Author: Robert Buderi

Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative. Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.

Iomega Accepts $213M EMC Purchase Offer

It’s official. Just weeks after EMC sweetened its previously spurned purchase offer, San Diego-based storage maker Iomega has formally accepted a takeover bid from the Hopkington, MA-based data management and infrastructure company, the two firms announced today. The final price of approximately $213 million, or $3.85 per share, is slightly higher than the sweetened $205.5 … Continue reading “Iomega Accepts $213M EMC Purchase Offer”

New IDG Capital Fund Thinking Big, Thinking Global

No press release. No fanfare. Just Pat McGovern talking to VentureWire. And so, the existence of IDG Capital was brought to public attention yesterday. The IDG chairman is forming the new organization to centralize a large portion of his far-flung venture operations. And he’s beginning with the goal of raising $1 billion, as the fund … Continue reading “New IDG Capital Fund Thinking Big, Thinking Global”

Harvard’s Guru of Tech Transfer: More Seed Funding, Industry Deals Afoot—and the Social Mission is Key

Harvard has taken a bit of a bashing over the years on the tech transfer front. After all, MIT, the champion of university technology transfer and licensing, is right down the river, and at least some business leaders and alumni feel the school should be doing more to match its neighbor in commercializing its pioneering … Continue reading “Harvard’s Guru of Tech Transfer: More Seed Funding, Industry Deals Afoot—and the Social Mission is Key”

EMC’s Pricey New Offering for Chinese Consumers and Small Businesses—Bad Guanxi?

Updated, April 5, 2008—We’ve written a few times about EMC’s (NYSE:[[ticker:EMC]]) carefully crafted strategic push toward cloud computing and software as a service offerings—and how that relates to the enterprise-oriented company’s courting of small and medium businesses and consumers. Two vivid examples of this push are the Hopkinton, MA-based company’s acquisition last fall of Berkeley … Continue reading “EMC’s Pricey New Offering for Chinese Consumers and Small Businesses—Bad Guanxi?”

It’s Official: IPOs and M&As Plummeted in First Quarter—New England Exits Hard to Find

Updated and corrected, April 1, 5:15 pm—see note below It’s not like we needed a financial report to tell us that things were rotten for investors looking for an exit—but the National Venture Capital Association and Thomson Financial are providing just that. Only five venture-backed firms managed to go public in the first quarter of … Continue reading “It’s Official: IPOs and M&As Plummeted in First Quarter—New England Exits Hard to Find”

Vertex Jumps More Than 25 Percent on Hepatitis Drug Data

Vertex Pharmaceuticals (NASDAQ:[[ticker:VRTX]]) of Cambridge, MA, saw its stock soar today after preliminary data from a small ongoing trial of its oral hepatitis C drug Telaprevir were released in a conference abstract. The abstract indicated that patients for whom standard hepatitis treatments had previously failed responded well to Telaprevir. The data are scheduled to be … Continue reading “Vertex Jumps More Than 25 Percent on Hepatitis Drug Data”

FIRST Robotics Update—Menino Wowed, Big Crowd, Really Loud

Saturday’s regional high school robotics competition held at Boston University’s Agganis Arena event set records for attendance, mayoral wowing, and sci-tech luminary gazing. Two teams from Massachusetts, one from New Hampshire, and one from New York state were among the big winners. That’s the report from Xconomist Marc Hodosh, chair of Boston FIRST (For Inspiration … Continue reading “FIRST Robotics Update—Menino Wowed, Big Crowd, Really Loud”

Microsoft Boosts Kerberos Consortium

Microsoft has joined the MIT Kerberos Consortium as a founding sponsor, nudging the organization closer to its goal of establishing Kerberos as a universal authentication platform for computer networks, MIT officials announced today. A representative of the software maker will join counterparts from Sun, Google, and Apple on the consortium’s executive board. Although Kerberos was … Continue reading “Microsoft Boosts Kerberos Consortium”

