Telecommunications Firm Gets $6.2-Million Investment

Franklin Telecommunications Corp. in Westlake Village has received $6.2 million from an institutional investor group in exchange for shares of common stock and warrants.

The money will be used to retire a $2.5-million note at a 10% interest rate, finance expansion of the company’s equipment sales and increase traffic capacity of its network subsidiary, FNet.

“We plan to not only increase our TV ad budget but also strengthen our sales force substantially, primarily to develop greater global presence,” said Tom Russell, Franklin’s chief financial officer.

Franklin makes equipment to transmit data, voice, fax and video over the Internet.