US-based IT equipment company Cisco has agreed to buy CoreOptics for just under $100m and slightly more than its venture capital backers invested.
Cisco is paying $99m for CoreOptics, which makes optical networking subsystems, compared to more than $90m it raised from Deutsche Telekom’s T-Com Venture Fund, Belgium-based private equity firm GIMV and VCs Crescendo Ventures, TVM Capital, High Tech Private Equity, Atila Ventures and Quest for Growth. Its final funding round was $25m in May 2008.