Goldman Sachs and NEA Become Ideiasnet’s Partners in Spring Wireless

    RIO DE JANEIRO, Brazil, Aug. 22 /EMWNews/ -- Spring

Wireless (Spring), a leading company in mobile business solutions in Latin

America, has just received a cash infusion of US$ 56 million from Goldman

Sachs, the U.S. venture capital firm New Enterprise Associates (NEA) and

Ideiasnet.



    Spring was valued at US$ 110 million pre-money for this transaction and

will have a post-money value of US$ 140 million. Using this valuation as

the basis for calculation, the return for Ideiasnet shareholders since its

investment in December 2004 is approximately 450%. Ideiasnet will continue

to have a Board seat and will own 10.2% of Spring. It is the intention of

the shareholders to take Spring public during 2009 through an IPO in the

NASDAQ market.



    The investment by NEA, the firm's first in Latin America, and Goldman

Sachs is the kind of transaction that Ideiasnet is pursuing for its

portfolio as well as future opportunities: "We hope that this investment in

Spring is the first of many deals that we do with NEA, Goldman and other

big foreign investors and venture capital funds involving Ideiasnet

companies," said Luis Alberto Reategui, CEO of Ideiasnet.



    SPRING WIRELESS - http://www.springwireless.com.br



    Spring Wireless, elected as the best software company in Brazil in 2007

by Exame magazine, the leading business publication in the country, is

growing very strongly and expanding at a fast pace internationally, with a

presence in 16 countries currently. The funds raised will be used to

accelerate such growth and expansion and for future acquisitions.



    GOLDMAN SACHS - http://www.gs.com



    Goldman Sachs, a global investment bank, leader in mergers and

acquisitions, offers a broad set of services to a client base comprised of

corporations, financial institutions, governments and high net worth

individuals.



    NEA - http://www.nea.com



    New Enterprise Associates, founded in 1978 in the Silicon Valley,

California, is one of the largest and most traditional companies of venture

capital in the United States that invests, among others, in technology

companies. NEA has been responsible for over 160 IPOs of companies in the

USA since its establishment.



    IDEIASNET - http://www.ideiasnet.com.br



    Ideiasnet, a company whose shares are traded in the Bovespa (IDNT3),

invests in companies operating in the Technology, Media and

Telecommunications (TMT) sector. With the purpose of maximizing value for

its shareholders, Ideiasnet helps the companies of its investment portfolio

in defining strategies, financing, and mergers and acquisitions.



    Ideiasnet



    RI - [email protected]



    Tel.: +55 21 3206-9234