News blog
SerVision
- BY: Andrew Hore |
- POSTED: 27/07/2007 |
Remote video surveillance products designer SerVision is raising around £560,000 to provide it with additional working capital.
SerVision is winning new business and it makes sense for it to raise cash to help finance the growth in the business. It is raising £515,000 at 30p a share and a further $100,000 from an overseas private investor at the equivalent of 30p a share. Net debt was £518,000 at the end of December 2006.
Earlier in July SerVision announced that it is planning to set up a joint 3G video business service with a subsidiary of Orange in Israel. SerVision’s HVG 400 products will be part of the package that Orange will sell in Israel.
SerVision also signed a contract with Graphic Image Technologies in South Africa which should be worth at least $600,000 in its first full year.
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