-- October 2, 2001 -- Silicon Valley Bank (the "Bank"), a
wholly owned subsidiary of Silicon Valley Bancshares, announced
it provided Bluecurrent, LLC with a $5 million credit
Austin, Texas-based Bluecurrent, the leading solutions
provider of lifecycle management services for technology
assets, will use the facility to replace another line of credit
and to finance working capital growth.
"Silicon Valley Bank has given us the financial flexibility
to continue to pursue our strategic objectives," said Tony
Bostwick, chief financial officer of Bluecurrent. "We found
Silicon Valley Bank to be the most accommodating of most
lending institutions and understands our business needs. We
look forward to continuing a long relationship."
"Bluecurrent has an outstanding product that allows large
corporations to manage their technology assets more effectively
and efficiently," said Doug Mangum, Silicon Valley Bank's
Southwest division manager. "The facility allows for greater
flexibility and availability than their previous bank was
willing to provide."
About Bluecurrent, LLP
Bluecurrent is an industry leader and provider of technology
asset management services. Utilizing its best in class
technology and business processes, Bluecurrent offers its
customers efficient and timely technology deployments, accurate
asset management tracking and reporting capabilities and
valuable insight into total cost of ownership issues.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market
companies in targeted niches, focusing on technology and life
sciences, while also addressing other specific industries in
which it can provide a higher level of service and better
manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Santa
Clara, Palo Alto and Sand Hill, the center of the venture
capital community in California. Other regional offices within
California include: Irvine, Los Angeles, Napa Valley, San
Diego, San Francisco, Santa Barbara, and Sonoma. Office
locations outside of California include: Phoenix, Arizona;
Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia;
Chicago, Illinois; Boston, Massachusetts; Minneapolis,
Minnesota; Durham, North Carolina; Portland, Oregon;
Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas;
Northern Virginia; and Seattle, Washington.
Andrea McGhee, (408) 654-3078, email@example.com.