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AWS Convergence Technologies Selects SVB Silicon Valley Bank For Financial Services

Posted on: Thursday, 29 June 2006, 09:00 CDT

VIENNA, Va., June 29 /PRNewswire-FirstCall/ -- AWS Convergence Technologies, Inc., owner of the WeatherBug(R) brand of products and services, and leading provider of live, local weather information services, has selected SVB Silicon Valley Bank for financial services and term debt facilities. This will provide AWS with additional long-term financing for potential acquisitions and international expansion in the future. SVB Silicon Valley Bank is the commercial banking arm of SVB Financial Group .

(Logo: http://www.newscom.com/cgi-bin/prnh/20060213/SFM027LOGO)

"We are seeing severe weather increasing year over year across the globe which makes the need for live, precise and accurate weather information more important than ever," said Rich Spaulding, CFO, AWS Convergence Technologies. "Silicon Valley Bank was chosen based on its ability to offer both commercial and investment banking services on a global scale that are specifically targeted for technology companies. Silicon Valley Bank's global expertise and ability to help us expand overseas was a significant factor in our selection of a financial services partner."

"For more than a decade, we've been dedicated to helping innovative, DC- area companies like AWS build their businesses with diverse financial services customized to their unique challenges, and we're glad we're in a position to make a positive impact with AWS," said Sean Stone, senior relationship manager in SVB Silicon Valley Bank's Vienna office.

Through this new relationship with SVB Silicon Valley Bank, AWS will have access to the company's worldwide network of connections and its extensive expertise in working with private technology companies of all sizes. AWS will also be able to take advantage of SVB Silicon Valley Bank's full range of financial services ranging from competitive credit, global cash management, broker-dealer investment services and corporate asset management to investment banking advisory and global consulting services.

About SVB Silicon Valley Bank

SVB Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Alliant, SVB Capital and SVB Global. SVB Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through SVB Financial Group's 27 U.S. offices and three international operations. More information on the company can be found at http://www.svb.com/.

SVB Silicon Valley Bank refers to the commercial banking operation of SVB Financial Group, which includes Silicon Valley Bank, the California bank subsidiary of SVB Financial Group.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060213/SFM027LOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com

SVB Financial Group

CONTACT: Carrie Merritt of SVB Financial Group, +1-503-675-0372, orcmerritt@svb.com

Web site: http://www.svb.com/

Source: PRNewswire-FirstCall

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