Member News Archive

April 2008

AT & T Unveils First AT & T Experience Stores in CT

AT&T Inc. today announced two AT&T Experience Store(SM) openings, one at Westfarms Mall in Farmington and one in Branford. These stores, which are the first in Connecticut and among only 16 in the country, give customers a new way to experience and shop for an array of communications and entertainment services.  Click here to read more.

Foster Founds New Company

Foster Corporation has announced the introduction of Foster Pharmaceutical, the new pharmaceutical branch of its current biomedical materials manufacturing business. Larry has appointed Tony Listro as Managing Director of the pharmaceutical group. Previously, Listro served as the Director of Applications Development Engineering at Foster Corporation.

 

From Computers to Sneakers

WeRecycle! will be a regional collection facility once again this year, for schools, municipalities, and other organizations in the area that would like to recycle old shoes! Nike accepts any brand of sneakers, and recycles them into surfaces such as tracks, basketball courts, and playgrounds.

College Transactions Just Got Easier

Higher One, the New Haven-based, financial services and payment company focused on higher education, has agreed to acquire the assets of EduCard, an affiliate of software developer Evisions. EduCard uses the Evisions Intellecheck technology to provide colleges and universities with paperless payment services through a stored value card. Financial terms of the acquisition agreement were not disclosed.

A Done Deal

Cronus Partners LLC announced this month that it acted as the exclusive financial advisor to Resolute TAP Services, LLC in its sale of substantially all of its assets to Vision Point of Sale, Inc. ResTAP Services, formerly headquartered in New Brunswick, New Jersey, provided information technology support services consisting of maintenance, installation, and related services to the self-service technology sector, including kiosks and other consumer-facing technology in a retail or other self-service environment.

Brightegg Launches Private Label Contact Management System (CMS)

Brightegg has launched its Private Label offering. It is built specifically for interactive design firms as well as other media companies that want to sell a web-based, 100% brandable CMS solution, giving their clients the ability to manage and market their own website and online business. With Brightegg PL, interactive design firms can offer a full-service solution for their clients, including hosting and email.

March 2008

Portfolio Company News

• Perimeter Acquires Seccas
• Nufern Acquired by ROFIN-SINAR
• IBM Honors CYA Technologies
• LegiTime Makes a Splash at DEMO 08
• EES to Demonstrate Solucorp Technology
• Premise Wins AHA Endorsement 

Alexion Clinical Trials in Japan
Alexion Pharmaceuticals has enrolled 29 people in an advanced study of its drug Soliris in Japanese patients suffering from a potentially fatal blood disease. The company will treat patients suffering from paroxysmal nocturnal hemoglobinuria, or PNH, with Soliris at clinical sites throughout Japan in June.

High Ranking

Cantor Colburn LLP has been recognized as a Go-To Law Firm® for Leading Technology Companies by American Lawyer Media (ALM) and has been ranked the #19 Top Patent Firm, out of more than 350, in the US by Intellectual Property Today magazine. The dual honors signal the consistent growth and strength of Cantor Colburn’s practice. Cantor Colburn recently moved to downtown Hartford from Bloomfield.

Kodak Buying Design2Launch

Eastman Kodak has announced it will acquire Design2Launch Inc. The deal is expected to close in about a month. Alison Malloy, its current CEO will become general manager of its Corporate Solutions Group, the unit Design2Launch is being merged into, and Design2Launch will become a Kodak product name.

February 2008

Skillproof Quoted in Washington Post, CNN Money, and IDG Network World

As part of an article about projects of IBM's Academic Initiative with universities in the United States, SkillPROOF was quoted yesterday about current trends in the IT job market:

"According to Connecticut-based labor demand research company Skillproof, the number of job openings for IT professionals in the United States increased by 45.2% from 2004 to end of year 2007, with open-standards and Web 2.0 development skills topping the list of job openings. Even as the number of IT jobs has declined from mid-2007 through early 2008, open-computing skills remain proportionately hot." CNNMoney.

January 2008

Connecticut Innovations Makes $500k Seed Investment in Frevvo Inc.

