NEWS5 April 2013

[X+1 ] gets debt facility

Financials North America

US — Digital marketing and data management software provider [x+1 ] has signed a new $17m debt facility with Ares Capital Corporation.

The company said the funds would be used to support [x+1 ]’s growth strategy of targeted acquisitions and overall market expansion. Details of the funding were not disclosed.

“We are in a very fortunate position here at [x+1 ],” said John Nardone, the company’s chief executive officer. “We have a wonderful base of clients, organic growth is strong and we are cash flow positive. This financing gives us additional resources to continue our strong forward momentum.”