HERNDON, Va., March 27, 2008 – Parallels today announced it has acquired ModernGigabyte, LLC, maker of ModernBill automated billing system and other hosting automation solutions. ModernBill customers will benefit from Parallels Open Platform initiatives such as the Application Packaging Standard which will allow them to gain additional revenue from their existing client base.ModernBill customers benefit from tighter integration with Parallels products as well as from the Parallels Open Platform architecture, which includes the Application Packaging Standard (APS).

The acquisition provides Parallels with a complete hosting control panel and billing system for small-to-medium-sized service providers and hosting resellers who purchase dedicated servers with pre-loaded software. Now, service providers can integrate with over 15 popular control panels supported by ModernBill and benefit from special bundled offerings with the Parallels Plesk Control Panel.

ModernGigabyte is based in Louisville, Kentucky and provides software to nearly 15,000 hosting resellers with over 2 million customers worldwide.

“Parallels acquisition of ModernGigabyte gives service providers a competitive edge by providing a complete hosting solution that integrates back-office software with Parallels control panels,” said Serguei Beloussov, CEO of Parallels. “The acquisition also opens up new sales channels for software vendors that develop applications based on the Application Packaging Standard (APS), which will drive greater adoption of software-as-a-service (SaaS) solutions.”

“ModernGigabyte customers will benefit from Parallels industry-leading virtualization and automation solutions, depth of resources and support, and strategic focus on the hosting industry,” said Jonathan McCarrick, vice president of Sales, ModernGigabyte. “ModernBill is already integrated with many of Parallels hosting products, so now customers will be able to purchase the software as part of a pre-integrated solution from the same company.”

In addition to the ModernBill software, Parallels is acquiring and will continue to support ModernGigabyte’s other hosting solutions including ModernAuthorize, SSL Factory, ModernDNS and FraudGuardian. The acquisition builds Parallels portfolio of automation software, which has grown in the last year through acquisitions including Helm, Sphera, Positive Software and Ensim Pro.

Parallels will continue development of the ModernBill platform and will provide ongoing support for ModernGigabyte products through existing ModernBill support channels.

Customers with specific inquiries can find more information at www.parallels.com/modernbill.

Financial details of the transaction were not disclosed. Both companies are privately held.

The Parallels Open Platform enables hosting with Parallels virtualization and automation technology through integration with a wide range of third-party applications and systems. The APS Standard, a key element of the platform, is used by Independent Software Vendors (ISVs) and service providers to seamlessly integrate applications to offer to the more than 10 million businesses and individuals that use Parallels products

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