Coriant Announces Strategic Investment by Oaktree
Oaktree Joins Marlin Equity Partners to Accelerate Growth of the Company
NAPERVILLE, Illinois, 15 June 2017 – Coriant, a leading supplier of packet optical, IP, and SDN solutions to Tier 1 global service providers and web-scale Internet operators, today announced that funds managed by Oaktree Capital Management, L.P. ("Oaktree"), a leading global investment firm with over $100 billion in assets under management, have made a strategic investment in the company with substantial new capital. Terms of the transaction were not disclosed.
As part of the agreement, Oaktree has partnered with Marlin Equity Partners ("Marlin") to provide additional growth capital and operational capabilities that will enable Coriant to further accelerate its growth by capturing an increasing share of market opportunities across the globe.
"Coriant is a proven leader in innovative networking solutions with a strong commitment to leapfrog R&D and high-quality customer service," said Cass Traub, a managing director at Oaktree. "We are confident in Coriant's ability to expand its global market share in this dynamic industry, and look forward to providing both financial and operational support to take the company to the next level of growth."
"We are excited to welcome Oaktree to the Coriant family and share a commitment to providing even greater solutions for our customers to effectively capitalize on key market trends and surging end-user demands driving new business opportunities, including 5G, IoT, Internet video, and super high-speed data,” said Shaygan Kheradpir, CEO and Chairman of Coriant.
Doug Bayerd, a principal at Marlin, added, "We look forward to partnering with Oaktree to further enhance the value Coriant brings to the industry's premier service providers, web-scale internet operators, and large enterprises. With the combined resources and support of two global investment firms, Coriant is well-positioned to deliver innovative next-generation architectures and solutions purpose-built for hyperscale traffic, extreme automation, and service agility."
Coriant delivers innovative and dynamic networking solutions for a fast-changing and cloud-centric business world. The Coriant portfolio of SDN-enabled, edge-to-core packet optical networking and DCI solutions enables network operators to cost-efficiently scale network capacity, reduce operational complexity, and create the resilient foundation for a new generation of mobile, video, and cloud services. Coriant serves leading network operators around the world, including mobile and fixed line service providers, cloud and data center operators, Web 2.0 content providers, cable MSOs, government agencies, and large enterprises. With a distinguished heritage of technology innovation and service excellence, Coriant is helping its global customers maximize the value of their network infrastructure as demand for bandwidth explodes and the communications needs of businesses and consumers continue to evolve. Learn more at www.coriant.com and follow us on Twitter for the latest @Coriant news and information.
Oaktree is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of March 31, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company's outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 100 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
Scott Larson Coriant +1.978.250.3433 email@example.com