ANGOSS Software Notes Technology Transfer Agreement
ACTION ITEMS

ANGOSS Software Corporation has announced that it has entered into a technology transfer agreement with Hummingbird Communications Limited 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, Eric Apps, President of ANGOSS, reported that 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 accomplishes three important objectives for ANGOSS", Apps commented. "First, it constitutes a significant endorsement of ANGOSS data mining technology and development capabilities by one of the major players in the data warehousing market. Second, it furthers our strategic objective of defining the industry standard for data mining technology in the business intelligence tools marketplace. Finally, it provides ANGOSS with the additional financial resources it requires to implement its other business objectives; enabling ANGOSS to capitalize more quickly on the growing awareness of data mining technology and its relevance to a broad range of vertical industry applications."

Ken Ono, Vice-President, Technology of ANGOSS noted that the transaction will result in increased brand awareness for KnowledgeSTUDIO and for ANGOSS among customers of Hummingbird and in the industry generally. "We are excited that Hummingbird has chosen KnowledgeSTUDIO as its technology of choice for integrating data mining functionality into its product offerings."

ANGOSS Software Corporation is a leading developer and vendor of data mining technology and related products and services for business intelligence and decision support solutions. The Company is headquartered in Toronto, Canada, with offices and resellers internationally in the United States, France, Germany, Italy, Japan, South Africa, Scandinavia, and the United Kingdom.