- April 04, 2002 - Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced it provided SmartSynch, Inc. with a $4.6 million working capital line of credit.
Jackson, Mississippi-based SmartSynch, Inc. is a privately held technology company providing smart metering solutions to the energy and utility industry.
"SmartSynch has developed a leadership position providing wireless solutions to the rapidly growing energy technology sector. The company has a strong management team and an impressive technology platform," said Alan P. Spurgin, Senior Relationship Manager in the Bank's Atlanta office. "We are delighted to support SmartSynch as it continues to expand."
"This financing demonstrates tremendous confidence in our business plan and we value SVB's commitment to supporting the growth and expansion of truly innovative companies," said Dan Finan, CFO of SmartSynch. About SmartSynch
SmartSynch, an energy technology company based in Jackson, Miss., is the leading provider of smart metering solutions to the energy and utility industry. Its core product, the SmartMeter System, enables energy and utility companies to communicate with commercial and industrial electricity meters using wireless communications and the Internet. The SmartMeter System manages the delivery of critical information to any application system, workstation, computer, or browser enabled personal communications device. For more information, visit www.smartsynch.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: 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
. SVB Contacts:
Alan P. Spurgin, (404) 760-3688, firstname.lastname@example.org SmartSynch Contact:
Nola Nicholas, (601) 362-1780 x1013, email@example.com