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Bay Microsystems Inc. today announced the closing of $16 million capital. Bay Microsystems says it will direct the proceeds toward enhancing operations and continuing its global expansion in response to “overwhelming demand” for Chesapeake, Bay’s 40G network processing silicon, as well as its recently introduced ABEx family of WAN virtualization system technology. Bay has initiated its global outreach by adding sales offices in Mainland China and expanding its representation in Korea and Japan.