RESEARCH TRIANGLE PARK, N.C., June 04, 2013 – Overture, innovating at the metro edge for service providers and network operators worldwide, today announced it has secured a $10 million venture loan facility with Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies. 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.”
“Obtaining financial backing from Horizon lends credence to the strength of our business model that is built on optimizing service creation, activation and assurance for our customers,” said Mike Aquino, president and CEO, Overture. “These new funds could bring the total to more than $20 million in new operating capital. This will allow us to advance software-defined and virtualized network services and continue to lead the market with the best and most innovative Carrier Ethernet solutions for service providers and operators around the world.”
For information about Overture, please visit www.overturenetworks.com or follow @OvertureNews on Twitter.
About Overture Networks
Overture is the preferred provider of Carrier Ethernet solutions for the metro edge. Known for innovative solutions that enable high-capacity Ethernet services over any media including fiber, copper and TDM, Overture has extended its commitment to innovation with Ensemble OSA™. Ensemble OSA is the industry’s first open architecture that brings the benefits of the cloud, Software-Defined Networking (SDN), Network Function Virtualization, (NFV) and open innovation to the metro edge. By leveraging Overture’s Carrier Ethernet expertise and this new open architecture for software-defined services, network operators and service providers worldwide can maximize operational efficiencies and introduce new revenue-generating services on a scale never before possible.
Overture is headquartered in Research Triangle Park, NC, with sales offices around the globe. For more information, visit http://www.overturenetworks.com.
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries. The investment objective of Horizon Technology Finance is to maximize total risk-adjusted returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants to purchase the equity of portfolio companies. Headquartered in Farmington, Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, the Company is externally managed by its investment advisor, Horizon Technology Finance Management LLC. Horizon’s common stock trades on the NASDAQ Global Select Market under the ticker symbol, “HRZN.” In addition, the Company’s 7.375% Senior Notes due 2019 trade on the New York Stock Exchange under the ticker symbol “HTF.” To learn more, please visit www.horizontechnologyfinancecorp.com.
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