Aloha Networks Announces $7 Million in Funding

Aloha Networks, Inc., a supplier of communications technology and solutions for broadband VSAT networks, announced the successful closing of $7 million in venture funding

San Francisco, CA (PRWEB) March 11, 2004 --- Aloha Networks, Inc., a supplier of communications technology and solutions for broadband VSAT networks, announced the successful closing of $7 million in venture funding from the Acorn Technology Fund, Sixela Venture Leasing, and several individual investors.

The funding will be used to expand Aloha Networks sales and marketing teams, as well as finance inventory to support continued growth in the companys world-wide customer base.

Ken Burkhardt, Chairman and CEO of Aloha Networks, said, This transaction represents a significant step in Aloha Networks evolution from a research-focused entity to a profitable provider of technology and solutions that help our customers grow revenues and profits through new services and efficient networks. This financing builds on the significant success we have had operationally and is a big step in creating a company that can effectively compete in our growing industry."

The recapitalization of the company includes the conversion of $5 million in bridge loans to equity, as well as an additional capital infusion of $2 million.

In use on three continents, Alohas products support high-speed communications in a wide variety of horizontal and vertical application environments. The companys SkyDSL® Network is an ideal satellite broadband solution for remote Internet access, Internet cafes and hot spots, distance education, rural telephone systems, disaster recovery systems, finance and banking activities, and remote data acquisition and control applications.

About Aloha Networks, Inc.:
Aloha Networks researches, develops, and markets pioneering wireless communications technologies. Alohas patented Spread ALOHA® Multiple Access (SAMA®) technology and its derivative products provide significant improvement over existing multiple-access methods and establish Aloha as the technology leader in premium two-way IP Networking over Satellite applications.

Aloha Networks is located in the historic Presidio of San Francisco. For more information, please visit our web site at: www.alohanet.com.

For press-related inquiries, please contact:   
Martin Jaffe -- Vice President
Aloha Networks, Inc.
415 561 2400 x28 VOICE
415 561 2411 FAX
marketing@alohanet.com

© 2004 Aloha Networks, Inc. All rights reserved. ALOHA®, SAMA®, Spread ALOHA®, and SkyDSL® are registered trademarks of Aloha Networks, Inc. ALOHA®, ALOHANET®, Aloha Networks®, SAMA®, Spread ALOHA®, and SkyDSL® are registered service marks of Aloha Networks, Inc. SkyTCPTM SM and SkyNMSTM SM are trademarks and service marks of Aloha Networks, Inc.
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