took a
significant stake in the offering.
"ASSIA is a clear pioneer in solving problems in access networks'
last mile, and the company has made vast contributions to broadband
communications," said Mohammed Al-Sadhan, head of several Kuwaiti
investment funds. "It is a great opportunity to fund industry-leading
solutions that help service providers better respond to consumer
demand for broadband connectivity."
"Dr. Cioffi and his uniquely qualified engineers are focused on
solutions that enable operators, including Deutsche Telekom, to
achieve higher-speed Internet connections, making IPTV and other
content-rich offerings possible for more and more users," said Georg
Schwegler, CEO of T Venture. "We look forward to using ASSIA
solutions to improve broadband performance in Germany and throughout
Development projects funded by this latest round of investment
include software features for vectored VDSL networks, Wi-Fi
management solutions, and additional functionality available through
"ASSIA greatly appreciates the confidence our investors continue to
demonstrate in our business plan," said Dr. John M. Cioffi, ASSIA
chairman and CEO. "This latest investment round solidifies the
foundation for our future product and growth plans."
About ASSIA, Inc.
ASSIA, Inc. is a strategic partner and trusted
solutions vendor to broadband service providers worldwide. ASSIA
solutions enable providers to grow revenues, increase customer
satisfaction, improve operational efficiencies,
and deliver new
multimedia content to the broadband-enabled home. ASSIA has more than
60 million broadband lines under contract with top-tier service
providers worldwide and is backed by strategic investors, including
AT&T, Mingly China Growth Fund, SFR Development, Sandalwood Partners,
Sofinnova Partners, Stanford University, Swisscom Ventures,
T-Venture, and Telefonica. For more information, visit
Expresse is a registered trademark of ASSIA, Inc.
"ASSIA" is an acronym for "adaptive spectrum and signal alignment."
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