Wednesday, June 18, 2008
$66 Million to Velocita Wireless From Factoring Company to Support Acquisition of SkyTel
Factoring Company Provides $66 Million Factoring Facility to Velocita Wireless to Support Acquisition of SkyTel, from Bell Industries, Inc.
A leading factoring company, has signed an agreement to provide a $66 million accounts receivable factoring facility to a leading provider of wireless data services. The accounts receivable factoring facility was a key element of the funding package which enabled the New Jersey based network operator to complete the acquisition of a complimentary wireless technology business, providing nationwide wireless data and messaging services. At a time when borrowing facilities are extremely difficult to negotiate Platinum distinguished themselves with their speed of decision, flexibility and willingness to work to get the deal done.
New York, NY - June 17, 2008 -- Platinum Funding Group, a leading factoring company, has signed an agreement to provide a $66 million accounts receivable factoring facility to a leading provider of wireless data services. The accounts receivable factoring facility was a key element of the funding package which enabled the New Jersey based network operator to complete the acquisition of a complimentary wireless technology business, providing nationwide wireless data and messaging services.
Factoring
With its headquarters in New Jersey, this national wireless network operator focuses on the M2M market. The company offers wireless data machine-to-machine (M2M) products including automatic vehicle location (AVL), telematics, point-of-sale, security and energy solutions to enterprise and government customers. Its network operates in 50 states covering 93 percent of all U.S. businesses and 220 million people.
The accounts receivable factoring facility provided by Platinum Funding Group will also assist the combined entity to consolidate its position as one of the leading M2M providers in the U.S. providing comprehensive, reliable and secure communication solutions.
"Platinum's ability to think outside the box, and find creative solutions for complicated transactions is a necessity in the current financial environment," said Eyal Levy, founder and CEO of Platinum Funding Group. "Platinum's assistance in several acquisitions lately, when liquidity is limited, makes us an attractive instrument for investment banks, private equity and venture capital firms."
Russell Backhouse, the CFO who co-ordinated the transaction with Platinum added, "At a time when borrowing facilities are extremely difficult to negotiate Platinum distinguished themselves with their speed of decision, flexibility and willingness to work to get the deal done."
Mark Hull, CEO said, "This acquisition clearly benefits all of our customers as together we are an even stronger company with a long-term commitment to messaging, data and the M2M market."
About Platinum Funding Group:
Platinum Funding Group, a leading factoring company, provides clients with accounts receivable financing, purchase order financing, letters of credit, bridge funding, and accounts receivable management. Established in 1992, the factoring company has been consistently assisting companies with annual sales revenue between $1 million and $150 million. Platinum provides premier factoring services and possessions the financial resources to serve the needs of its invoice factoring clients across more than 30 industries, issuing same day advances on accounts receivable to early-stage companies, fast growing firms, and companies in Chapter 11. Platinum Funding Group is headquartered in New York City and has regional offices throughout the U.S.
Platinum Funding UK Limited commenced operations out of its United Kingdom office in the spring of 2008. Through its UK affiliate, Platinum Funding Group has expanded its services to include purchases of international receivables, with a focus on the European market.
By SEO Factor.
CONTACT INFORMATION
Danielle Lacombe
Platinum Funding Group
646-315-7200
Cobi babchuk
Platinum Funding UK Limited
646-315-7200
Wednesday, June 4, 2008
Small Business Hosted VOIP Telephone System Launched by Voice Technologies
Kinetech Voice Technologies has launched its "Managed Business Communications Service", or MBCS, for the Small and Medium Size Business Market. MBCS is a fully managed, carrier grade, full featured business class telephone service. The entire system is managed and monitored 24 hours a day, 365 days per year. Small business can now hand off complete responsibility for their communications system to one service provider, who is ultimately responsible for managing the complete customer Quality of Experience- telephone service, network, broadband connection, maintenance, and equipment.
Yorktown Heights, New York - April 10, 2008 -- Kinetech Voice Technologies has launched its "Managed Business Communications Service", or MBCS, for the Small and Medium Size Business Market.
MBCS is a fully managed, carrier grade, full featured business class telephone service. With MBCS, the telephony and communications applications are running on both the provider's central "core" network equipment as well as on special purpose built equipment at the customer premise. Unlike pure Hosted VOIP solutions, the entire system- from the service provider's core equipment to the telephone handset, is managed and monitored 24 hours a day, 365 days per year. Complete equipment and service management, maintenance, guaranteed Quality of Service, Business Continuity, and Disaster Recovery, is fully supported.
"The benefits to the small business are significant- they hand off complete responsibility for their communications system to one service provider, who is ultimately responsible for managing the complete customer Quality of Experience- telephone service, network, broadband connection, maintenance,and equipment", said Tom Cerabona, President/ CEO. "One stop shopping and accountability is provided for all of a small business's communications needs".
MBCS provides feature rich telephone services including PBX and Key System Configurations, Auto Attendant, Voicemail, Conferencing, Multi-Site Support, Mobile Worker Support, Flat rate all inclusive pricing, and Office Productivity Tool Integrations(Outlook, CRM).
To read the White Paper "Managed Business Communications Services"- The real "Killer APP" for the Small Business, and to learn more about MBCS, visit the Kinetech website at: www.kinetechvoice.com/tech_resources.htm
About Kinetech
KINETECH Voice Technologies provides consulting, selection, and implementation of Voice Over IP technologies and telephone systems to Small to Mid Size Businesses to satisfy their current and future business communications needs. Kinetech's services include current system analysis, architecture, design, equipment and service provider selection, installation, test, and ongoing support. Contact Tom Cerabona, President/ CEO, at tomc @ kinetechvoice.com, and visit their website at www.kinetechvoice.com to learn more.
Press Contact: Thomas Cerabona
Company Name: Kinetech Voice Technologies, Inc.
Phone: 914-844-2724
Website: www.kinetechvoice.com
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