Hifn Completes $33 Million Private Placement

Hifn completed a private placement of approximately 2.2 million shares of common stock for aggregate proceeds of approximately $33 million with a group of institutional investors, including existing stockholders of Hifn. The company intends to apply the net proceeds for working capital and general corporate purposes, as well as for strategic purposes in connection with selected acquisitions that may be considered in the future to expand its product and service offerings. http://www.hifn.com