Thursday, June 1, 2006

SkyeTek Gets $2.5M Credit Facility

Westminster, Colorado-based SkyeTek, a developer of embedded RFID readers, said today that it has received a $2.5M credit facility from Square 1 Bank. The firm also said that it has expanded its marketing and sales operations, hiring new VPs in Marketing and Sales. SkyeTek said it has hired Martin Payne as VP of Marketing and Strategy, and earlier this year hired Chris R. Turner as EVP of Sales and Business Development. Payne joins from Sun Microsystems, StorageTek, and Dell. SkyeTek is backed by Appian Ventures, Palomar Ventures, and Sequel Venture Partners.