SOTAS Receives $5 Million Working Capital Line From Comerica.Business Editors GAITHERSBURG, Md. & RESTON, Va.--(BUSINESS WIRE)--April 22, 2002 SOTAS SOTAS Standoff Target Acquisition & Surveillance SOTAS Standoff Target Acquisition System , Inc., a global provider of real-time, business management solutions to telecommunications providers and large telecommunications service In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. users, and 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 Comerica's Technology and Life Sciences Division has provided the Gaithersburg company with a $5 million working capital line of credit. "SOTAS is an excellent addition to our customer portfolio, given its strong track record of assisting the world's telephone companies in verifying, measuring and optimizing all aspects of their business performance," said April Young, senior vice president and managing director of Comerica's Mid-Atlantic Technology and Life Sciences Division. "SOTAS is one of many companies developing compelling technologies that will benefit from creative financing solutions." SOTAS has helped telecommunications providers monitor and manage the integrity and quality of service of their networks for more than a decade. The company's unique software solutions include fraud control and management, billing verification, traffic analysis, network performance, least cost routing A feature of a telephone system that automatically connects an outgoing telephone call with the telephone service that costs the least to that location at that time of day. Depending on how it is programmed, least cost routing will either drop down to the second most-efficient service if , quality of service and trouble ticket reduction. SOTAS's majority shareholder is Safeguard Scientifics, Inc. (NYSE:SFE See Sydney Futures Exchange. ), a Comerica client that focuses on building and operating business and IT services, software and emerging technology companies. "We are pleased that our introduction of SOTAS to Comerica has worked out so well for both parties," said Anthony Craig, Safeguard's 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. . "SOTAS has compelling technology and fits our software strategy to create value by leveraging our operating experience to build successful companies." "Safeguard continues to provide SOTAS with strong support, which we believe is one of the reasons Comerica chose to provide us with this line of credit," said Rick Roth, SOTAS's CFO See Chief Financial Officer. . "As our customer base continues to grow, we value the expertise these organizations provide to assist us in facing new challenges." About SOTAS, Inc. SOTAS, Inc. -- a Safeguard Scientifics, Inc. (NYSE:SFE) partner company -- provides applications-level software and hardware systems that empower service providers to run profitable networks and serve their customers by presenting the right information, at the right time, to the right decision makers. SOTAS' advanced portfolio of analog and digital intrusive testing systems and data management and reporting systems help customers unlock the full strategic potential of their networks. With headquarters in Gaithersburg, Md., USA, and offices in Bristol, England and New Delhi, India, SOTAS serves service providers around the globe, including AT&T, BellSouth, Broadwing, BT, Cable & Wireless, Cignal, Concert, Interoute, Korea Telecom, Lucent, Maxcom, WorldCom, Nortel, Quest, SITA, Sprint, Telcordia, Teleglobe, TELUS TELUS Telemetric Universal Sensor , Verizon and Williams. For more information about SOTAS, visit the company's web site at www.sotas.com. About Safeguard Safeguard Scientifics (NYSE:SFE) is an operating company operating company A business that engages in transactions with outsiders. that creates long-term value by focusing on technology-related companies that are developed through superior operations and management support. Safeguard acquires and operates companies in three principal areas: business and IT services, software and emerging technologies. For more information, please visit www.safeguard.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 the 17th largest banking company in the nation, with $50 billion in assets. For more information, visit www.comerica.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion