Business
Geometrics Corporate Deal Upd
Geometrics Corporate Deal Upd.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n RNS Number : 3000Z Angle PLC 12 January 2011 \n \n\n \n \n\n\n\n\nFor immediate release\n\n\n12 January 2011\n\n\n\n\n \nANGLE plc (\"the Company\")\n \nGeomerics Corporate Deal Progress \n \nANGLE plc, which focuses on the commercialisation of technology and the development of technology-based industry, is delighted to announce that its portfolio company Geomerics Limited, which specialises in computer games middleware, has successfully completed the first milestone in its corporate partnership with one of the world's leading technology companies (\"Corporate Partner\") which was first announced in July 2010, resulting in a first milestone payment being received by Geomerics. \n \nThe partnership comprises both a cash investment and an ongoing partnership arrangement. The deal included investment of up to £2.3 million of which approximately £1.0 million was subject to the achievement of certain milestones. The name of Geomerics' Corporate Partner and other terms of the deal remain subject to strict confidentiality. \n \nANGLE believes that the partnership arrangement has placed Geomerics in a significantly stronger position to further develop and capitalise on its Enlighten product and underlying technology platform. \n \nThe value of ANGLE's holding in Geomerics on the balance sheet at the year end 30 April 2010 was £2.2 million and this remains unchanged. It is expected that, over the course of the corporate partnership, ANGLE's holding will remain above 30%. \n \n \nFor further information:\n \n\n\n\n\nANGLE plc\n\n\n01483 685830\n\n\n\n\nAndrew Newland, Chief Executive\nIan Griffiths, Finance Director\n \n\n\n\n\n\n\n\nCollins Stewart Europe Limited\nStewart Wallace\n \n\n\n0207 523 8350\n\n\n\n\nScott Harris \nStephen Scott, James O'Shaughnessy, Harry Dee\n \n\n\n0207 653 0030\n\n\n\n\n \n \nNotes to Editors\n \nANGLE plc \n \nFounded in 1994, ANGLE focuses 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. \n \nANGLE's specialist Management services business provides support on a fee-for-service basis to major clients around the ...