SOUTH PLAINFIELD, N.J., & NEW YORK/January7, 2002-- Kodeos Communications, a technological developer of Optical Modems, an adaptive subsystem for fiber optic communication networks, and Comerica Bank, a subsidiary of Comerica Incorporated announced today that Comerica's Technology and Life Sciences Division has provided the New Jersey company with a $4 million equipment/working capital line of credit.
"Kodeos' technology helps carriers substantially increase the capacity and distance of transmissions on fiber optic networks, allowing them to get the most out of their networks," said William Sweeney, senior vice president and managing director of the New York office of Comerica's Technology and Life Sciences Division. "We welcome the opportunity to provide this line of credit, which will assist the company in enhancing its technology and growing its customer base."
The technology developed by Kodeos Communications, which was founded in January 2001, dramatically improves the transmission quality of compliant wavelength division multiplexing (WDM) signals using sophisticated electronics and off-the-shelf components, while simultaneously lowering the network deployment cost. The company's Optical Modems support non-return to zero (NRZ) and return-to-zero (RZ) transmission, and are protocol agnostic. Kodeos' technology delivers state-of-the-art performance for high bit-rate metro, regional, and long haul ystems.
"We have assembled a technical team of world-class scientists and engineers whose work has resulted in carriers driving more capacity through existing fiber networks and maximizing overall efficiency," said Gadi Lenz, co-founder and chief operating officer of Kodeos Communications. "This credit line from Comerica provides us with additional resources to build additional prototypes and fund next-generation development."
About Kodeos Communications
Kodeos is developing advanced optical subsystems to improve bandwidth efficiency and extend the distance between electrical regenerators in high capacity metro, regional, and long haul networks. The company's core team includes engineers, developers and scientists from Bell Labs, Lucent Technologies, Sycamore, Motorola, Philips, Agere Systems, and others. Kodeos Communications, headquartered in South Plainfield, New Jersey, is privately held with funding from Jerusalem Venture Partners and Highland Capital Partners. More information can be found at www.kodeos.com.
About Comerica's Technology and Life Sciences Division
Comerica Bank's Technology and Life Sciences Division, which was created when Comerica Incorporated acquired Imperial Bancorp in early 2001, is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 18 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica Incorporated is the 17th largest bank holding company in the nation, with $50 billion in assets.
Media Contacts:
Kodeos Communications
Brian Schreder, 908/222-7807
b.schreder@kodeos.com
or
Pacifico (for Comerica Bank)
Adrienne Moch, 408/293-8600 x319
amoch@pacifico.com
or
Comerica Bank
Keith Turner
408/556-5111
keith_turner@comerica.com
