EGain gets credit facility from CEO

Friday, 27 December 2002, 08:00 Hrs
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EGain Communications Corp. (Nasdaq:EGAN), a leading provider of knowledge-powered customer service software and services, received a $5 million credit facility from co-founder and Chief Executive Ashutosh Roy.

SUNNYVALE: In a press release Thursday, the customer service software provider said the facility consists of a $2 million initial loan, followed by additional loans of up to $3 million, subject to eGain meeting certain performance milestones.

"Calendar 2002 has been all about reaching breakeven and developing our next-generation 6.0 product suite," said Roy. "I am proud of the progress the eGain team has made towards achieving these goals, while right-sizing the business to operate effectively in a demanding economic environment. Calendar 2003 will continue to be a year of focused execution - we will seek prudent growth built on a platform of differentiated product offerings and sustained customer satisfaction. This credit line strengthens our balance sheet and further validates our confidence in eGain."
Source: IANS

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