Frevvo's Live Forms product is an innovative Internet application for creating multi-functional, Ajax forms using just a web browser. Developers - you should look at this for form building...
Click here to read more.

 

Center for Entrepreneurship Celebrates A Year of Success

A year ago this month, UConn's Center for Entrepreneurship and Innovation (CCEI) opened for business in Connecticut and on Jan. 23, it officially moved into its new space in the Connecticut Center for Advanced Technology offices in East Hartford. An event held last week to recognize both milestones was attended by University President Michael J. Hogan; Lt.-Gov. Michael Fedele; State Senate President Donald Williams; the commissioner of Connecticut's Department of Economic and Community Development, Joan McDonald; state legislators; faculty; students; and business owners.

VBrick Sells to Temple University

Temple University is the latest of more than 1,000 educational institutions that have selected VBrick Systems Inc. to provide digital video. Temple's Tech Center is now using VBrick to stream cable television stations to student laptops and building PCs, providing access to 12 cable channel streams including CNN, ESPN and MTV, as well as CBS, ABC, FOX and other affiliates. Temple chose VBrick's digital video solution platform to record, steam and manage digital video across Internet Protocol networks.

Hamilton Sundstrand Makes Renewable Energy Deal

Hamilton Sundstrand Corp. has teamed up with a private equity firm to provide electric power to utilities using a new technology. Hamilton has entered a long-term, exclusive deal with US Renewables Group to supply equipment for converting solar energy to electric power through a process involving molten salt. A US Renewables company, SolarReserve, intends to sell the power systems to utilities.

Fuel Cell Energy Secures State Loan

Governor M. Jodi Rell announced last month that the state will provide a $4 million loan to FuelCell Energy Inc. to expand its Torrington plant. The $10 million project is expected to add 100 jobs.

Another Acquisition

In its 11th acquisition in the past four years, Perimeter eSecurity has announced that it has acquired a New York City-based firm that specializes in e-mail archiving. Financial terms of the deal, in which Perimeter acquired Secure Electronic Communication Compliance Archival System, were not disclosed. The New York City firm specializes in e-mail archiving for compliance-oriented industries.

Stamp of Approval for WeRecycle

WeRecycle!, Inc., an industry leading provider of IT asset recovery and recycling services, is now ISO 14001:2004 certified. The certification addresses WeRecycle!'s Environmental Management System and assures that it complies with the rigorous performance standards set forth by the International Standards Organization (ISO), a group that sets quality and environmental management standards for businesses.

Danbury Member Secures More Federal Research Dollars

The U.S. Department of Energy budget is providing $1 million in FY 2008 towards the development of Danbury-based Electro Energy's patented battery technology. The funding will help pay for Electro's continued development of its batteries for plug-in hybrid electric vehicles and other vehicle applications. The aim is commercialization of a new generation of smaller, lighter, and safer batteries with increased energy, reduced cost and higher power capability.

War Games

The Department of the Navy has awarded an $11.4 million contract to Sonalysts Inc. to develop computer software that can be customized to tutor individual sailors. The new "embedded training" software can be used in a classroom setting to teach the men and women who conduct submarine and surface warfare using aircraft to be air traffic controllers. The computer programs help students to master techniques and knowledge at their own speed.

Affordable Web Design

Digiwize has just launched an exciting new product for web site creation.The new effort is called Brightegg. It is a powerful web platform that enables businesses to build, manage and market a feature-rich, highly professional website at a cost-effective price. Brightegg targets organizations that want to grow online without spending thousands of dollars or hiring a full-time programmer, web designer and marketing expert.

December 2007

CuraGen names Cassidy CFO
Branford-based CuraGen Corp., a biopharmaceutical company, has named Sean Cassidy vice president and chief financial officer. Click here to read more.

 

Electric Boat awarded $11M contract
The U.S. Navy awarded an $11.4 million contract modification to Electric Boat, a subsidiary of General Dynamics, to manage and support nuclear-maintenance work for submarines at the sub base in Groton. Click here to read more.

