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WBS Connect Secures $3.5 Million of Credit from Silicon Valley Bank for Continued Expansion

June 30, 2008 | Chris Payatagool

wbsconnect.jpgWBS Connect, a Colorado-based global technology services company, today announced it has secured $3.5 million in new capital through credit facilities with Silicon Valley Bank (SVB), a leading provider of diversified financial services to companies in the technology, life science, private equity and premium wine industries.

Denver, CO June 28, 2008 -- WBS Connect, a Colorado-based global technology services company, today announced it has secured $3.5 million in new capital through credit facilities with Silicon Valley Bank (SVB), a leading provider of diversified financial services to companies in the technology, life science, private equity and premium wine industries. The credit facility will be used as additional working capital in support of WBS Connect's aggressive growth strategy and objectives. It will allow WBS Connect to continue its expansion of a worldwide network footprint, further enabling businesses to connect to their world. Currently, WBS Connect has an extensive technology framework built throughout North America, Europe, and Asia and the company is working to expand its presence in South America and the Middle East.


"SVB has been dedicated to high-growth technology companies like WBS Connect for 25 years," said Ryan Incorvaia with Silicon Valley Bank. "The company has a driven management team and we're proud of its success to date. We're excited to be WBS Connect's financial partner and we look forward to continuing to provide the company with the resources it needs to achieve its goals."

Through its network platform and partnerships with tier 1 global carriers, WBS Connect delivers IP transit, transport, Content Delivery Network (CDN) services, data center colocation services, and expert network consulting services. The company also recently announced that it is now offering telepresence and high-definition video conferencing services over its worldwide carrier-class, IP network. This will allow businesses to communicate seamlessly with remote offices, partners and vendors, even when groups are on different private networks. The company continues to transform the industry with technology innovation and unprecedented service delivery and as a result it has achieved consistent yearly revenue growth in the triple digits.

"It's a fact that today's global-facing businesses require IP transit connectivity, high-definition communication capabilities and other premium network services to be competitive," said Scott Charter, managing partner of WBS Connect "We feel WBS Connect is uniquely positioned to support this wave of growth and with additional funding and continued innovation from our team, we can better anticipate our customers' needs and deliver technology solutions above and beyond their expectations."

About Silicon Valley Bank

Silicon Valley Bank is the premier commercial bank for emerging, growth and mature companies in the technology, life science, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. 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 27 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve.

About WBS Connect

WBS Connect is a privately-held provider of worldwide technology services. The company leverages multi-gigabit commitments with IP transit carriers to offer direct connections in the United States, Europe and Asia. WBS Connect also offers colocation, storage, and expert managed network services. WBS Connect has a presence in carrier neutral data centers in Amsterdam, Chicago, Dallas, Denver, London, Los Angeles, Miami, Newark, NYC, Seattle, and Toronto. For more information visit: www.wbsconnect.com.

[via PRWeb]

 







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