SANTA
CLARA, Calif. and LONDON, UK –– March 17th 2011 —Silicon Valley Bank, the
commercial banking division of SVB Financial Group (Nasdaq: SIVB) and financial
partner to technology companies worldwide today announced that it has signed an
agreement to provide visual effects software company, The Foundry Visionmongers
Ltd (‘The Foundry’), with a Senior debt facility to help finance Carlyle
Group’s Leveraged Buyout of the company. The combined facility from Silicon
Valley Bank consists of a five-year term loan and a five-year revolving line of
credit. Financial terms of the transaction were not disclosed.
Established in 1996, The Foundry is now
one of the leading innovators of visual effects and image processing
technologies that boost productivity in motion picture and video
post-production. Its software developments serve leading visual effects
facilities worldwide including Warner Bros, Weta Digital, Sony Pictures
Imageworks and The Moving Picture Company and its products have facilitated
ambitious effects sequences on a host of Hollywood blockbusters including Harry
Potter, Avatar and Alice in Wonderland.
“The Foundry is a shining example of
entrepreneurship in the UK,” said Phil Cox, Head of the UK, Europe and Israel
for Silicon Valley Bank. “Silicon Valley Bank has provided debt finance for The
Foundry since early 2010 and is proud to be a part of our clients' growth and
ongoing success.”
SVB Financial Group has had an office in
London since 2004, and Silicon Valley Bank has been providing loans to UK-based
technology and life science companies of all stages of their development from
business start-up to mature companies in the sector. SVB Financial Group
UK Ltd. provides access to financial services as well as SVB’s worldwide
network of venture capitalists and partners. SVB Financial Group UK aims to
give European technology, life science companies and venture capital investors
access to the same targeted financial services as their U.S.-based
counterparts, including sources of diverse debt capital such as venture debt,
acquisition financing, working capital, capital call lines, growth capital and
capex financing. In addition, the UK team offers access to foreign exchanges
services, trade finance and U.S. banking for subsidiaries.
About Silicon Valley Bank
Silicon
Valley Bank provides commercial banking services to emerging growth and mature
companies in the technology, life science, private equity and premium wine
industries. 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 five international
operations. Silicon Valley Bank is a member of global financial services firm
SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, SVB
Global and SVB Private Client Services. More information on the company
can be found at www.svb.com.
About
The Foundry
The Foundry is a world-leading innovator of visual effects and image processing
technologies that boost productivity in motion picture and video
post-production.
The
Foundry has a well-established client base that includes leading visual effects
facilities worldwide, such as Warner Bros, The Moving Picture Company, Weta
Digital, Framestore, Sony Pictures Imageworks and Digital Domain. It is at the
cutting edge of software development, marketing and sales for visual effects
compositing.
In June
2009 The Foundry announced a management buyout for an undisclosed sum led by
Advent Venture Partners. Advent backed The Foundry’s management team, led by
CEO Dr Bill Collis and the original founders, Simon Robinson and Bruno
Nicoletti. As founder and Chief Scientist at The Foundry, Simon Robinson has
recently been voted number 52 in Fast Company’s second annual ranking of ‘The
100 Most Creative People in Business’. The Foundry is highly profitable and
has more than doubled in size in the past two years. The Foundry’s products
support a wide range of award-winning host platforms including After Effects,
Autodesk® Media and Entertainment Systems, Avid DS, Nuke, Shake and Final Cut
Pro. In 2007, the Academy of Motion Picture Arts and Sciences awarded a
Sci-Tech Award® to The Foundry’s development team for the Furnace image
processing suite – and the company now holds two products with AMPAS Sci-Tech
Award® winning technology including high-end compositing system Nuke. The
Foundry is headquartered in London, and has offices in Los Angeles. For more
information please visit: www.thefoundry.co.uk
© The
Foundry, its logo and product names are registered trademarks in the UK, USA
and/or other countries. Academy Award is a registered trademark of the Academy
of Motion Picture Arts and Sciences. All other trademarks contained herein are
the property of their respective owners.
Banking
services are provided by Silicon Valley Bank, a member of the FDIC and the
Federal Reserve System. SVB Financial Group is also a member of the Federal
Reserve System.
SVB
Financial Group UK Ltd. is registered in England and Wales at 7th
Floor, 41 Lothbury, London EC2R 7HF UK under No. 5572575 and is authorised and regulated by the
Financial Services Authority. This material has been issued by and approved by
SVB Financial Group UK Ltd. as defined in Section 21 of the Financial Services
and Markets Act 2000. The services which are the subject of this material are
not available to retail clients as defined by the FSA. The material is for
information purposes only and should not be considered as an offer to sell or a
solicitation to buy any of the investments mentioned within, or to make any
investment decision.