Milcom, which has raised $350 million in venture capital for its affiliates, is hiring Martin J. Kaplan to run Teon, which stands for telecommunications optical networks. The 51-year-old Kaplan is a former chief technical officer and senior vice president with Sprint Corp. and a former president of operations at WorldCom Corp.
Teon's target customers are Spring, WorldCom, AT&T, BellSouth, Verizon and Qwest. Teon's headquarters are being set up in Baltimore,MD with an engineering division being considered for Orlando, according to Milcom's prepared statement.
Among Milcom-assisted startups over the past five years are Triton Network Systems Inc., TeraNex Corp. and Theseus Logic Inc.
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