Rogue Wave Press Release

Software Industry Veteran Bart Foster Named President and CEO of Rogue Wave Software, Inc.

Battery Ventures Completes Acquisition; Leadership Team Primed for Growth

BOULDER, Colo., July 24, 2007 — Rogue Wave Software, Inc. a supplier of software development solutions for high-performance business applications, today announced that Bart Foster has been named as its new president and CEO. Foster, who brings 20 years of market-defining experience to the company, is joined on the executive team by Kevin Naughton as vice president and CFO. Following Battery Ventures' July 18 buyout of Quovadx, Inc., Rogue Wave, formerly a division of Quovadx, will now operate as an independent organization. Battery is a technology venture capital and private equity firm with nearly $3 billion under management.

Rogue Wave technology enables architects and developers to deliver the performance and agility that businesses demand without requiring expensive upgrades and programming that will force them to discard existing technology investments. The company's Rogue Wave® Hydra Suite is a SCA runtime that lets users build Service-Oriented Architecture (SOA)-based applications to leverage concurrent processing within and across servers, while preserving critical application logic written in C++ and Java. The SourcePro® C++ solution set consists of cross-platform C++ development components designed to facilitate the delivery of effective applications that are on time, on budget and work exactly to specification.

With nearly two decades of experience in the software industry, Foster has a proven track record of working with existing companies to leverage legacy and emerging technologies to lead innovation and meet market demand. Foster most recently served as an investment and restructuring advisor to leading private equity firms, including Battery Ventures, Francisco Partners, Warburg Pincus and Golden Gate Capital. He previously served as CEO of DecisionPoint Software, which was acquired by NCR/Teradata in 2005. Foster has also held senior marketing, sales and business development roles at Informatica and Oracle. He holds a bachelor's degree in economics from Stanford University and master's degree in business administration from Harvard University.

"Rogue Wave has solidified its market position and is widely regarded for its thought leadership and innovation," said Foster. "With Battery's backing, we are in a strong position to extend our success in the C++ marketplace and expand the cutting-edge, industry-changing technologies we provide. Rogue Wave has an experienced leadership team that will remain 100 percent focused on continuing to deliver the highest-value product set to our customers."

As the new CFO and vice president at Rogue Wave, Naughton is responsible for directing the company's financial programs, supporting business planning processes, running future M&A activities and acting as a liaison to current and future shareholders. Previously, Naughton was a senior vice president and CFO of GTESS Corporation. He has also served as CFO and COO of Pavilion Technologies, CFO of S2 Systems and held various finance and controller positions at Stratus Computer and Computervision Corporation. Naughton received a bachelor's degree in accounting and a master's degree in business administration from Bentley College.

Foster and Naughton are joined on the executive team by two experienced Rogue Wave veterans: Tom Gaunt, senior vice president of sales and service, and Patrick Leonard, vice president of products.

About Rogue Wave Software

Rogue Wave Software, Inc. provides reusable software components and services for enterprise-class application development and high-performance Service-Oriented Architecture (SOA). Today, thousands of developers at many of the world's leading companies have used Rogue Wave® products to develop mission-critical applications. Rogue Wave Software operates throughout the United States, Europe and Asia. For more information, please visit www.roguewave.com.

###

Rogue Wave and SourcePro are registered trademarks of Rogue Wave Software, Inc. in the United States and other countries. All other company and product names mentioned may be trademarks of the companies with which they are associated.

Contact:

Megan Garnett
Articulate Communications Inc.
Phone: 212.255.0080, ext. 14
E-mail: mgarnett@articulatepr.com