Valhalla, New York - GlobalServe, Inc., the market leader in international IT life cycle management for multinational corporations, today announced that it has secured a three million USD venture loan from MMV Financial, Inc. (“MMV”). GlobalServe will use the proceeds from the MMV financing to accelerate sales and marketing growth. The company’s customers include Bristol-Myers Squibb, Merck, Yahoo!, Worldspan, BG , WPP, OKI, and Mars, to name a few.
“GlobalServe is pleased to have MMV as a new financial partner,” said Scott Thompson, Chief Executive Officer of GlobalServe. “We are energized about the opportunity that exists for us in the global IT procurement market. This new investment will allow us to execute our sales and marketing strategy and continue growing the company.”
GlobalServe enables global corporations to secure through GlobalServe’s web portal IT equipment and related services from leading computer manufacturers, under prices pre-negotiated at the corporate global procurement level, and obtain fulfillment for computer services and support through remote access or local fulfillment through GlobalServe’s worldwide supply chain. This is a new way of looking at the complicated and costly problem of comprehensive asset acquisition, deployment and management; which is an elusive challenge for global businesses immersed in industry and technology change. GlobalServe’s approach to complete IT lifecycle management is based on a methodology developed over ten years, and refined through partnering with some of the world largest corporations, all of whom benefit from huge IT cost savings.
“GlobalServe has a proven offering that addresses the complex global IT procurement and management challenges of Fortune 1000 companies”, explains Ron Patterson, Executive Vice President, MMV Financial, Inc. “MMV is excited to be a part of a company with such a loyal and growing customer base. This is MMV’s seventh investment in the Tri-State area.”
The Company is privately held and venture-backed, by Fremont Ventures, Hudson Venture Partners, Walden Capital Partners, CrossTechnology as well as by one of GlobalServe’s founding shareholders, Compugen Systems. The debt financing from MMV followed an additional equity round (received in June) of $1.5 million USD from current investors.
About GlobalServe, Inc.:
GlobalServe, Inc. is the premier provider of Global Information Technology, Supply Chain and complete IT Life Cycle Management. The company offers worldwide IT supply, support and savings - globally managed, locally delivered. GlobalServe enables customers to procure, deploy and support technology assets or services in any country or currency, anytime from anywhere in the world. To learn more about GlobalServe’s services and for a complete client list please go to http://www.global-serve/, or contact:
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About MMV Financial Inc.:
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, NewStar Financial, Inc., and Wells Fargo Company. For more information visit www.mmvf.com,
Executive Vice President
MMV Financial Inc.