BLUE BELL, Pa. & RESTON, Va./Jan. 21, 2002 -- Fiberlink, a leading provider of managed secure mobile access solutions, and Comerica Bank, a subsidiary of Comerica Incorporated (NYSE:CMA), announced today that Comerica's Technology and Life Sciences Division has provided the Pennsylvania company with a $7.5 million working capital facility. The funds will be used for general corporate purposes.
"As the business community grows increasingly mobile, Virtual Private Networks (VPNs) are becoming more and more important as a tool to improve productivity," said April Young, senior vice president and director of Comerica's Mid-Atlantic Technology and Life Sciences Division. "Fiberlink has established itself as a leader in the VPN space as a cash-flow positive company with a rapidly growing Fortune 1000 customer base. We are pleased to support its continued development with this working capital facility."
Founded in 1991, Fiberlink's mission is to enable enterprises to mobilize their businesses with secure, reliable connectivity to corporate data and applications through managed VPN solutions. Its team of professionals design, develop and deploy low-cost, high-performance communications solutions using redundant and diverse backbones, and superior local calling coverage with more than 10,000 points of presence (POPs) around the world. In late 2001, the Boston-based technology research firm, Yankee Group, identified Fiberlink as a leading company that meets stringent enterprise security demands.
"While Fiberlink is excited to have emerged as a leading provider of Internet-based VPNs, we realize the role of a service provider is to continue innovating to best serve the changing needs of its clientele," said Stephen Zarrilli, Fiberlink's CFO. "Getting this credit facility from Comerica Bank, a well-respected business bank with a strong technology-focused practice, will certainly assist us as we work toward developing technology for tomorrow."
About Fiberlink
Fiberlink is a provider of managed Internet-based VPN solutions. Since 1997, Fiberlink has offered a full range of customized, Internet-based communication services, including global remote access, and site-to-site LAN-based VPNs. Fiberlink is ranked in the Innovation 100 series, a program sponsored by InformationWeek and CapGemini/Ernst & Young that spotlights industry leaders who define and implement innovative customer-centric business and technology strategies within the new connected economy. Fiberlink customers include PricewaterhouseCoopers, BMC Software, The Gillette Company, Russell-Mellon Analytical Services and Barnes & Noble. Headquartered in Blue Bell, Pa., Fiberlink has sales offices in Atlanta, Boston, Chicago, Columbus, Dallas, Denver, Houston, Miami, New York, Phoenix, San Francisco, San Jose, Seattle and Washington, DC, with more offices opening this year. For more information about Fiberlink, visit www.fiberlink.com.
About Comerica's Technology and Life Sciences Division
Comerica Bank's Technology and Life Sciences Division, which was created when Comerica Incorporated acquired Imperial Bancorp in early 2001, 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 18 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica Incorporated is the 17th largest bank holding company in the nation, with $50 billion in assets.
Media Contacts:
Comerica Bank
Keith Turner, 408/556-5111
keith_turner@comerica.com
or
Pacifico (for Comerica Bank)
Adrienne Moch, 408/293-8600 ext. 319
amoch@pacifico.com
or
Fiberlink
Kristen Muckleroy, 215/793-6541
kmuckleroy@fiberlink.com
