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Gold/Mining/Energy : Angoss Software Corp. V.ANC
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To: Abbeydale who wrote (389)10/1/1998 8:28:00 PM
From: Abbeydale  Read Replies (1) of 1006
 
Subject: Stockwatch: Angoss Software Corporation - News Release
Date: Thu, 01 Oct 1998 14:36:59 -0700
From: newsout@canada-stockwatch.com

Technology transfer agreement with Hummingbird

Angoss Software Corporation ANC
Shares issued 33,902,713 Sep 30 close $0.06
Thu 1 Oct 98 News Release
Mr. Eric Apps reports
Angoss has entered into a technology transfer agreement with Hummingbird
Communications with respect to KnowledgeSTUDIO, the data mining workbench
developed by Angoss.
Under the agreement Hummingbird has acquired from Angoss the right to
incorporate the source code for KnowledgeSTUDIO, KnowledgeSERVER and
related components into Hummingbird's future product offerings. The
agreement builds on the previous integration of KnowledgeSEEKER, another
Angoss data mining software application, with Hummingbird's products.
Although specific terms of the transaction were not disclosed, the revenues
initially receivable under the transaction make it the single largest
transaction by revenue reported by Angoss since it entered the data mining
application development business in 1993.
This transaction provides Angoss with the additional financial resources it
requires to implement its other business objectives; enabling it to
capitalize more quickly on the growing awareness of data mining technology
and its relevance to a broad range of vertical industry applications.
The transaction will result in increased brand awareness for
KnowledgeSTUDIO and for Angoss among customers of Hummingbird and in the
industry generally.
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