Business
Geomerics Real-Status deal
Geomerics Real-Status deal.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 0271C Angle PLC 01 March 2011 \n \n\n \n \n\n\n\n\nFor immediate release\n\n\n1 March 2011\n\n\n\n\n \nANGLE plc (\"the Company\")\n \nGeomerics Real-Status deal \n \nANGLE 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.\n \nReal-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.\n \nReal-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. \n \nThe 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. \n \nThe 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. \n \n \nRoyce Murphy, CEO of Real-Status commented:\n\"We are delighted to have closed the funding round and intellectual property agreem...