$5 Million Line of Credit Obtained from Silicon Valley Bank
April 01, 2010
Capital to be used for potential acquisitions and general working capital
Woburn, MA April 1, 2010 – Bridgeline Digital, Inc. (NASDAQ: BLIN), a developer of unified web application management software and award-winning interactive technology solutions, announced today that it has entered into a Loan and Security Agreement with Silicon Valley Bank for a $5 million line of credit. The Agreement has a two year term and provides for up to $3 million of borrowings for strategic acquisitions and up to $5 million of borrowings for working capital purposes. The Agreement replaces Bridgeline Digital’s existing line of credit with Silicon Valley Bank.
About Bridgeline Digital
Bridgeline Digital is a developer of web application management software and award-winning interactive business technology solutions that help organizations optimize business processes. The iAPPS Product Suite is an innovative SaaS solution that unifies Content Management, Analytics, eCommerce, and eMarketing capabilities – enabling business users to swiftly enhance and optimize the value of their web properties.Combined with award-winning interactive technology services by Microsoft Gold Certified development teams, Bridgeline helps customers to cost-effectively maximize the value of their rapidly changing web applications. Bridgeline's teams of developers specialize in web application development, usability engineering, SharePoint development, rich media development, and search engine optimization.
Bridgeline Digital is headquartered near Boston with additional locations in Atlanta, Chicago, Cleveland, Denver, New York, Washington, D.C., and Bangalore, India. Bridgeline currently has over 600 customers ranging from middle market organizations to divisions within Fortune 1,000 companies that include: Healthcore, The Bank of New York Mellon, Marriott International, Berkshire Life, PODS, Honeywell, Budget Rental Car, Washington Redskins, AARP, National Financial Partners, The Packard Foundation, DTCC, Cadaret, Grant & Co., National Insurance Crime Bureau, the American Academy of Pediatrics, and Shaw Industries (a Berkshire Hathaway company). To learn more about Bridgeline, please visit www.bridgelinedigital.com.
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