 

German company acquires Nufern
An East Granby fiber manufacturing company has been acquired by Rofin-Sinar Technologies Inc., a company with headquarters in Michigan and Germany. Click here to read more.

 

Netkey Buys Georgia Company

Netkey Inc. recently expanded its presence in the rapidly growing digital signage industry by acquiring Alpharetta, GA-based Webpavement, one of the largest providers of software used for the operation and management of networks of digital signs.

 

Good Deal for the Smaller Companies

Comcast Corporation and Microsoft Corp have launched a new Internet-based communications product for small and medium-sized businesses (SMBs), giving SMBs access to services that have traditionally only been available to larger companies with IT staffs. Comcast’s SMB customers will be the first in the country to receive Microsoft Communication Services from Comcast, which will provide them with corporate-class e-mail, calendaring and document sharing. The product is Internet-based, so no additional server capacity will be required available and the services will be available at no additional cost with Comcast’s broadband services.

 

Donating Now Made More Easy

WeRecycle! Inc has become a Microsoft Authorized Refurbisher (MAR).  WeRecycle! can now install Windows 98, Windows 2000, Windows XP and Office XP on computers that are donated by businesses to eligible recipients. Becoming a MAR allows WeRecycle!'s customers to donate to their communities by providing reusable computers to those in need.  WeRecycle! and their clients can cost effectively install Microsoft operating systems on recycled computers which are then given to schools, nonprofits, and low income families. 

 

Medical Device Coating News

MysticMD Inc. has announce that California based Nanōmix Inc. has licensed its proprietary conductive coating technology for use in glucose detection.  This agreement is the culmination of a close relationship with Nanōmix that began a few years ago with a joint collaboration agreement between the two companies. This deal brings commercial opportunity in the multi billion dollar blood glucose monitoring market.

 

Open Solutions’ Hernandez Grabs More Honors

Open Solutions Inc. has announced that Open Solutions Chairman and CEO Louis Hernandez, Jr. was selected by Bank Technology News as one of “The Innovators 2007,” an annual ranking of the 25 most advanced people, companies and technologies in the financial industry. Hernandez was also one of the first 10 inductees into The Innovators’ Hall of Fame. Hernandez was recognized for his aggressive and innovative approach to open-architecture core processing technology strategies.

 

Applause for CI and another Life Sciences Investment

Connecticut Innovations Inc. has received a 2007 Excellence in TBED Award from the State Science & Technology Institute. The award, given in six categories, recognizes the best state and regional approaches to TBED - or technology-based economic development. The CII award highlights the organization's Eli Whitney Fund, through which CII has invested more than $100 million in over 60 emerging, Connecticut-based technology companies since 1995. Technology and bioscience seed funds have been established with a portion of the investment returns.

 

In other CI investment news, CI has invested $680,000 in Ipsogen, a life science company focused on the development and commercialization of molecular diagnostic tests that help oncologists determine the effectiveness of cancer treatments and guide therapeutic options. The money from CI will be used to help the company expand its operations in Connecticut. Ipsogen recently established its North American corporate headquarters in New Haven. The parent company is based in Marseille, France. The company's test kits are sold to clinical laboratories and hospitals worldwide.

 

Buy it at Cabella’s

QuikClot Sport is now being sold by sporting goods stores. The consumer version of what was a military medical tool until recently will now be available to hunters and other outdoor enthusiasts. QuikClot is made of an inert mineral material that almost instantly stops high-volume bleeding from open wounds outside an operating room setting. Z-Medica had not intended to develop a consumer-type version of QuikClot, but at the urging of Cabella’s brought the product to market. So now you can go to East Hartford to buy a bag.

 

A Roof with a Dip

You may have read back in August that The Connecticut Science Center roof was found to be off slightly. The Science Center's special construction inspector determined that it may not have been erected in exactly the right position. After extensive surveys and other analysis, the project team confirmed that the cantilevered portions of the Magic Carpet Roof were slightly out of position and began to work on a plan to correct them. The correction plan required a large crane to lower the east side cantilever in two sections and place it on the plaza level of the construction site for analysis and correction. The connections of the major roof sections will be revised, reconnected on the ground and surveyed for accuracy, then detached, raised, and re-assembled in their position 183 feet above. Engineers will then survey the work yet again to assure that it is correct.

