Austin, TX -- August 8, 2001 -- Teravicta Technologies, Inc., a provider of next-generation radio frequency (RF) solutions for wireless devices, announced that it has recently secured a debt facility with Silicon Valley Bank. Proceeds from this facility will be used for capital equipment purchases to support advanced test and production needs across Teravicta's product lines.
"Our focus is to solve key problems inherent to most wireless voice and data applications, such as the need for improved quality, greater bandwidth, and increased capacity," said TeraVicta's President, Robert Miracky. "It was important for us to find a financing partner that shared our vision of wireless solutions and could understand the business needs required to bring next-generation RF solutions to market. So we are especially pleased to work with Silicon Valley Bank."
"Silicon Valley Bank is very pleased to support Teravicta with its financing needs. The company's technical team and its thorough understanding of the wireless industry really impressed us. We believe the company is positioned for rapid growth and we are looking forward to a long-term relationship," said David Clower, Vice President of Silicon Valley Bank's Austin Technology Group.
About Teravicta Technologies
Teravicta Technologies provides next-generation radio frequency (RF) solutions for a broad range of wireless devices. Products currently in development will help improve connection quality and multimode capability for devices such as cellular phones, PDAs, wireless modems, and wireless LANs. Based in Austin, Texas, the company began operations in September 2000. Additional information is available at http://www.teravicta.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 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.
Teravicta Technologies Contact : John Delfeld, (512) 908-1489
SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.