West Palm Beach, FL -- October 11, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced today the establishment of a financial relationship with OpenNetwork Technologies.
OpenNetwork Technologies, based in Clearwater, Florida is a developer of e-business security software. The company's flagship product, DirectorySmart™, is a proven platform for securing Web applications and defining, enforcing and delegating e-business security policies across complex relationships of users.
"Silicon Valley Bank understands the needs of a technology company," said Kurt Long, chief executive officer of OpenNetwork Technologies. "We are pleased to be doing business with the Bank and look forward to a long relationship."
"Silicon Valley Bank has been wanting to work with OpenNetwork for quite awhile, so we are more than pleased to have now established a relationship with them," said Jeff White, manager of Silicon Valley Bank's Florida office. "OpenNetwork's founder and CEO, Kurt Long, has done a tremendous job growing the company and raising professional capital, even amid current market conditions."
About OpenNetwork Technologies
OpenNetwork Technologies® develops, markets and sells security infrastructure software to businesses with increasingly large numbers of online users. The company's flagship product, DirectorySmart™, is a proven platform for securing Web applications and defining, enforcing and delegating e-business security policies across complex business relationships. By integrating role-based policy management, Web access control and delegated authority into one comprehensive and easy-to-deploy product, DirectorySmart enables companies to bring their e-business initiatives to market quickly and scale to millions of users without incremental costs.
Headquartered in Clearwater, Fla., OpenNetwork has offices across the United States and in Europe and partners with leading e-business service providers, including BEA, IBM, Microsoft, Vignette, iPlanet, and RSA. For more information about OpenNetwork Technologies and DirectorySmart, visit www.opennetwork.com, send an e-mail to email@example.com or call (877) 561-9500.
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.