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Press Releases

SIPquest delivers a handset-only software solution for WiFi Fast Handoffs

With less than 10ms handoff latency, SIPquest delivers a vendor-neutral software solution ideal for VoWLAN roaming.

Ottawa, Canada - April 20, 2005 - SIPquest, a leading developer of Session Initiation Protocol (SIP) based IP Telephony software applications and technology , announced today that it has secured $6 million (US) of venture funding by current investors Covington Capital and Skypoint Capital. Funding will be used to advance customer deployments of the company's SIP-based IP Telephony multimedia collaboration and mobility capabilities, servicing enterprise equipment vendors and Service Providers.

"Our continued support of SIPquest demonstrates our commitment to advancing the IP telephony software category and our confidence in a team of industry experts who are successfully bringing product and services to market," said Peter Diedrich, Chairman of SIPquest and Partner at Skypoint Capital. "In addition to some key additions to the senior management team, SIPquest has also built partnerships with leading players in the industry this past year and is gaining significant traction in the market."

"SIPquest brings innovation that is invaluable to Service Providers and the enterprise equipment vendor market as they continue to focus on and deliver IP-based services and applications," said Jim Laird, Vice President Investments at Covington Capital. "We are excited by the possibilities the SIPquest technology offers to the communications industry and look forward to working with SIPquest management team for next generation IP-Telephony collaboration and mobility solutions."

SIPquest has strong technology leadership in the areas of SIP-based server and client applications and modules that spans voice, video and WiFi and cellular capabilities. SIPquest offers its partners - Service Providers, telecom, datacom and wireless equipment vendors - rebrandable SIPquest technology which they can embed or bundle into their products to quickly deliver valued multimedia collaboration capabilities to their customers. SIPquest 's existing product portfolio provides a full range of modular SIP-based client and server products including: a family of converged client products that spans the desktop, VoWiFi and cellular devices; a modular suite of servers that delivers audio conferencing, video conferencing, data conferencing, instant messaging, presence, and a SIP to H.323 signaling converter. Industry analysts have dubbed SIPquest 's client-only WiFi fast handoff solution as "disruptive".

"Our investors have shown a strong vote of confidence in our business model and long-term viability," noted Alain Mouttham , CEO and co-founder of SIPquest . "And, we'll use this new round of funding to increase the capabilities of our products, expand partner relationships, strengthen resources on customer implementations, and build on the success of these implementations for future growth."

About Covington

Covington Capital Corporation is based in Toronto and was founded in 1995 to provide individual investors access to exceptional private equity investments. Covington is a leading venture capital investment firm and is well known for its experienced investment team, active investment management approach, and diversified portfolio strategy. Through the Funds managed by Covington , investors have access to a broad range of private equity offerings based of stage of investment as well as specific industry sectors. Covington manages private-equity assets of approximately $400 million targeted at providing superior returns for shareholders. For more information, please visit www.covingtoncap.com.

About Skypoint Capital

Skypoint Capital® forms and manages venture capital funds that stimulate and leverage the ever-changing telecommunications and information technology sector. Its funds provide early-stage equity capital to new or growing businesses with the potential to become major enterprises. The firm, which currently has US $185 million under management, invests primarily in Canada , but also in the US , Israel and the UK . The members of the Skypoint Capital team have participated in more than 75 technology start-ups in the Ottawa and Montreal regions.For more information, please visit www.skypointcorp.com.

About SIPquest

SIPquest is a technology pioneer with specific expertise in Session Initiation Protocol (SIP). By embedding or bundling SIPquest SIP-based software products with their own products, telecom and datacom equipment vendors are able to take advantage of the growing demand for IP Telephony services and capabilities. SIPquest 's application and component suite includes IP-based audio conferencing, video conferencing, data conferencing, application sharing, instant messaging, presence, a multimedia collaboration agent, voice mail, auto attendant, a SIP to H.323 signaling converter, an extensible SIP server and mobile WiFi roaming and collaboration capabilities. SIPquest is committed to expanding the use of SIP technologies through an exclusive licensing agreement with Columbia University 's Internet Real-Time Lab and Professor Henning Schulzrinne, Chief Scientific Advisor to SIPquest and co-author of SIP. Located in Ottawa , Canada , SIPquest has the most complete and advanced suite of Session Initiation Protocol (SIP) software modules and components on the market.