May 9, 2001 Optical Datacom (www.opticaldatacom.com), a manufacturer and distributor of network-integration systems as well as copper and fiber cabling products, announced that it has obtained financing from a telecommunications-focused banking consortium. "To finance our growth and continued success, financial supporters such as GE Capital, IBM Credit, Firstar, First Union, and Wachovia will support Optical Datacom in finding new business opportunities and improvements to our business, " said Orlando Carter, president and chief executive officer.
"We're currently reviewing several East Coast locations to establish a new technology facility, which will allow us to maximize our distribution channels, " he continued. He added that the company soon will add an e-commerce site that will allow customers to order products and services and check order status.
Optical Datacom has secured an amount exceeding $60 million to fund the purchase of Majestic Management Inc. (MMI) and for other working-capital requirements. MMI's actual purchase price was not disclosed. The acquisition gives Optical Datacom entry into the systems-integration, fiber-optic products, and design-solutions market.