Sopheon plc (“Sopheon” or “the Group”) announces that it has concluded new debt facilities with Silicon Valley Bank (“SVB”), a highly respected technology focused banking organisation. The new facilities introduce $3.5 million of working capital capacity into the Group.

The new facilities provided by SVB comprise a term loan of $0.5m, and a $3m revolving line of credit secured on US and UK receivables. These facilities are secured through debentures in the UK and UCC filings in the USA. Interest rates are subject to certain working capital ratios and are substantially lower than those of the facilities they replace, reflecting the growing maturity of the Sopheon business.

Sopheon’s CFO Arif Karimjee said, “We have always seen SVB as a premier financial partner to innovative businesses. Our US operations have banked with SVB for over ten years, and it was therefore a natural step for Sopheon to turn to this highly respected institution to be our debt partner as we grow into our next phase of development. It is terrific to be working with SVB’s London operation as well as with our existing relationships through the US, giving us a truly international partnership.”

Kristi Oliver, Vice President at Silicon Valley Bank’s UK Branch added: “We are thrilled to be working with Sopheon in the UK. Sopheon works with some of the biggest and best known businesses, providing them with world class innovation solutions. Silicon Valley Bank has been supporting technology businesses for nearly 30 years and is dedicated to helping businesses like Sopheon succeed. The only bank dedicated to the innovation sector in the UK, SVB has grown its client base significantly since opening the branch in June 2012.”

For further information contact:

Barry Mence, Chairman Sopheon plc + 44 (0) 1483 685 735
Arif Karimjee, CFO Sopheon plc + 44 (0) 1483 685 735
Charlotte Stranner / Victoria Bates finnCap + 44 (0) 20 7600 1658
Heather Armstrong Newgate Threadneedle + 44 (0) 20 7653 9842
Claire Verhagen Citigate First Financial + 31 (0) 205 754 010

About Sopheon. Sopheon (LSE: SPE) partners with customers to provide complete Enterprise Innovation Performance solutions including software, expertise, and best-practices to achieve exceptional long-term revenue growth and profitability. Sopheon’s Accolade® solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle. For the first time, businesses can access a single source of the truth across strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon’s solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Alternext Exchange in the Netherlands.

About Silicon Valley Bank. Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB Financial Group provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) Silicon Valley Bank is authorised and regulated by the California Department of Financial Institutions and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

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