SOMA Networks Raises $50 Million in Financing Led by Temasek Holdings and Morgan Stanley Venture Partners

Jun 12, 2005, 01:00 ET from SOMA Networks, Inc.

    SINGAPORE and SAN FRANCISCO, June 12 /PRNewswire/ -- SOMA Networks, Inc.,
 a leading provider of last-mile broadband wireless access technology
 delivering multi-megabit broadband access and landline-quality voice services,
 today announced that it has secured $50 million in late-stage funding. Led by
 financial investors, Temasek Holdings Pte. Ltd. (Temasek), and Morgan Stanley
 Venture Partners, including participation from NeoCarta Ventures, Inc., and
 Endeavour Investments Limited, this round of $35 million complements $15
 million of strategic financing SOMA Networks closed in late 2004. The
 financing has been earmarked for global expansion as the company continues to
 deliver on numerous commercial contracts, network expansions, and the
 resulting growth in both domestic and international operations.
     "During the telecom downturn, SOMA Networks continued to invest heavily in
 enhancing the company's industry leading broadband wireless solution," said
 Pete Chung, Executive Director, Morgan Stanley Venture Partners. The company's
 focus on developing a complete wireless system that meets and exceeds customer
 expectations is driving impressive system performance and customer traction
 now that the market for broadband wireless has heated up globally. We were
 also impressed with SOMA Networks' ability to support both WiMAX and HSDPA
 standards on the same platform to service evolving customer demand for
 standards-based solutions. "
     Temasek Holdings, a Singapore-based investment company, has significant
 presence in the telecom industry with direct and indirect holdings in some of
 the largest South-East Asian telecom companies in countries such as Singapore,
 Australia, India, Malaysia, the Philippines, Indonesia, Taiwan, Thailand, and
 Hong Kong. We look for investment opportunities that are synergistic with our
 portfolio of investments. We are attracted to SOMA Network's global
 opportunity, strong intellectual property, and large market potential,"
 commented Dennis Siew, Managing Director of Strategic Development at Temasek.
     "We are pleased to have the financial backing of world-class partners like
 Temasek Holdings and Morgan Stanley Venture Partners as we continue to scale
 operations to serve the expanding global market," said Yatish Pathak, Founder
 and Chief Executive Officer of SOMA Networks. With the strong support of such
 distinguished financial institutions, SOMA Networks is well capitalized for
 continued growth in our target markets, while enabling long-term R&D
 initiatives to sustain and increase our technology lead."
 
     About SOMA Networks
     Integrating the latest advances in wireless broadband, distributed
 computing, and Internet technologies, SOMA Networks offers the industry's
 leading "last-mile" wireless broadband system.  With the SOMA(TM) solution,
 service providers can quickly and profitably roll out a feature-rich package
 of broadband Internet access and landline-quality voice service to the
 residential and small-office market.  Key advantages of the SOMA solution
 include its large cell size for quick and inexpensive market entry, multi-
 megabit data rates, voice capabilities, non-line-of-sight access enabling
 self-installation of the SOMAport(TM) wireless broadband gateway, subscriber
 self-activation of services, and the ability to support both WiMAX and HSDPA
 standards on a common platform. Founded in 1998, SOMA Networks has development
 centers located in San Francisco, California; Richardson, Texas; and Toronto
 and Ottawa, Ontario.  For more information about SOMA Networks, visit our
 website at http://www.somanetworks.com.
 
     About Temasek Holdings
     Temasek Holdings is an Asia investment company headquartered in Singapore.
 It is committed to maximising long-term shareholder value as an active
 investor and shareholder of successful enterprises. Established in 1974, it
 manages a diversified global portfolio of US$54 billion, spanning Singapore,
 Asia and the OECD economies. Its investments are in a range of industries:
 telecommunications and media, financial services, property, transportation and
 logistics, energy and resources, infrastructure, engineering and technology,
 as well as pharmaceuticals and biosciences. Singapore-based Temasek-linked
 companies include well-known listed firms such as Singapore Airlines, SingTel,
 DBS Bank, SMRT Corporation and Neptune Orient Lines.  Its investments overseas
 include ICICI Bank, Matrix Laboratories and the Apollo Hospitals group in
 India; Bank Danamon and Bank Internasional Indonesia in Indonesia; Quintiles
 Transnational Corp in the US; Hana Bank in Korea; China Power International
 and China Minsheng Banking Corporation in China; as well as Telekom Malaysia.
 For more information, please visit: http://www.temasekholdings.com.sg
 
     About Morgan Stanley Venture Partners
     Morgan Stanley Venture Partners manages a group of private equity funds
 that invest in high growth companies, concentrating on the information
 technology and health care industries. Since its inception in 1986, Morgan
 Stanley Venture Partners has managed over $1 billion of capital commitments
 and has invested in over 140 emerging growth companies. For more information
 about Morgan Stanley Venture Partners, please visit http://www.msvp.com.
 
