It was with some nostalgia—and thirst—that I visited the Allurent headquarters in Harvard Square last week. That’s because the rapidly growing e-commerce software startup occupies two third-floor rooms off Church Street that peer down on the abandoned digs of an old haunt of mine—the Brew Moon restaurant. It’s hard for me to drop by Allurent … Continue reading “Allurent Looks to Usher in the Next E-Commerce Era”
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.
Robotic FX Concedes it May Deserve Sanctions for Ahed’s “Improper” Actions—But Asks Court to Forego Default Judgment Against It
There was another small flurry of filings late last week in Alabama and Massachusetts courts, where Burlington, MA’s iRobot (NASDAQ: [[ticker:IRBT]]) is bringing two different suits against Illinois-based Robotic FX. Most were focused on procedural matters, but a more substantive one was made on Thursday in U.S. District Court in Alabama. It’s a brief filed … Continue reading “Robotic FX Concedes it May Deserve Sanctions for Ahed’s “Improper” Actions—But Asks Court to Forego Default Judgment Against It”
Genzyme, Biogen Idec Stocks Mixed on Icahn News
Shares of Massachusetts’ two leading biotechs, Genzyme and Biogen Idec, showed a mixed response to last night’s news from SEC filings that activist investor Carl Icahn was showing increased interest in the firms. Biogen, where Icahn almost tripled his previous stake, to 8.8 millon shares, fell $0.09, to $69.92. Genzyme, where Icahn took a new … Continue reading “Genzyme, Biogen Idec Stocks Mixed on Icahn News”
Tucci Basking in Glow of VMware Bet—And Says Competitors Are Way Behind
Joe Tucci loves virtualization. And why wouldn’t he? Tucci is CEO of EMC (NYSE: [[ticker:EMC]]), which produced this year’s hottest IPO when it offered 10 percent of its virtualization subsidiary VMware (NYSE: [[ticker:VMW]]) for public sale, netting the company billions (at least on paper) in the process. But at an analysts’ conference yesterday at Boston’s … Continue reading “Tucci Basking in Glow of VMware Bet—And Says Competitors Are Way Behind”
Carl Icahn Ups Biogen Idec Stake—Now Owns 3 Percent; Also Buys Shares in Genzyme
UPDATED NOV. 15: Billionaire investor and takeover artist Carl Icahn, who’s been trying to force a sale of Biogen Idec (NASDAQ: [[ticker:BIIB]]), has tripled his stake in the company, a document filed today with the SEC reveals. At the same time, he has also purchased a smaller stake in Genzyme (NASDAQ: [[ticker:GENZ]]), located almost around … Continue reading “Carl Icahn Ups Biogen Idec Stake—Now Owns 3 Percent; Also Buys Shares in Genzyme”
IBM To Buy Cognos For Almost $5 Billion; Xconomy Updates Its Local Big Blue Map
IBM announced yesterday that it would buy Canadian business intelligence software firm Cognos for nearly $5 billion, its largest acquisition in history. Cognos’ U.S. headquarters is in Burlington, MA, and the company employs nearly 400 people in Massachusetts. The staggering purchase price nearly equals the total Big Blue paid for two other state software powerhouses, … Continue reading “IBM To Buy Cognos For Almost $5 Billion; Xconomy Updates Its Local Big Blue Map”
EntreTech Forum: Clean Energy Today
Northeastern University’s School of Technological Entrepreneurship began holding monthly tech forums last month with a look at biotechnology. This month it’s clean energy. Get a good start on the Thanksgiving holiday, but don’t invest in any turkeys.
