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Avangate Names Jeff Hodges As Chief Financial Officer

Veteran CFO Brings over 20 Years of Deep eCommerce and Payments Industry Expertise to Avangate

Redwood Shores, CA - April 16, 2014 - Avangate, the leading Digital Commerce solution provider trusted by thousands of Software and Online Services companies across more than 100 countries to grow their business worldwide, today announced the appointment of Jeff Hodges as Chief Financial Officer.

"We're excited to have Jeff join the Avangate team to help support our continued rapid growth trajectory," said Carl Theobald, President and CEO of Avangate. "Jeff has a proven track record with over 20 years of experience in taking companies to the next level and establishing corporate revenue growth and internal efficiencies in both private and public companies."

"In the last 5 years in the payments industry, the shifts in the buyer journey is increasing the need to not only support multiple business models and rapid product and pricing optimization, but to do so on a global scale. This is driving demand away from purely payment-centric solutions to more complete commerce-centric solutions," said Jeff Hodges, CFO for Avangate. "I'm thrilled to join Avangate as the Company delivers on its mission to be the best Digital Commerce solution for Software, SaaS and Online Services companies."

Prior to Avangate, Hodges was the Chief Financial Officer and Senior Vice President of Official Payments Holdings, Inc. Previously, Mr. Hodges served as CFO of Firethorn Holdings LLC and as CFO, SVP and Corporate Secretary of PRE Solutions Inc. and nFront, Inc. where he led its initial public offering. He is a Certified Public Accountant and a graduate of Auburn University with a degree in accounting.