Austin, TX -- July 2, 2001 -- Silicon Valley Bank (the "Bank"), wholly owned subsidiary of Silicon Valley Bancshares, and GATX Ventures announced their participation in a $5 million specific lien equipment financing for Austin-based Extreme Devices. The Bank provided $1 million and GATX Ventures provided $4 million of the financing.
Extreme Devices is a manufacturer of semiconductor high-performance electronic components.
"Silicon Valley Bank has been with us through our entire business cycle, since inception," said Dan Von Behren, chief financial officer of Extreme Devices. "We are pleased to continue our relationship through the equipment financing stage of our growth."
"We have enjoyed our relationship with Extreme Devices, which began soon after the inception of the company," said Doug Mangum, Silicon Valley Bank's Southwest division manager. "The management team is excellent and their technology creates a significant opportunity in a very large market. We are excited about the company's development to date and are looking forward to a longstanding relationship in the future."
About Extreme Devices
Extreme Devices was founded to apply leading edge semiconductor materials and process technologies to reshaping consumer displays and enabling a new generation of high performance electronic components. The company's initial product focus centers around the introduction of a highly integrated, solid-state electron source targeted at the heart of the world's display market.
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.
About GATX Ventures
GATX Ventures provides financing for emerging growth companies in the high technology and life sciences sectors. Founded in 1984 as Meier Mitchell & Company, GATX Ventures has completed well over $1 billion in equipment-based and working capital fundings for young companies that show great promise but do not yet have traditional credit profiles.
GATX Ventures is a wholly owned subsidiary of San Francisco-based GATX Capital Corporation. GATX Capital is a diversified global financial services company that provides fundings for transportation, industrial and high technology companies. GATX Capital owns or manages assets with an original cost of approximately $10 billion and is a subsidiary of Chicago-based GATX Corporation (NYSE: GMT). More information about GATX Ventures can be found at www.gatxventures.com.
SVB Contact: Andrea McGhee, (408) 654-3078, firstname.lastname@example.org.