Santa Clara, CA -- June 26, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it provided Equator Technologies, Inc., the leading provider of comprehensive, broadband digital communications and media processing engines and systems, with a $6 million working capital and equipment financing facility.
"Our financing relationship with Silicon Valley Bank assists us in maintaining a strong financial position, while providing us with the necessary resources to further strengthen the position of our company in the consumer technology market," said Brian T. McGee, chief financial officer of Equator Technologies.
"Equator is one of the most promising companies we have met during the last few years," said Peter Kidder, Silicon Valley Bank's Communications and Electronics division manager. "We strongly feel they are poised to accelerate their penetration in the consumer electronics market and we look forward to continuing our relationship with them."
About Equator Technologies, Inc.
Equator Technologies is the leading provider of comprehensive broadband digital communications and media processing infrastructure for the consumer technology market. The company's family of MAP-CA� Broadband Signal Processor� (BSP)� digital signal processors, which is built on a smart silicon platform, couples a uniquely fully functional, system-on-a-chip solution with software tools. Equator's unmatched compiler technology delivers 100% C programming - enabling the rapid introduction and field upgradeability of high-performance, video-intense systems. With more than 120 customers, Equator has gained traction in the consumer technology industry, having secured major market share in video conferencing and the digital head-end sector by offering rapid time-to-market and time-to-revenue solutions. Headquartered in Campbell, Calif., with additional international offices, Equator is a privately held company. For more information, visit www.equator.com.
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.
SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.