straight from the CEOs

Ocular Networks, Inc.

• Industry: Optical network equipment
• Location: Reston, VA

Ed Kennedy
Chairman, Former President and CEO, Ocular Networks

Background

In 2000 Ed Kennedy approached Columbia Capital Partner Phil Herget to discuss start up ideas in the emerging communications equipment market. Ed had deep industry experience and a passionate entrepreneurial streak to apply to his new venture. Columbia Capital co-led with Bessemer Venture Partners Ocular’s Series A round.

Columbia Capital’s Role

As the co-lead investors and only local investor in Ocular Networks, Columbia Capital was extremely active in helping to build Ocular into an industry leading company. We assisted in recruiting executives and engineers from local technology companies, negotiated and assisted in closing of attractive 2nd round financing led by JAFCO, Introduced the company to key customers that drove value upon exit; and advised the CEO in complex, multi-party merger discussions. Ocular’s exit in early 2002 was significantly impacted by the September 11, 2001 tragedy. Columbia Capital and Ed worked hand in hand holding the transaction together during these very challenging times.

The End Result

Tellabs purchased Ocular for $355 million in January 2002. Ocular/Tellabs transaction was the largest venture-backed M&A exit during the 12 months ended September 30, 2002 according to Private Equity Analyst. The Ocular product became a core product line for Tellabs post acquisition and many members of the Ocular team became leading executives for Tellabs, including Ed Kennedy who became the President of North America for Tellabs.