Orix Venture Finance lent the money.
US-Israeli video surveillance solutions provider DVtel Inc. has secured a $12.5 million commitment from Orix Venture Finance. The company will use the proceeds to restructure its debt and support its growth plans.
DVtel is headquartered in New Jersey, but also has operations in Israel. It controlled by SCP Private Equity Partners, whose Israeli partner Yaron Eitan, serves as chairman of DVtel.
DVtel has a subsidiary in Herzliya, which develops software and some of the video components that the company supplies. DVtel acquired Israeli company Ioimage, controlled by Israel and Roni Kass, for $80 million 18 months ago. DVtel also acquired Israeli start-up Omnivee for $6 million and made other small acquisitions, which it did not disclose.
Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2011
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