Quovadx Announces Completion of Merger with Subsidiary of Battery Ventures

  
    
  
  
    
      Quovadx, Inc. (NASDAQ: QVDX), a global software and vertical solutions 
      company, today announced that at the special meeting of stockholders 
      held today, Quovadx, Inc.'s stockholders approved the Agreement and Plan 
      of Merger as amended and restated on May 4, 2007 (the "Merger 
      Agreement"), by and between Rogue Wave Holdings, Inc. (f/k/a Quartzite 
      Holdings, Inc.), a wholly owned subsidiary of Battery Ventures VII, 
      L.P., and Quovadx, Inc. In addition, Quovadx announced that it has now 
      completed the merger transaction.
    
    
      Under the terms of the merger agreement, Quovadx stockholders are 
      entitled to receive $3.20 in cash for each share of Quovadx common stock 
      held. Stockholders will shortly receive a Letter of Transmittal to use 
      in surrendering their Quovadx shares and to receive their cash merger 
      consideration. At the special meeting, approximately 85 percent of 
      shares outstanding as of the record date, May 29, 2007, were voted to 
      approve the Merger Agreement and the Merger. The shares that were voted 
      to approve the proposal constituted more than a majority of the issued 
      and outstanding shares of Quovadx common stock entitled to vote on the 
      proposal.
    
    
      In addition, Quovadx stockholders voted to approve the pre-closing 
      restructuring of Quovadx. Approximately 84 percent of shares outstanding 
      as of the record date, May 29, 2007, were voted to approve a pre-closing 
      restructuring under which Quovadx agreed to effect the sale of certain 
      assets used in the operation of its Integration Solutions division to 
      Quovadx Holdings, Inc. (f/k/a ISD Acquisition Corp.), a wholly owned 
      subsidiary of Battery Ventures, immediately prior to the closing of the 
      merger.
    
    
      The Merger Agreement, the underlying transaction and the pre-closing 
      restructuring proposal are described in Quovadx’s 
      June 18, 2007 definitive Proxy Statement as filed with the Securities 
      and Exchange Commission. Quovadx ceased to be a publicly reporting 
      company at the closing and its common stock ceased trading on the NASDAQ 
      Global Market Exchange at market close on July 18, 2007, and will no 
      longer be listed.
    
    
      About Quovadx, Inc.
    
    
      Quovadx (NASDAQ: QVDX) offers software and services for software system 
      development, extension, and integration to enterprise customers 
      worldwide. Quovadx has two divisions, including the Integration 
      Solutions division (ISD), which offers private and public healthcare and 
      healthcare IT organizations software infrastructure to facilitate system 
      interoperability and leverage existing technology, and the Rogue Wave 
      Software division, which provides reusable software components and 
      services for enterprise-class application development and 
      high-performance SOA. On July 18, 2007, Quovadx, Inc. completed a merger 
      with Rogue Wave Holdings, Inc. (f/k/a Quartzite Holdings, Inc.), a 
      wholly owned subsidiary of Battery Ventures VII, L.P.
    
    
      About Battery Ventures
    
    
      Since 1983, Battery has been investing in technology and innovation 
      worldwide. The firm partners with entrepreneurs and management teams 
      across technology sectors, geographies and stages of a company’s 
      life, from start-up and expansion financing, to growth equity and 
      buyouts.
    
    
      Battery has supported many breakthrough companies around the world, 
      including: Airespace (acquired by Cisco), Akamai Technologies (NASDAQ: 
      AKAM), Cbeyond (NASDAQ: CBEY), LIFFE (acquired by Euronext), and 
      Neoteris (acquired by Netscreen). Its current portfolio includes 
      emerging firms such as Advent Solar, BladeLogic, Lion Cells, Netezza, 
      Spot Runner, and Tejas Networks, as well as more established companies 
      such as ITA Software, Consona Corporation, MetroPCS (NYSE: PCS) and Nova 
      Analytics.
    
    
      From offices in Boston, Silicon Valley and Israel, Battery manages 
      nearly $3 billion in committed capital, including its current fund of 
      $750 million. For more information, visit www.battery.com.