Ensemble Discovery Completes $15 Million Financing
Cambridge-based Ensemble Discovery, which is developing therapeutics and bioassays using its proprietary “DNA-programmed chemistry” platform, has completed a $15 million Series B funding round, PE Week reported. The three-year-old company received a first tranche payment of $10 million back in January, with the remainder just announced. Participants in the round included Aeneas Venture (Harvard Management … Continue reading “Ensemble Discovery Completes $15 Million Financing”
Northeastern and Local Startup Say They Invented A Key to Google Searches—Hit Search Giant With Lawsuit
Behind every great database search is, no doubt, a patent (or series of patents). Google is the champion of searching vast databases—such as its index of billions of Web pages. And it has lots of patents. Only now, according to a report in today’s Boston Globe by Hiawatha Bray, Northeastern University and a Waltham, MA, … Continue reading “Northeastern and Local Startup Say They Invented A Key to Google Searches—Hit Search Giant With Lawsuit”
Biogen Idec Shares Push Upward on Down Day for Market: More Grist for the Takeover Mill
An after-market-hours report by the Financial Times‘ dealReporter yesterday evening on the bidding for Biogen Idec appears to have put wind in the firm’s stock today—as shares surged more than six points to $77.45 before settling down on another off day for Wall Street to close up $3.86 (nearly 5.5 percent) at $74.99. Yesterday’s dealReporter … Continue reading “Biogen Idec Shares Push Upward on Down Day for Market: More Grist for the Takeover Mill”
Xconomy Forum, December 5: The Future of Innovation in New England
Innovation springs from diversity. And bringing together people and ideas from diverse backgrounds, fields, and experience to help explore and drive innovation is core to Xconomy’s mission. We’re trying to do that online, through both our editorial coverage and our Xconomist Forum, which we hope add a fresh, more personal, and insightful dimension to the … Continue reading “Xconomy Forum, December 5: The Future of Innovation in New England”
Genzyme to Acquire Diagnostic Chemicals Division
Cambridge-based Genzyme announced on Wednesday that it has agreed to acquire the diagnostic division of Canada’s Diagnostic Chemicals. Terms of the all-cash agreement were undisclosed. The acquisition, involving DCL operations in Prince Edward Island and Connecticut, brings into the Genzyme fold some 50 formulated clinical chemistry reagents, which garnered roughly $21 million in revenues in … Continue reading “Genzyme to Acquire Diagnostic Chemicals Division”
Young Venture Capitalists to Launch Social Networking Site for VCs
Aiming to encourage collaborations that could fuel more effective creation of new businesses in the greater Boston region and beyond, a group of young venture capitalists will gather tonight at the EMC Club in Fenway Park to kick off their new professional networking website. VentureNetwork.VC, set to go live by tomorrow morning, is the offspring … Continue reading “Young Venture Capitalists to Launch Social Networking Site for VCs”
Xconomy’s First Poll: If You Had $10 Million…You’d Invest In Cleantech! Say What?
Last week, in our usual understated fashion, we here at Xconomy launched a new poll widget. It’s just another in a growing line of features—such as our recent podcasts and News Xpress offerings—that we like to drop into the site to hopefully engage and inform our readers (News Xpress is taking off, but I think … Continue reading “Xconomy’s First Poll: If You Had $10 Million…You’d Invest In Cleantech! Say What?”
