Tuesday, June 22, 2004

MTI Raises $15M In Private Placement

Tustin-based MTI Technology announced today that it has raised $15M in a private placement from Advent International. The funding will result in the issuance of convertible preferred stock and warrants. The company said the new funds would be used to expand its sales and professional services organizations. Advent invests in expansion round funding of technology companies. Michael Pehl of Advent will join MTI's board. More information »