IRobot CEO Angle Lands Role in MIT Blackjack Movie

If you’re headed out to catch 21 on its opening night, keep your eyes peeled for a real-life MIT celebrity among all the Hollywood celebs posing as MIT card counters. IRobot CEO Colin Angle—who founded the Burlington, MA-based firm with fellow MIT alum Helen Greiner and MIT professor Rod Brooks—plays Professor Hanes in the film. … Continue reading “IRobot CEO Angle Lands Role in MIT Blackjack Movie”

Harvard Taps Former Officer to Manage Endowment

Harvard Management Company announced today that it has selected former senior investment officer Jane Mendillo to oversee the university’s vast endowment. Mendillo, who had previously served at Harvard Management for nearly 15 years, left in 2002 to become chief investment officer of Wellesley College. Harvard’s endowment was valued at $34.9 billion as of June 30. … Continue reading “Harvard Taps Former Officer to Manage Endowment”

Of Card-Counting, Startups, and the Real Story of the MIT Blackjack Team

(Updated, March 27, 6:45 pm—see editor’s note, p. 2) The house was on Inman Street, near Cambridge’s Central Square. Peter Woit recalls the morning he came downstairs and found his roommate obviously upset. “John, what’s wrong?” he asked. “Have you seen a dirty pink laundry bag?” came the response. “No, why?” “There was $80,000 in … Continue reading “Of Card-Counting, Startups, and the Real Story of the MIT Blackjack Team”

Two Highland Funds Join Forces to Lead $20 Million Funding Round for Pharmaca Retail Chain

Envision a drug store where conventional prescriptions, treatments, and toiletries are co-mingled with natural health care products and you have the core vision behind Pharmaca Integrative Pharmacy. Right now, the Boulder, CO-based retail chain has just 20 stores, but it plans to grow fast—adding another dozen stores per year. And two local venture funds, Highland … Continue reading “Two Highland Funds Join Forces to Lead $20 Million Funding Round for Pharmaca Retail Chain”

Basho’s Cambridge Bash

Usually companies grow up and leave Cambridge, MA, for cheaper real estate climes out in the suburbs. But Burlington, MA-based Basho Technologies, which makes software to help salespeople analyze revenue pipelines and forecasts, announced today that it was moving to Cambridge— citing the city’s “unparalleled access to the technology community” as a means of accommodating … Continue reading “Basho’s Cambridge Bash”

Early Stage Life Sciences Pitches—12 Firms Looking for Funding

Whether it’s to learn about new approaches to cancer treatment, better ways to harvest stem cells, or cutting edge arthritis and anxiety drugs, I always have a good time at events like yesterday’s Early Stage Life Sciences Conference. That’s because you meet people with fascinating ideas and technologies they think will change the world (and … Continue reading “Early Stage Life Sciences Pitches—12 Firms Looking for Funding”

VMware to Invest $100M in India R&D Efforts

VMware (NYSE:[[ticker:VMW]]), the virtualization subsidiary of Hopkinton, MA-based EMC (NYSE:[[ticker:EMC]]), announced today that it would invest $100 million in India by 2010 to expand its existing research and development presence in that country. The investment will include building a new, 82,000-square-foot development center in Bangalore and doubling its local engineering organization to more than 1,000 … Continue reading “VMware to Invest $100M in India R&D Efforts”

Want to Listen to Me Blather on About Our Blog and the Exponential Economy?

Talk about turning the tables. It’s usually we reporters and writers that tap into the knowledge of public relations people—-occasionally interviewing them but often working with them to find the right people to speak with at companies and organizations. They don’t interview us, usually. But since Xconomy is a relatively new publication, PR people have … Continue reading “Want to Listen to Me Blather on About Our Blog and the Exponential Economy?”

Convergence: The Life Sciences Leaders Forum

The annual, invitation-only Convergence forum is one of our favorite events, focusing specifically on life sciences and drawing a great crowd of life sciences and biotech executives, researchers, and investors to a fantastic setting on Martha’s Vineyard. One tip for the restaurants down there: bring your own wine.

