Zeligsoft Secures Series A Financing and Strengthens Corporate Governance

Zeligsoft Secures Series A Financing and Strengthens Corporate Governance

Leading SCA Software Tools Vendor Adds Software Industry Veterans to Board of Directors

Gatineau, QC, January 12, 2005 — Zeligsoft, a leading vendor of tools which enable the design, deployment and configuration of component-based software, today announced the successful completion of its $2.5M Series A financing. The investment was led by Fonds régional de solidarité FTQ Outaouais and includes follow-on investment by Société Innovatech du Grand Montréal as well as other investors.   The company has also announced the appointment of software industry veterans Jim McGee and Dave Longbottom to the Board of Directors, and the nomination of Longbottom as Chairman of the Board.

"During recent reference calls with Zeligsoft's customers, we heard strong recurring messages," said Michel Parent, General Manager at Le Fonds régional de solidarité FTQ Outaouais. "The customers view Zeligsoft's development tool as a key enabler of their mission critical component-based software development.  They have experienced a compelling ROI for the tools, which have helped to deliver impressive time to market and quality improvements in their embedded software projects."

"As an initial investor in Zeligsoft, we are pleased to be participating with Le Fonds in this Series A investment round," said Dominique Bélanger, Investment Manager at Innovatech, Grand Montréal.  "We are very pleased by the progress that the company has made to date.  They have quickly established themselves as a valued supplier to some very large and demanding organizations such as Boeing, Rockwell-Collins and others."

"For years, the embedded software industry has struggled with the challenges of developing and deploying distributed applications," said Jim McGee, CEO and Founder of ObjecTime, which was acquired by Rational Software in early 2000.  "Zeligsoft has the right product at the right time.  The company has a strong focus on the component-based software development market - a market which is strongly supported by prevailing trends in the industry."

"I am delighted to join the board of Zeligsoft at this time, and honoured to have been asked to serve as Chairman," said Dave Longbottom, formerly CEO of Chrysalis-ITS, and COO of ObjecTime, who has been advising the company for several months.  "Along with my fellow board members, I look forward to working with the excellent management team to ensure that Zeligsoft executes well and that together we build a lasting, and significant player in the software tools industry."

 "This is an exciting time for our company and the industry, as a movement to adopt component-based development is well underway in the embedded software market," said Francis Bordeleau, Founder and CEO Zeligsoft. "Closing this Series A round of financing and the creation of a strong Board of Directors with extensive industry expertise is a significant milestone in the growth and development of the company."   "Furthermore, it means that we have the necessary resources to increase the pace of our product development while expanding our global presence, to ensure that that we continue to meet and exceed the expectations of our valued customers and partners," added co-founder and CTO John Hogg.

About SCA
A single radio device that can handle multiple communications services, standards, and protocols by reconfiguration of the software profile is called Software Defined Radio. Signal processors, Software Communications Architecture (SCA), and Security software are some of the key software radio technology enablers. The SCA defines standard interfaces that allow wireless applications to run on multiple hardware sets from a range of vendors. The OMG, a non-for-profit consortium that produces and maintains computer industry specifications for interoperable enterprise applications, has established a Domain Task Force that primarily focuses on software radios (Software-Based Communication DTF). Current programmable radio development (JTRS within the DoD and US Government) is driven to align with the SCA standard.. It is widely expected that future global programmable radio developments will be driven to adopt SCA as well.

About Zeligsoft Inc.
Founded in 2002, Zeligsoft is the market leader in tools which enable the design, deployment and configuration of component-based embedded software.  With a history of active participation in the development and evolution of key component standards, Zeligsoft tools ensure their customer's applications and platforms comply with rigorous industry- and company-defined standards.  With support for automated compliance testing directly in the tools, Zeligsoft users can stay focused on what they do best.  Eliminating labor-intensive and error-prone tasks throughout the development cycle, Zeligsoft helps customers deliver high-quality products to market faster.  

Zeligsoft is privately held and is located in Gatineau, QC, Canada. For more information, call +1 819 684 9639 internationally, or +1 800 ZELIGSW in North America, or visit www.zeligsoft.com.

About Fonds Régional de Solidarité FTQ Outaouais
The Fonds Régional de Solidarité FTQ Outaouais is an important economic player in the development strategy of the Outaouais Region, with great understanding of the regional economic issues as well as an awareness of the challenges facing business managers. Business growth is a prerequisite to economic development.

Through its network of contacts with the other regional funds, speciality funds and the Fonds de Solidarité FTQ, the Fonds Régional de Solidarité FTQ Outaouais is able to offer business opportunities to more than 2100 partner companies.

About Innovatech Montréal
Managing a venture-capital investment fund of $350 million, Innovatech Montréal specializes in technological innovation - from start-up to success. The organization sets itself apart by only financing technological innovations at the start-up or technology stage. Innovatech Montréal focuses its efforts on several dynamic industries, namely, health sciences, information technology, advanced technologies and telecommunications. Innovatech Montréal is an equity-based company whose shares are held by the Government of Québec, and is currently being acquired by Coller Capital Partners. For more information, visit www.innovatech.qc.ca