SOLD OUT—Xconomy Forum: The Future of Innovation in New England
New England is home to the world’s greatest concentration of elite universities, large corporations and startups, venture-capital and business leadership, great research hospitals, and science and technology expertise spanning everything from life sciences to energy to robotics and IT. But how well do we collaborate and share ideas? How well do we identify and tackle … Continue reading “SOLD OUT—Xconomy Forum: The Future of Innovation in New England”
Boston Wireless Internet Plans Hit Snag—Won’t Likely Happen Before 2009
Boston’s ambitious effort to offer wireless Internet access throughout the city by the end of 2008 has run into technology and funding problems that seem bound to delay the network’s implementation, officials of the project acknowledge. Pamela Reeve, head of OpenAirBoston, the non-profit organization created to manage the program, said the debut of citywide Internet … Continue reading “Boston Wireless Internet Plans Hit Snag—Won’t Likely Happen Before 2009”
IRobot Stock Holds Weekend Gains Made on News of Preliminary Injunction Win
Shares of Burlington, MA-based iRobot (NASDAQ: [[ticker:IRBT]]) are up this morning on last week’s news that the company had won a partial preliminary injunction against Robotic FX. The ruling is likely to prevent the Illinois firm from selling the Negotiator robot, which iRobot alleges in lawsuits in Alabama and Massachusetts is based largely on its … Continue reading “IRobot Stock Holds Weekend Gains Made on News of Preliminary Injunction Win”
Despite Strong Showing, MIT Team Finishes Out of the Money in DARPA Robotic Vehicle Challenge
A robot car built by MIT faculty and students was one of just six autonomous vehicles to successfully complete the DARPA Urban Challenge competition this weekend. However, when the results were announced Sunday afternoon, Team MIT had missed out on the big prize money, which went to the first three finishers: Tartan Racing (led by … Continue reading “Despite Strong Showing, MIT Team Finishes Out of the Money in DARPA Robotic Vehicle Challenge”
$44 Million in Venture Deals for Massachusetts Firms; HemaQuest and Virtual Iron Lead the Way
It’s a big day for Massachusetts startups, with the news that four local companies have secured some $44 million in venture financing. Three were biotech firms, and virtualization specialist Virtual Iron, perhaps riding the wave of VMware’s big IPO, was the lone IT firm. Topping the list of fund-raisers was HemaQuest Pharmaceuticals of Newton. The … Continue reading “$44 Million in Venture Deals for Massachusetts Firms; HemaQuest and Virtual Iron Lead the Way”
Xconomy Gala Launch Fete Rips It Up at the Broad Institute; Staff Parties So Hard We Forgot to Write This Morning’s Story
A crowd of nearly 300 people from all walks of innovation sashayed through the Broad Institute lobby and auditorium for Xconomy’s Gala Launch party last night. Founders of billion-dollar corporations, Nobel Prize winners, CEOs of public companies and startups alike, angel investors, venture capitalists, professors, students, legal and management execs, and scores of entrepreneurs in … Continue reading “Xconomy Gala Launch Fete Rips It Up at the Broad Institute; Staff Parties So Hard We Forgot to Write This Morning’s Story”
Tego Taps $6 Million for Tags
Tego, a Waltham, MA-based developer of high-memory RFID tag solutions for the aerospace, defense, and transportation markets, announced today that it had closed a $6 million Series A round led by Bainco International Investors of Wellesley, MA. Tego was formed in 2005. According to its website and press release, its products allow for storing and … Continue reading “Tego Taps $6 Million for Tags”
Boston Scientific Loses Patent Infringement Suit
A jury in U.S. District Court in San Francisco yesterday found that Boston Scientific (NYSE:[[ticker:BSX]]) infringes a patent for balloon catheter technology held by Johnson & Johnson subsidiary Cordis Corp. Boston Scientific said it believes the finding is in error and that it will seek to have it overturned.
Zipcar To Share Ride With Flexcar
Zipcar, the Cambridge-based car sharing service, announced today that it will merge with Flexcar, a Seattle firm whose main owner is Revolution, a Washington, DC, investment company founded by ex-AOL Time Warner Chairman Steve Case. Zipcar is the world’s largest car sharing provider, with 120,000 members in more than 35 cities, according to the company’s … Continue reading “Zipcar To Share Ride With Flexcar”
Click and Clack Say Technology is Poised to Meet 35 MPG Fuel Standards, Urge Congress Not to Heed Auto Industry’s “Fuel-Mongering Bull-Feathers”
