TORONTO, Feb. 13 /CNW/ - Wellington Financial LP, a privately held
specialty finance firm, today announced a $2 million venture debt financing
for Impact Mobile Inc. ("Impact Mobile"), a North American leader in mobile
media solutions. Proceeds from the financing will be used for further U.S.
expansion and to add to the Impact Mobile team, headquartered in Toronto.
"Cell phones and other mobile devices are increasingly providing an
anytime, anywhere channel to communicate to consumers," said Mark Usher,
Partner at Wellington Financial. "Impact Mobile provides technology and
capabilities to a number of world class media companies to help them monetize
this channel and our True Growth Capital will help to accelerate their
Impact Mobile's JumpTXT(TM) suite of applications provide brands and
media companies with the mobile technology necessary to connect with their
target audiences and to allow their traditional media (print, broadcast,
out-of-home, online banners and live event) to become interactive and help
drive this audience to point-of-sale, web and into future customer
relationship management opportunities (CRM).
"Impact Mobile's technology allows our clients to reach their target
market in a number of innovative ways while giving the client the
measurability that is missing from traditional media. The financing will allow
Impact Mobile to accelerate the introduction of new applications to the
market, and to increase our resources to handle the growth in our business,"
said Gary Schwartz, CEO of Impact Mobile.
LaBarge Weinstein LLP and Cognition LLP provided legal advice for this
Wellington Financial LP is currently managing a $400 million investment
program via Wellington Financial Fund III. Since Fund III began operation in
September 2006, Wellington Financial LP has led more than $125 million of
transactions, making it the most active fund of its kind in Canada.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit, term, venture and amortizing loans up to
$40 million. Wellington Financial LP is currently deploying a $400 million
investment program via its third fund. The fund's clients vary in size and
business model, but generally have current year revenue of approximately
$5 million. Wellington Financial LP is managed by a partnership controlled by
fund management and Clairvest Group Inc. (CVG:TSX), who jointly have
contributed a large financial stake to Fund III. Limited partners include
several of Canada's largest institutional investors, crown corporations,
financial institutions and pension funds. Please visit the fund website at
www.wellingtonfund.com, or the Wellington Financial team blog at
About Impact Mobile
Impact Mobile provides wireless marketing solutions to global brands,
agencies, and wireless carriers via its proprietary JumpTXT(TM) platforms and
applications. Impact Mobile also works with music, sports, and other
entertainment partners to provide custom interactive marketing applications.
Impact mobile has carrier connections throughout North America as well as a
network of worldwide aggregation partners. The company was recently ranked as
the fifth fastest growing Canadian Technology Company in 2007 by Deloitte.
Impact Mobile is a privately held company and headquartered in Toronto,
Ontario, with US operations in New York, NY, Richmond, VA, and Los Angeles,
CA. For more information on Impact Mobile, please visit www.impactmobile.com.
For further information:
For further information: Amy Olah, Marketing Manager, Wellington
Financial LP, Tel: (416) 682-6002, firstname.lastname@example.org