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Proficient Networks and IP Deliver Merge to Form InfiniRoute Networks Inc. InfiniRoute Networks Inc. Delivers First Carrier-Neutral Fully Managed VoIP Service Integrating Voice and IP RoutingSAN FRANCISCO, CA - May 17, 2004 - Robert H. Turner, chief executive officer, InfiniRoute Networks Inc., today announced the successfully completed merger of IP Deliver and Proficient Networks into InfiniRoute Networks Inc. (www.infiniroute.com). The new company delivers the first and emerging carriers. By combining Proficient's IP route optimization technology with IP Deliver's managed VoIP service, InfiniRoute uniquely offers its customers easy and affordable access to the benefits of VoIP technology, significantly increasing voice quality and reliability. Building on each company's demonstrated successes, the combined solution allows forward-thinking carriers to deliver premium-quality voice service to global markets, more cost-effectively and faster than ever before. "The benefits to our customers are clear - we have successfully integrated both company's product lines, have a savvy management team, an experienced board of directors and top notch venture capital partners, including BV Capital, Canaan Partners and El Dorado Ventures," said Turner. "InfiniRoute delivers a service allowing carriers to instantly provision new carrier interconnections using VoIP while controlling traffic based on quality and price parameters. This represents a dramatic leap forward over the old world that required costly and time consuming point to point Time Division Multiplexed (TDM) interconnections." With existing customers that include major network operators and international telecommunications service providers, InfiniRoute provides the leading managed solution for telecommunications carriers seeking to migrate their carrier-to-carrier interconnections to VoIP. InfiniRoute's solution delivers competitive advantages that include: greater access to global markets; lowered operating costs; reduced technology risk and faster time to market. "We believe the combination of Proficient and IP Deliver creates a compelling value proposition for the VoIP market and positions the company to continue its significant growth," said Mathias Schilling, general partner, BV Capital. "We are excited to support the company's aggressive plans." "Global carriers are under increased pressure to preserve profitability under tightening resource constraints," said Deepak Kamra, general partner, Canaan Partners. "InfiniRoute now offers the quickest route to migrating carrier interconnections from legacy TDM infrastructure to direct VoIP interconnections without the risk of a major capital investment and integration effort on VoIP equipment and software." "VoIP is experiencing dramatic growth worldw ide," said Charles Beeler, general partner, El Dorado Ventures. "InfiniRoute brings together two companies with complementary technologies to deliver a very unique and timely VoIP offering that is well-poised for success." - end - About InfiniRoute Networks Inc. InfiniRoute Networks Inc. provides the first carrier-neutral fully managed Voice over IP (VoIP) service, seamlessly integrating and managing voice and IP routing for wireline, wireless and emerging carriers. Customers migrating their carrier-to-carrier interconnections to VoIP use InfiniRoute's solution to gain competitive advantages that include: greater access to global markets; lowered operating costs; reduced technology risk and faster time to market. InfiniRoute Networks Inc. was established in 2004 as the result of the merger between two private companies, IP Deliver and Proficient Networks. Established in 2001, Proficient Networks provided a platform that measures end-to-end IP network performance, responds quickly to automatically fix problems and prevents network congestion. Established in 2002, IP Deliver provided comprehensive VoIP network management services. IP Deliver's Global VoIP connectivity product will continue to be offered as part of the company's overall solution. About BV Capital BV Capital is an independent venture capital fund with international high profile investors. The four founding members of the firm have extensive experience in the Internet, electronic media and telecommunications industries. BV Capital primarily focuses on early stage investments in the media, communications, infrastructure, enabling technologies and wireless application markets. In 2000 the Wall Street Journal named BV Capital as one of the most influential technology financiers on either side of the Atlantic. For more information, please visit: www.bvcapital.com. About Canaan Partners Canaan Partners (www.canaan.com) is a national venture capital investment firm formed in 1987. Canaan specializes in startup and emerging-growth companies in information technology and services, as well as life sciences and medical technology. Canaan Partners was an early backer in AdvancePCS (ADVP), Capstone Turbine (CPST), CommerceOne (CMRC), Concord Communications (CCRD), Copper Mountain Networks (CMTN), Esperion (ESPR), Genaissance Pharmaceuticals (GNSC), International Network Services (INSS), IntraWare (ITRA), Interact Commerce (IACT), iPrint (IPRT), Network Engines (NENG), ONI Systems (ONIS), Orapharma (OPHM), Pozen (POZN) and Praecis Pharmaceuticals Inc. (PRCS), along with dozens of other market-leading companies. About El Dorado Ventures El Dorado Ventures is a leading venture capital partnership founded in 1986 specializing in early-stage investments. With $500 million under management, EDV focuses on enterprise software and services and communications companies located primarily on the West Coast. EDV's four general partners have funded more than 90 technology-based startups, including Earthlink Networks, Novellus Systems, IDT, Sun Microsystems and Access Health. Recent acquisitions of EDV portfolio companies include NuSpeed Internet Systems by Cisco Systems, Cyras Systems by CIENA Corporation and Efficient Networks by Siemens. Additional information about El Dorado Ventures can be found at www.eldorado.com. InfiniRoute Media Contact: John Sacke Sacke & Associates Inc. Phone: 416.493.5723 ext. 201 [email protected] |