BOSTON (January 16, 2006) - ABRY Partners recently invested $20
million in Convertible Preferred Stock of iTradeNetwork, Inc.
(“iTrade”). iTrade is the leading provider of On-Demand workflow
solutions for the Retail and Foodservice industries. iTradeNetwork’s
On-Demand solutions exceeded $110B in volume in 2005 and is expected to
double in the next eighteen months. iTrade is a rapidly-growing company
with high recurring revenues and strong operating margins. The vast
majority of iTrade’s revenues are generated from multi-year
subscription contracts. ABRY’s investment in iTrade will be used to
fund the development of new product offerings, potential acquisitions,
and for future expansion both domestically and internationally.
Partners, based in Boston, is one of the oldest and largest private
equity funds in North America investing exclusively in the media,
communications and information industries. ABRY has over $7.0 billion
of assets under management and since 1989 has completed over $18.0
billion of leveraged transactions in the media, communications and