ATEL Ventures Funds Lease Financing for Cedar Point Communications; New Arrangement Enables Further Rapid Growth.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- ATEL Ventures, Inc. a provider of secured financing to emerging growth companies, has committed $1.5 million in lease financing to Cedar Point Cedar Point is a 364 acre (1.5 km²) amusement park located in Sandusky, Ohio, U.S. on a narrow peninsula jutting into Lake Erie. It is one of the world's largest amusement parks (by ride count) with 69 rides and currently holds the world record for most roller coasters with 17, one Communications, the leader in integrated packet-based voice and multimedia switching technologies for the cable telecommunications industry. This financing package will enable Cedar Point to acquire new equipment and further grow the company. "We see Cedar Point as perfectly positioned for accelerated growth," says Steven Rea, Executive Vice President of ATEL Ventures, a division of ATEL Capital Group. "It is the kind of company we target -- one that's armed with the right innovative technology to lead the market in an industry that is about to take off. Our financial agreement will allow them to secure their position as the major force in cable voice switching." Cedar Point CFO See Chief Financial Officer. Jeff Lavin comments, "Our SAFARI C3 Media Switching System is the first telephony solution that simplifies the complexity of delivering VoIP services over HFC networks and provides the cable industry with a cost-effective, scalable, carrier-class solution. Our new arrangement with ATEL Ventures will enable us to take advantage fully of the rapidly growing market demand for VoIP as the cable industry expands in that direction. It was a compelling offer, given the usual cost of additional capital, and really made sense for us." About ATEL Ventures Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely-held, independent leasing company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with approximately $2 billion in asset-secured transactions under management. ATEL Capital formed ATEL Ventures, Inc. to provide working capital and equipment financing term loans, A/R financing and asset refinancing/sale and leaseback credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities to emerging growth companies in information technology, life sciences and specialty retail. ATEL Ventures has recently committed to invest approximately $100MM to venture-backed companies over the next two years. For information about ATEL Ventures and its services please contact: Steven Rea, EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition , 415-616-3436, srea@atel.com or visit their website at www.atel.com. About Cedar Point Communications Cedar Point Communications' totally integrated voice and multimedia switches provide cable system operators with cost-efficient, simplified voice-over-IP alternatives to distributed soft-switching cable telephony See cable telephone. options. Cedar Point's SAFARI C3 Media Switching System is a PacketCable(TM)-qualified, Carrier Class Cable (C3) solution that supports legacy circuit and PacketCable(TM) voice services, as well as video telephony See videophone. and non-traditional SIP-based devices. The company is based in Derry, NH and is backed by a group of investors that include Battery Ventures, Charles River Ventures, JP Morgan Partners, Star Ventures and Comcast Interactive Capital. For more information, please visit www.cedarpointcom.com. Note to Editors: In the product name SAFARI C3 noted in this news release, the 3 is superscript Any letter, digit or symbol that appears above the line. For example, 10 to the 9th power is written with the 9 in superscript (109). Contrast with subscript. . This symbol may not appear properly in some systems. |
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