Strategic Buyout Expected to Position Angoss to Expand Its Leadership in
Fast-Growing Predictive Analytics Marketplace
SALT LAKE CITY and TORONTO, June 12, 2013 /CNW/ - Peterson Partners and
Angoss Software Corporation today announced the completion of their
previously announced plan of arrangement under which Peterson Partners
has acquired Angoss for $8.4 million. Pursuant to the plan of
arrangement, Peterson Partners has acquired all of the issued and
outstanding common shares of Angoss not owned by Angoss President and
CEO Martin Galligan or his associates for $0.525 per share in cash.
The plan of arrangement was approved by special resolution of Angoss'
shareholders and warrantholders at Angoss' annual and special meeting
of shareholders held on April 16, 2013. The final court order approving
the plan of arrangement was obtained on April 19, 2013. The common
shares of Angoss were delisted from the TSX Venture Exchange at the
close of business on April 29, 2013.
"This transaction bolsters our financial position moving forward and
enables us to sustain strong relationships with our valued customers
and employees," said Galligan. "Through a unique combination of
ease-of-use, flexibility and cost-effectiveness, our software products
and solutions meet the needs of all analytics users regardless of their
analytical environment or level of expertise. We are confident Peterson
Partners will prove to be an invaluable partner in accelerating our
growth and extending the power of predictive analytics."
Angoss delivers predictive analytics to businesses to help them discover
valuable insight and intelligence from their data, uncovering
opportunities to reduce risk and increase sales and profitability. The
company's predictive analytics software and solutions support R and big
data analytics, and improve data mining productivity for data-driven
decision making and performance.
"Predictive analytics represents an emerging space that we are thrilled
to enter with Angoss," said Brandon Cope, partner at Peterson Partners.
"In Angoss, companies have an ideal partner to gain competitive
advantage through data-driven decision making. We look forward to
helping Angoss realize their full potential in big data over the coming
Angoss joins Peterson Partners' current portfolio featuring a wide array
of high-growth, innovative companies across various industries,
including JetBlue Airways and Azul Airlines in travel, Ladder Capital
in financial services, QMC in communications infrastructure, CLEO in
software, Integra in healthcare services and Packsize in supply chain
About Angoss Software Corporation
Angoss is a global leader in delivering predictive analytics to
businesses looking to improve performance across sales, marketing and
risk. With a suite of desktop, client-server and big data analytics
software products and cloud solutions, Angoss delivers powerful
approaches to turn information into actionable business decisions and
competitive advantage. Angoss software products and solutions are
user-friendly and agile, making predictive analytics accessible and
easy to use. Many of the world's leading financial services,
insurance, retail, health care and information communication and
technology organizations use Angoss predictive analytics software
products and solutions to grow revenue, increase sales productivity and
improve marketing effectiveness while reducing risk and cost.
Headquartered in Toronto, Canada, Angoss has offices in the United
States and United Kingdom. For more information, visit www.angoss.com.
About Peterson Partners
Peterson Partners, based in Salt Lake City, Utah, is one of the
Intermountain West's most successful private equity firms. Specializing
in small to mid-sized companies, Peterson Partners has a track record
of successful investments including JetBlue, Vivint, EnergySolutions,
3form, Access CIG and Diamond Rental. Founded in 1995, Peterson
Partners has managed over $500 million in committed capital through
eight funds. For more information, visit www.petersonpartnerslp.com.
SOURCE: ANGOSS Software Corporation
For further information:
Peterson Partners PR
Alex Koritz, 801-461-9795
Angoss Software Corporation
Michelle Corsano, 416-593-2429