Last checked at 1 Mar 2011 07:00
For immediate release | 1 March 2011 |
ANGLE plc ("the Company")
Geomerics Real-Status deal
ANGLE plc, which focuses on the commercialisation of technology and the development of technology-based industry, is pleased to announce that its 35% owned portfolio company Geomerics Limited, which specialises in computer games middleware, has secured a 12% equity stake in Real-Status Limited worth £0.45 million in exchange for the right to use certain of Geomerics' non-core intellectual property.
Real-Status targets the $1.3 billion sector of IT dashboard and analysis software. Real-Status is due to launch its first product, which is currently in customer trials, in the second quarter of 2011. Real-Status has today announced completion of a funding round raising £1.2 million to commercialise this product and further develop its business.
Real-Status' product creates real-time 3D visualisation of computer networks and overlays performance and business metrics, enabling IT managers and Chief Information Officers to see a virtual model of their entire ICT infrastructure. This facilitates the rapid identification of issues and enables users to organise their network and IT systems to give optimal performance and utilisation. For more information, visit www.real-status.com.
The non-core intellectual property licensed to Real-Status is separate from and not dependent on Geomerics' core intellectual property. It was developed separately under a joint project with Intergence, part-funded by the UK Government Technology Strategy Board. Geomerics received grant income of £0.22 million in relation to this development work.
The value of the equity holding in Real-Status is based on the value attributed to Real-Status in its third party funding round. The deal generates a profit for Geomerics of £0.45 million. If Real-Status fulfils its potential in the emerging ICT visualisation market, Geomerics' equity holding in Real-Status has the potential to rise substantially in value.
Royce Murphy, CEO of Real-Status commented:
"We are delighted to have closed the funding round and intellectual property agreement with Geomerics. IT dashboard and analysis software is already a $1.3 billion market, and Real-Status' technology promises break-through products that will display virtual and physical infrastructure together in a scalable way. 2011 is set to be a very successful year for both Real-Status and our, soon to be announced, ICT modelling and visualisation product."
ANGLE Founder and Chief Executive, Andrew Newland, commented:
"The Real-Status deal provides Geomerics' shareholders with the potential for additional return without distraction of resources from the core business. Geomerics' business continues to strengthen. Sales of Enlighten, Geomerics' computer games lighting solution, are developing and its corporate partnership with one of the world's leading technology companies is progressing well with the first milestone successfully completed."
For further information:
ANGLE plc | 01483 685830 |
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
| |
Collins Stewart Europe Limited Stewart Wallace
| 0207 523 8350 |
Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee
| 0207 653 0030 |
Notes to Editors
ANGLE plc
Founded in 1994, ANGLE focuses on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients.
ANGLE's specialist Management services business provides support on a fee-for-service basis to major clients around the world involved in incubation, IP commercialisation, SME innovation and growth and the operation of science & technology parks.
ANGLE also owns a portfolio of company holdings with high growth potential in the medical and technology sectors. These have been developed whilst subsidiaries of ANGLE using its proprietary Progeny® process. ANGLE seeks to retain a substantial shareholding in these companies with a view to ongoing returns from dividend, milestone, royalty and capital returns.
ANGLE's technology commercialisation skills are of increasing relevance as global economies focus on regeneration, innovation and value added components to their industries. ANGLE's technology skills in IT and software, medical and life sciences, cleantech and renewable energies are directly relevant to major growth markets of the future and are marketed as specialised Management services.
ANGLE is quoted on AIM (AGL.L); further information can be found on www.ANGLEplc.com