London, UK (PRWEB) June 20, 2012
Agem Capital Management Ltd. (Agem Capital) today announced the London-based advisory boutique is at the helm of the last round of private placements of the data mining software developer, EvText, Inc. ”We have created a niche opportunity to get in on the ground floor of this success story at a discount without having to pay the liquidity premium,” said the CEO at Agem Capital.
In excess of $20 million is expected in sales by the 5th year, with the free cashflow being $ 12.4 million by 2016. Using a 5-year cashflow projection model with a 10% discount factor, the project value is more than $ 7.7 million based on the value of the IP, according to analysts at Agem. The core technology of the IP is a data mining engine built on evolutionary algorithms, making data acquisition and structuring simple and fast. Automatic data retrieval and conversion solutions are highly demanded by data vendors and resellers, stock market analytics providers, XBRL filers, auditors, consulting firms, corporate ERP (enterprise resource planning) software providers. In fact, BoardSuite Corp., one of Canada’s leading Web 2.0 pioneers, the cloud-based ERP software-as-a-service (SaaS) provider headed by the founder of BabelFish, was interested in the acquisition of EvText, Inc. ”We didn’t want the buyout. We went on to develop our technology,” said Maksim Koroteyev, Director of EvText, Inc.
Following equity line funding during the R&D stages by foreign venture capital, the company are now planning a float on alternative OTC markets with global scale. ”We are looking at several options. The JOBS Act in the States is now good news for small companies across the capital markets, though a foreign listing could likely funnel more capital into the balance sheet,” commented one person familiar with the situation at EvText, Inc. It has been confirmed the company elects a platform where regulations are not conflicting with the interests of private investors.
In several years of research and development, EvText, Inc. have developed a breakthrough data mining platform, simply accessible online cloud services in a user-friendly interface. ”The code applies to any type of conversion from unstructured to structured formats, thus both financial software developers and audit firms can easily decrease input costs by licensing our data mining engine to process data in their own products”, said Mr. Koroteyev.
With management support from Agem Capital, plans for the partial listing are progressing swiftly. No final decision has been made on the stakes of the business to go public, but people close to the situation agree the float can be expected to be completed within the next financial quarters.
About EvText, Inc.:
The software company headquartered in Brooklyn, New York City provides unique cloud-based data mining and data retrieval platforms. The EvText team has over 35 years of experience in Artificial Intelligence R&D from both the former Soviet Union and the USA, where the company owns several patented data mining technologies with proven track record in corporate applications.
About Agem Capital:
Agem supplies creative business consulting services regarding global capital market solutions and access to alternative platforms for foreign SMEs and investment firms. The company is based in Mayfair, London.