News Room
Press Release
InterSearch Group Secures New $3.75 Million Line of Credit From Silicon Valley Bank
SAN FRANCISCO , CA. — January 24, 2005 11:27 AM US ET
InterSearch Group, Inc. (Pink Sheets: ISGP - News ), which owns and operates several Pay Per Click (PPC) Internet search engines and provides Fortune 500 companies professional consulting and search-related services, said it has secured a $3.75 million line of credit to help it pursue its strategic growth plans.
InterSearch Group secured the new $3.75 million credit facility through Silicon Valley Bank, Santa Clara , Calif.
Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life science, private equity and premium wine markets. The company serves more than 9,500 clients globally through 26 domestic offices, two international subsidiaries and an extensive venture capital network.
"This line of credit provides us more flexibility to pursue the growth agenda we’ve outlined," said Dan O’Donnell, President and CEO of InterSearch Group. "Our goals are to build business organically through our existing units, as well as through continued target acquisitions of companies that complement our services. We took care in looking for a financial institution partner to help us make those goals a reality. Silicon Valley Bank was the firm that demonstrated they wanted to grow with us."
InterSearch Group consists of Corporate Consulting Services, which oversees the investment and operation of professional services in IT and financial services, executive staff recruiting and corporate search services training, and Walnut Ventures, which oversees the investment and operation of Internet technology and online search properties.
Walnut’s Pay Per Click (PPC) search engine properties operate in the same space as Google (GOOG), Ask Jeeves (ASKJ), InfoSpace (INSP) and Mamma.com (MAMA). Its long-standing PPC provider partnerships and unique meta-search technology provide users with "one-stop shopping" that generates the best search results throughout the Internet.
More information about InterSearch Group, Inc. can be obtained at its website: www.InterSearch.com or by contacting the company at 415-901-0410. InterSearch Group’s stock is listed on the National Quotation Bureau under the symbol ISGP.PK
Except for historical information, matters discussed above are forward-looking statements within the meaning of safe-harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from projected results. Those factors include, but are not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, services and related products, prices or other areas. The Company undertakes no obligation to publicly release the results of any revisions to forward-looking statements.
Editor Note: To obtain an InterSearch Group logo for publication, call or email Terry McWilliams, Keller Crescent Co., using the contact information below.
# # #
Contact:
InterSearch Group, Inc.
Frank McPartland
415-901-0410 Ext. 422
fmcpartland@intersearch.com
OR
Dan O’Donnell
415-901-0410 Ext. 411
dodonnell@intersearch.com
OR
Gary Bogatay
415-901-0410 Ext. 401
gbogatay@intersearch.com
OR
Keller Crescent Company
Terry McWilliams
812-426-7720
tmcwilliams@kellercrescent.com