Geosign Group Holdings Inc. and Geosign Technologies Inc., members of the Geosign Group of Companies, have closed $160 million in private financing from American Capital Strategies Ltd.
Geosign is an Internet-media company focused on online publishing and targeted search.
“Geosign is already a leader in online publishing and specialized search,” said Ted Hastings, president of Geosign, Guelph, ON, Canada. “The additional capital will enable us to grow our core product line even further while also pursuing strategic acquisitions of complementary technologies and Internet properties.”
Proceeds will be used for working capital and to support the company’s strategic growth initiatives that include future acquisitions and shareholder liquidity.
“Along with growing our publishing group, the additional capital will enable us to continue to diversify by adding more search, lead generation, paid inclusion and e-commerce capabilities,” Mr. Hastings said.
RBC Capital Markets acted as the exclusive private placement agent for Geosign on this transaction.
“In all our businesses our first goal is to build a good consumer experience, which then translates into strong business results,” Mr. Hastings said. “That end user experience will only continue to get better as we add editors, writers, designers and developers to our team.”