EMC: Before Acquiring, Check the Wiring

Consider a few names: Documentum, RSA Security, Tablus, VMware, Berkeley Data Systems (parent of Mozy). That’s a very abbreviated version of what’s getting to be a long and pretty illustrious list of acquisitions made by EMC (NYSE:[[ticker:EMC]]) in recent years. And just in the last few weeks, the Hopkinton, MA, firm announced a couple more … Continue reading “EMC: Before Acquiring, Check the Wiring”

MIT Deshpande Center Announces $500,000 in Grants to Speed Innovations to Market

MIT’s Deshpande Center for Technological Innovation announced today that it has awarded $500,000 in grants to help seven institute research teams move their technologies closer to market. The funded projects address a wide array of areas that include improving hearing aids, better wireless broadband transmitters, bioassays for bedside diagnostics, a new approach to semiconductor fabrication, … Continue reading “MIT Deshpande Center Announces $500,000 in Grants to Speed Innovations to Market”

IPO Market in Tailspin—Pogo Jet Latest to Pull Offering

Just four weeks ago, we wrote about Pogo Jet setting its IPO terms—noting that while other firms were taking flight from their initial public offering plans as the economy went into a nosedive, the Chicopee, MA-based jet charter service led by former American Airlines CEO Robert Crandall was “letting its IPO ambitions soar.” Indeed, even … Continue reading “IPO Market in Tailspin—Pogo Jet Latest to Pull Offering”

GreenFuel Snags $92 Million Deal To Build European Algae Fuel Plant

GreenFuel Technologies seems to be continuing its rebound under interim CEO Bob Metcalfe. The Cambridge, MA, alternative energy company has reached an agreement—worth up to some $92 million—to build an algae-based fuel plant in Europe, according to sources close to the firm. What makes the deal even more interesting is that it was reportedly negotiated … Continue reading “GreenFuel Snags $92 Million Deal To Build European Algae Fuel Plant”

Highland Buys City Sports

Highland Capital Partners’ Consumer Fund, which Xconomy profiled here, has acquired—and made a strategic growth equity investment in—Boston-born athletic retailer City Sports, which currently operates 14 stores along the east coast. No financial terms were disclosed, but City Sports founder and CEO Mike Kennedy said in a statement today that Highland “will be instrumental as … Continue reading “Highland Buys City Sports”

A Guide to New England Angel Groups—The List

Angel capital groups have become a vital part of the New England innovation ecosystem, investing millions each year in promising startups in fields from energy to Web 2.0 to life sciences to non-technology related areas. For an overview of what makes local groups different from their national counterparts—what they invest in, how much they invest, … Continue reading “A Guide to New England Angel Groups—The List”

A Guide to New England Angel Groups

Angel investment, as we angel-backed folks at Xconomy know firsthand, is the lifeblood of many a startup company. Angels often finance promising companies and ideas that are too small or too early in their development to attract the interest of venture firms. These seed and early-stage investments—typically of under $1 million each—help fill a vital … Continue reading “A Guide to New England Angel Groups”

Early-Stage Life Sciences Technology Conference

This conference, produced by the Massachusetts Technology Transfer Center in association with the Massachusetts Biotechnology Council, provides a forum and showcase for life sciences technologies developed at the state’s universities, hospitals, and other research institutions—as well as for recently formed Massachusetts companies.

EMC Spurned in Bid for Disk Drive Maker Iomega

San Diego-based Iomega (NYSE:[[ticker:IOM]]), a maker of storage drives and disks for consumers and small and medium-sized businesses, has rejected an unsolicited offer from EMC to buy the firm for roughly $180 million, the California company announced this morning. Iomega’s board of directors met Sunday to consider the offer and determined it undervalued the firm, … Continue reading “EMC Spurned in Bid for Disk Drive Maker Iomega”

Business Development Boston Conference—SOLD OUT

The Business Development Boston Conference, a forum and networking opportunity for pharmaceutical and biotech business development leaders, is returning for its second year. The powerhouse list of hosts includes top executives of RA Capital, Genzyme, Endo Pharmaceuticals, Pfizer, Hoffmann-La Roche, GlaxoSmithKline, Infinity Pharmaceuticals, Vertex, Sirtris Pharmaceuticals, and Biogen Idec. Individual panels are dedicated to Pharma, … Continue reading “Business Development Boston Conference—SOLD OUT”

Curt Schilling on 38 Studios, Massive Multi-Player Games, and McCain for President

