Premises Networks: People and Places, 5-24-99

A roundup of personnel changes, company relocations, and other items of interest in the premises networks industry.

Digital Telecommunication Inc. (Boca Raton, FL), a developer of carrier-class switches, has named chief operating officer Dennis Chateauneuf to the additional post of president. Richard Graves, current president, will continue as CEO and chief technical officer. In related company news, the company announced that it has secured $17 million in funding from Advent International (Boston MA), AT&T Ventures (New York), Advanced Technology Ventures (Waltham, MA), and ABN AMRO Inc. (Chicago IL)...

Siecor Corp. (Hickory, NC) has appointed Sandy Lyons president and CEO. Since November 1, 1997, Lyons served as executive vice president of operations, responsible for operations of the Cable Division, Equipment Division, and Republic Wire and Cable Division, as well as all company sales...

Vectorlink Inc. (Fremont, CA) has appointed Krish Panu as president and CEO. Panu previously served as vice president and general manager of the Logic Products division at Atmel Corp. , a semiconductor manufacturer based in San Jose, CA...

In response to the growing market demand for wireless LAN products, Mountain View, CA-based Proxim Inc. has opened an office in Oxford, UK. The UK office is headed by Catherine Pullan, channel sales manager, and will support Proxim's Paris-based European headquarters where marketing, sales, and technical support are centrally managed...

Packeteer Inc. (Cupertino, CA) has filed a registration statement with the Securities Exchange Commission for an initial public offering. The offering will be managed by BancBoston Robertson Stephens Inc. (San Francisco CA), Bear, Stearns and Co. Inc. ( New York), and Dain Rauscher Wessels Inc. (Minneapolis) The net proceeds of the offering will be used for general corporate purposes including working capital, repayment of indebtedness in the amount of $2.5 million, and potential acquisitions...

Network equipment vendor General DataComm Industries Inc. (Middlebury, CN) has signed a new $40 million loan agreement with Foothill Capital Corp. (Los Angeles, CA) to provide additional funds for operations covering a three-year period. The new agreement will pay off existing indebtedness and provide approximately $11 million dollars in new borrowing ability and generally lower interest rates....

Telecommunications start-up Siara Systems Inc. (Mountain View, CA) has raised $25 million, both in equity and non-equity, in a second round of funding from venture capitalists Kleiner, Perkins, Caufield, and Byers (Menlo Park, CA), Norwest Capital (Palo Alto, CA), and corporate partner ADC Telecommunications Inc. (Minnetonka, MN). In related company news, ADC chairman and CEO, William Cadogan, will join the Siara Board of Directors.