Seattle, WA -- October 25, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it increased the working capital credit facilities and additional available credit for Quintessent Communications, Inc. to more than $7 million.
Redmond, Washington-based Quintessent creates software products and services that automate the transactions between telecommunications trading partners by exchanging information directly between Operating Support Systems (OSS).
"The Bank has been very supportive throughout our growth cycle, and this commitment is another milestone in our relationship," said Gordon Gardiner, Quintessent's senior vice president and chief financial officer. "They clearly understand our business needs and share our vision to expand the company long-term."
"Quintessent is positioned at the heart of voice and data convergence and that is a very exciting place to be right now," said Art Hiemstra, Silicon Valley Bank's Northwest division manager. "We are pleased to be working with a company which has such growth potential."
About Quintessent Communications
Quintessent Communications, Inc. enables the on-going integrated services' revolution in telecommunications through its business-to-business solutions. Quintessent's suite of OSS interconnection software products and services efficiently and seamlessly connects the OSSs of telecommunications carriers, enabling them to act as trading partners and thereby allow the consumer to reap the benefits of open competition. Headquartered in Redmond, Washington, Quintessent is known for building, integrating and supporting network and service management products for the telecommunications industry. For more information, visit www.quintessent.net or call 425-897-6500.
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, email@example.com.