Wi2Wi Corporation, a leader in wireless SiPs (System-in-a-Package), modules, and subsystem solutions for consumer and business embedded markets worldwide, with a focus on 802.11 (Wi-Fi), Bluetooth, and GPS, is pleased to announce that it has entered into a credit facility with Bridge Bank N.A., a subsidiary of Bridge Capital Holdings (NASDAQ:BBNK).
“This credit facility further empowers Wi2Wi, accelerating our working capital cycle, supporting the substantial growth and momentum in our revenue and design wins, and enhancing our production ramp-up world-wide,” said Wi2Wi CEO Dr. Reza Ahy. Ahy added, “Bridge Bank is a dynamic partner for Wi2Wi, and this growth-focused credit facility will add additional momentum to Wi2Wi’s expansion. We look forward to a long and winning partnership with Bridge Bank.”
The credit facility is secured by Wi2Wi’s outstanding receivables and will be reviewed for further expansion on a quarterly basis. “We are quite excited about Wi2Wi’s significant growth over the past two years and its tremendous presence and potential in the multibillion dollar global market for embedded wireless solutions,” said Ed Lambert, Senior Vice President at Bridge Bank. “Bridge Bank is enthusiastically looking forward to growing our partnership with Wi2Wi.”
Wi2Wi just completed another record revenue quarter ending in December 2009, with a large number of design wins in the Americas, Asia, and EMEA markets.
About Wi2Wi Inc.
Wi2Wi Inc. is a premier supplier of 802.11, Bluetooth, GPS, and combination wireless solutions and supplies Module, System-in-Package (SiP), and subsystem wireless products to MID, UMPC, industrial, consumer, medical, defense, and peripheral OEMs. Headquartered in San Jose, California, Wi2Wi provides leading-edge wireless solution for embedded applications with substantial savings on time-to-market, cost, and system integration. For more information, visit www.wi2wi.com.
About Bridge Bank, N.A. and Bridge Capital Holdings
Bridge Bank, N.A. is Silicon Valley’s full-service professional business bank. The bank is dedicated to meeting the financial needs of small, middle-market, and emerging technology businesses. It provides a comprehensive package of business banking solutions delivered through experienced, professional bankers. Bridge Bank is a subsidiary of Bridge Capital Holdings, which holds a Global Select listing on The NASDAQ Stock Market under the trading symbol “BBNK.” For more information, visit www.bridgebank.com.