MASSACHUSETTS GOVERNOR PATRICK ANNOUNCES SMALL BUSINESS FINANCING, JOB CREATION INITIATIVES AT THINKING PHONE NETWORKS

CAMBRIDGE – September 15, 2011 – Massachusetts Governor Deval Patrick today announced a major statewide small business financing and job creation initiative at the offices of Thinking Phone Networks, an enterprise cloud communications service provider located here.  According to Patrick, the Commonwealth of Massachusetts will receive $22 million through the federal State Small Business Credit Initiative (SSBCI), funding that will leverage more than $220 million in private financing and bolster the Commonwealth's ongoing efforts to provide small businesses with the access to capital they need to grow and create jobs.

Governor Patrick announced that Thinking Phone Networks will receive a $1 million loan through the Massachusetts Growth Capital Corporation (MGCC), which provides capital to Massachusetts small businesses in flexible financing programs by supplementing the capital available from private financial institutions, including non-bank lenders, in order to promote the creation and maintenance of good jobs for Massachusetts residents.

“Small businesses like Thinking Phone Networks make up 85% of Massachusetts companies, employ a quarter of our residents, and are the engine of an economy that is on the move,” said Governor Patrick.

“Thinking Phone Networks continues to experience explosive growth which has been accelerating over the past year,” said Steve Kokinos, Thinking Phone Networks President & CEO. “We're excited to see the state helping support fast growing companies like ours through the MGCC, which in turns helps us accelerate our hiring and growth plans. Massachusetts offers a great business environment and this financing initiative is just one example of the importance the Commonwealth places on attracting and retaining young entrepreneurial companies such as ours. Massachusetts is a good place to do business.”

About Thinking Phone Networks

Thinking Phone Networks is focused on unified communications-enabling enterprise organizations to drive dramatic business process improvement and was recently named a “Visionary” by leading analyst firm Gartner, Inc. Our award-winning ThinkingSuite cloud ecosystem combines a powerful analytics engine and application integration with comprehensive unified communications capabilities on a single hosted platform.  ThinkingSuite communications services are deployed by hundreds of leading-edge enterprises at thousands of locations around the globe. Visit us at www.thinkingphones.com.

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