| NetLogic Announces Completion of New Funding Round - Name Change |
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NetLogic Announces Completion of New Funding Round Company Changes Name to Voxitas® to Reflect Focused Business Approach St. Louis (November 2, 2007) - NetLogic, an ITSP (Internet Telephony Service Provider) and a leading provider of Quality of Service (QoS) Business-Class VoIP services, today announced the completion of a new round of financing that will allow the Company to fund its expansion goals and execute its business plan. The funding round was led by the Advantage Capital Community Development Fund and Dolphin Equity Partners. Two Rivers Associates and two angel investors also participated in the round, which will provide working capital to fuel NetLogic's continued growth. "We have aggressive network and market expansion plans that include strategic acquisitions," says Michael Morey, president and CEO of NetLogic. "The monies raised will help us to achieve those plans." As part of the Company's plans, it will be focusing efforts in growing its VoIP business in terms of both the superior quality of its products and services, and in its geographic reach. NetLogic Becomes Voxitas® "In recognition of this targeted focus on voice services, we will be changing our name to Voxitas," says Matt Siemens, vice president of marketing and sales for Voxitas. "Our commitment is to deliver business class voice quality. We will strive for nothing less than ‘True Voice'." "VoIP is one of the fastest-growing technologies in the telecom industry," said Mark Lewis, principal at Advantage, who has joined the Voxitas board of directors. "Voxitas' strong management team and depth of telephony experience has enabled the company to stay ahead of the curve and provide innovative services to customers nation-wide. Our investment will help Voxitas grow and reach another level of customers." "Voxitas has developed a strong and sound business strategy with a tremendous potential for company growth," said Greg Breetz of Dolphin Equity Partners and a Voxitas board member. "We expect to see good things from this company in the coming years." About Voxitas, Inc. Voxitas, formerly NetLogic, is a Quality of Service (QoS) Business-Class ITSP (Internet telephony service provider). The Company offers feature-rich, next generation VoIP (voice over Internet protocol) telephony services, utilizing SIP trunks. In addition, the Company provides long distance, Internet, toll-free and emergency 911 services to single and multi-site IPBX systems, in-bound and out-bound call centers, small to medium-sized enterprises, and wholesale carriers. Voxitas distributes its products and services through a network of agents, dealers and private-label wholesalers. Headquartered in St. Louis, Voxitas has offices in Chicago, Kansas City, Dallas and San Francisco. The Company will be adding an office in Washington, D.C. later in the fourth quarter of 2007. For additional information on Voxitas, please contact Matt Siemens at (314) 266-4000, visit http://www.voxitas.com/, or call the sales hotline at 888-696-3856. About Advantage Capital Partners Advantage Capital Partners (http://www.advantagecap.com/ ) is a private equity firm focused on investing in promising companies in connection with federal, state and local economic development efforts. With offices and partners in St. Louis, New Orleans and other cities, Advantage has raised more than $750 million in institutional venture capital since 1992 and invested in companies located in geographic areas underserved by traditional venture capital. Advantage Capital's investment was made with capital raised in connection with the federal New Markets Tax Credit (NMTC) program. This innovative initiative has facilitated the flow of billions of private capital into states and communities in need of economic development. These investment activities help to grow local tax base, create job opportunities and develop a base of wealth from which these communities can continue to expand. About Dolphin Equity Partners Dolphin Equity Partners specializes in investments in emerging media, communications and related information technology companies operating in North America. Located in New York, Dolphin currently manages over $340 million in capital. For more information, please visit http://www.dolphinequity.com/. About Two Rivers Associates Two Rivers Associates invests in companies with competitive market advantages that are poised for significant growth, both organically and through consolidation. The firm targets investments with revenues of $25 million to $100 million and focuses on the following industry sectors: industrial components, communications products and services, business services and logistics and distribution. Two Rivers Associates made the Voxitas investment from the Gateway Capco Fund, which the firm manages for Stonehenge Capital Co. |