Tachyon Networks Secures Access to Financing with Silicon Valley Bank

Client News
August 18, 2010

Funds to Strengthen Position for Further Growth in Government and Enterprise Broadband Satellite Markets

San Diego, CA, August 18, 2010 – Tachyon Networks today announced the completion of a $2 million Revolving Line of Credit and a $2 million Equipment Term Loan with Silicon Valley Bank. From fiscal year 2007 through fiscal year 2009, Tachyon’s revenue grew at a CAGR of 19%, and is positioned for further growth in 2010. This growth is fueled by an increase in Tachyon’s Satellite Comms-on-the-Move (COTM) and Government Networks Business.

“Tachyon’s core business has successfully expanded into the military airborne Intelligence, Reconnaissance, and Surveillance (ISR) market with the launch of our industry-leading broadband mobile communications solutions,” stated Peter Carides, CEO of Tachyon. “This line of credit and term loan from SVB gives us additional flexibility to adapt to ever-changing government market needs.”

Tachyon will continue to drive growth via investments in equipment and service offerings for various end markets from airborne comms-on-the-move (COTM) for military customers to ruggedized and easily deployable communications solutions for oil and gas, alternative energy, construction, mining, and special events.

“SVB has been a great partner over the years, and we are excited about expanding our relationship,” said Miguel Hernandez, CFO of Tachyon. “Access to both of these facilities strengthens our ability to support our growth plans.”

“We have enjoyed watching Tachyon’s impressive growth over the past few years and are proud to be their financial services partner,” said Buzz Kreppel of Silicon Valley Bank in San Diego. “We look forward to continuing our relationship and providing Tachyon with the resources they need to be successful and serve their clients.”

About Tachyon Networks

Today’s Tachyon engineers custom, end-to-end satellite solutions for fixed, portable and Comms-on-the-Move (COTM) applications, delivering the highest quality managed network services for data, voice and video. Tachyon serves enterprise and government agencies that require secure mission critical communications, business continuity and disaster recovery. Our complete solutions include management and operations of space segment capacity, teleport facilities, network services, and VSAT equipment and antennas. Tachyon’s financially backed industry-leading SLA guarantees superior quality of service (QoS). For more information see www.tachyon.com.

About Silicon Valley Bank 

Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve System.