Market Overview

MercuryGate International Acquired by Growth Equity Investor Summit Partners

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Leading SaaS-based TMS provider poised for accelerated growth

Summit Partners, a global growth equity investor, today announced the
acquisition of MercuryGate International, Inc., a leading independent
provider of SaaS-based transportation management system (TMS) solutions.

Co-founded in 2000 by CEO Monica Wooden and President Steve Blough,
MercuryGate began with a mission to solve the most complex, high-volume
transportation management challenges at an affordable price. Since those
early days, the company has grown immensely. Last year alone, the
MercuryGate TMS managed more than $70 billion of annual freight spend
and supported over 300,000 daily logins from 80 countries. At the
forefront of logistics technology innovation for the past 18 years,
MercuryGate today is one of the most comprehensive SaaS-based TMS
solutions in the market uniquely addressing all customer segments,
including shippers, 3PLs, freight forwarders, freight brokers, and
carriers.

"We selected Summit Partners amongst many other suitors because Summit
shares our vision and commitment to extend the foundation we have built
into a platform for accelerated innovation, global ecosystem enablement,
and customer scale," said Monica Wooden. "I was looking for an
investment partner that had the growth-oriented strategic and
operational resources to take us to the next level, and I found that
formula in Summit Partners."

As part of this transaction, Monica Wooden will transition into a
customer-facing role at the company as Chief Revenue Officer, while
Co-founder and President Steve Blough will continue on as Chief Product
Officer. Joe Juliano, an Executive-in-Residence ("EIR") with Summit
Partners and software industry leader, will join MercuryGate as
President and CEO and will work closely with Monica and Steve to drive
growth and scale initiatives.

Mr. Juliano brings a deep background in both supply chain and SaaS
software, as well as a demonstrated expertise in optimizing go-to-market
strategies, achieving high levels of customer satisfaction and
accelerating revenue growth. Prior to joining Summit's EIR program, Mr.
Juliano served as President and CEO of IQNavigator, a provider of SaaS
solutions that enables businesses to source, manage, and pay contingent
workforces. Previously, he was President of RedPrairie, a provider of
supply chain, transportation management, and workforce management
software, which merged with JDA Software, and he served as President and
CEO of PrimeRevenue, a SaaS supply chain financing company. Prior to
PrimeRevenue, Mr. Juliano led all commercial efforts of two
publicly-traded companies: Ariba and FreeMarkets.

"Joe's strategic vision, supply chain and transportation expertise, and
track record of growing and scaling software businesses and delivering
excellent customer service make him the natural choice to lead
MercuryGate in our next chapter of our growth," said Ms. Wooden. "I look
forward to working closely with Joe to drive continued product
innovation and deepen our commitment to our customers."

"MercuryGate is a world-class company dedicated to serving the needs of
a highly complex market with an extremely configurable and scalable SaaS
solution," said Mr. Juliano. "I'm excited to collaborate with Monica,
Steve, and the MercuryGate team and to leverage Summit's growth-oriented
strategic and operational resources to build upon MercuryGate's strong
foundation and expand its global footprint."

"With the addition of Joe's significant experience in customer-centric
growth, we believe MercuryGate has the right combination of vision,
product and leadership to drive continued growth in the TMS sector, and
we are excited to continue building on the momentum they have achieved
to-date," added Peter Rottier, a Managing Director with Summit who will
join the MercuryGate Board of Directors.

"MercuryGate offers a strong product with incredibly rich
functionality," said C.J. Fitzgerald, a Managing Director with Summit
Partners, who will also join the MercuryGate Board of Directors. "We
believe the company is strongly positioned for continued growth as
organizations large and small seek SaaS solutions to manage their
transportation and logistics operations for improved productivity and
operational efficiency."

"We have been pleased to partner with MercuryGate's management team and
support the company through an impressive growth period," said Alex
Berzofsky, Managing Director, Warburg Pincus, which previously invested
in MercuryGate. "MercuryGate is a clear leader in TMS software solutions
and we are confident they will enjoy continued success."

About MercuryGate International

MercuryGate provides powerful transportation management solutions proven
to be a competitive advantage for today's most successful shippers,
3PLs, freight forwarders, brokers, and carriers. MercuryGate's solutions
are unique in their native support of all modes of transportation on a
single platform including Parcel, LTL, Truckload, Air, Ocean, Rail, and
Intermodal. Through the continued release of innovative, results-driven
technology and a commitment to making customers successful, MercuryGate
delivers exceptional value for TMS users through improved productivity
and operational efficiency. MercuryGate offers business intelligence to
improve transportation processes, increase customer satisfaction, and
reduce costs.

Find out why MercuryGate has set the industry standard for the most
adaptable, comprehensive transportation solutions suite in the industry
at www.mercurygate.com
or on Twitter at @MercuryGate.

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm
that is currently managing more than $14 billion in capital dedicated to
growth equity, fixed income and public equity opportunities. Summit
invests across growth sectors of the economy and has invested in more
than 475 companies in technology, healthcare and other growth
industries. These companies have completed more than 140 public equity
offerings, and more than 190 have been acquired through strategic
mergers and sales. Notable technology and software companies financed by
Summit Partners include Fineline Technologies, FleetCor, Hiperos,
HelpSystems, Infor, Mi9 Retail, Navis, Perforce Software, RELEX
Solutions, SmartSheet, Trintech and Uber. Summit maintains offices in
North America and Europe, and invests in companies around the world.
Summit's Executive-in-Residence ("EIR") program facilitates
collaboration between seasoned industry executives and Summit's sector
teams who work together to identify investment opportunities, conduct
due diligence, and create and support value creation plans for the
companies with which Summit has partnered.

For more information, please see www.summitpartners.com or
on Twitter at @SummitPartners.

In the United States of America, Summit Partners operates as an
SEC-registered investment advisor. In the United Kingdom, this document
is issued by Summit Partners LLP, a firm authorized and regulated by the
Financial Conduct Authority. Summit Partners LLP is a limited liability
partnership registered in England and Wales with registered number
OC388179 and its registered office is at 11–12 St. James's Square,
London, SW1Y 4LB, UK. This document is intended solely to provide
information regarding Summit Partners' potential financing capabilities
for prospective portfolio companies.

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