In an announcement today from Acacia Communications, it disclosed that it concluded its financing round with US$20 million additional finances. The growth financial round was participated by Summit Partners as the lead sponsor and current investors Commonwealth Capital Ventures, Egan Managed Capital and Matrix Partners also joined the round.
Managing Director of Summit, Peter Chung, will be sitting at the Board of Directors of Acacia.
Acacia Communications, the leader in providing transceivers for mega-high velocity fiber optic signals to the telecommunications industry, will be allotting the additional funding to its long term growth plan and provide modern solutions as it expands into numerous market and be able to acquire and/or develop other central technologies.
The Managing Director Summit Partners, Peter Chung 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."
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