Boston doesn’t have an auto technology cluster, but it’s big on cleantech—and it also has Tom and Ray Magliozzi, better known as Click and Clack, the Tappet brothers. And who should know how cleantech and cars come together better than the proprietors of Cambridge’s Good News Garage and hosts of NPR’s Car Talk show? Not … Continue reading “Click and Clack Say Technology is Poised to Meet 35 MPG Fuel Standards, Urge Congress Not to Heed Auto Industry’s “Fuel-Mongering Bull-Feathers””
Robotic FX Fires Back—Says iRobot’s “Secrets” Aren’t Secret
First, a warning. If you are looking for closure—an answer to the question of whether iRobot will get its requested preliminary injunction against Robotic FX—you’re out of luck. Although witness testimony ended on October 3, and ostensibly the filing period for further arguments was over the following week (or so), Judge Nancy Gertner of U.S. … Continue reading “Robotic FX Fires Back—Says iRobot’s “Secrets” Aren’t Secret”
The Coming New Face of Eons—All About Social Networking
Eons, the upbeat web portal for those on the “flip side of 50,” has been feeling the vagaries of age—young age, that is. Despite amassing $32 million in venture capital, the 15-month-old (depending on how you count) startup has experienced severe growing pains and in September was forced to lay off a third of its … Continue reading “The Coming New Face of Eons—All About Social Networking”
Angel Funding Rivaling Venture Investments By Picking Up Slack in Early-Stage Ventures, But Slowdown is Foreseen
A growing body of professional angel investor organizations poured $11.9 billion into 24,000 deals in the first half of 2007, not too far off the 14.5 billion invested by venture firms. A large portion of the angel funds went into early stage ventures, partially filling a hole left by larger venture funds, which have increasingly … Continue reading “Angel Funding Rivaling Venture Investments By Picking Up Slack in Early-Stage Ventures, But Slowdown is Foreseen”
GAO Dismisses IRobot Protest—Calls It Moot as Army Reassesses Robotic FX
In the latest episode of the iRobot-Robotic FX drama, the Government Accountability Office has dismissed iRobot’s protest of the $279.9 million military contract awarded last month to its rival. The GAO says the protest no longer applies in light of the Army’s decision earlier this week to set aside the contract as it reassesses Robotic … Continue reading “GAO Dismisses IRobot Protest—Calls It Moot as Army Reassesses Robotic FX”
Bidding for Biogen Idec Could Begin in Early November, Report Says
Biogen Idec, which has put itself up for sale under pressure from activist investor Carl Icahn, could receive its initial bids for the company in the first 10 days of November, the Financial Times reported today. Pfizer (NYSE:[[ticker:PFE]]) and Novartis (NYSE:[[ticker:NVS]]) are reportedly the two leading contenders to purchase the pioneering Cambridge biotech, according to … Continue reading “Bidding for Biogen Idec Could Begin in Early November, Report Says”
General Catalyst Raises $715 Million For Two Funds
Cambridge-based venture firm General Catalyst Partners has raised two new funds totaling $715 million, PE Week Wire reports today, citing regulatory filings. The funds, General Catalyst Group V and General Catalyst Group V Supplemental, were culled from 77 investors, according to the publication. The $600 million General Catalyst V was listed in a Dow Jones … Continue reading “General Catalyst Raises $715 Million For Two Funds”
IRobot Stock Up Sharply
Shares of Burlingon, MA-based iRobot (NASDAQ: IRBT) jumped out of the gate today, seemingly buoyed by yesterday’s after-trading news that the U.S. Army had set aside the $279.9 million contract of its rival, Robotic FX, and might award the contract to iRobot. After closing yesterday at $15.46, shares hit a high this morning of $18.50 … Continue reading “IRobot Stock Up Sharply”
Army Is Prepared to Award “XBot” Contract to IRobot If Robotic FX Fails New Assessment
The U.S. Army will cancel Robotic FX’s $279.9 million contract for bomb-detection robots and award it to iRobot as the next-lowest bidder if a new assessment of Robotic FX finds it is not a “responsible” government contractor, according to a letter from an Army contracts officer. IRobot, which received the letter yesterday, passed on the … Continue reading “Army Is Prepared to Award “XBot” Contract to IRobot If Robotic FX Fails New Assessment”
Biogen-Icahn? Pfiz-ogen or Pfiz-zyme? Is All of Cambridge Biotech Suddenly Up For Sale?
Thank you Carl Icahn. Thanks for stirring the pot by purchasing a few million shares in the local economy. In just the last 12 days, you’ve raised the market cap of Cambridge’s biotech giants by, oh, I don’t know, a few billion dollars. It’s nice work if you can get it, this activist investing. But … Continue reading “Biogen-Icahn? Pfiz-ogen or Pfiz-zyme? Is All of Cambridge Biotech Suddenly Up For Sale?”