 

SOURCE SOMA Networks, Inc.
    SINGAPORE and SAN FRANCISCO, June 12 /PRNewswire/ -- SOMA Networks, Inc.,
 a leading provider of last-mile broadband wireless access technology
 delivering multi-megabit broadband access and landline-quality voice services,
 today announced that it has secured $50 million in late-stage funding. Led by
 financial investors, Temasek Holdings Pte. Ltd. (Temasek), and Morgan Stanley
 Venture Partners, including participation from NeoCarta Ventures, Inc., and
 Endeavour Investments Limited, this round of $35 million complements $15
 million of strategic financing SOMA Networks closed in late 2004. The
 financing has been earmarked for global expansion as the company continues to
 deliver on numerous commercial contracts, network expansions, and the
 resulting growth in both domestic and international operations.
     "During the telecom downturn, SOMA Networks continued to invest heavily in
 enhancing the company's industry leading broadband wireless solution," said
 Pete Chung, Executive Director, Morgan Stanley Venture Partners. The company's
 focus on developing a complete wireless system that meets and exceeds customer
 expectations is driving impressive system performance and customer traction
 now that the market for broadband wireless has heated up globally. We were
 also impressed with SOMA Networks' ability to support both WiMAX and HSDPA
 standards on the same platform to service evolving customer demand for
 standards-based solutions. "
     Temasek Holdings, a Singapore-based investment company, has significant
 presence in the telecom industry with direct and indirect holdings in some of
 the largest South-East Asian telecom companies in countries such as Singapore,
 Australia, India, Malaysia, the Philippines, Indonesia, Taiwan, Thailand, and
 Hong Kong. We look for investment opportunities that are synergistic with our
 portfolio of investments. We are attracted to SOMA Network's global
 opportunity, strong intellectual property, and large market potential,"
 commented Dennis Siew, Managing Director of Strategic Development at Temasek.
     "We are pleased to have the financial backing of world-class partners like
 Temasek Holdings and Morgan Stanley Venture Partners as we continue to scale
 operations to serve the expanding global market," said Yatish Pathak, Founder
 and Chief Executive Officer of SOMA Networks. With the strong support of such
 distinguished financial institutions, SOMA Networks is well capitalized for
 continued growth in our target markets, while enabling long-term R&D
 initiatives to sustain and increase our technology lead."
 
     About SOMA Networks
     Integrating the latest advances in wireless broadband, distributed
 computing, and Internet technologies, SOMA Networks offers the industry's
 leading "last-mile" wireless broadband system.  With the SOMA(TM) solution,
 service providers can quickly and profitably roll out a feature-rich package
 of broadband Internet access and landline-quality voice service to the
 residential and small-office market.  Key advantages of the SOMA solution
 include its large cell size for quick and inexpensive market entry, multi-
 megabit data rates, voice capabilities, non-line-of-sight access enabling
 self-installation of the SOMAport(TM) wireless broadband gateway, subscriber
 self-activation of services, and the ability to support both WiMAX and HSDPA
 standards on a common platform. Founded in 1998, SOMA Networks has development
 centers located in San Francisco, California; Richardson, Texas; and Toronto
 and Ottawa, Ontario.  For more information about SOMA Networks, visit our
 website at http://www.somanetworks.com.
 
     About Temasek Holdings
     Temasek Holdings is an Asia investment company headquartered in Singapore.
 It is committed to maximising long-term shareholder value as an active
 investor and shareholder of successful enterprises. Established in 1974, it
 manages a diversified global portfolio of US$54 billion, spanning Singapore,
 Asia and the OECD economies. Its investments are in a range of industries:
 telecommunications and media, financial services, property, transportation and
 logistics, energy and resources, infrastructure, engineering and technology,
 as well as pharmaceuticals and biosciences. Singapore-based Temasek-linked
 companies include well-known listed firms such as Singapore Airlines, SingTel,
 DBS Bank, SMRT Corporation and Neptune Orient Lines.  Its investments overseas
 include ICICI Bank, Matrix Laboratories and the Apollo Hospitals group in
 India; Bank Danamon and Bank Internasional Indonesia in Indonesia; Quintiles
 Transnational Corp in the US; Hana Bank in Korea; China Power International
 and China Minsheng Banking Corporation in China; as well as Telekom Malaysia.
 For more information, please visit: http://www.temasekholdings.com.sg
 
     About Morgan Stanley Venture Partners
     Morgan Stanley Venture Partners manages a group of private equity funds
 that invest in high growth companies, concentrating on the information
 technology and health care industries. Since its inception in 1986, Morgan
 Stanley Venture Partners has managed over $1 billion of capital commitments
 and has invested in over 140 emerging growth companies. For more information
 about Morgan Stanley Venture Partners, please visit http://www.msvp.com.
 
 SOURCE  SOMA Networks, Inc.