Rockville, MD - June 14, 2002 -
Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced that it has provided Zagros Networks, Inc., with a multi-million dollar working capital and equipment financing facility.
"Zagros is pleased to have aligned with Silicon Valley Bank at this stage of our company's growth", said Vincent F. Zumbo, Chief Financial Officer of Zagros. "SVB's commitment to early stage financing is clearly evident and we look forward to a strong working relationship with them as we continue to grow our business."
"We are excited to provide Zagros with this financing to help accelerate the company's growth. For an early stage company, Zagros has several of the essential elements required for future success, including a compelling technology, seasoned management team, and a strong investor group. We are looking forward to continuing to strengthen our relationship with the company and its management team," said Shawn Goozman, Relationship Manager in the Bank's Northern Virginia office. About Zagros Networks, Inc.
Zagros Networks, based in Rockville, MD, is a leading developer of communication ICs and software that enable circuit switched performance guarantees in packet switched systems. The Company's patent-pending scheduling and switching technologies efficiently minimize network congestion bottlenecks to provide guaranteed bandwidth delivery. For more information about Zagros Networks, please visit www.zagrosnetworks.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 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, Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; New York, New York; Durham, North Carolina; West Palm Beach, Florida; 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 Contact:
Jane Lodato, (408) 654-5599, email@example.comZagros Networks Contact:
Vince Zumbo, (240) 683-8050 x334, firstname.lastname@example.org