Ware Technologies, Inc. (NASDAQ: SVCW), a leading provider of Web-based knowledge management solutions for customer service and support, announced today that Comerica’s Technology and Life Sciences Division has provided the company with a $2.5 million credit facility, consisting of a $2 million revolving line of credit and a $500,000 term loan.
"Comerica is pleased to provide this credit facility to ServiceWare, a supplier of Internet-based problem resolution and knowledge management solutions for more than 200 leading enterprises," said Steven D. Hobman, senior vice president and managing director of Comerica’s Mid-Atlantic North Technology and Life Sciences Division. "We specialize in the niche market of technology banking, and we have the resources and expertise to meet the financial needs of both early- and late-stage companies."
For more than 10 years, ServiceWare has helped businesses develop and manage a repository of knowledge to effectively answer inquiries over the Web and via call centers. Its eService SuiteTM software empowers the delivery of superior service, while reducing costs for support. ServiceWare has operations across the U.S. and European subsidiary operations based in the U.K.
"We were pleased to find a bank that understands the unique financial challenges software companies face. We appreciate receiving this credit facility, which was tailored to contribute to our growth," said Richard Liebman, ServiceWare’s CFO. "The availability of these funds will help us build on our past successes by allowing us to continue to enhance our technology and grow our customer base worldwide."
About ServiceWare
ServiceWare is a leading provider of Web-based knowledge management solutions for customer service and support. ServiceWare's eService SuiteTM software empowers organizations to deliver superior service, while reducing support costs. Powered by MindSyncTM, a patented self-learning search technology, eService Suite enables businesses to develop and manage a repository of knowledge to effectively answer inquiries over the Web and in the call center. More than 200 leading organizations have implemented ServiceWare software including H&R Block, AT&T Wireless, Cingular Wireless, Northeast Utilities, Reuters, Stream International, and QUALCOMM. Learn more today by visiting www.serviceware.com or call (800) 572-5748.
About Comerica’s Technology and Life Sciences Division
Comerica’s Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica’s Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $52.6 billion in assets.
Media Contacts:
Jessica Jordan
ServiceWare Technologies, Inc.
(412) 826-1158 x1413
jjordan@serviceware.com
or
Adrienne Moch
Pacifico (for Comerica’s Technology and Life Sciences Division)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank-California
(408) 556-5111
keith_turner@comerica.com
