Another day, another venture capital round in the telecom industry as Ellacoya Networks has raised another $13.5 million from a group of investors that includes BCE Capital, Canaan Partners, Atlas Venture, Flagship Ventures and Lightspeed Venture Partners. Ellacoya develops technology that lets carriers "intelligently" manage their IP networks. In other words, the technology lets carriers run their existing IP networks more efficiently as traffic increases - rather than being forced to make large investments to expand capacity. If private equity deals are any indication, network management has become a key industry trend as the growing use of broadband puts more demands on networks. For a list of some noteable telecom financing deals, check out a recent posting by Telco Trash.

Gary Daichendt has finally come out of hiding to talk about why he abruptly resigned as Nortel's COO last month - well he sort of came clean. In his first interview, Daichendt said he resigned but it had nothing to do with God telling him it was time for him to replace Bill Owens as CEO - an allegation made in a recent Ottawa Citizen column. Without getting into the details, Daichendt said he left Nortel over how strategy would be implemented and by whom - as opposed to the strategy itself. He did, however, there were some "style" differences between him and Owens. Fair enough, but you're still left wondering why actually happened. Daichendt said he was hired with the intention of eventually becoming CEO. Was it the timing of his ascension to the top spot? Was it Owens trying to be "the man" until Daichendt officially got the CEO job? Was Daichendt looking for a way out after realizing the new cut-throat world of single-digit telecom growth market not as excited as the bucolic world of commercial real estate in Southern California? Question, questions that may never be answered.