Daily News: June 4, 2013

Horizon Tech Provides Overture With $10MM Venture Loan

Overture Networks announced it secured a $10 million venture loan facility with Horizon Technology Finance. The new facility follows a recently announced $8 million equity investment that includes an opportunity to secure up to $11.7 million.

With a potential combined total of more than $20 million, this new facility will accelerate the company’s introduction of its Ensemble Open Service Architecture and continue the expansion of its Carrier Ethernet product portfolio.

“We are excited to add Overture Networks to our expanding, quality investment portfolio,” stated Gerald A. Michaud, president of Horizon. “This $10 million facility will strengthen the company’s ability to help network operators and service providers globally to greatly improve operational efficiencies and introduce new revenue-generating services. Overture, with its advanced solutions and experienced leadership team, is well positioned for continued growth.”

Overture offers metro edge for service providers and network operators worldwide.