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Anacomp Receives $8 Million in New Financing

By Brad Jenkins

SAN DIEGO, March 13 /PRNewswire-FirstCall/ -- Anacomp(R) Inc., a leading business process solutions company, today announced that it has raised $8.0 million in secured senior subordinated debt from its two principal shareholders. The debt, which has a stated maturity of five years from date of issuance, also entitles the investors to purchase an additional $2.0 million at the same terms as the initial investment. The new financing will help support Anacomp's aggressive growth initiatives.

"This investment is an affirmation of our vision to transform Anacomp into a highly profitable business process solutions company, offering leading software as a service (SaaS) applications in litigation support, finance and accounting, and human resources which leverage our leading on-demand business process platform for enterprise capture, hosted repository, and business process management," said Howard Dratler, Anacomp's President and CEO. "These proceeds will be used to fund ongoing investments in product development, sales, marketing and our technology infrastructure both in the United States and in Europe."

Full post as published by Litigation support industry business news and information on March 14, 2008 (boomark / email).