Atlanta, Georgia - May 09, 2002
Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced it provided Synchrologic, Inc. with $4.25 million in financing to support working capital and general corporate purposes.
Atlanta, Georgia-based Synchrologic, Inc., offers an intuitive and user-friendly experience, robust administrative capabilities, open platform architecture, and the most comprehensive mobile infrastructure functionality available. With Synchrologic, mobile workers have access to the information they need wherever and whenever they need it. System administrators benefit from a central administrative console for securely managing mobile devices and the information they receive.
"We continue to demonstrate tremendous traction in our business, particularly with Global 2000 customers, and are very bullish about our position in the rapidly emerging market for mobile infrastructure software. We're pleased that Silicon Valley Bank, an organization known for its expertise in financing growing technology companies, shares our confidence in Synchrologic's future," said Doug Hadaway, Chief Financial Officer.
"Synchrologic is at the leading edge of providing enterprises with solutions for their increasingly mobile employees. We are impressed with Synchrologic's management team and technology platform, and are delighted to provide this financing and our full compliment of banking services to support Synchrologic's future growth," said Alan P. Spurgin, Senior Vice President in the Bank's Atlanta offices. About Synchrologic, Inc.
Synchrologic's mobile infrastructure solutions create competitive advantage by increasing mobile worker productivity and decreasing total cost of ownership of mobile devices. The company's flagship product, iMobile Suite, mobilizes enterprise email and applications, automates the delivery of documents and Web sites, and provides mobile systems management tools for laptops, handhelds, and smart phones. Key customers and partners include 3M, Accenture, Casio, Citicorp, Domino's, Hertz, Nintendo, Microsoft, NEC, and Pfizer. The company is privately held with headquarters in Atlanta, Georgia, and European offices in London, Munich and Milan. For more information, please visit www.synchrologic.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 specificindustries 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 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, 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
. SVB Contact:
Alan P. Spurgin, (404) 760-3688, firstname.lastname@example.orgSynchrologic Contact:
Doug Hadaway, Chief Financial Officer, (678) 802-1363, email@example.com