Geomerics Corporate Deal

RNS Number : 8790P

Angle PLC

26 July 2010

 



ANGLE plc ("the Company")

Geomerics Corporate Deal 

ANGLE plc ("ANGLE"), the international venture management company focusing on the commercialisation of technology and innovation, is delighted to announce that its portfolio company Geomerics Limited, which specialises in computer games middleware, has agreed to a corporate partnership with one of the world's leading technology companies ("Corporate Partner").    

The partnership comprises both a cash investment and an ongoing partnership arrangement.  The deal includes investment of up to £2.3 million of which approximately £1.0 million will be subject to the achievement of certain milestones.  The name of Geomerics' Corporate Partner and other terms of the deal are subject to strict confidentiality.

ANGLE believes that the partnership arrangement places Geomerics in a significantly stronger position to further develop and capitalise on its Enlighten product and underlying technology platform.

The value of ANGLE's holding in Geomerics on the balance sheet at the year end 30 April 2010 was £2.2 million (31 October 2009: £2.4 million) and this remains unchanged as a result of this corporate partnership.  It is expected that, over the course of the agreement, ANGLE's holding will remain above 30%. 

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 is an international venture management company focusing 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 companies with high growth potential in the medical and technology sectors in both the UK and the US.  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 venture management and 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, clean tech 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 

 

END

 

 

AGRSELFSIFSSEIW