Editor’s note: February is “State of Venture” month at WRAL Tech Wire. Watch for special coverage about the state of the VC industry all month capped by the Southeast Venture Conference. The Skinny blog is written by Rick Smith, editor and co-founder of WRAL Tech Wire and business editor of WRAL.com.
RESEARCH TRIANGLE PARK, N.C. – Overture is the shorter name for Overture Networks, and that’s not all the new news from the Triangle-based provider of Ethernet boadband services.
The venture capital-backed firm unveiled the Overture-only name along with a new logo and a vastly revamped website on Tuesday.
However, a spokesperson for the company said Overture is not seeking any additional fund raising at this time. Investors include Intersouth Partners, which is based in Durham.
The changes come after the completion and absorption of its Ethernet competitor, Hatteras Networks. The two RTP firms merged in March of last year.
That’s not all the changes. Kevin Sheehan, the chief executive officer of Hatteras who joined the combined company as president under Overture CEO Jeff Reedy, is gone. Also out is former chief technology officer Matt Squire. The two left in late December.
Overture issued a terse press release noting that the two had left.
The technology website Light Reading, citing one unnamed source, said the two were let go.
A spokesperson for Overture said Tuesday that she “didn’t have any updates” about either Sheehan or Squire.
“2011 was truly a pivotal year for us with the successful merger of Overture Networks and Hatteras Networks,” Reedy said at the time. “Having fulfilled key roles during the integration of Overture and Hatteras, Kevin Sheehan and Matt Squire are departing the company.
“As we ready ourselves for Overture’s next stage of growth and evolution, we thank both Kevin and Matt for their dedicated hard work and wish them well in their future endeavors.”
The new logo and website are part of Overture’s growth plans for 2012. The changes represent the complete absorption of Hatteras and the formation of one company, Overture said in the announcement.
“We are pleased to introduce the new Overture,” Reedy said. “What you see re-affirms our commitment to deliver on the promise of Carrier Ethernet. Our products and solutions provide our customers with an entrance to a smarter network—one that’s more powerful and more creative.”
Overture provides services to more than 450 broadband, telecom and network service provider around the world.
Get the latest news alerts: Follow WRAL Tech Wire at Twitter