DGS.L Regulatory News (DGS)

1 April 2015

Digital Globe Services, Ltd.

(the "Company," the "Group" and, together with its subsidiaries, "DGS")

Bank Facility

Digital Globe Services, Ltd. (AIM: DGS), a leading provider of online customer acquisition solutions for large, consumer-facing organisations, announces that its indirect US subsidiaries, Digital Globe Services, Inc., DGS Edu, LLC and TelSat Online, Inc. (collectively, "DGS US") have entered into a working capital facility with borrowing capacity up to $3.0 million with San Francisco, US based Heritage Bank of Commerce (the "Facility").

Mike Hansen, Senior Vice-President Corporate Finance Division of Heritage Bank of Commerce stated, "Our provision of this facility reflects our confidence in the DGS Group, its business model and its ability to execute. We look forward to a long, productive relationship with the DGS Group as it continues to grow."

Jeff Cox, CEO of Digital Globe Services, commented: "We are pleased to be partnering with Heritage Bank which is supportive of our growth strategy and recognises the opportunities available to us in the digital, on-line advertising and customer acquisition industries. This financing facility will be of great benefit to the Company as we continue to expand in the US, Canada and Europe, and we look forward to our ongoing relationship."

The Facility is a senior secured working capital line of credit with an interest rate at a fixed margin to the WSJ Prime Rate and is due on 31 March 2016. Upon mutual agreement, the Facility may be renewed and the borrowing capacity may be increased. The Facility is secured by a charge over the assets of DGS US with a guarantee from the Company.  

The Facility replaces the fixed interest rate, demand note of Eagle Bank entered into March 2014.

For further information please contact:

Overview of DGS

Founded in 2008 with offices in London, Bermuda, Netherlands, USA and Ireland, DGS is a specialist provider of outsourced online customer, lead, and inquiry acquisition and digital media solutions for large, consumer-facing corporations. DGS delivers customers to its clients through optimised paid search, search engine optimization, mobile, integrated websites, e-mail, social media and contact centre support, receiving a fee for each customer acquired for its clients.

DGS is seeking to establish itself as the leading international provider of outsourced online customer, lead and inquiry acquisition, services, through its focus on having the premier technology platform in the industry. By using its optimising technology platform, dgSMART, and its experience of website management and digital media customer acquisition, efficient contact centre operations and other process expertise, DGS is able to acquire customers and achieve conversion rates that deliver profitable, high quality customers and valuable leads and inquiries to its clients. 

DGS employs over 600 staff in Europe, North America and Asia. The Company currently has over 100 direct and indirect client relationships globally, many of which are with companies in the US Fortune 500.