Seattle, WA -- July 3, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it provided Wireless Services Corporation (WSC) with an equipment financing facility. In addition, WSC has also established a deposit relationship with the Bank.
WSC is full-service provider of the Wireless Application Delivery Platform (WADP). WADP is a complete managed solution enabling wireless carriers and enterprises to offer the latest wireless applications to their end users, regardless of the device.
"Silicon Valley Bank is a great match for our company," said Michael Scheaffer, vice president of finance at WSC. "It is crucial to our continued success that we leverage our financial tools as effectively as possible and our relationship with Silicon Valley Bank certainly helps us to achieve that goal."
"Wireless Services has an established track record in wireless platform applications market," said Art Hiemstra, Silicon Valley Bank's Northwest division manager. "They are building an impressive list of strategic partners and customers, and we are excited to be one of those partners."
About Wireless Services Corporation
Founded in 1996, Wireless Services Corporation is the leader in designing and operating application delivery platforms for wireless telecommunications networks. Wireless Services' unique expertise is in its ability to provide universal wireless data applications to any wireless provider regardless of their current or future network infrastructure. The company provides telco-level reliability coupled with a full-service, 24x7 operations team. With more than four years of operational history, Wireless Services Corporation can easily facilitate the global delivery of email, commerce services and proprietary data to virtually any wireless device around the globe. The company is headquartered in Bellevue, Washington.
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, firstname.lastname@example.org.