ServiceSource Prices Follow-On Public Offering

San Francisco July 29, 2011 (GLOBE NEWSWIRE)- ServiceSource® (Nasdaq:SREV), the global leader in cloud-enabled service revenue performance solutions, today announced the registered public offering of 9,000,000 shares of common stock at a price of $17.50 per share. Of the shares being offered, 8,977,939 are being offered by certain existing shareholders. The Company is offering 22,061 shares. In addition, ServiceSource has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock at the offering price to cover over-allotments, if any. ServiceSource will receive proceeds only from the shares it is offering, including all proceeds from any exercise of the over-allotment option. The Company will not receive any proceeds from the sale of shares by the existing stockholders.

Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. are acting as the joint book-running managers for the offering. William Blair & Company, L.L.C., JMP Securities LLC, Lazard Capital Markets LLC, Piper Jaffray & Co., Oppenheimer & Co. Inc., Wells Fargo Securities, LLC and Credit Agricole Securities (USA) Inc. are acting as co-managers. A copy of the prospectus may be obtained from Morgan Stanley & Co. LLC, by telephone: (866) 718-1649; by standard mail at Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014; or by email: [email protected]; and from Deutsche Bank Securities Inc., by mail at Deutsche Bank Securities Inc., 100 Plaza One, Attention: Prospectus Department, Jersey City, NJ 07311; or by telephone: (800) 503-4611.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contact: Investor Relations Contact for ServiceSource:
The Blueshirt Group
Todd Friedman or Stacie Bosinoff
415.217.7722
[email protected]

Media Contact for ServiceSource:
Will Stickney
Horn Group for ServiceSource
415.905.4025
[email protected]

About Housatonic
Housatonic Partners is a private equity investment firm founded in 1994 with $1 billion in capital under management. The firm focuses on buyouts and recapitalizations of rapidly growing, profitable service businesses with highly recurring revenue. In partnership with exceptional management, Housatonic has led investments in more than 60 small to mid-sized companies. Visit Housatonic on the web at http://www.housatonicpartners.com.

Contact: Housatonic Partners:
William Kuntz
Housatonic Partners
415.955.4762
[email protected]