Mar 18, 2015

Picochip Successfully Completes $9 Million Debt Facility with Silicon Valley Bank   November 18, 2010 New financing enables Picochip to accelerate growth Santa Clara,Calif, London and Bath –– PicochipLimited (‘Picochip’), a leading supplier of femtocell technology and silicon,has successfully completed a new $9.0 million debt facility with Silicon Valley Bank , the commercial banking division ofSVB Financial Group (Nasdaq: SIVB) and financial partner to technologycompanies worldwide. The facility consists of a $4.0 million three-yearterm loan and a two-year $5.0 million working capital line of credit. Thecombined facility will provide Picochip with access to additional workingcapital to support the Company’s growth strategy. “Picochip is constantly drivingto develop and commercialise innovative approaches to mobile voice and dataservices, with femtocells deploying and LTE following. We believe this debtfacility will serve as a solid foundation for our rapid growth, providing uswith the financial flexibility needed in order to stay ahead of the curve,”commented Nigel Toon, CEO of Picochip. “We have had a strong relationship with SiliconValley Bank since 2004; they understand our business and we are delighted with theconfidence the team has demonstrated in our operations and product capabilities.”   Backedby Atlas, Highland, Intel, SEP, Pond and Rothschild, Picochip was the first companyto launch a femtocell chip and has maintained its leading position in themarket through a unique blend of evolving capabilities including silicondesign, wireless tools, software and systems integration. “Picochipis an exceptional business with a market leading position within the globalfemtocell market,” added Phil Cox, Head of UK, Europe and Israel for SiliconValley Bank. “We are excited about strengthening our relationship with the teamand are delighted that our deep industry knowledge and sector expertise complimentPicochip as it continues to execute against its ambitious business goals.”   Separately, Picochip has announcedsignificant expansion in its worldwide operations. The company has moved to anew headquarters and engineering center in its home city of Bath, acquired anadvanced test laboratory in Cambridge, UK, and announced plans to double thesize of its development centre in Beijing, China. SVB Financial Group has had anoffice in London since 2004, and Silicon Valley Bank has been providing loansto UK-based technology and life science companies of all stagesof their development from business start-up to major companies in thesector. SVB Financial Group UK Ltd.provides access to financial services as well as SVB’s worldwide network ofventure capitalists and partners. SVB Financial Group UK aims to give Europeantechnology, life science companies and venture capital investors access to thesame targeted financial services as their U.S.-based counterparts, includingsources of diverse debt capital such as venture debt, acquisition financing,working capital, capital call lines, growth capital and capex financing. Inaddition, the UK team offers access to foreign exchanges services, tradefinance and U.S. banking for subsidiaries. About Silicon Valley Bank  Silicon Valley Bank providescommercial bankingservices toemerging growth and mature companies in the technology, life science, privateequity and premium wine industries. Through its focus on specialized marketsand extensive knowledge of the people and business issues driving them, SiliconValley Bank provides a level of service and partnership that measurably impactsits clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif.,the company serves clients around the world through 26 U.S. offices and fiveinternational operations. Silicon Valley Bank is a member of global financialservices firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVBCapital, SVB Global and SVB Private Client Services. More information on the company can be foundat www.svb.com . About Picochip Picochip is enabling the next generation of wireless infrastructure. Its picoXcell™ family of optimized silicondevices is the leader in the fast growing market for femtocell accesspoints. Its picoArray™ family offlexible wireless processors is the leading solution for OFDMA-based networkequipment, and is backed by comprehensive software support for global standardssuch as EDGE, HSPA, HSPA+, TD-SCDMA, WiMAX, LTE, cdma2000 and GSM. Located in Bath, UK and Beijing, China, Picochipis re-shaping mobile networks. For more information, visit www.picochip.com