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Millennium Private Equity invests in Turin Networks

United Arab Emirates: Thursday, September 25 - 2008 @ 13:08

Turin is headquartered in Petaluma, California with R&D facilities in Boulder, Dallas, Boston, and Shanghai, and sales offices throughout the world.

Turin’s products and services are deployed by more than 600 customers worldwide, enabling increased network efficiency and capacity while facilitating the migration to Carrier Ethernet/IP networks.

MPE is the Dubai Financial Services Authority (“DFSA”) regulated subsidiary of Millennium Finance Corporation (“MFC”), the leading international investment bank based in the Dubai International Financial Centre (“DIFC”).

This is MPE’s Telecom, Media, and Technology (“TMT”) Fund’s second investment this week since announcing its first-ever deal with FRiENDi mobile.

“We welcome Millennium Private Equity on board as a strategic investor,” said Henry Wasik, President and CEO of Turin Networks.

“Turin’s goal is to extend our leadership in Ethernet/IP-optimized network solutions to broader global markets and having MPE as an investor will assist us in strengthening our international platform.”

Izzet Güney, Senior Executive Officer of MPE and Fund Manager of its TMT Fund said, “We are extremely delighted to join not only such a prominent group of investors but also back Henry and his talented team. We believe Turin’s products are at the leading edge of the industry, and telecom operators in the Greater Middle East, Asia and Africa will welcome the ability to apply them.”

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Thursday, September 25- 2008 @ 13:08 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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