DATA RACE secures $1.5 million line of credit with Imperial Bank.SAN ANTONIO--(BUSINESS WIRE)--Dec. 6, 1996--DATA RACE (Nasdaq National Market: RACE) announced Friday the company has secured a $1.5 million line of credit with Imperial Bank. The company plans to use this line of credit to finance working capital and to launch its new Personal Multiplexer See multiplexor and multiplexing. multiplexer - multiplexor product line for telecommuters. Greg Skalla, DATA RACE's vice president-finance and chief financial officer, stated, "The company is very pleased that we were able to reach this agreement with Imperial Bank on terms that are favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. for our shareholders. "DATA RACE's objective is to become a leader in what appears to be an emerging multi-billion dollar market for telecommuting telecommuting, an arrangement by which people work at home using a computer and telephone, transmitting work material to a business office by means of a modem and telephone lines; it is also known as telework. products. This credit line is an important step in ensuring adequate capital is in place as we pursue this promising opportunity." Mansoor Ghori, vice president and Southwest regional manager for Imperial Bank, commented, "Our bank specializes in assisting companies with high growth opportunities, especially technology companies that have established management teams. We are very pleased to work with DATA RACE as they pursue their plans for growth." About DATA RACE DATA RACE, Inc. designs, manufactures, and markets a line of communication products that meet the need for "Remote Access to the Corporate Environment." These products include modems for notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. that support data and fax connections, as well as voice connections through speakerphone speak·er·phone n. A telephone or telephone attachment that contains both a loudspeaker and a microphone, allowing several persons to participate in a call at the same time without the telephone receiver being held. Noun 1. and answering machine functions, sold primarily to manufacturers of notebook computers. Also included is a line of network multiplexers which carry terminal, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. , voice and fax traffic between a company's branch and headquarters offices, over a broad range of wide area communications speeds and services. These networking products are sold through distributors, resellers, and systems integrators through out the world. The company is also developing a line of products for the telecommuter A person who telecommutes. See telecommuting. market that employ the company's modem and multiplexer technologies to allow the telecommuter access to the corporate LAN, intranet, voice and fax services. The products will provide the telecommuter with much of the functionality of three dedicated phone lines -- one each for voice, fax and data transmission -- over a single standard telephone connection. About Imperial Bank With $3.3 billion in assets, Imperial Bank is one of the leading independent business banks in the West, offering a wide range of sophisticated 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. The bank has more than 30 years experience exclusively serving the middle market and is active in emerging growth technology, biotechnology, manufacturing and distribution, health care, entertainment, apparel and textile, cash management services, merchant card transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , international trade and foreign exchange services, trust and custodial services and investment planning. Imperial Bank is the principal subsidiary of Imperial Bancorp (Nasdaq NM-IBAN) (http://www.imperialbank.com). For more information about DATA RACE, please visit the company's web site at http://www.datarace.com. -0- NOTE: DATA RACE and the DATA RACE logo are trademarks of DATA RACE, Inc. registered in the U.S. Patent and Trademark Office. CONTACT: DATA RACE Inc. Greg Skalla, 210/263-2208, gskalla@datarace.com. |
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