 

Tangoe Wins Award

Tangoe, Inc. has received a 2007 “Product of the Year” award from Technology Marketing Corporation’s (TMC) Customer Interaction Solutions magazine. The prestigious award was given for Tangoe’s CommCare managed services solution offering, a suite of services for managing all processes associated with fixed, mobile, and converged communications.

 

 

First biodiesel station opens in Connecticut

Berkshire Country Store in West Cornwall. The Connecticut Center for Advanced Technology has launched a Small Business Incubator Program for biofuels and will offer up to $5 million in grants to biodiesel producers for equipment, storage and distribution. The incentives will include 30 cents a gallon for the first 5 million gallons produced, 20 cents a gallon for the next 5 million gallons, and 10 cents a gallon for the next 5 million gallons.

 

Connecticut earns energy gold star 
Connecticut is a leader in promoting clean energy. In a new report from Environment America , the Nutmeg State is among six others leading the nation in its policy initiatives to increase renewable energy, save energy and require more clean and efficient cars.

 

CTC has added nine new members in the last month.
They include: Prescients, LLC of Westport www.prescients.com, Imaging Solutions of Wallingford www.imagingsolutions.com, the Advanced Marketing & Media Group of Stamford www.theammgroup.com, Reality Interactive of Middletown www.realityi.com and DsignDigital of Hartford www.dsigndigital.com. Also joining are 568 Systems of Berlin, www.568systems.com, Nadicent Technologies of Glastonbury, www.nadicent.com, Trabertec of Hartford www.trabgertec.com, Materials Technology Corporation of Monroe, www.aboutmtc.com, Computer Aided Engineering of Middlebury, www.caeai.com and Huettinger Electronic of Farmington, www.huettinger.com.

 

Connecticut Innovations Appoints New President
The Connecticut Innovations’ (CI) board of directors has appointed Peter V. Longo President and Executive Director. Longo was serving as deputy director of CI and serving as the organization’s acting executive director. Longo has been with CI since 1995 when he joined as investment accounting director.

And This Open is Not About Golf

TopCoder®, Inc., will expand its annual programming competition this year (2008 TopCoder Open, May 11th to 15th, 2008 at The Mirage Las Vegas). This year's event is bigger and better, and will expand  the finalist pool by 50 percent by flying in 120 of the world's top software developers from around the world to match skills in a variety of competitions, from traditional algorithm, development and design tracks, to the newer TopCoder Studio for graphic design.

Electro Energy is Charged Up
Electro Energy Inc. has awarded by the U.S. Defense Logistics Agency a competitive contract for the manufacture and delivery of batteries for the U.S. Army Kiowa Helicopter. The batteries will be made in Electro Energy’s Colorado Springs, Colo., facility, which has also made batteries for the B-1 bomber, the B-2 stealth bomber, the B-52 heavy bomber, and the Apache and Cobra attack helicopters. 

College Innovation Competition Fostered by Competitive Technologies
Competitive Technologies has announced a competition for the spring of 2008 which encourages collegians at the undergraduate and undergraduate levels to submit their innovation ideas. The competition, which actually begins this fall, will award a top prize of $25,000. For more information contact Robert Taggert at 203.368.6044 or rtaggert@competitvetech.net 

Price Sells Two
This is old news, but in case you did not see this: Elaine Price has sold her two Shelton-based companies, Phoenix Systems Integration and Platform Dynamics US to Crown Partner in Ohio. Price will continue on as a senior member of the Crown Partners executive Team.  

UTRC Appointment
David Parekh has become director of the United Technologies Research Center and the company's vice president for research. 

It All Adds UP
ADNET Technologies Inc. in Windsor has bought Rocky Hill-based  Vested Technologies Inc. Connecticut Attorney's Title Insurance Co. created Vested Technologies more than a decade ago to provide information technology services to legal and mortgage real estate businesses in Connecticut. Terms of the deal were not disclosed.
 

