Tecsys secures financing for growth
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The Canadian supply chain software technology provider TECSYS Inc. said Thursday it has completed a financing agreement of up to CAD$10 million with the National Bank of Canada to support
the company’s growth. The financing agreement also includes a five-year CAD$5 million term loan and CAD$5 million operating line of credit. “Over the last 18 months we have
experienced a significant increase in demand for our software and services resulting in the growth of our backlog, human resources and associated capital infrastructure,” said TECSYS
President and Chief Executive Officer Peter Brereton. “We have also accelerated our investments in R&D. The financing agreement we have just concluded will provide us with the added
liquidity necessary to take advantage of the current growth opportunity.” – Eric Johnson