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| COMPANY CONTACT Jeff Raice Packet Design, Inc 408.490.1034 jeff@packetdesign.com |
AGENCY CONTACT Janis Ulevich Ulevich & Orrange, Inc. 650.329.1590 info@u-o.com |
PACKET DESIGN CLOSES INVESTMENT FROM SUN MICROSYSTEMS, INC., IN FIRST CAPITAL INFUSION FROM CORPORATE SOURCE
MOUNTAIN VIEW, Calif., Nov. 28, 2001 -- Packet Design, LLC, the startup formed last year by four-time entrepreneurs Judy Estrin and Bill Carrico to develop technologies that enhance the performance, scalability and manageability of the Internet infrastructure, has received a multi-million-dollar corporate investment from Sun Microsystems, Inc.
The investment is Packet Design's first from a corporate source. Packet Design had previously raised $24 million from Foundation Capital and several individual investors, a substantial portion of which remains available to the company.
"Sun and Packet Design share a common goal: developing high-performance, large-scale networks based on open technologies," said Greg Papadopoulos, chief technology officer at Sun. "We also enjoy a mutually beneficial relationship: Packet Design benefits from Sun's systems leadership, while Sun's customers garner value from Packet Design's expertise in internetworking."
Packet Design CEO Estrin said, "With its strong focus on network computing, Sun brings an important new perspective that complements our own infrastructure expertise. Feedback on the types of networking problems critical to Sun customers will be of significant help to us as we address the key issues in network computing and identify new areas of focus."
About Packet Design
Packet Design, founded in June 2000 as the fourth networking startup of husband-and-wife entrepreneurs Judy Estrin and Bill Carrico, focuses on Internet infrastructure issues such as mobility, security, routing performance and network scalability. Unlike traditional product companies, which take technologies through a full design, marketing and sales cycle, Packet Design licenses these technologies at the prototype stage or spins them out as separate companies (e.g., the recently launched Vernier Networks). As spin-outs are created, the core Packet Design team remains in place to continue developing new projects.
Carrico and Estrin founded Bridge Communications in 1981, Network Computing Devices in 1988 and Precept Software in 1995. When Precept was acquired by Cisco Systems in 1998, Estrin was named Cisco's chief technology officer, and Carrico senior vice president of Cisco's small and medium line of business. Estrin, who sits on the boards of directors of The Walt Disney Company, The Federal Express Corporation and Sun Microsystems, has been named three times to Fortune Magazine's list of the 50 most powerful women in American business.
For more information, visit Packet Design's web site at http://www.packetdesign.com.
© 2010. Packet Design Inc.
