PALO ALTO, Calif. and SUNNYVALE, Calif. /August 18, 2003 - Comerica Bank (NYSE: CMA), a leading financial services company, and TeraBurst™ Networks, Inc., a leading provider of optical networking solutions for distributed visualization, announced today that Comerica’s Technology and Life Sciences Division has provided TeraBurst with a $2 million credit facility.
"We are pleased to provide this credit facility to TeraBurst, which has developed technology designed to enable real-time visual collaboration, said Alan Jepsen, senior vice president, managing director, Comerica Northern California Technology and Life Sciences Division. We remain committed to providing debt financing to companies throughout their life cycles, whether they have just received their A equity round or they are a well-established publicly traded entity."
TeraBurst’s Wide Area Visualization Solution (WAVSTM) meets the needs of customers that need to facilitate real-time interactive collaboration over wide area networks. The TeraBurst solution, which includes the company’s optical switching systems, results in unparalleled real-time analysis capabilities, with real-time audio and remote keyboard and mouse control enabling a completely interactive experience.
"The Comerica team demonstrated a unique knowledge of our business challenges and the ability to serve our financial needs as our company continues to grow, so we are delighted to initiate our relationship with this credit facility," said Ashok Jain, CEO, TeraBurst Networks. "As companies become more geographically disparate, we see unlimited potential for our solution to be employed by organizations that require high-quality interactive visualization services from remote locations using either optical or data networks."
About TeraBurst Networks
TeraBurst Networks, Inc. develops scaleable, high-performance solutions for distributed visualization applications. Its systems are designed to enable distributed and interactive visualization applications by providing low-latency connectivity between locations utilizing high-resolution, 3D stereoscopic graphics in both the LAN and WAN. Its products are also designed to provide resource sharing of centrally located high-performance computing capabilities between several remote locations using optical, Ethernet and IP network infrastructures. The company is headquartered at 1289 Anvilwood Ave, Sunnyvale, CA 94089. Tel: (408) 400-4100. For more information: info@teraburst.com or visit www.teraburst.com.
About Comerica Bank’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. From 18 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 $59 billion in assets as of June 30, 2003.
For More Information:
Claude Sandroff
TeraBurst Networks
(408) 400-4231
Adrienne Moch
Pacifico (for Comerica)
(408) 293-8600 x319
Keith Turner
Comerica Bank
(408) 556-5111
