6/28/2002 - Silicon Valley Bank (the “Bank”), a wholly owned subsidiary of Silicon Valley Bancshares, today announced it provided Equator Technologies, Inc. with an extended and increased $6 million working capital line of credit.
Equator Technologies is a leading provider of high-performance, programmable and power-efficient System-on-a-Chip processors for video streaming and image processing applications. Through its flexible Broadband Signal Processor (BSP™) family of chips, Equator enables OEMs in a variety of markets, including video conferencing, digital head-ends, security and surveillance and set-top boxes, to achieve a rapid time to market and time to revenue for high-definition, video-centric applications. The unique price performance of Equator's BSP chips has been validated through market endorsements by renowned customers such as DMS (Acer), Liberate, Media100, Microsoft, Optibase, Pace, Polycom, Samsung, Siemens, Snell and Wilcox, Videotele.com and Xerox.
“Our relationship with SVB and the extension and increase of our revolving credit line provides us with the working capital resources necessary to fuel our continuing high revenue growth and to maintain the momentum we have achieved in the marketplace,” said Brian T. McGee, CFO of Equator Technologies.
"Equator has developed a strong leadership position in the digital video-related market. We have been very impressed with their ability to successfully execute their business plan and we look forward to assisting them with their growth strategy moving forward,” said Ash Lilani, the Bank’s Region Manager, South Bay Division.
About Equator Technologies, Inc.
Equator Technologies is a leading provider of high performance, programmable, power efficient System-on-a-chip processors designed for video streaming and image processing applications across a wide range of consumer and enterprise end markets. Equator offers the BSP™ family of Broadband Signal Processor chips, the iMMediaTools® software development toolkit, media libraries, and reference platforms for development and deployment of video streaming and video processing systems. With more than 140 customers worldwide, Equator provides solutions to the digital media, digital video communications, video security and surveillance, digital imaging, and automotive video markets. Based on a high-performance VLIW core and optimized for video processing, the BSP-15 family of chips delivers up to 40 GOPS of video processing power. Utilizing Equator's optimizing compiler technology, BSP-15 chips are 100% programmable in C/C++, enabling rapid deployment and field upgradeability of new applications and devices. A software programmable BSP-15 chip can replace multiple fixed-function ASICs, thereby reducing both complexity and cost of system designs. Winner of the "2001 Fabless Semiconductor Association Best Financial Performer - Private Company" award and picked by Cahners Research as the top private company on the list of 30 best small electronics companies, Equator is a recognized leader in video processing solutions. Founded in 1996, Equator is a privately held company headquartered in Campbell, Calif., with additional offices worldwide. More information about Equator is available at www.equator.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 has 11 offices throughout California and operates regional offices in 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
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