Tysons Corner and Reston, VA/July 1, 2002 - Comerica (NYSE: CMA), a leading financial services company, and netDecide Corporation, a leading developer of web-based wealth management systems for the financial services industry, announced today that Comerica’s Technology and Life Sciences Division has provided the Tysons Corner company with a $2.75 million revolving line of credit. The funds will be used for general working capital.
"netDecide is a great addition to our portfolio and we look forward to a long relationship with this innovative company," said April Young, senior vice president and managing director of Comerica’s Mid-Atlantic Technology and Life Sciences Division. "We consider ourselves technology specialists and we are committed to working with the most promising companies in this region, both those that are just emerging and others that are more established."
netDecide provides financial service firms with enterprise-wide wealth management software, facilitating their ability to deliver advice profitably to their clients. The company’s award-winning technology allows users to answer day-to-day questions, create baseline plans and deliver comprehensive plans that encompass complex wealth management strategies.
"We place great value on working with a financial institution that understands the challenges technology companies face and has the ability to respond appropriately," said John Calnan, netDecide’s CFO. "We have found that in Comerica, which is also a bank that has the resources to meet our needs as we grow."
About netDecide
netDecide Corporation provides financial services institutions with the platform to help their clients, from emerging affluent to ultra-high net worth, intelligently manage wealth. The solution drives down the time and cost to deliver financial advice and focuses on the key business drivers of a financial institution - asset growth and advisor productivity. netDecide's customers include firms such as Bank of America, Legg Mason Wood Walker, Robert W. Baird, and Morgan Keegan . Based in Tysons Corner, Virginia, netDecide was established in 1996 and is a privately held corporation.
About Comerica’s Technology and Life Sciences Division
Comerica’s Technology and 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. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica’s Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $50 billion in assets.
Media Contacts:
Charlotte Pelliccia
netDecide Corp.
(571) 633-6064
charlotte.pelliccia@netdecide.com
or
Adrienne Moch
Pacifico (for Comerica’s Technology and Life Sciences Division)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank-California
(408) 556-5111
keith_turner@comerica.com