A123 Raises $30 Million to Expand Battery Production Capacity
A123 Systems is like some sort of entrepreneurial Energizer bunny: it just keeps on marching through investment rounds and deals. In the latest news, the Watertown, MA, supplier of high-power lithium ion batteries announced today that it had received $30 million in new venture financing. The money will be used to scale up production capacity … Continue reading “A123 Raises $30 Million to Expand Battery Production Capacity”
New England Venture Investments Showed Robust Growth in Q3
Two just-released reports showed strong venture capital activity in New England in the third quarter. The surveys, though, differed a bit on overall growth patterns and regional standings. One showed New England in second place nationwide to the Bay Area, while the other put Southern California in the No. 2 spot, ahead of New England … Continue reading “New England Venture Investments Showed Robust Growth in Q3”
Genzyme Comes Back to Win Bioenvision Vote—Disputed Merger to Go Forward
Bioenvision shareholders have voted to approve Genzyme’s takeover offer, paving the way for the controversial merger to move forward, the two companies announced late this afternoon. If it closes as planned, the deal—which passed after months of dispute that saw the shareholder vote extended several times—will win Cambridge-based Genzyme (NASDAQ: GENZ) worldwide rights to the … Continue reading “Genzyme Comes Back to Win Bioenvision Vote—Disputed Merger to Go Forward”
IRobot Counters U.S. Attorney’s Office Arguments Supporting Robotic FX
In the latest salvo in the iRobot-Robotic FX legal battle, iRobot attorneys late last week took the U.S. Attorney’s office to task for its arguments in support of Robotic FX. This part of the complicated case (in which iRobot alleges, essentially, that Robotic FX’s Negotiator robot is a knock-off of its PackBot—click here for a … Continue reading “IRobot Counters U.S. Attorney’s Office Arguments Supporting Robotic FX”
EMC’s Big Innovation Day
Innovation sure is a big deal at EMC. At least it was on Tuesday, when I drove some 45 minutes southwest from Boston to Franklin, MA, for the opening day of EMC’s inaugural Innovation Conference. The lot was full (this was Franklin), forcing me back across the road to park, and inside some 400 EMC … Continue reading “EMC’s Big Innovation Day”
Why EMC Bought Mozy: A Leading Exec Provides More Insight
It’s Mozy’s subscription-service business model and the opportunity it provides for EMC to extend its corporate customer base—not access to the consumer market for which Mozy is best known—that was the primary motivation for EMC (NYSE: EMC) to purchase the online backup service earlier this month. That was the upshot of a conversation I had … Continue reading “Why EMC Bought Mozy: A Leading Exec Provides More Insight”
Genzyme Rises on Promising Campath Data and (or) Takeover Speculation
(Updated at 5:50 p.m. on Monday, Oct. 15) It was a down day for the market, but Genzyme (NASDAQ: GENZ) shares had a nice pop on news that the company’s leukemia drug Campath had proven more effective in a Phase 2 trial than a Merck drug as a treatment for multiple sclerosis—and speculation that with … Continue reading “Genzyme Rises on Promising Campath Data and (or) Takeover Speculation”
Icahn Offered $23 Billion for Biogen Idec—Elan Won’t Block Sale
Carl Icahn has offered $23 billion for Biogen Idec and believes that would be a good value; meanwhile Biogen partner Elan said it would not stand in the way of the sale, Bloomberg reported this morning. In the wake of Friday’s announcement that Biogen would consider selling under the right terms, Icahn is giving out … Continue reading “Icahn Offered $23 Billion for Biogen Idec—Elan Won’t Block Sale”
“Dear Your Honor”—Some Legal Maneuverings from the iRobot-Robotic FX Files
In the course of following the mesmerizing courtroom drama of the iRobot-Robotic FX case it’s become part of our daily routine to check for new legal filings—a habit that’s grown even stronger as we wait for a decision on whether a preliminary injunction will be issued against Robotic FX. (And when we forget, our faithful … Continue reading ““Dear Your Honor”—Some Legal Maneuverings from the iRobot-Robotic FX Files”
The WPI Robotics Symposium: Engineering the Revolution
The robots are already here, but they’re coming in ever-greater numbers. WPI is holding this half-day-plus symposium to mark the launch of its new degree program in Robotics Engineering, which it says is the first such program in the country. One panel features legendary inventor Dean Kamen and Helen Greiner, co-founder and chair of iRobot … Continue reading “The WPI Robotics Symposium: Engineering the Revolution”
Bay State Led in Venture Funds Raised in First Three Quarters
The money has been flowing in the Bay State. Massachusetts venture capital firms raised $6.6 billion in the first nine months of this year, the most of any state in the nation, according to data released yesterday by Dow Jones Private Equity Analyst. The total for Massachusetts firms—which between them closed 18 venture funds during … Continue reading “Bay State Led in Venture Funds Raised in First Three Quarters”
What Does It Take to Build a Billion-Dollar Company in New England?
