PRINCETON, NJ and MONMOUTH JUNCTION, NJ/May 20, 2003 - Comerica (NYSE: CMA), a leading financial services company, and NIKSUN, the market leader in network surveillance, forensics, security and performance monitoring solutions, announced today that Comerica’s Technology and Life Sciences Division has provided NIKSUN with a $2 million credit facility that includes credit line and equipment facility components.
"We are pleased to provide this credit facility to NIKSUN, which has developed technology that addresses performance and security issues created by the widespread use of networks," said Kathleen Coviello, first vice president in Comerica’s Technology and Life Sciences Division. "Debt financing is an important complement to equity funds, and we’re focused on structuring flexible credit facilities for both early- and late-stage venture-backed companies."
Since 1997, NIKSUN has been providing state-of-the-art high-technology solutions that ensure network security and performance. The company’s flagship product, NIKSUN® NetDetectorTM, is recognized worldwide as an advanced network security appliance that delivers four vital functions in an integrated, scalable solution: Network Anomaly and Intrusion Detection, Network Forensic Analysis, Policy Verification, and Continuous Traffic Recording & Storage. The integration of these critical capabilities, on a single appliance, makes NetDetector extremely powerful and cost-effective.
"Obtaining such a credit facility in today’s environment is testimony to NIKSUN’s business and technology leadership. This line of credit will be very useful to us as we market our leading-edge solutions to customers worldwide while constantly developing next generation network security solutions," said Satish Pruthi, NIKSUN’s CEO. "We look forward to maintaining a long-term relationship with Comerica, which has demonstrated its ability to respond to our financial needs and has the resources available to continue to meet them as we grow."
About NIKSUN, Inc.
NIKSUN, Inc. is the recognized world leader in developing and deploying a complete range of network performance monitoring, security surveillance and forensic analysis solutions for a wide range of networks. NIKSUN’s integrated and scalable solutions deliver unprecedented power, flexibility, and real-time response, while being extremely cost-effective. The company’s patent-pending real-time analysis and recording technology enables enterprises, carriers, ASPs, and ISPs to provide secure and reliable network infrastructures and services. NIKSUN is headquartered in New Jersey and has sales offices in major cities throughout the U.S., Europe and Asia Pacific. For more information, please visit www.niksun.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:
Nagraj Seshadri
NIKSUN, Inc.
(732) 821-5000 x3357
seshadri@niksun.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
