Veroxity Establishes Credit Facility With Webster Bank to Drive Growth
Veroxity Technology Partners announces $14 million credit facility with Webster Bank
Veroxity Technology Partners, LLC, a premier service provider of fiber optic network solutions, today announced that it has selected Webster Bank, N.A. (NYSE:WBS) as its banking credit provider. The $14 million credit line will provide Veroxity with capital to drive growth with additional investments to support existing customers, expand into new markets and extend service offerings. The facility is structured to provide Veroxity with the flexibility to make long-term, value-based decisions in support of these initiatives.
With 181 banking offices, including 18 in Massachusetts, Webster Bank is a natural partner for Veroxity. With a strong knowledge of the local market, as well as knowledge and expertise in the data communications and media space, Webster Bank will serve as Veroxity's primary banking partner.
'The establishment of Webster Bank as a new credit provider will give Veroxity the flexibility to make critical investments in support of our plans for growth,' said Eric Sandman, CEO of Veroxity Technology Partners. 'Since Webster Bank is interested in spurring development in the local and regional markets, they are a great fit for a growing company such as Veroxity.'
'We are very pleased that Veroxity has selected us,' said Robert Twomey, president of the Massachusetts/Rhode Island region of Webster Bank. 'Veroxity is clearly a leader in the data communications space within the Northeast. We look forward to a partnership that will help them with their continuing growth and success.'
About Veroxity Technology Partners
Veroxity Technology Partners delivers diverse data transport and Internet solutions to connect your business from end-to-end. Through The Veroxity Network(TM) and our unique Dual POP Architecture, Veroxity's communications services connect multiple locations, enable online commerce and support organizational growth. Veroxity's solutions include Ethernet Private Line Service, Flexible Any-to-Any Ethernet Service, Dedicated Private Line Service, Wavelength Service, Managed SONET Ring Service and Internet Connectivity. Veroxity is headquartered in Bedford, MA. For more information about Veroxity Technology Partners, please visit www.veroxity.com or call (617) 848-3000.
About Webster Bank
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $17.3 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 181 banking offices, 492 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corp., Center Capital Corporation, an equipment finance company headquartered in Farmington, Conn., and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websteronline.com.
Source: Veroxity Technology Partners, LLC
CONTACT: Renay M. Picard of Veroxity Technology Partners, LLC,
+1-617-848-3089, email@example.com; or Brenda Farrell of Webster Bank,
N.A., +1-508-235-1516, firstname.lastname@example.org
Web Site: http://www.veroxity.com/