Santa Clara, CA -- August 13, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it participated in a $20 million capital equipment facility for Onix Microsystems, Inc. GATX Ventures and Western Technology Investment also participated in the funding.
Richmond, California-based Onix Microsystems, a developer and manufacturer of optically transparent switching engines for communications networks, will use the financing to purchase capital equipment and to build a cleanroom facility.
"We are quite fortunate to have such high-quality lending partners," said Steve Panyko, president and chief executive officer of Onix Microsystems. "This financing is assisting in the completion of our growth strategy and helping us to establish and maintain leadership in the network industry."
"Onix Microsystems has established itself as a leader in the market for all-optical MEMS switching engines," said Peter Kidder, Silicon Valley Bank's Peninsula regional manager. "We are pleased to be working with such a talented team and look forward to a lasting relationship."
About Onix Microsystems
Onix Microsystems designs, manufactures, and supplies MEMS-based optically transparent switching engines for telecommunications equipment networks. Onix's products cover the entire spectrum of optical switching needs, including network protection and provisioning, optical add/drop multiplexing, and optical cross connects. The company's expertise in MEMS design, photonic packaging, and manufacturing enable Onix to offer a complete line of high-performance, reliable, and scalable all-optical switching engines. Onix Microsystems is a privately held company with headquarters in Richmond, CA.
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, Inc.
GATX Ventures, Inc., a wholly-owned subsidiary of GATX Corporation, provides growth capital, equipment financing and bridge loans to early stage venture-backed technology companies. Working with entrepreneurs and the venture capital community, GATX Ventures uses market knowledge and expertise to structure innovative financing solutions to meet the significant capital needs of these venture-backed companies during their critical development stage. Supported by GATX Corporation's financial strength, GATX Ventures, Inc. has grown into a leader in the venture finance marketplace providing over $200 million in commitments during the Year 2000. GATX Ventures, Inc. is located in Lafayette and Menlo Park, California and Farmington, Connecticut. For more information, please visit www.gatxventures.com.
SVB Contact: Andrea McGhee, (408) 654-3078, firstname.lastname@example.org.