SAN JOSE, CA--(Marketwire - August 26, 2010) - Bridge Capital Holdings (
"This credit facility further strengthens Wi2Wi by expanding our working capital cycle with a bank guarantee for our key vendors, supporting the substantial growth and momentum in our revenue and design wins, and enhancing our increasing production and ramp-up world-wide," said Wi2Wi CEO Dr. Reza Ahy. "Wi2Wi's sales and procurement of key components have been growing very rapidly," Ahy adds. "Bridge Bank is a dynamic partner for Wi2Wi, and we look forward to further expanding our long-term and winning partnership with Bridge Bank."
The Vendor Assurance facility is an added program to the existing facility secured by Wi2Wi's outstanding receivables and will be reviewed for further expansion on a quarterly basis. "We are excited about Wi2Wi's significant growth over the past thirty months," said Jeffrey Javier, Senior Vice President of Bridge Bank's Capital Finance Group. "Wi2Wi continues to have a strong presence in the expanding global market for embedded wireless solutions and Bridge Bank remains supportive of the growing financial partnership with Wi2Wi."
Wi2Wi has attained a significant number of new design wins in 2010 in the Americas, Asia, and EMEA regions, and in the premium consumer, business-class, education, industrial and government market segments worldwide.
About Wi2Wi Inc.
Wi2Wi Inc. is the leading supplier to the premium markets of Wireless System-in-Package (SIP), module, and subsystems for embedded applications including WiFi, Bluetooth, and GPS. Wi2Wi is a leader in wireless solutions for business-class handhelds (including MIDs), premium consumer applications (including set-top boxes), education (including eBooks), industrial, and defense applications. Headquartered in San Jose, California, Wi2Wi provides leading-edge wireless solution for embedded applications with substantial savings on time-to-market, cost, and system-integration. Wi2Wi solutions also leverage its patent-pending wireless integration technology along with tier-1 global partnerships with industry leading silicon and supply chain companies.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on The NASDAQ Stock Market under the trading symbol BBNK. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business bank. The Bank is dedicated to meeting the financial needs of small, middle-market, and emerging technology businesses. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. Visit Bridge Bank on the web at www.bridgebank.com.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.