SKYRIVER COMMUNICATIONS ANNOUNCES FINANCING AGREEMENT WITH COMERICA BANK
San Diego, February 5, 2007 - Skyriver Communications, Inc., Southern California’s leading wireless broadband
communications company, announced today that it has entered into a financing
agreement with Comerica Bank.The
agreement provides for both a working capital line of credit and equipment
financing line.Specific details of the
financing agreement were not disclosed.Skyriver
will use the proceeds from the financing to aggressively grow its business
organically through further expansion of its network footprint into areas of Los Angeles and Orange
County complemented by
upgrade of its current network with next generation WiMAX technology.Further, Skyriver will be aggressively
pursuing inorganic growth strategies including targeted acquisitions.
"Comerica Bank's Technology & Life Sciences
Division has extensive experience in providing innovative financing to growing
companies like Skyriver," said Steve Stuckey, Regional Managing Director,
Technology & Life Sciences Division. "We are extremely pleased
to be able to work with Skyriver, and we look forward to expanding our
relationship as it grows."
Adam Gickling, CFO of Skyriver stated, “Comerica
has proven time and again that it understands the challenges that early stage
technology companies face.It is further
validation of our business model that Comerica sees the compelling value
proposition that Skyriver offers.With a
strong financing partner like Comerica in place, we can accelerate our growth
and continue to offer new and more compelling services to the marketplace.”
About Skyriver Communications
Headquartered in San
Diego CA, Skyriver
Communications is an innovative of connectivity services provider offering a
complete set of converged communication solutions to the enterprise,
small-medium business, and hospitality markets.Through its trusted and reliable wireless broadband, hotspot, business
continuity, IT services, and ISP offerings, Skyriver is uniquely qualified to
meet the full spectrum of mission critical connectivity, implementation and
support needs of today’s fast paced communications environment.For more information about Skyriver
Communications, please visit www.skyriver.net.