Curt Schilling’s known for a few things around these parts—and the country: bloody socks, great pitching, conservative politics, and a love of video gaming, as evidenced by his founding of Maynard, MA-based 38 Studios (named after his uniform number). Wade wrote a nice profile of 38 Studios and its new game-creation contest a couple months … Continue reading “Curt Schilling on 38 Studios, Massive Multi-Player Games, and McCain for President”

An Insider’s View of the Massachusetts Life Sciences Industry

The Cambridge Chamber of Commerce High Tech and Science Committee has organized an interactive discussion with Jon Mahoney, the industry director for life sciences, for the state Office of Business Development. Join Mahoney as he chats with Xconomy founder Bob Buderi about Governor Deval Patrick’s $1 billion life sciences initiative and the general state of … Continue reading “An Insider’s View of the Massachusetts Life Sciences Industry”

Much to Chat About—From the $1B Life Sciences Bill to Homeland Security

Tomorrow is turning out to be an unofficial get-to-know-your government day here in Cambridge. Two top officials (one state, one federal) will be in town for a pair of events addressing two core issues affecting the innovation community and beyond: Governor Deval Patrick’s $1 billion life sciences initiative, and the U.S. Department of Homeland Security’s … Continue reading “Much to Chat About—From the $1B Life Sciences Bill to Homeland Security”

Angel Groups Give a Tentative Thumbs Up to 2008 Outlook

Greater Boston ranks as a startup haven. And there are few, if any, places in the country where more and better-organized angel investor groups exist. So the news that even with a recession looming (or already here), angels around the country are expressing cautious optimism about the startup scene for 2008 should perk up some … Continue reading “Angel Groups Give a Tentative Thumbs Up to 2008 Outlook”

Bottomline Buys Optio for $45M

Portsmouth, NH-based Bottomline Technologies (NASDAQ:[[ticker:EPAY]]), a provider of invoice, payment, and document automation software for banks and other financial institutions, announced today that it has reached a deal to add Alpharetta, GA-based Optio Software to its own bottom line for $44.9 million. Optio makes software to improve “the efficiency of document-intensive processes,” according to a … Continue reading “Bottomline Buys Optio for $45M”

Axcelis Hit With Class Action Suits

On Monday, Beverly, MA-based semiconductor manufacturing firm Axcelis Technologies (NASDAQ: [[ticker:ACLS]]) rejected an unsolicited $532 million takeover offer from Sumitomo, saying it substantially undervalued the company. Yesterday, Reuters and others report, Axcelis shareholders filed class-action lawsuits against the company in Delaware and Massachusetts, saying the firm and its board breached their fiduciary responsibilities by declining … Continue reading “Axcelis Hit With Class Action Suits”

Who Knew? Xconomy Uncovers the Strange-But-True Details of Boston’s Innovation Leaders

Sure, they might be technological visionaries, multi-millionaire entrepreneurs, imposing CEOs, legendary venture capitalists, and the like. Everyone around them knows what they do professionally. But did you know one of them was also a Top Gun fighter pilot? Or that another accompanied Yo-Yo Ma on piano at the wedding of Bill Nye the Science Guy? … Continue reading “Who Knew? Xconomy Uncovers the Strange-But-True Details of Boston’s Innovation Leaders”

Arthrosurface Scopes out $4M in Funding

Franklin, MA-based Arthrosurface, a developer of less-invasive joint resurfacing systems with some 7,000 of its devices now implanted in patients, announced today that is has taken in roughly $4 million in Series F funding. With the new round, the company has raised approximately $31 million in equity from repeat investor Boston Millennia Partners and private … Continue reading “Arthrosurface Scopes out $4M in Funding”

Cleantech Venture Investment Soared in 2007—Bay State a Distant Second to California

Even as the economy slowed in the second half of 2007, U.S. venture capital firms continued to pump money into clean technology deals—bringing the total invested in cleantech for the year to $2.5 billion, up 79 percent from 2006. Deal volume also skyrocketed some 54 percent, and overall the field accounted for more than 8 … Continue reading “Cleantech Venture Investment Soared in 2007—Bay State a Distant Second to California”

Biogen Idec Sells $1B in Notes, Converting Bridge Loan to Permanent Debt

In order to convert a bridge loan taken out to help finance last year’s $3 billion stock buyback program to permanent debt, Cambridge, MA-based biotechnology company Biogen Idec has sold $1 billion of senior notes, according to a company spokesperson and an SEC filing made today. The sale consisted of two parts, one involving 10-year … Continue reading “Biogen Idec Sells $1B in Notes, Converting Bridge Loan to Permanent Debt”

Are You Someone Else’s Intellectual Property?

