TouchStar Selects SVB Silicon Valley Bank for Acquisition Financing
SVB Silicon Valley Bank supplies TouchStar with financing acquisition and growth.
Denver, CO (PRWEB) January 31, 2008 -- TouchStar, a rapidly growing world leader in call center and unified communications technology, today announces its receipt of acquisition and growth financing from SVB Silicon Valley Bank.
TouchStar specializes in unified communications, call center systems, VoIP enablement, and multi-language workflow applications. TouchStar will use the additional financing to acquire additional companies and to accelerate growth in the enterprise market and emerging international markets.
TouchStar is currently evaluating additional acquisitions of competitors and value added technology companies. TouchStar has acquired three competitors in the last three years.
TouchStar recently announced its new 2008 Enterprise Call Center System that is capable of being the multi-channel communications infrastructure for call centers with thousands of agents. TouchStar is a world leader in small and medium call center systems with one to hundreds of agents. TouchStar's ability to sell to the enterprise market increases its potential market size and significantly increases its potential average revenue per sale. TouchStar's new enterprise call center product also adds value to existing TouchStar call center technology clients.
TouchStar is also continuing to expand in emerging global markets such as South America, Eastern Europe, and Asia. Emerging market expansion is being achieved by actively adding resellers and through continued direct sales.
Shawn Suhrstedt, CFO of TouchStar, commented, "Among the commercial banks that wanted to do business with us, we chose Silicon Valley Bank because of their experience with rapidly growing technology companies. SVB stood out as the partner that could best support TouchStar's plan to surpass one hundred million dollars in revenue in two years. They have been extremely responsive and have demonstrated their understanding of the industry we are in."
SVB Silicon Valley Bank is the leading commercial bank lending to technology and life science companies. "TouchStar's performance and its growth opportunities within its market are promising," said Ryan Incorvaia , deal team leader from SVB Silicon Valley Bank's Colorado office. "We're proud to be TouchStar's financial partner and we look forward to providing the company the financial resources it needs to fuel its growth."
About Touchstar:
TouchStar develops and supports world class call center technology with on-site and hosted deployment options. TouchStar serves over 2,500 businesses on six continents from its headquarters in Denver, Colorado, and offices in New York, Phoenix, Davenport, Mumbai, Manila, Manchester, and Mexico City. TouchStar's unified communications products include: call center software, traditional and VoIP telecommunications hardware, predictive dialers, automated voice messaging, advanced ACD & IVR, compliance management, and an IP PBX phone system. For more information, please call 303.338.0678 or visit www.touchstar.com.
About SVB Silicon Valley Bank:
SVB Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its sophisticated treasury management, lending, investment and international services and its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and three international operations. SVB Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
SVB Silicon Valley Bank refers to Silicon Valley Bank, the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve.
Contact:
Brian Smits
Global Director of Marketing
TouchStar
303.338.0678 x.204
www.touchstar.com
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