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BABC Provides $20MM Asset-Based Revolver to Connexity

March 18, 2015, 08:09 AM
Filed Under: Marketing

Bank of America Merrill Lynch has provided a $20 million asset-based revolver to Connexity, Inc.  The proceeds were used to support the acquisition of Become, Inc. and to recapitalize the company.

“Connexity is pleased to have entered into this financing agreement with Bank of America Merrill Lynch,” said Bill Glass, CEO of Connexity, Inc. “We value the collaborative relationship we have developed and look forward to continuing to grow together.”

Jeff McLane, president of Bank of America Business Capital, said, “We look forward to helping Connexity through this financing and supporting the company’s continued growth.”

Connexity is a technology driven marketing solutions company that leverages almost 20 years of ecommerce expertise to enable companies to understand their consumers better, acquire new customers efficiently, and increase sales. For retailers, Connexity offers a range of marketing solutions including search marketing, syndicated product listings, targeted display advertising, and the Bizrate Insights customer feedback program. For brands and their agencies, Connexity delivers targeted audiences on any device through a programmatic media buying platform.  Headquartered in Los Angeles, the company operates business services in the United States, the United Kingdom, France and Germany. Connexity, Inc., formerly Shopzilla, Inc., is owned by Symphony Technology Group (STG).

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than 10 primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

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