A lucrative financial exit for Anges Québec following acquisition of Anomalous Networks by Tangoe
Montreal, March 26, 2012– With the acquisition of Anomalous Networks by Tangoe, announced last January, Anges Québec members who invested in Anomalous Networks realized a very profitable exit less than 12 months after their $785 K investment in this Montreal-based telecommunications management company.
Leading US communications lifecycle management provider Tangoe acquired Anomalous Networks at the cost of $9 M. The real-time telecommunications expense management software solution for controlling the safety and costs of employee communications devices such as Smartphones, BlackBerrys and tablets developed by Anomalous Networks will complement and enhance Tangoe’s existing offer.
Jann Leemet, founder and former president of Anomalous Networks says, “We were fortunate to have experienced Anges Québec investors with us, as much for their financial support, as for their expert guidance and strategic advice.”
As Magaly Charbonneau, Angel investor and member of the Anomalous Networks board of directors, explained, “After receiving a financing offer and an acquisition offer, we went with Tangoe, whose global distribution network will boost the company’s growth. I’m extremely pleased with our return on investment and impressed with the quality projects Anges Québec brings us.”
Anges Québec vice president André Forest added, “This is good news for our Angel investors. Anges Québec brings private investors together with innovative companies across the province to help them attain their return and growth objectives for their mutual benefit. We now have investor groups in Montreal, Quebec City and Sherbrooke and we’re always open to new investors and to business projects with a strong potential.”
About Anges Québec
Anges Québec is a network of 85 private investors that identifies, finances and coaches innovative Québec enterprises with high growth potential. Anges Québec members invest their capital and expertise in the most promising start-up companies. In this capacity, Anges Québec works closely with a number of Québec leaders in the development and growth of technological innovations.
For more information, go to www.angesquebec.com
An English version is available online at www.angesquebec.com/en/nouvelles
To keep track of news and activities, join Anges Québec on LinkedIn.com.
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Source: Anges Québec