Bijan Sabet is continuing his crusade against non-compete clauses. Sabet, a partner at Boston’s Spark Capital, caused a stir back in December, when he wrote on his blog that Spark would no longer require its portfolio companies to include non-compete clauses in their employee contracts. “The non-compete clause is a significant barrier to startups and … Continue reading “Are You Someone Else’s Intellectual Property?”

Automattic Connection: How an East Coast VC Got Behind WordPress, the West Coast’s Hottest Blog Platform

The party was pretty geeky—people were actually sitting around writing code. Mike Hirshland, who’d played football at Harvard (earning him an Honorable Mention on Xconomy’s VC Varsity roster), was having a hard time finding a beer. That’s when he gazed around the small San Francisco apartment and saw the laptop sitting on a counter—and on … Continue reading “Automattic Connection: How an East Coast VC Got Behind WordPress, the West Coast’s Hottest Blog Platform”

Clarus Ventures Raises $660 Million Life Sciences Fund

Clarus Ventures, a venture firm specializing in life sciences investments with offices in Cambridge, MA, and South San Francisco, announced today that it has raised a $660 million fund—the company’s second fund since its founding barely two years ago by a group of former partners of MPM Capital. Clarus said it plans to invest between … Continue reading “Clarus Ventures Raises $660 Million Life Sciences Fund”

Pogo Jet Sets IPO Terms A Year (Or So) Ahead of Commercial Operations

In today’s tough economic climate, high-tech firms have been taking flight when it comes to their planned IPOs—delaying them or canceling them outright (think Archemix, BG Medicine, and so on). But Pogo Jet, a Chicopee, MA-based jet charter service—aimed, no doubt, at least partly at the high-tech business set—is letting its IPO ambitions soar. The … Continue reading “Pogo Jet Sets IPO Terms A Year (Or So) Ahead of Commercial Operations”

The Telephone Gambit—Book Reading

Did Boston’s own Alexander Graham Bell steal the telephone patent? It doesn’t look good, as we have shown in these excerpts from Xconomy contributing writer Seth Shulman’s new book, The Telephone Gambit: Chasing Alexander Graham Bell’s Secret. Seth will be reading from his book, signing copies, and answering questions at the MIT Coop Bookstore in … Continue reading “The Telephone Gambit—Book Reading”

FIRST Robotics Competition—Boston Finals

The FIRST Robotics Competition, founded by Dean Kamen, has become all the rage. Think WWF meets rock concert meets geeks meets student-built robots. It’s wild, it’s fun—and it’s advancing the cause of science and technology education. The Blue Man Group kicks off the Boston area finals, run by Xconomist Marc Hodosh. Kamen, also an Xconomist, … Continue reading “FIRST Robotics Competition—Boston Finals”

Fearing Icahn’s Impact on Morale, Biogen Idec Launches Key Employee Retention Plan

Call it the Icahn Effect. To help keep top executives, scientists, and other employees on board and productive in the face of ongoing uncertainty and anxiety over Carl Icahn’s efforts to force a sale of the company, Biogen Idec (NASDAQ:[[ticker:BIIB]]) has launched a retention program that offers key employees bonuses of up to 150 percent … Continue reading “Fearing Icahn’s Impact on Morale, Biogen Idec Launches Key Employee Retention Plan”

EMC Soaring Into the Cloud (Computing)—the Question is When, Not If

Cloud computing has put the wind in the IT industry’s sails lately. It seems that there are as many interpretations of what the term means as there are clouds in the sky. But basically it’s the idea that truly large-scale computing power—from software applications to storage and information management services—will exist out there on the … Continue reading “EMC Soaring Into the Cloud (Computing)—the Question is When, Not If”