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 years."
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 management.
