ClearCube Technology Receives $4 Million Credit Facility From Comerica Bank.Business Editors AUSTIN, Texas--(BUSINESS WIRE)--Dec. 4, 2001 ClearCube Technology, Inc., a world leader in centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. blade computing computing - computer , and Comerica Bank, a subsidiary of Comerica Incorporated (NYSE NYSE See: New York Stock Exchange :CMA CMA - Concert Multithread Architecture from DEC. ), announced today that Comerica's Technology and Life Sciences Division has provided the Austin company with a $3.5 million 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. line and a $500,000 equipment credit line. ClearCube will use the funds to support sales growth of its computer systems. "ClearCube has emerged as an industry leader in transmitting data over long cable runs in the managed desktop and network environment," said Tim J. Klitch, first vice president of the Texas region of Comerica's Technology and Life Sciences Division. "We welcome the opportunity to support companies like this, which are developing innovative computer technology that will benefit enterprises worldwide." Founded in 1997, ClearCube's goal is to develop cost-effective methods to transmit data faster and further over existing copper wire. It has achieved that with its managed desktop architecture -- a hardware platform, software management solutions and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services -- that increases profit retention by simplifying IT management. ClearCube's technology centralizes desktop computing assets and delivers full PC functionality to users as far away as 200 meters via industry-standard Cat5 cabling. "The success of our research and development efforts is reflected in both our technology and our 30+ patents on data transmission, computing models and wire characteristics," said Mike Frost, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ClearCube. "We appreciate the support of a respected financial institution like Comerica. Coupled with that of our institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , it positions us for additional technological breakthroughs." About ClearCube Technology ClearCube Technology was founded in 1997 with the mission of creating a simpler way for enterprise and government organizations to manage networked computer infrastructures. As a world leader in centralized blade computing and desktop management, ClearCube develops both hardware and software technologies that give IT managers a complete solution for unprecedented control over their computing and networking assets. Ultimately, the ClearCube solution gives companies a more manageable, secure infrastructure that improves uptime, reliability, and cost efficiency. For more information, visit www.clearcube.com. About Comerica's Technology and Life Sciences Division Comerica Bank's Technology and Life Sciences Division, which was created when Comerica Incorporated acquired Imperial Bancorp in early 2001, is one of the nation's leading technology banking practices, offering a wide range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 18 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica Incorporated is the 17th largest bank holding company in the nation, with $50 billion in assets. For more information, visit www.comerica.com. |
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