Globes, May 21, 2003
Chiaro to supply systems to IP Networks

The amount of the deal was not disclosed, but is estimated at several million dollars.

Advanced IP router developer Chiaro Networks announced yesterday that it has sold its Enstara platform to San Francisco-based IP Networks, a communications provider for commercial enterprises and government institutions in the Bay area. The amount of the deal was not disclosed, but is estimated at several million dollars.

Last November, Chiaro and California Institute for Telecommunications and Information Technology [Cal-(IT)] signed a partnership to develop the "OptIPuter," a next-generation optical networking Grid. Chiaro will supply the high-end platform, Enstara to the University of California, San Diego. Chiaro joins other institute partners, including IBM, Telcordia Technologies and the San Diego Supercomputer Center (SDSC), on the OptIPuter initiative.

Chiaro also announced yesterday that BTexact, British Telecom's (NYSE:BTY; LSE:BT.A) research, technology and IT operations business, had completed rigorous testing of Enstara. However, no contract to supply the system to British Telecom has been announced.

Chiaro was founded by its VP and general manager Dr. Eyal Shekel in 1997, and has raised $210 million to date in four financing rounds, including $80 million in early 2002. Investors include Pitango Venture Capital, Koor Corporate Venture Capital, Charter Growth Capital, Mustang Ventures, Crown Advisors International Funds, CenterPoint Venture Partners, Intel Capital, Israel Seed Partners, Rho Ventures, Sevin Rosen Funds, Robertson Stephens, Star Ventures, Siemens Venture Capital, and Vitesse Semiconductor.

After a series of lay-offs in the past year, Chiaro currently has 30 employees at its Jerusalem development center. Its headquarters are in Austin, Texas.

Published by Globes [online] - www.globes.co.il - on May 21, 2003

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