Hatteras Networks

About Hatteras Networks

Hatteras Networks, established in 2000 by co-founder Ken Gramley, emerged as a specialized provider of high-bandwidth Ethernet equipment for carriers and service providers. The company's genesis is rooted in the networking expertise from the Research Triangle Park, North Carolina area. Hatteras Networks successfully secured significant financial backing, raising a total of $90.7 million over nine funding rounds from institutional investors, including Bessemer Venture Partners and Columbia Capital.

The company's core business centered on delivering Ethernet services over existing copper and TDM (Time-Division Multiplexing) infrastructure, a critical solution for areas where fiber was not yet ubiquitous. Its product portfolio was specifically designed for the Carrier Ethernet, Metro Ethernet, DSLAM, and mobile wireless backhaul markets. Hatteras Networks carved out a significant niche with its Ethernet over Copper (EoC) technology, enabling service providers to offer high-speed data services, from 1Mbps to 10Gbps, without the immediate need for extensive fiber optic build-outs. This addressed a key market gap, providing a cost-effective pathway for carriers to upgrade their service offerings and generate new revenue from demanding applications like cloud computing and mobile communications.

In a strategic move to broaden its market capabilities, Hatteras Networks merged with Overture Networks in March 2011. The merger was a complementary union, combining Hatteras's strength in EoC with Overture's expertise in Ethernet over TDM and optical networks. The combined entity, which continued under the Overture Networks name, became a more formidable player in the Carrier Ethernet edge and aggregation space, serving over 450 service providers and enterprise customers globally. Following the merger, the company continued to innovate until Overture Networks was itself acquired by ADVA Optical Networking in January 2016.