DecisionPoint Systems (OTC:DNPI), a provider of Enterprise Mobility, Professional Services and RFID solutions, today announced that the Silicon Valley Bank has renewed the company's credit line for two years. The Company's credit facility now totals $13.0 million consisting of a $10.0 million line of credit and a $3.0 million term loan. The company's original 2010 credit facility of $8.5 million was increased to a total facility of $10.0 million in December, in order to provide funding for the acquisition of CMAC, Inc., which was completed on December 30, 2010. As I write, shares of DecisionPoint are flat at $0.42 per share and average about 53,000 shares traded per day. The Company has a market cap of $11 million and a 52-week range between $0.03 and $0.45 per share."The two year renewal and increase of our credit line is evidence of both the strength of our business model and expanding opportunities for growth. The imperative for a mobile solution continues to grow and DecisionPoint's proven enterprise solutions are in high demand. We thank Silicon Valley Bank for the support it is giving us to execute our growth plans," said Nicholas Toms, CEO of DecisionPoint.
DecisionPoint Systems delivers improved productivity and operational advantages to its clients by helping them move their business decision points closer to their customers. They do this by making enterprise software applications accessible to the front-line worker anytime, anywhere. DecisionPoint utilizes all the latest wireless, mobility, and RFID technologies.
For more information visit: http://www.decisionpt.com/news.php.
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