Comerica Provides $1 Million Term Loan to Trinity Convergence.Business Editors/High-Tech Writers DURHAM, N.C.--(BUSINESS WIRE)--June 24, 2002 Comerica (NYSE NYSE See: New York Stock Exchange :CMA CMA - Concert Multithread Architecture from DEC. ), a leading 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. company, announced today that its Technology and Life Sciences Division has provided Trinity Convergence with a $1 million term loan. Raleigh-based Trinity is the leading provider of integrated embedded software Instructions that permanently reside in a ROM or flash memory chip. Embedded software may be immediately available to the CPU or, for faster execution, may be transferred to RAM first and then executed. solutions for packet telephony Synonymous with IP telephony and voice over IP (VoIP), in which a digital voice stream is broken up into small chunks (packets) and transmitted over a packet-switched network. See IP telephony and packet switching. equipment manufacturers. The funds will be used to purchase equipment and software. "Comerica has lenders in technology centers like the Research Triangle so we can become familiar with the financial needs of local companies such as Trinity Convergence," said April Young, senior vice president and managing director of Comerica's Mid-Atlantic Technology and Life Sciences Division. "Comerica is committed to working with venture-backed technology and life sciences companies of all sizes, providing them with both credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities and typical banking services." Trinity Convergence designs, develops and markets integrated embedded Inserted into. See embedded system. packet voice and fax software for telecommunications equipment suppliers. The company's staff operates from both its Raleigh headquarters and its Cambridge, United Kingdom research and development center. Trinity Convergence is backed by prominent venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] such as Intersouth Partners, Mid-Atlantic Venture Funds and Core Capital Partners. "Comerica provides Trinity with the resources of a large bank but also the personal service we expect from local bankers," said Jeff Critser, Trinity Convergence president and 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. . "Trinity is quickly gaining market traction based on our unique, integrated approach to packet telephony system-level software. Comerica's support will enable us to continue executing against our business plan." "Comerica has been a good partner for Trinity and its investors. They worked closely with us to structure a transaction that was beneficial for all parties," said Mitch Mumma, general partner at Intersouth Partners. About Trinity Convergence Trinity Convergence provides telecom equipment OEMs, media blade and DSP (1) (Digital Signal Processor) A special-purpose CPU used for digital signal processing applications (see definition #2 below). It provides ultra-fast instruction sequences, such as shift and add, and multiply and add, which are commonly used in math-intensive providers with a complete system-level packet telephony framework. Unlike closed DSP-centric and individual component-level offerings, Trinity's integrated VeriCall(TM) software provides OEMs with not only development cost savings but also the ability to preserve their proprietary intellectual property. And because VeriCall is flexible and portable, customers can quickly develop high-density, carrier-grade products. Those offerings are future-proofed because Trinity supports industry standards as well as various silicon providers. For more information, visit www.trinityconvergence.com. About Comerica's Technology and Life Sciences Division Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services 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 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $50 billion in assets. For more information, visit www.comerica.com. |
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