Austin, TX -- August 20, 2001 -- VIEO, Inc., a leading independent InfiniBand® software company, today announced that it has secured a debt facility with Silicon Valley Bank. Silicon Valley Bank will provide VIEO with a $1.5 million line of credit and $1.5 million in equipment facility leasing, totaling $3 million.
"We are pleased to be working with one of the most respected names in technology banking and financing," said Patti Soch, VIEO's chief financial officer. "As we expand and rapidly move toward our product rollout, this facility will help us make the right moves and aggressively manage the company's operational growth."
"We believe VIEO is solidly positioned within the emerging InfiniBand market space and is well on its way to successful software product deployment," said Mike Draeken, vice president for Silicon Valley Bank. "We are happy to support VIEO as it expands and help them meet their banking and financing needs during this exciting time."
VIEO is developing a suite of end-to-end InfiniBand software products that will enable and accelerate the deployment of the InfiniBand Architecture. InfiniBand is a new switched fabric input/output (I/O) architecture standard developed by the InfiniBand® Trade Association (IBTA), a consortium of more than 230 companies, led by Compaq, Dell, Hewlett-Packard, IBM, Intel, Microsoft and Sun Microsystems.
The company is an active member of the InfiniBand ® Trade Association, helping further develop the standard and promote vendor interoperability. VIEO has received Series A corporate funding from BMC Software, Inc. and Dell, as well as venture capital financing from TL Ventures, OneLiberty Ventures, Audax Group and Eyes of Texas Partners. The company's name is derived from the Latin word meaning "to weave together."
For more information, visit www.vieo.com.
About VIEO, Inc.
VIEO, Inc. was established in May 2000 to deliver InfiniBand management and application software. The company's engineering roots are in high performance systems and is focused on being the single source of a complete software stack to enable and exploit the InfiniBand switched fabric input/output architecture.
VIEO's software products, VIEO Fabric Manager™ and VIEO FabricView™, are being developed and integrated with OEM partner products to provide robust InfiniBand solutions for tomorrow's Internet data centers. VIEO is also developing critical transport software that will enable enterprise applications to exploit InfiniBand. To assist its partners' software development, integration and testing efforts, VIEO licenses a Software Developer Kit - a reference platform including PCI adapter cards and the complete VIEO software stack.
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.
VIEO Contact: Patti Soch, (512) 257-3031, x.206 , firstname.lastname@example.org
VIEO Contact: Ken Garcia, Fusion Public Relations, (212) 651-4210, email@example.com