Egenera secures $45m funding

In addition, Silicon Valley Bank, the primary subsidiary of Silicon Valley Bancshares (Nasdaq:SIVB), has increased the company's existing credit line from $10 million to $30 million. Egenera plans to use the $45 million in funding to support growth through investments in sales, customer support and international expansion.

"Egenera has a management team, market opportunity and customer value proposition that make it a truly unique company," said Gregory Clark, managing director, Horizon Technology Finance LLC. "CEO Bob Dutkowsky and his team continue to execute on every level - penetrating large, global accounts in diverse markets and helping customers simplify their datacenters with an innovative new server architecture. We're pleased to be part of their story."

"We've been working with Egenera since June 2003," noted David Reich, senior vice president, Silicon Valley Bank. "Throughout this time, we've been impressed with both the company's vision and continued success. We are pleased to support Egenera's growth plans through new financing and look forward to extending our relationship with the company."

For sophisticated and dynamic enterprises - including those that have built up complex, non-responsive and underutilized IT infrastructures - the Egenera BladeFrame system simplifies the datacenter and reduces operational cost and complexity while improving performance and responsiveness.

"We are pleased that two premiere financial institutions have shown such confidence in Egenera's business and performance," noted Thomas F. Sheehan, chief financial officer, Egenera. "In 2004 alone, our customer base grew more than 200 percent across a diverse set of industries. The additional funding through these agreements with Horizon and SVB will help us further penetrate our target markets while strengthening our alliances and distribution channels worldwide."