New US Venture

29 Apr 2005 07:01

Angle PLC29 April 2005 For Immediate Release 29 April 2005 ANGLE PLC ESTABLISHMENT OF NEW US VENTURE ANGLE plc, the venture management and consulting company specialising in thecommercialisation of technology, is pleased to announce the establishment of itslatest US-based venture, currently named ContraSoft. ANGLE has securedintellectual property for ContraSoft in the field of computer software testingdeveloped by a team led by Dr. William Rogers. Under the new agreement, ANGLE has an option to intellectual property (IP)developed by Dr. Rogers. This IP offers the potential to change the approachused worldwide for software testing, with substantial improvements inproductivity, reduced costs and improved software quality. The market forsoftware testing tools was over $1.0 billion in 2004 and is projected to grow at9.3 per cent. per annum from 2003 to 2008 according to market research firm IDC. In accordance with ANGLE's Progeny(R) process for creating new ventures, ANGLE'splan is to undertake the technology commercialisation and product launchbuilding value in ContraSoft. Dr. Rogers has been active in many different aspects of the computer industry,including software development, corporate management, research, and teaching.Dr. Rogers was previously an Assistant Professor of Electrical and ComputerEngineering with the University of Texas. He has also taught courses forbusinesses including IBM, Motorola, Hewlett Packard, Agilent and AMD. Dr.Rogers has had previous commercial success, having owned and run a small companyand managed research and development for a small multinational software company.He received his Master's and PhD from the University of Illinois atUrbana-Champaign and his BSE from Tulane University. ANGLE's Chief Executive Andrew Newland said: "We are delighted to be working with Dr. Rogers to bring this excitingtechnology to market. We believe the software testing market is a substantial,fast growing market long over due for a new approach." Dr. William Rogers commented, "The ANGLE model of combining management expertise and initial capital was veryattractive to me. I think it is a unique model and will accelerate thedevelopment of the company." For further information: ANGLE plcAndrew Newland, Chief Executive +44 (0)1483 295830Dawson Buck, Deputy Chief Executive Buchanan Communications +44 (0)20 7466 5000Richard Darby, Suzanne Brocks, James Strong Notes to Editors Founded in 1994, ANGLE is an international venture management and consultingcompany focusing on the commercialisation of technology and the development oftechnology-based industry. ANGLE creates, develops and advises technologybusinesses on its own behalf and for its clients. This information is provided by RNS The company news service from the London Stock Exchange