is completing a $40 million financing round, reports Dolev & Abramovitch Hi-Tech Information.
PowerDsine develops software-based solutions to deliver operating power via converged voice and data communications and telecoms networks.
In February 2000 the company held a fourth financing round, securing $22 million at a company value of $70 million.
This year the company's revenues are expected to exceed $20 million, compared with $12.5 million in 2000 and $4.8 million in 1999. It is expected to achieve profitability next year.
According to D&A, the demand to participate in PowerDsine's latest round was so intense that some of the company's existing shareholders ceded to new investors. It was further reported that a big European bank is to invest $15 million.
PowerDsine is reportedly only waiting for the U.S. primary market to recover before going public.
PowerDsine last week announced a three-year alliance with
(NYSE:AV). Avaya is to integrate PowerDsine?s Power over LAN solutions with its Internet-protocol solutions. The contract is worth $5 million.
PowerDsine has 150 customers worldwide, including
, and the
PowerDsine's investors include
(14%), Courses Investments in Technology (10%), which includes Arison Investments, Israel Brokerage and Investments, and others, the
(Nasdaq:AMPL) (9%), and the pension-management company Gmulot of
(6%), and the funds
The company was founded in 1995 by CEO Igal Rotem and President Ilan Atias. Employing 170 workers worldwide, the company is headquartered in Hod Hasharon, and maintains branches in the United States, Europe and the Far East.