SOURCE: 11i Solutions, Inc.

March 22, 2011 08:00 ET

11i Solutions, Inc. Completes Bridge Financing Round With Financial Sponsor Steel Pier Capital Advisors, LLC

HUNTSVILLE, AL--(Marketwire - March 22, 2011) - 11i Solutions, Inc., a pioneering wireless infrastructure architect and solutions developer, today announced it has closed out its convertible bridge financing round of $1.8 million, with strong support from its financial sponsor, private New York investment firm Steel Pier Capital Advisors, LLC. To date, Steel Pier has provided initial growth capital and led the bridge financing round. They have also provided introductions to potential strategic partners and acquisition candidates, as well as on-going corporate advisory services. The relationship has assisted 11i Solutions in securing capital to fund both its organic growth as a provider of wireless technology solutions to governments and enterprises and its acquisition of complementary companies and technologies. 

The announcement was made jointly by the CEO and Chairman of 11i Solutions, Domingo M. Silvas III, and the President and CEO of Steel Pier Capital Advisors, Michael Clofine. According to Silvas, "It's extremely gratifying to have the solid support of a financial sponsor like Steel Pier Capital to help us implement our long-term vision. With the support of Michael and his team, I'm confident in our ability to secure the requisite capital to execute on our business plan to deliver market-leading products and services."

Steel Pier Capital Advisors, LLC is a privately held, operationally driven private equity firm that partners with management to make non-control equity investments. For more information please visit www.steelpiercap.com.

About 11i Solutions, Inc.

11i Solutions, Inc. was founded in 2007 to deliver enterprise-wide security, compliance, data and communications services. Its customer-centric approach focuses on streamlining clients' wireless systems as a whole by anticipating new technologies and avoiding short-term obsolescence. With a wide range of solutions offered -- from asset tracking via radio frequency identification (RFID) and fixed mobile convergence to data centers and Secure Cellphone Communication™ (SCC) -- 11i Solutions remains vendor agnostic to offer "real" best-of-breed solutions. 11i Solutions, Inc. is headquartered in Huntsville, AL. For more information, visit www.11isolutions.com.

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