
UK - Francisco Partners leads Data Connection funding
San Fransico and London-based venture capital firm Francisco Partners has led a significant investment round for telecom networking company Data Connection Ltd, alongside strategic partner Sequoia Capital.
The Data Connection Employee Benefit Trust, which was previously the sole shareholder in the business, will retain a major interest. The investment will be used to continue the organic growth of the Enfield-based company, which has already seen it pass $100m in annual revenues.
Data Connection is a specialist provider of a wide range of telephony and communications technology software and hardware products, as well as complete telecom solutions through its MetaSwitch divisions, with a customer base that includes the worlds largest technology vendors, such as Alcatel-Lucent, Cisco, IBM and Microsoft.
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