Vpacket Gets Financing

Silicon Valley Bank has issued $3.2 million in equipment financing to Vpacket Communications

October 16, 2001

1 Min Read

SANTA CLARA, Calif. -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced the issuance of $3.2 million in equipment financing to Vpacket Communications, a closely held Silicon Valley company delivering the power of converged voice/data solutions. Vpacket will use the financing to upgrade and expand office support functions as it completes the deployment of its 6100 series voice/data router products, the first to deliver toll quality voice over IP (VoIP) to the enterprise. "Given today's tight economic market, receiving a multi-million dollar equipment financing package further underscores the importance of our company's technology and the need for next-generation telecommunications products," noted Abraham Wei, Vpacket's CEO. "Silicon Valley Bank's financing gives us the ability to expand and upgrade our office infrastructure in keeping with our company's forward momentum." Vpacket Communications Inc.

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