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Technology / AI and automation

SYSTEM INTEGRATORS COMPLETES RAISING OF FINANCE

System Integrators Inc, the Sacramento, California supplier of the computer-based production systems used by a substantial proportion of the world’s major newspapers, has completed raising of finance for its move to take the company private with a $9-a share offer that values it at $115m: the company has a commitment from Security Pacific National Bank, Los Angeles, and Chase Manhattan, New York for $45m in the form of a seven-year loan could be tough if there is a downturn in the newspaper business, $9m to be repaid on sale of surplus property, and $5m working capital.

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CBR Staff Writer

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