Bridgewater, NJ – February 2, 2011 – MMV Financial (MMV), a pre-eminent specialty finance firm serving venture-backed companies in North America, announced today that it has extended $3 million in debt financing to Nistica, a leading global supplier of agile optical networking modules that simplify, automate and make affordable the delivery of high bandwidth applications. Founded in January 2005, Nistica has designed its products for optical system OEM vendors worldwide. The additional capital from MMV will support Nistica in its lean optical performance advances and vision of automating the edge and metro core of the optical network.
“We are thrilled to be adding MMV to our renowned team of investors,” said Ashish Vengsarkar, Nistica Chief Executive Officer. “We are exceptionally grateful for their support and guidance as we continue to expand our customer base and scale to high-volume production.”
Nistica has deep credentials in agile optical networking systems development and understands the tremendous challenges that face optical system OEM vendors around the world. Over the past five years, Nistica has been instrumental in bringing ROADM technology to market and creating viable solutions for wavelength selective switching (WSS) applications.
“We are extremely excited to be a financial partner to Nistica,” said Brad Steele, Senior Vice President, MMV Financial. “Nistica and its very talented team are perfectly positioned to be an outright leader in addressing the global surge in broadband demand through its platform of innovative, low cost optical networking devices.”
About MMV Financial
MMV Financial empowers growth for venture-backed technology and life sciences companies across North America through creative debt solutions. We provide quick and efficient access to additional capital with limited dilution. Our goal is to help companies achieve valuation inflection points, liquidity events and/or operational cash flow breakeven with flexible, cost-effective financing. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including Wells Fargo Company, HSBC Bank Canada, Caisse de dépôt et placement du Québec, CCP Equity Partners, Fonds de Solidarité des Travailleurs du Québec and ROI Capital. For more information, please visit www.mmvf.com.
About Nistica
Nistica is a global supplier of agile optical modules that simplify, automate and make affordable the delivery of high-bandwidth applications, enabling systems providers across multiple industries to meet ever-increasing demand. Formed in January 2005, Nistica is funded by Battelle Ventures, Novitas Capital, Technology Venture Partners, Fujikura Ltd., NTT Electronics, NJEDA, MMV Financial and notable individual investors. The company is working with DLP® Technology from Texas Instruments and has partnered with industry leaders to expand its global reach and scale production. For more information, please visit the company website,www.nistica.com.
Contact Information:
MMV Financial
Brad Steele
Senior Vice President
212-572-4871
Nistica
Jay Taylor
Director of Marketing
908-566-1303