GREENWICH, CT -- (MARKET WIRE) -- 09/06/05 --
Technology Investment Capital Corp. (NASDAQ: TICC) announced today that it has completed a $15 million investment in
senior secured notes issued by NetQuote Inc. NetQuote operates a web-based
business through which local insurance agents and national insurance
companies acquire leads of consumers seeking to purchase competitively
priced insurance policies. TICC's investment supports the acquisition of
NetQuote by Spectrum Equity Investors and Stripes Group.
About NetQuote Inc
Based in Denver, Colorado, NetQuote operates a web-based business through
which local insurance agents and national insurance companies acquire leads
of consumers seeking to purchase competitively-priced insurance policies.
NetQuote's website and services enable consumers, at no cost, to receive
multiple insurance quotes from the Company's network of independent local
insurance agents and local representatives from its national insurance
partners. Please visit www.netquote.com for more information.
About Spectrum Equity Investors
Spectrum is a private equity investor in established and emerging growth
companies in the media, communications, information technology, and
information and business services industries. Founded in 1994, Spectrum
manages private equity funds representing $4 billion in committed capital
and has offices in Menlo Park, Boston, and New York. Please visit
www.spectrumequity.com for more information.
About the Stripes Group
Stripes Group provides profitable entrepreneurial companies with a
competitive advantage in execution. As an active partner, Stripes Group
supports its portfolio companies through growth capital, access to Fortune
1000 customers, recruiting executive talent and the ability to tap the
operating experience of its principals. Stripes Group makes growth equity
investments of $10 million to $40 million per transaction and acquires
companies with purchase prices of $20 million to $150 million. Stripes
Group executes a targeted investment strategy in Technology, Branded
Consumer Product and Financial Service companies. Please visit
www.stripesgroup.com for additional information.
About Technology Investment Capital Corp.
We are a publicly traded business development company principally engaged
in providing capital to small to mid-size technology-related companies.
While the structures of our financings vary, we look to invest primarily in
the debt and equity of established technology-related businesses.
Companies interested in learning more about financing opportunities should
contact Barry Osherow at (203) 661-9572 or visit our website at
www.ticc.com.
Forward-Looking Statements
This press release contains forward-looking statements subject to the
inherent uncertainties in predicting future results and conditions. Any
statements that are not statements of historical fact (including statements
containing the words "believes," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to be
forward-looking statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time to time
in our filings with the Securities and Exchange Commission. We undertake no
obligation to update such statements to reflect subsequent events.
Contact:
Matthew Bass
203-983-5360