Press Release |
Simplexity Launches as America's New Leader in Online Wireless Services
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-- Armed with InPhonic's Acquired Assets, Simplexity Launches as a New Company with New Vision and New Leadership -- RESTON, Va.--(Business Wire)--As a result of Versa Capital Management's acquisition of InPhonic's key assets and infrastructure, the newly formed and newly named Simplexity announced today its market launch as a leaner, retooled, refocused and financially stable company with several changes and enhancements. "Today we debut Simplexity, a new company armed with a strong management team, hundreds of talented employees, thousands of marketing partners and millions of existing and potential customers. Founded with the assets that made InPhonic a leader in the wireless industry and funded with substantial financial resources from investor Versa Capital Management, Simplexity launches as a leaner, retooled and stronger company with a bright future," said Andy Zeinfeld, Simplexity's CEO. "We are now able to focus on serving our customers, capitalizing on our leadership in the market, growing our business, strengthening our relationships with our partners, and driving new initiatives that leverage our award-winning technology platforms. This is a new day for us and we are very excited about our new vision and new direction." The launch of Simplexity is the end result of a massive overhaul and repositioning of InPhonic's former business and direction. Simplexity has: -- Focused the Company's business model around customer and partner satisfaction and experience; -- Established a strong lineup of products and services, creating the most competitive online offerings in the industry; -- Installed a new management team fully accountable to meeting company objectives; and, -- Re-engineered the business, eliminating all legacy debts and liabilities, and arming it with the financial resources needed to preserve and expand its market leadership. The Simplexity Brand "Our new name Simplexity embodies what we do and who we are as a company - 'simplifying complex transactions' in the wireless and home connectivity business for partners and customers. We make shopping for and purchasing complex products and services simple," added CEO Andy Zeinfeld. About Versa Capital Management Philadelphia-based Versa Capital Management, Inc., is a private equity investment firm which focuses on special situation investments including turnarounds, restructurings, reorganizations and recapitalizations in a wide range of industries and circumstances throughout the United States. More information can be found at www.versafund.com. About Simplexity Headquartered in Reston, VA, Simplexity, LLC is the leading online retailer of wireless services and products in America today. Simplexity's business and technology solutions include focused, branded merchandising, efficient order-processing and procurement, high-level customer care, billing and robust options for additional post-sale marketing. We operate private-label websites for some of the largest names in retail using an unrivaled, proprietary technology system. Simplexity also operates the popular site Wirefly (www.wirefly.com), the leading one-stop mobile phone and wireless plan comparison and shopping site that has been awarded "Best of the Web" by Forbes magazine and "Best in Overall Customer Experience" by Keynote Performance Systems. For more information about the company, its products and services, visit the Simplexity corporate website at www.simplexity.com. Simplexity Tripp Donnelly, 202-256-4254 email@example.com Copyright Business Wire 2008