Thursday, November 8, 2007

Syncronex Gets $2.8M in Funding from Aequitas

Syncronex Inc., a developer of field service automation software for the publishing industry, has secured $2.825 million in venture financing from Aequitas Capital Management, Aequitas reported Wednesday. Aequitas said the Bellevue, Wash.-based company will use the money to acquire the assets of its largest competitor, Mobile Computing Corp.'s Print Media Division. The pending acquisition, Aequitas noted, should result in one of the publishing industry's largest mobile workforce automation software developers. Aequitas added that it is also authorizing a $400,000 line of credit to Syncronex for working capital. Syncronex was founded in 1997. Headquartered in Portland, Ore., Aequitas Capital Management was established in 1993. More information »