SAN DIEGO - January 9, 2002 - Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced it provided RF Magic, Inc. with $1.5 million in equipment financing. RF Magic will use the financing to acquire the equipment and software necessary to support the company's growth.
RF Magic is a fabless semiconductor company focused on radio frequency integrated circuits (RFICs). The company designs, develops and sells radio frequency integrated circuit solutions for emerging broadband access markets.
"Our relationship with Silicon Valley Bank will be a great benefit to us as we grow our company," said Mark Foley, president and CEO of RF Magic. "We are pleased with our lending team's expertise in our industry and we appreciate their confidence in our management team and our business plan."
"After working closely with RF Magic's founders for more than a year, we are excited to support the launch of the company's initial products with this financing," said Jeff Huhn, senior relationship manager in the Bank's San Diego office.
About RF Magic, Inc.RF Magic develops and sells RFICs for emerging broadband access consumer markets supporting voice, video and data applications. The ICs include multi-band wireless transceivers, set-top box tuners and digital modem tuners. RF magic uses its communications systems, RF systems, and RFIC design expertise to collaborate with leading system manufactures to provide robust, high performance, and highly integrated RF systems-on-a-chip. In addition RF magic delivers high-volume capable, production ready reference designs that provide enormous cost and time-to-market benefits to its customers. Founded in August 2000, RF Magic is based in San Diego, California and may be contacted at (858) 546-2401 or at www.rfmagic.com.
About Silicon Valley BankSilicon 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: Fremont, 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; New York, New York; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington. More information on the Bank can be found at
www.svb.com.
Contacts:
Jeff Huhn, San Diego Regional Office, (858) 784-3306
Andrea McGhee, Corporate Communications, (408) 654-3078