CounterPath Lists on NASDAQ
CounterPath Commences Trading on NASDAQ July 11, 2012
New York - July 11, 2012 - CounterPath Corporation (the “Company”) commenced trading on the NASDAQ Capital Market under the symbol “CPAH”. The stock is also traded on the TSX under the symbol “CCV”.
The Company’s listing on NASDAQ, which closely followed the completion of a successful (CDN)$3.66 million private placement in June of this year, underscores CounterPath’s steady growth since its inception in 2002.
An innovator in the voice over Internet protocol ("VoIP") , CounterPath has received recognition in 2012 as one of the "Top Mobile Technologies Companies in Canada" by the Branham Group and the ITSPA "Most Innovative VoIP Product Award" for their Bria iPad Edition. The Company recently partnered with Rogers to help develop Rogers One Number™; a service that allows Canadians to extend their Rogers wireless number to their computer using a web-based softphone. This technology is the first of its kind in the industry. It is expected that the VoIP market will see revenues of over $2 billion in 2012 alone (Visiongain: "The Mobile VoIP Marketing 2012 - 2017").
Covington has been an active investor in the Company since 2002 (via an investment in SIPQuest Inc. now CounterPath) and an integral part of its recent successes. CounterPathès success represents what a venture capital investment can accomplish, notes Will Jin, SVP Investments, Covington Capital. Covington has provided both monetary and strategic support throughout its evolution from a startup VoIP provider to the innovative industry leader they are today.
The listing on the NASDAQ will provide CounterPath with increased visibility throughout North America for their suite of products and support continued growth and innovation within the Company.
CounterPath is held in Covington Venture Fund.
Additional details may be found at
CounterPath’s SIP-based VoIP softphones are changing the face of telecommunications. An industry and user favorite, Bria softphones for desktop and mobile devices, together with the company’s server applications and Fixed Mobile Convergence (FMC) solutions, enable service providers, OEMs and enterprises large and small around the globe to offer a seamless and unified communications experience across both fixed and mobile networks. Standards-based, cost-effective and reliable, CounterPath’s award-winning solutions power the voice and video calling, messaging, and presence offerings of customers such as Alcatel-Lucent, AT&T, Verizon, BT, Mobilkom Austria, Rogers, Avaya, BroadSoft, Cisco Systems, GENBAND, Metaswitch Networks, Mitel and NEC.
About Covington Capital Corporation
Founded in 1995, Covington Capital Corporation (www.covingtonfunds.com) is one of Canada’s largest and most experienced venture capital fund providers. Managing approximately $400 million in venture capital assets on behalf of institutional and retail investors, Covington invests in small-and-medium businesses throughout many industry sectors. Covington Capital Corporation is headquartered in Toronto, Ontario.
For more information please contact:
EVP Sales and Marketing
Covington Group of Funds