|[November 07, 2007]
Aequitas Closes $2.8M Funding for Syncronex
PORTLAND, Ore. --(Business Wire)-- Aequitas Capital Management has provided $2.825 million in funding to Syncronex, Inc. to acquire the assets of its largest competitor, the Print Media Division of Mobile Computing Corporation.
Syncronex is an enterprise software company that provides field service automation software to the publishing industry. Syncronex software improves mobile workforce productivity by simplifying communication procedures and integrating enterprise data.
"In the fiercely competitive publishing industry, Syncronex has equipped forward-thinking publishing companies with mobile workforce automation solutions that make their clients more agile and responsive," said Brian Oliver, senior managing director at Aequitas Capital. "And Aequitas Capital is pleased to provide financing to an exceptional middle market company like Syncronex as they prepare to make this acquisition."
The acquisition will create the leading provider of mobile workforce automation solutions to the publishing industry.
"The team at Aequitas is very creative and was able to find a financing solution that was flexible enough to meet our unique needs," stated Mike Pirello, President of Syncronex.
Aequitas Capital is also syndicating a $400,000 line of credit for working capital for Syncronex.
About Aequitas Capital Management
Established in 1993, Aequitas Capital is an innovative and socially conscious alternative asset management firm providing equity, debt and mezzanine solutions to the middle market, healthcare and energy sectors. For more information, visit www.aequitascapital.com or call (503) 419-3500.
About Syncronex, Inc.
Established in 1997, Syncronex, Inc. is an enterprise software company that provides field service automation software to the publishing industry. Syncronex software improves mobile workforce productivity by simplifying communication procedures and integrating enterprise data. Companies using Syncronex Newspaper solutions increase circulation, improve customer service, and lower operating expenses with a low total cost of ownership solution. Syncronex is headquartered in Bellevue, WA. For more information call (877) 796-2766 or visit www.syncronex.com.
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