Boulder, CO -- July 23, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it provided Louisville, Colorado-based Zolo Technologies, Inc. with $3 million in equipment financing.
Zolo Technologies, a telecommunications company, will use the financing to acquire manufacturing equipment. The company is a leading developer and manufacturer of optical networking subsystems.
"We are committed to providing the highest-performance, lowest-cost DWDM (Dense Wavelength Division Multiplexing) subsystems for the next generation of optical networking systems," said Ed Barbera, chief executive officer and president of Zolo Technologies. "Silicon Valley Bank's equipment financing ensures that Zolo will expand its research, development and manufacturing infrastructure to meet the projected high demand for DWDM and integrated optical subsystems."
"Zolo is an extraordinary client for Silicon Valley Bank," said Mike Devery, senior market manager of the Bank's Boulder office. "They truly value the Bank as a financial partner, which motivated us to quickly assist with Zolo's equipment leasing needs, both prior to and after their recent $32.5 million round of financing."
About Zolo Technologies, Inc.
Zolo Technologies, Inc., founded in 1999, is an emerging leader of optical networking sub-systems focused on developing and manufacturing devices that enable telecommunications systems providers to substantially increase bandwidth at a significantly lower cost per channel. Since its formation, Zolo Technologies has concentrated on developing technologically innovative fiber optic sub-systems that markedly improve the capacity, performance, manufacturability, footprint, and economics of Dense Wavelength Division Multiplexing (DWDM) systems. For more information about Zolo Technologies, call 303-604-5800.
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.
SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.