Investment Banking Deal
Cronus Partners LLC (“Cronus Partners”) handled the leveraged recapitalization of Resolute Partners LLC (“Resolute”) in a transaction enabling the current management of Resolute to acquire a controlling interest in the business. Cronus Partners acted as the exclusive financial advisor to Resolute. The recapitalization was structured with a Senior Secured Credit Facility from Manufacturers and Traders Trust Company. Headquartered in Southington, Resolute has been providing internet connectivity and computer-based recreation services to U.S. military personnel and their dependents worldwide for more than a decade, including combat areas in the Middle East and Iraq.   

Top Flight Terra
Terra Technology (www.terratechnology.com), a provider of demand sensing and inventory optimization solutions for consumer products companies, has been recognized as one of Managing Automation’s Companies to Watch in 2008. Managing Automation’s Companies to Watch is a list of ten technology companies that provide an innovative solution manufacturers can adopt to gain a competitive advantage. 

CAPS is Growing
CAPS Business Recovery Services (CAPS), a leading provider of alternate sites for business continuity and disaster recovery in the Northeast (as well as planning services and related software), has completed agreements and plans for expansion of new sites in the Tri-state area (Northeast) and Southeastern United States. The new sites are located in Shelton, CT and Duluth, GA, with others also under consideration. The Atlanta area facility will be open in Q4 of this year, and Shelton in Q1 2008. 

Wipe the Hard Drive Too
WeRecycle!, Inc., an industry leading provider of environmentally sound electronics recycling and IT asset recovery, has selected Blancco’s LAN Server for digital data erasure services.  WeRecycle! Will now be able to offer clients the greatest array of physical and digital data destruction options.

Good Tech Policy
The Technology CEO Council, a Washington, D.C.-based policy advocacy group, has called on the federal government to strengthen research funding, open global markets and promote tax policies that encourage technology entrepreneurism. Called "The Great Nation," the report is meant to raise technology-related issues in advance of the 2008 presidential election. Members of the group include the heads of Hewlett-Packard, Dell, EMC, Intel and Motorola.

 

Hartford Member Sold
AutomationSolutions has been purchased by The Riverside Company. The company, which develops and distributes highly engineered automation solutions for original equipment manufacturers ("OEMs") in the Northeastern United States, is Riverside's 17th acquisition overall for 2007 and represents the 16th investment by the firm's Micro-Cap Fund ("RMCF"), focused on companies with EBITDA of $3 million or less.

 

Google Competitor
Xerox Corp. has introduced a "smart" search engine it says will help users perform more relevant Internet searches. Called FactSpotter, the software capitalizes on an increasingly popular field known as semantic searches that improves Internet research by analyzing the meaning of a question and a document to match the two for the best answer. The new tool was developed in part at the Xerox Research Center Europe in Grenoble, France.

 

VBrick and Industry Leader Polycom
Sign Deal
VBrick Systems, Inc has signed an agreement to join Polycom's ARENA partner program to deliver an interoperable, combined ecosystem for education, government, and corporate customers. Polycom, a leader in unified collaboration communications, initiated the ARENA program to allow software application providers, hardware device manufacturers, and conferencing solution providers to integrate their products with Polycom's platform.

 

Soliris approved in Europe
Alexion Pharmaceuticals Inc. has received approval from the European Commission top market its Soliris drug for the treatment of patients with paroxysmal nocturnal hemoglobinuria, a disabling and life-threatening blood disorder. Soliris, which has already been approved in the U. S., is the first therapy approved in Europe to treat the disease, the symptoms of which include severe anemia, disabling fatigue and recurrent pain. Alexion will begin reimbursement discussions with healthcare providers in major European countries immediately, and expects to introduce the drug in at least one country by the end of the year.

 

In "You likely Missed this Appointment" Category
EDGAR® Online, Inc. (NASDAQ: EDGR) announced in April that Philip Moyer will assume the position of President.

Summer Reading List
Dr. Morton L. Wallach, President and CEO of PEL Associates has published a fifth book in a series on "Advances In Polymer Technology And Applications

 

2006 Archives

 

2005 Archives