Optical Ethernet solutions startup Atrica today announced it is opening three new offices in London, Bonn, and Hong Kong.
The company said that ex-Nortel (NYSE:NT) official Charlie Lynam will head the London and Bonn offices, in addition to running the Paris-based European headquarters.
Tony Wise, formerly VP Sales at Lucent Technologies (NYSE:LU), is joining Atrica AS VP Sales for South East Asia and will head the Hong Kong office.
Founded in 2000, Atrica develops optical Ethernet solutions for metro environments. Its solutions combine the veteran data communications technology Ethernet with the high transmission rates of optical networks.
The company is expected to complete a third financing round of $50 million to $60 million by year-end.
According to Dolev & Abramovitch Hi-Tech Information, Atrica's funding efforts were badly hurt by the crisis in the optical communications market. Its value in its current financing round is expected to drop to $70 million, or $80 million pre-money. Its previous round was based on a pre-money company value of $116 million.