3Q Raises Cash to Buy Firm Back from Harte Hanks

In the US, Silicon Valley-based marketing agency 3Q Digital has raised $10m in credit, which it will use to buy back the business from parent company Harte Hanks.

Founded in 2008 by David Rodnitzky (pictured), 3Q offers a range of solutions including mobile advertising, analytics, social media advertising, SEO and business strategy consulting. Its Analytics and Business Intelligence division takes clients' key performance metrics and creates customized dashboards and data visualizations to help them understand their performance and other data.

3Q was acquired by Harte Hanks in 2015, but the firm's founders and team were retained after the sale and given autonomy to run the business. They now want it back, and have borrowed $10m from Avidbank Speciality Finance to bankroll the deal and to provide working capital to support growth.

Michelle D'Costa, VP of Finance, 3Q Digital, comments: 'It's been a pleasure working with the Avidbank team. They have been proactive, organized, attentive, and professional. I'm excited for what's ahead for 3Q Digital; with our independent status and innovative drive and such a responsive, supportive partner by our side, the sky's the limit'.

Web site: www.3qdigital.com .