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Frontier Capital Exits Azaleos Corporation

Frontier Capital is pleased to announce the successful exit of its investment in Azaleos Corporation, a leading provider of managed email, collaboration and unified communications services available in private cloud, on-premise or mixed deployment architectures.

Headquartered in Seattle, WA, Azaleos provides remotely managed services for Microsoft Exchange, SharePoint and Lync, using advanced software to remotely monitor and manage email, collaboration, and unified communications systems. The company was acquired by Avanade, a global business technology solutions and managed services provider, and subsidiary of Microsoft Corporation (NasdaqGS:MSFT). Approximately 200 Azaleos employees joined Avanade as part of the acquisition. The transaction, initially announced on November 13, 2012, closed on December 18, 2012. Terms of the transaction were not disclosed.

Frontier first invested in Charlotte-based M3 Technology Group, Inc. in September 2007 which later merged with Azaleos in March 2009 to create the market leader for remotely managed Microsoft Exchange services. Azaleos was recently positioned by Gartner Inc. as a Challenger in the Magic Quadrant for Unified Communications as a Service, and has been repeatedly ranked in Deloitte’s Technology Fast 500™, which recognizes the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The company’s growth reflects an increasing preference among organizations to delegate management and maintenance responsibility for their infrastructure including messaging, collaboration and unified communications systems to third party experts.

Phil Van Etten, CEO of Azaelos said, “We have truly enjoyed our partnership with Frontier and want to thank them for their support and confidence in us.”

“It has been a pleasure to work with Phil and the company’s exceptional management team,” added Joel Lanik, Partner of Frontier Capital. “The growth at Azaleos has been remarkable and we’re proud to be a part of it.”

The success of the Azaleos transaction highlights Frontier’s expertise in the managed services industry, which accounts for approximately one-third of the firm’s portfolio and includes successful investments in Peak 10 and SecureWorks.

About Frontier

Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit www.frontiercapital.com.

About Azaleos

Azaleos Corporation provides managed email, collaboration and unified communications services available in private cloud, on-premise or mixed deployment architectures. Azaleos’ 24x7 managed services for Microsoft Exchange, SharePoint, Lync, and AirWatch MDM improve availability, security and performance, while reducing maintenance time and costs. The patented AzaleosX technology platform enables customers to maintain control over servers and data including their location, while uptime, maintenance, and support is proactively handled by certified experts in Azaleos network operations centers. Hundreds of companies from Fortune 500 to mid-market enterprises rely on Azaleos to manage their collaboration infrastructures and address issues before users ever know they exist. A member of the National Systems Integrator program (NSI), Azaleos is one of Microsoft’s top 34 partners in the U.S. Azaleos investors include Ignition, Frontier Capital and Second Avenue Partners. For more information, visit www.azaleos.com.

About Avanade

Avanade provides business technology solutions and managed services that connect insight, innovation and expertise in Microsoft® technologies to help customers realize results. Our people have helped thousands of organizations in all industries improve business agility, employee productivity, and customer loyalty. Avanade combines the collective business, technical and industry expertise of its worldwide network of experts with the rigor of an industrialized delivery model to provide high quality solutions using proven and emerging technologies with flexible deployment models–on premises, cloud-based or outsourced. Avanade, which is majority owned by Accenture, was founded in 2000 by Accenture LLP and Microsoft Corporation and has 17,000 professionals in more than 20 countries. Additional information can be found at www.avanade.com.

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