San Francisco, Ca.- July, 1, 2014-ATEL Ventures Inc. (“ATEL”) is proud to announce that Silverpop, an ATEL Growth Capital portfolio company, was recently acquired by IBM.
Silverpop was provided an equipment financing credit line by ATEL, in which the terms of the loan agreement stipulated that Silverpop’s loan provide warrants permitting ATEL to acquire its stock.
“A leader within the digital marketing solution space, Silverpop embodies the type of business models and growth prospects we look for in every ATEL portfolio company,” said Steve Rea, Executive Vice President at ATEL. “The company’s acquisition by IBM further fuels the strong activity that we are experiencing this year within our Fund.”
Silverpop, an IBM company, is a software company whose products are focused on helping Marketers transform the “customer experience”, increasing engagement, and driving revenue. Silverpop makes this possible by using customer data and each individual's behaviors to inform and drive every interaction in real time. In addition to ATEL Ventures, the company is backed by a group of investors including Draper Fisher Jurvetson, NeoCarta Ventures, Labrador Ventures, Total Technology Ventures, DFJ-ePlanet and Gray Ventures.
About ATEL Ventures (www.atel.com/ventures) ATEL Capital Group formed ATEL Ventures, Inc. in 1999 to provide equipment financing and venture debt to emerging growth companies. Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. For information about ATEL Ventures, contact Steven Rea, Executive Vice President, 415-616-3436, srea@atel.com or visit our website at www.atel.com/ventures.
About ATEL Capital Group ATEL Capital Group is an international financial services company that for over 35 years has offered its clients a wide array of financial solutions including equipment leasing, asset-based lending, venture finance, lease administration and asset management. Since its inception, ATEL has sponsored sixteen publicly registered funds, as well as numerous private investment programs. ATEL's family of funds has attracted almost 50,000 investors since ATEL's first public program was created in 1986. Additional information about ATEL Capital Group can be found on the Company's web site at www.atel.com