WEST PALM BEACH, FL
- January 15, 2002 - Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced it established a banking relationship which provided a line of credit to Xytrans, Inc., a pioneer in the wireless broadband revolution. Xytrans is a leading supplier of Millimeter Wave (MMW) transceivers for broadband communications.
"We are pleased to establish a relationship with Silicon Valley Bank because of their excellent reputation in high-tech lending," said Rob Strandberg, CEO of Xytrans. "They understand the technology market better than any other bank and we look forward to a long partnership. This line of credit has funded our transceiver manufacturing line, allowing us to satisfy the delivery needs of our customers."
"Silicon Valley Bank is glad to provide our resources to assist the company's vision and expertise," said Jeff White, regional manager of the Bank's Florida office. "Xytrans has created a truly pioneering platform for MMW transceivers and receivers." About Xytrans
Xytrans, Inc., headquartered in Orlando, Fla., is a millimeter wave (MMW) transmitter and receiver design and manufacturing company. Xytrans is addressing the wireless broadband network market's demand for high-performance, low-cost, high-quality transmitters and receivers in the high frequency range, for use in terrestrial point-to-point, point-to-multipoint, LMDS and mesh networks, and in satellite data communications. Founded in 2000 by a team of former Lockheed Martin employees, the company has obtained a license from Lockheed Martin for its MMW high power transmitter and receiver technology, and is well positioned to enable accelerated growth in the wireless broadband MMW high-end module market. For more information, please visit www.xytrans.com, or call 407-345-8008. 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: Fremont, 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; 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
Jeff White, Florida Regional Office, (561) 515-3640
Andrea McGhee, Corporate Communications, (408) 654-3078 Xytrans Contact:
Ed Weatherwax, VP, Business Development, (407) 345-0799