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Press Releases
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Tejas Networks attracts USD 24 Million from Goldman Sachs
New funding to fuel business growth
Bangalore, India, October 18, 2007 – Tejas Networks, an emerging leader in next-generation optical transport equipment, today announced that it has attracted USD 24 Million in new equity financing from Goldman Sachs. The company will use proceeds of the financing to significantly grow its business and invest aggressively in R&D for developing new products.
“We are delighted to attract funding from a global blue-chip investor like Goldman Sachs” said Sanjay Nayak, Co-founder and CEO. “Over the last few years, we have developed a portfolio of world-class products and have seen tremendous growth in our business both in domestic as well as international markets. With a solid foundation in place, this was the right time to invest more aggressively and scale our business to the next level.”
“I am excited to see the tremendous progress that Tejas has made. They have shown that it is possible to develop world-class technology and products and compete against the best in the business,” said Dr. Gururaj “Desh” Deshpande, Chairman of the Board, Tejas Networks. “With its impressive product portfolio and global footprint, the company is well poised to become a strong global player.”
About Tejas Networks
Tejas Networks is a leading innovator of carrier grade optical transport equipment. Today, there are tens of thousands of Tejas products enabling numerous Service Provider networks around the world. Tejas is continuing to build upon its success by introducing new Carrier Ethernet platforms to further enhance the global customer experience in creating next generation networks. Contact Tejas Networks at http://www.tejasnetworks.com About Goldman Sachs
About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. For further information visit http://www2.goldmansachs.com/
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