John Imlay Jr.

Software and technology investor John Imlay Jr. has died.

Imlay was an angel investor in Atlanta’s tech industry and minority owner of the Atlanta Falcons.

The Atlanta Business Chronicle reports he died of a massive heart attack at his home yesterday. He was 78.

Imlay helped to build one of the most successful software companies, Management Science America Inc. (MSA), which served as an incubator for technology executives and startups.

Over 300 CEOs and around 100 companies came out of MSA.

In 1971 a bankrupt MSA approached 33-year-old Imlay asking for help with their debt. After narrowing the company's focus to software business, Imlay was able to relieve MSA of their debt and build a software powerhouse.

MSA was sold in 1990 for $400 million. Putting aside about $4 million of his share, Imlay invested in nearly 120 technology companies over the next few years.

Imlay retired from angel investing in 2010.

Contributors: Anna Barnes

Tags: John Imlay Jr., Atlanta investor, angel investor, Management Science America Inc.