SAN FRANCISCO and FREMONT, Calif./June 30, 2003 - Comerica (NYSE: CMA), a leading financial services company, and Digital Fountain, provider of the fastest, most predictable global data-delivery solutions, announced today that Comerica’s Technology and Life Sciences Division has provided Digital Fountain with a $1.5 million line of credit and a $250,000 term loan.
"We are pleased to provide this credit facility to Digital Fountain, which offers a unique technology that is hard to replicate," said Alan Jepsen, senior vice president and managing director, Comerica Northern California Technology and Life Sciences Division. "We’re committed to providing debt capital to venture-backed companies that demonstrate the ability to prosper in today’s very competitive marketplace. Digital Fountain is a wonderful addition to our portfolio, especially since we’ve been making a concerted effort to penetrate the East Bay market."
Since 1998, Digital Fountain has provided fast, predictable global data-delivery solutions based on its patented Meta-ContentTMtechnology, which has been called "one of the most significant and exciting inventions to come along in years." The company’s flagship product, Transporter Fountain, is used by who's who of companies in the media, technology, oil and gas, retail, and government sectors to transport their mission critical files. Digital Fountain’s institutional investors include Matrix Partners, Granite Ventures, Spinnaker Ventures and Copan Partners.
"We are delighted to receive this credit facility from Comerica, which will facilitate the company's expanding revenue growth," said Cliff Meltzer, CEO, Digital Fountain. "Comerica’s products and services will support our continued growth and accelerate the adoption of our technology in a variety of new applications, including automobile data broadcasting, satellite content delivery, and wireless Internet access."
About Digital Fountain
Digital Fountain provides the fastest, most predictable global data-delivery solutions. The company's technology allows customers to realize dramatically increased data transfer speeds and predictable data delivery times resulting in significant savings in both time and expenditures. Digital Fountain's products are based on the company's patented Meta-Content technology, a networking innovation that dramatically simplifies the processes required to completely and perfectly deliver data over any network, regardless of impairments like packet loss and delay. Industry leaders in media, technology, oil & gas, retail and government agencies are currently using digital Fountain products. For more information call 510-284-1400, email press@digitalfountain.com or visit www.digitalfountain.com.
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. 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 nearly $56 billion in assets as of March 31, 2003.
Media Contacts:
Karen Franks
Digital Fountain
(510) 284-1489
karen@digitalfountain.com
or
Adrienne Moch
Pacifico (for Comerica)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank
(408) 556-5111
keith_turner@comerica.com
