Angoss acquired by Peterson Partners for $8.4 million

Long-time analytics and data mining software developer Angoss Software acquired by a Utah-based private equity firm.

SALT LAKE CITY and TORONTO, June 12, 2013 /CNW/ - Peterson Partners and AngossAngoss Software Corporation 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 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.

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.

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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.