Tilgin raises investment funding through rights issue

Tilgin, a Swedish telecom that offers service providers a product portfolio of Telco Home Gateways, Advanced IP Media Terminals and Service Node Management solutions, has raised SEK 72 million through a rights issue.

The rights issue gives Tilgin the resources it needs to invest in development and sales of its IP technology.

The company has secured an initial order for its new Mood 400 product platform from a leading telecom operator in Southern Europe for an IPTV launch.

The order was won in co-operation with a global systems integrator.

A larger order has also been received for IP residential gateways from a leading Nordic operator.

It is anticipated that Tilgin’s leading products, strong customer relationships and partners such as Ericsson and Nokia Siemens will, together with the rights issue, enable the company to return to growth and profitability.