It was only slightly colder in Vermont than in Boston. A small group of us had just flown in to Rutland, then taken a minivan to The Equinox, an historic resort in the picturesque town of Manchester Village. The group included well-known Boston area entrepreneur and Sycamore Networks co-founder Desh Deshpande; Jerry Fishman, CEO of … Continue reading “What Does It Take to Build a Billion-Dollar Company in New England?”
Targanta Stumbles As Stock Begins Trading
Cambridge biopharmaceutical company Targanta Therapeutics staggered out of the blocks as its stock made its public debut today. The company (NASDAQ: TARG), which is focused on developing antibiotics to combat serious infections, opened at $10 per share and at just before 2:30 p.m. was limping along at $9.51 (down about 5 percent), not too far … Continue reading “Targanta Stumbles As Stock Begins Trading”
IRobot-Robotic FX Backgrounder: As A Key Ruling Nears, An Attempt to Clear Up Some Questions About the Case
Heat knife. Hot-plate device. Welding tool. Welding fixture. What exactly was found in the dumpster? What exactly did Jameel Ahed admit to throwing out, and what does he say might be planted? What was the point of iRobot program manager Tom Frost’s testimony? What are the main issues before the judge? I spent part of … Continue reading “IRobot-Robotic FX Backgrounder: As A Key Ruling Nears, An Attempt to Clear Up Some Questions About the Case”
The Great Elevator Pitch Competition: You Have 60 Seconds to Convince Me to Give You a Million Dollars (or $10 Million)
It was a good crowd, probably close to 130 people, that piled into Kirsch Auditorium at MIT’s Stata Center on Monday night. Four brave students were there to stand in front of them, each with only 60 seconds to pitch their business idea. Talk about pressure. And to add to their angst, the students had … Continue reading “The Great Elevator Pitch Competition: You Have 60 Seconds to Convince Me to Give You a Million Dollars (or $10 Million)”
Genzyme Takeover Bid for Bioenvision Still Alive as Special Session Adjourns For the Day
With the vote on Genzyme’s takeover bid seemingly far closer than expected, shareholders of New York-based Bioenvision adjourned a special meeting today, the company announced this afternoon. The session will resume tomorrow with the outcome apparently too close to call. At issue is Cambridge-based Genzyme’s (NASDAQ: GENZ) $5.60-per-share offering price for Bioenvision (NASDAQ: BIVN). That … Continue reading “Genzyme Takeover Bid for Bioenvision Still Alive as Special Session Adjourns For the Day”
EMC Confirms Its Rumored Acquisition of Mozy, Will Keep Consumer Backup Service
EMC today confirmed the widely reported speculation that it had acquired privately held Utah-based Berkeley Data Systems, which operates the online-backup service Mozy. Terms of the deal were not announced. However, last month the tech blog TechCrunch broke the news of the impending acquisition and pegged the price at $76 million. Mozy is a nice … Continue reading “EMC Confirms Its Rumored Acquisition of Mozy, Will Keep Consumer Backup Service”