Axia Partners advises TimeLab in the Placement of $6,000,000
of Series A Convertible Preferred Stock

December 8, 2003
For Immediate Release

TimeLab, Corp. a leading provider of Integrated Circuit design IP and software tools that replace certain analog components with digital circuitry, today announced that it closed on a $6,000,000 private placement of Series A Convertible Preferred Stock. Matrix Partners and Northbridge Venture Partners co-led the investment.

TimeLab’s revolutionary design IP and software tools significantly reduce the cost, complexity, and risks of designing and producing SoCs (systems on a chip) by completely replacing certain widely used analog components with digital circuitry.

Axia Advisors provided consulting services to TimeLab related to this round of financing. “We were confident that we had a revolutionary technology and a strong technical team, but we had never raised private equity capital before,” explained Carlos Bielicki, CEO, TimeLab. “The guidance and consulting services provided by Axia Advisors were extremely valuable in closing this financing with top tier venture capital partners.”

About TimeLab Corp
Headquartered at 53 Stiles Road, Salem MA, TimeLab is a leading supplier semiconductor design IP and software configuration tools that enable the design of digital circuitry to replace certain functions that have traditionally been supplied in analog circuits.

About Axia Partners
Axia Partners is a private equity investment and advisory firm that is dedicated to increasing the equity value of our portfolio companies and clients through active participation that leverages the operational experience and in-depth market knowledge of our General Partners. Axia operates as both a private equity investment firm through Axia Capital and as financial advisors through Axia Advisors. Axia is unique in that we focus on these small to midsize transactions in the markets where we have demonstrated, real-world experience.


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