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DTT Secures $60 Million Credit Facility(October 30, 2013)
Los Angeles, CA (PRWEB) October 30, 2013
DTT announced today that it has increased its credit facility to $60 million, through a round of funding led by Capital One. Capital One Bank served as lead bank and agent in the transaction, and brought in CapitalSource to complete the funding.
DTT is a leader in digital surveillance and loss prevention solutions for hospitality and retail, and the increased funding will be used to sustain the companys continued rapid growth over the last few years. In August DTT opened a second office to accommodate a significant increase in staff.
Sam Naficy, President/CEO of DTT stated, As we venture into the specialty retail space, targeting convenient stores and small box retail establishments now in addition to restaurants, I expect adoption of our system to continue to climb sharply. Im excited to close out the year with a very strong 4th quarter. Mr. Naficy continued, I am thankful to Capital One Bank for their continued support. They have served as our anchor in this transaction, and were able to bring in CapitalSource as part of the debt structure. These additional resources will help us to continue on our path to further growth.
We are pleased to support DTT as they bring their digital video surveillance solutions to new markets, said John Robuck, Senior Director, Security Finance, Capital One Bank. This credit facility is a milestone for DTT, and we welcome the opportunity to partner with this industry leader as we continue to expand our commercial and specialty lending business nationwide.
DTT has built an incredible platform and CapitalSource is pleased to support Sam and the company as they continue to expand the markets they serve, added Will Schmidt, Managing Director of Security Lending Group at CapitalSource.
About CapitalSource, Inc.
CapitalSource Inc. is a commercial lender that provides financial products to middle market businesses and offers depository products and services in southern and central California through its wholly owned subsidiary CapitalSource Bank. As of September 30, 2009, CapitalSource had total commercial assets of $10.4 billion and $4.4 billion in deposits. The Company is headquartered in Chevy Chase, MD. Visit http://www.capitalsource.com for more information.
About Capital One
Capital One Financial Corporation (http://www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., had $209.9 billion in deposits and $296.5 billion in total assets as of June 30, 2013. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia.
Headquartered in Los Angeles, California, DTT provides digital video surveillance solutions to the hospitality and specialty retail industries. DTT was founded in 1999 by Sam Naficy, leveraging the power of emerging digital technology to support the needs of a broad base of clientele. Since first launched, DTT has equipped, serviced and supported more than 30,000 clients. Every day, software provided by DTT protects trillions of dollars in assets and oversees nearly 2 million employees. Some of the worlds most popular and respected restaurant brands use DTT including McDonalds, SUBWAY®, Dairy Queen, Burger King, Dunkin Brands, Taco Bell, KFC, Auntie Annes, and Potbelly Sandwich Works, to name a few. Please visit http://www.dttusa.com for more information.
Read the full story at http://www.prweb.com/releases/2013/10/prweb11281127.htm.