Santa Clara, CA -- October 18, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it provided Network Test Solutions, Inc. (NTS) with $800,000 in equipment financing and an accounts receivable line of credit.
NTS, a leading engineering company providing turnkey test engineering services, will use the financing for business expansion and acquisition of test equipment.
"Silicon Valley Bank is an excellent source of expertise in assisting early stage technology companies," said Victor Liu, president of NTS. "They've provided unparalleled services with experience and knowledge that no other financial institution seemed able to provide. Leveraging the support and resources from SVB, NTS is able to grow its business faster and more profitable."
"Network Test Solutions is a leader in test engineering, specializing in developing Functional and In Circuit Test Solutions," said Mark Horn, division manager of Silicon Valley Bank's Emerging Technologies Division. "The company's expertise in developing automated production test systems and a seasoned management team makes them a strong player in this market."
About Network Test Solutions, Inc.
Network Test Solutions, Inc is a leader in offering turnkey test engineering development for functional and In-Circuit test solutions. Headquartered at Silicon Valley with branch offices in Montreal, Canada and Guangzhou, China, NTS has been providing superior test engineering services to many customers including Cisco Systems, IBM, Agilent Technologies, ONI Systems, Philips Semiconductor, Lam Research, and Solectron. More information on NTS can be found at www.nts-inc.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, firstname.lastname@example.org.