http://www.ridgerun.com/pr/2000/05/25/0001/
Jun 25, 2002
RidgeRun
Copyright ©2000-2002 RidgeRun, Inc.

Press Release

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Akers Capital Closes Investment in RidgeRun, Inc.

Provider of software for network-connected Linux devices secures first round of funding

BOISE, ID - May 25, 2000 - Akers Capital, LLC today announced that its Pac West Technology Ventures Fund had closed an initial investment in RidgeRun, Inc. RidgeRun, based in Boise, Idaho, creates software for network-connected devices using the Linux operating system. The company's software is targeted at the next generation of innovative 'network appliances' such as smart phones or connected digital assistants, a market segment that is experiencing rapid worldwide growth.

"We are excited to make this investment in RidgeRun," said Tom Loutzenheiser, a Managing Partner at Akers Capital LLC. "Net-centric embedded systems are a hot market opportunity with lots of growth. RidgeRun has an excellent technical team that is well positioned to be a leader in this space."

Akers Capital, as the general partner of the Pac West Technology Ventures I Fund, acted as lead investor in this first round of financing for RidgeRun, which totaled $500,000. In addition to providing investment capital, Akers Capital will provide mentoring and support for the RidgeRun team to help the company succeed and meet its aggressive growth plans.

"Partnering with Akers Capital is much more than just about financing," said Pat Sewall, President of RidgeRun, Inc. "The team at Akers Capital, and their value-added network have already helped us put the company on the fast-track. It allows our management team to really focus on our core competencies, which is critical to meet our market leadership goals."

About Akers Capital, LLC

Akers Capital, LLC was founded in 1999 by managing partners Roger Akers and Tom Loutzenheiser. The firm's investment team brings over 60 years experience operating and investing in emerging technology companies. Akers Capital, LLC, is the general partner of Pac West Technology, LLP investment fund. The Fund will make private equity investments in high-growth technology companies, focusing on Internet and information technology. Akers Capital is dedicated to working closely with motivated entrepreneurs and adding significant value to build successful companies. Akers Capital LLC has offices in Fair Oaks, California and Boise, Idaho. Additional information can be found at www.akerscapital.com, or e-mail to info@akerscapital.com.

About RidgeRun, Inc.

RidgeRun, Inc., founded in May 2000, creates software for network-connected devices using the Linux operating system. The RidgeRun team has extensive experience in developing world-class embedded systems and creating reliable and high performing Linux solutions. RidgeRun can be reached at (208) 331-2226, www.ridgerun.com or by e-mail to info@ridgerun.com.