Affinity Internet Inc. Establishes Multi-Million Dollar Line of Credit With Transamerica Technology Finance.Business Editors/High-Tech Writers EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--Nov. 27, 2000 Credit Line to Support Affinity Internet's Next Generation Hosting Platform Building Program Affinity Internet Inc., a leading provider of Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. applications and services, announced today that it has established a line of credit with Transamerica Technology Finance, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Transamerica Finance Corp. The funds are available for ongoing capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. to support the expansion of Affinity's managed Web and applications hosting infrastructure over the next year. "Under the terms of the agreement, the Transamerica line of credit will be used to help finance Affinity's ongoing commitment to providing our customers with the most advanced hosting platform and services available today," said Christopher Woodward, Affinity's director of finance and controller. Affinity launched in October of 1999 with $60 million in funding and deployed its next generation Internet See Internet2. hosting platform earlier this year. "It is a privilege having Affinity as a customer," stated David G. Wanders, Transamerica's executive vice president-originations. "Affinity's business model identifies clear advantages over its competitors in providing Web and applications hosting for small and medium sized enterprises. We are excited to be a part of the world-class hosting service they are building." Affinity's hosting platform is comprised of state-of-the-art technology from leading edge suppliers and its architecture provides customers of Affinity with Websites and services at the highest industry performance and security standards at competitive prices. "We are proud to be able to partner with Transamerica's Technology Finance Division in our mission to become one of the most advanced managed Web and applications hosting companies in the Internet services marketplace today," stated John McIntyre John McIntyre is the name of several people:
About Affinity Internet Inc. Affinity Internet Inc. (Affinity) is a leading provider of Web and application hosting solutions. Affinity's mission is to support small and medium sized businesses, resellers, and private label partners with its customizable and brandable service offerings, tiered service approach, integrated operations, and exceptional understanding of small and medium-sized business customers' hosting needs. Affinity is the Web and application hosting partner for over 40,000 businesses and over 1800 private label partner companies located in over 100 countries. Its breadth of service offerings, customer-centric approach, focus, and technical capability delivers the services that customers need. Affinity's experienced professional staff is committed to proactive support including education and training for its customers and sales channel partners. For more information about Affinity Internet Inc. visit: www.affinity.com. About Transamerica Technology Finance Headquartered in Rosemont, Ill., Transamerica Technology Finance (TTF TTF TrueType Font (file extension; Windows) TTF Transportation Trust Fund TTF Thyroid Transcription Factor TTF Timber Trade Federation TTF Time-to-Treatment Failure (endpoint in clincial trials) ) is one of the fastest growing segments of Transamerica Finance Corp. (TFC TFC Traffic TFC Traffic (logging abbreviation) TFC Team Fortress Classic (game) TFC The Filipino Channel TFC Thin Film Composite (type of reverse osmosis membrane) ), and a leader in equipment financing, revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facilities, and bridge and term loans to high growth, venture-backed businesses in the life sciences and information technology industries. TTF has committed over $1 Billion in debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay to venture-backed, development stage businesses throughout North America. TTF is a division of TFC, a wholly owned subsidiary of AEGON. AEGON N.V. is one of the world's largest listed insurance and related financial services organizations in the world with over $230 Billion in assets. www.transamerica.com\ttf |
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