Press Releases

Panache Services, Inc. Closes Global Infrastructure Partnership, Including $30 Million Commitment for Private Equity Funding

Santa Clara, CA—July 30, 2004—Panache Services, Inc. today announced it closed a global infrastructure partnership, including a $30 million commitment for private equity funding. A new style of Customer Service and Support company, Panache was founded in November, 2003 by industry veterans Doug Holden and Manish Gupta. “We founded Panache to address the growing demand for a US-based company which can provide globally sourced customer service and support solutions”, said Doug Holden, Chairman and CEO of Panache. Holden said the funding will be used to build infrastructure for global delivery, to scale the operations and for working capital.

“Our partnership with Zoom Developers, Ltd. is much more than a financial relationship. Zoom has a rich tradition of developing infrastructure and managing large, global projects, and they are committed to the Technology marketplace”, says Holden.

In a related move, Panache changed its name to iSmart Panache to better align itself with the family of technology companies operated by Zoom, which are grouped under the iSmart brand worldwide.

About the Founders

The two founders each have 10-15 years experience working in the High Tech industry and selling to Fortune 500 clients. They have worked together for five years, and this is the third company where they have worked together.

Doug Holden was an Executive Vice President for KPMG consulting where he was the overall Solutions Leader and the Global CRM Leader. He also was the CEO for a publicly traded professional services company.

Manish Gupta has extensive experience in the Strategy and Technology consulting business and has worked with KPMG Consulting and Cap Gemini Ernst & Young. Manish has successfully built and led world class solutions, sales and global delivery operations as well as structured various JVs and acquisitions.

About iSmart Panache

Panache is committed to supporting the value chain of technology companies, including software, manufacturing and telecommunications. They provide integrated services to increase top line revenue and improve bottom line results. Their services include product engineering, Level 1, 2, and 3 technical support, and extended services, all delivered through a global support infrastructure.

ISmart Panache can be contacted at (408) 735-9100 or at info@iSmartpanache.com.