Goldman Sachs invests 950 mn in Tejas Networks

Friday, 19 October 2007, 07:00 Hrs
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Bangalore: Goldman Sachs, a leading global investment banking, securities and management firm, has invested 950 million in Tejas Networks, the carrier grade optical transport equipment company co-founded by the US-based tech evangelist Gururaj Deshpande.

Tejas co-founder and CEO Sanjay Nayak said in a statement here Thursday the new equity fund would be invested in R&D for developing new products and grow business.

"Funding from a global blue-chip investor like Goldman Sachs will enable us to scale our business to the next level with new products and next versions of the existing product portfolio," Nayak said.

Tejas continues to introduce new carrier Ethernet platforms to enhance customer experience in creating next generation networks. Its products enable service provider to offer high-speed Ethernet connectivity through carriers.

"With an impressive product portfolio and global footprint, Tejas is poised to become a strong global player in the next-generation optical transport equipment space," Deshpande, who is also the company's chairman, said in the statement.
Source: IANS
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