Business Services Industry
Comerica Bank Commits $5 Million Line of Credit to ETI; ETI Plans to Expand Sales and Marketing Efforts with New Comerica Bank Partner
Business Wire, July 6, 2006
AUSTIN, Texas -- ETI (Evolutionary Technologies International, Inc.), a global provider of data integration solutions, signed a new $5 million line of credit with Comerica Bank (NYSE:CMA). This agreement establishes Comerica as the company's primary banking partner.
The line of credit agreement will provide flexibility as ETI expands both domestic and international sales and marketing, as well as potentially aid in acquiring complementary technologies and companies in the data integration sector.
"Comerica Bank's Technology & Life Sciences Division has extensive experience in providing innovative financing to growing companies like ETI," said Tim Klitch, Austin Market President and Managing Director/Texas, Technology & Life Sciences Division. "We are extremely pleased to be able to work with ETI, and we look forward to expanding our relationship as it grows."
"This commitment from Comerica adds to our financial strength and provides flexibility to the funding of our growth strategy," says Ron Baker, president and CEO, ETI. "The marketplace is recognizing the strengths of ETI's technology and customer experience and we welcome Comerica to the ETI team."
ETI products provide high performance data integration capabilities for data synchronization and migration and for composite data services for SOA initiatives. As a complement to ETL, EAI, SOA and data warehousing technologies, ETI's data integration platform extends the value of IT investments by providing high performance connectivity and transformations as organizations combine legacy and proprietary data sources with current technologies.
About Comerica Bank's Technology & Life Sciences Division
Comerica Bank's Technology & 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. The Technology & Life Sciences Division serves all major U.S. technology centers, including Austin, from offices coast-to-coast. Comerica Bank is a subsidiary of Comerica Incorporated (NYSE:CMA), a financial services company headquartered in Detroit and among the 20 largest U.S. banking companies, with $56.4 billion in assets at March 31, 2006.
About ETI
ETI is a global provider of enterprise data integration solutions for government IT organizations and Global 1000 companies, providing software and services that automate the seamless exchange of data between incompatible systems. Organizations around the world rely on ETI to implement applications ranging from SOA, ETL, EAI, EII, CRM, ERP, compliance reporting, and data warehousing. Founded in 1991, ETI is based in Austin, Texas with additional offices in the United States, Canada, Europe and Australia. For more information visit www.eti.com.
Evolutionary Technologies International, the ETI logo, ETI, ETI Solution, MetaStore, Dialogue Coach and AnswerLink are trademarks or registered trademarks of Evolutionary Technologies International, Inc. Software and/or information encodings included in ETI Solution are subject to the following U.S. Patent(s): 6,523,172. All other company and product names may be trademarks or registered trademarks of their respective owners.
(C) 2006 Evolutionary Technologies International, Inc.
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