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World Wide Packets (Spokane) gets $25.5 million in venture capital and gained two new investors, one of them wireless pioneer Craig McCaw.

December 3, 2005 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

Telecom company gets influx of capital

World Wide Packets said Friday that it has received $25.5 million in venture capital and gained two new investors, one of them wireless pioneer Craig McCaw.

The interest by McCaw’s Eagle River Holdings and Kirkland-based Rally Capital, a venture firm focused on telecommunications, centers on World Wide Packets technology.

The company, based near Spokane, is building systems that help phone and cable carriers upgrade their copper-based telecommunications networks to ones that use fiber optics and Ethernet software. The upgraded systems have greater capacity and lower costs.

By Tricia Duryee

Seattle Times technology reporter

Full Story: http://seattletimes.nwsource.com/html/businesstechnology/2002661314_worldwidepackets03.html

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