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Egenera Secures Funding of $45 Million; Horizon Technology Finance and Silicon Valley Bank Support GrowthMARLBORO, Mass. --(Business Wire)-- April 27, 2005 -- Egenera Inc., a global leader in utility computing, today announced an agreement with Horizon Technology Finance LLC that will provide up to $15 million of long-term funding to Egenera. In addition, Silicon Valley Bank, the primary subsidiary of Silicon Valley Bancshares (Nasdaq:SIVB), has increased the company's existing credit line from $10 million to $30 million. Egenera plans to use the $45 million in funding to support growth through investments in sales, customer support and international expansion. "Egenera has a management team, market opportunity and customer value proposition that make it a truly unique company," said Gregory Clark, managing director, Horizon Technology Finance LLC. "CEO Bob Dutkowsky and his team continue to execute on every level - penetrating large, global accounts in diverse markets and helping customers simplify their datacenters with an innovative new server architecture. We're pleased to be part of their story." "We've been working with Egenera since June 2003," noted David Reich, senior vice president, Silicon Valley Bank. "Throughout this time, we've been impressed with both the company's vision and continued success. We are pleased to support Egenera's growth plans through new financing and look forward to extending our relationship with the company." For sophisticated and dynamic enterprises - including those that have built up complex, non-responsive and underutilized IT infrastructures - the Egenera(R) BladeFrame(R) system simplifies the datacenter and reduces operational cost and complexity while improving performance and responsiveness. "We are pleased that two premiere financial institutions have shown such confidence in Egenera's business and performance," noted Thomas F. Sheehan, chief financial officer, Egenera. "In 2004 alone, our customer base grew more than 200 percent across a diverse set of industries. The additional funding through these agreements with Horizon and SVB will help us further penetrate our target markets while strengthening our alliances and distribution channels worldwide." About Egenera Inc. Egenera is a global leader in delivering computing solutions that simplify datacenter operations and infrastructure. The Egenera BladeFrame product family simplifies the datacenter with an innovative server architecture specifically designed to reduce complexity and enable IT to respond rapidly to business requirements. Market-leading enterprises around the world trust the Egenera BladeFrame system to run their most important business applications and achieve higher resource utilization, faster application time-to-market, and lower total cost of ownership. Headquartered in Marlboro, Mass., Egenera has offices worldwide. More information is available at www.egenera.com. About Horizon Technology Finance LLC Horizon Technology Finance is an independent venture-funding firm that provides senior and subordinated debt to emerging technology companies in the information technology, life science, and health care industries. Horizon's team has extensive venture lending experience, with knowledge, expertise and relationships to provide custom venture debt products and financing solutions to our customers. Horizon has offices in Farmington, CT and Pleasant Hill, CA. For more information about Horizon, go to www.horizontechfinance.com, or to contact the company directly, please contact Robert D. Pomeroy, Jr., Managing Member at (860) 676-8656 or [email protected]. About Silicon Valley Bank Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life science, private equity and the premium wine industries. 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 domestic offices and two international subsidiaries in the U.K. and India. More information on the company can be found at www.svb.com. Egenera, Egenera stylized logos, and BladeFrame are registered trademarks of Egenera, Inc., in the United States and other countries. All other product names, service marks and trademarks mentioned herein are trademarks of their respective owners. |
