Astea International Inc. (NASDAQ: ATEA) said it has obtained a two year revolving line of credit for working capital needs from Silicon Valley Bank for USD3m.
The secured revolving line of credit is subject to a borrowing base of trade accounts receivable. Additional information on the credit facility will be made available in a forthcoming Form 8-K for the transaction to be filed with the Securities and Exchange Commission.
Astea International is a global provider of software solutions that offer all the cornerstones of service lifecycle management, including customer management, service management, asset management, forward and reverse logistics management and mobile workforce management and optimization. Its website is at www.astea.com.