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Seagull Holding N.V.

Seagull Holding N.V.

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Publicatie datum 25 jan 2007 - 18:16
Statutaire naam Seagull Holding N.V.
Titel SVB Silicon Valley Bank Increases Seagull Software Line of Credit to $4 Million
Bericht SVB Silicon Valley Bank Increases Seagull Software Line of Credit to $4 Million ATLANTA –- 25 January 2007 – Seagull Software (AEX: SEAGULL) announced that tech-sector leader SVB Silicon Valley Bank has extended to the company a $4 million revolving line of credit for general corporate purposes in support of Seagull Software’s business plans. This new credit facility replaces a $2 million working capital line of credit established in 2004. The company has not utilized either line of credit to date, but is very pleased to have this resource at its disposal as organic and external business investment opportunities emerge. “Silicon Valley Bank is one of the top financial institutions for the technology sector and they have been an excellent financial partner to Seagull Software for almost three years,” said Don Addington, CEO and president for Seagull Software. “They have a clear understanding of the fast-paced tech environment and have provided us with ready access to capital so that we can react quickly to emerging opportunities”, he added. Seagull Software specializes in technology that transforms “legacy” applications into SOA-compliant Web services, helping enterprises achieve faster IT support for business change, governance and compliance. The LegaSuite® software platform includes integration, GUI, workflow and terminal emulation technology. LegaSuite is based on open standards including Web services, XML, J2EE and .NET. Committed to providing the best customer experience in the industry, Seagull Software’s technology is in use in more than 10,000 business and government organizations in over 30 countries worldwide, and by millions of end users. “With a relevant product portfolio and guided by a highly talented and experienced management team, Seagull Software is well-poised for success,” said Nathan Ottinger, senior relationship manager for SVB Silicon Valley Bank. “We focus on providing emerging and established growth companies like Seagull Sof

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