Category: Boston

SS&C Buys Evare

SS&C Technologies, a maker of financial management software based in Windsor, CT, announced yesterday that it has acquired Evare, a Burlington, MA company that handles financial data acquisition and transformation for banks, corporations, and asset managers. The companies didn’t reveal the terms of the deal.

Lionbridge Lays Off 325 Workers

Lionbridge Technologies (NASDAQ:[[ticker:LIOX]]), a Waltham, MA-based provider of software for language translation and other services, will lay off 325 employees or 8 percent of its workforce and consolidate several global operations as part of a restructuring plan, according to a regulatory filing. The plan is expected to save the company $6 million to $9 million … Continue reading “Lionbridge Lays Off 325 Workers”

Free Zinc Browser and Pro Version of ZvBox Breathe New Life into ZeeVee’s Internet Video Technology

ZeeVee, the Littleton, MA-based startup focused on helping people watch high-definition Internet video on their TVs, today introduced a new version of its free video browser. Formerly called Zviewer—and originally designed for the ZvBox, the firm’s PC-to-TV-over-coaxial-cable appliance—the browser is now called Zinc, and runs on any Windows XP or Vista computer. (A Mac version … Continue reading “Free Zinc Browser and Pro Version of ZvBox Breathe New Life into ZeeVee’s Internet Video Technology”

Aveo and Biogen in Antibody Partnership

Aveo Pharmaceuticals and Biogen Idec (NASDAQ:[[ticker:BIIB]]), both based in Cambridge, MA,  have struck a development deal related to Cambridge, MA-based Aveo’s program to discover antibody drugs that target a cellular receptor known as ErbB3, according to Aveo. The cellular receptor is found in abundance on several types of cancer cells and is believed to promote … Continue reading “Aveo and Biogen in Antibody Partnership”

How Massachusetts Should Boost Innovation—A Compendium of Reader Ideas (And A Call for More)

How should Massachusetts strengthen and grow its innovation ecosystem? What are the best ways to foster entrepreneurship, improve the high-tech work force, and entice companies, whether here already or thinking about a local presence, to expand in the Bay State? Last month, after witnessing a flurry of talk focused on addressing such issues by rebranding … Continue reading “How Massachusetts Should Boost Innovation—A Compendium of Reader Ideas (And A Call for More)”

Extreme Reach Wins Funding

Needham, MA-based Extreme Reach, whose Web-based software tracks, manages, and delivers video ads across Web, television, and on-demand platforms, announced today that it has raised additional venture funds from a group including new investor Greycroft Partners and existing investors Village Ventures and Long River Ventures. The size of the round wasn’t disclosed, although a company … Continue reading “Extreme Reach Wins Funding”

A New World Order for High-Growth Firms

Many of my friends and neighbors may have noticed that I haven’t been in town as much lately, and that I’m spending more and more of my time in Kansas City. So why would a hardened MIT denizen who used to think that distant travel meant going to Porter Square now be flying back and … Continue reading “A New World Order for High-Growth Firms”

FirstBest Systems Banks $6M Series B Financing, Looks to Help Insurers Overcome Economic Slump

Here’s a firm that may see demand for its products increase due to adverse economics in its target market. FirstBest Systems, a Bedford, MA, provider of underwriting software that could help property and casualty insurers expand their businesses, says it has wrapped up a $6 million second round of financing to ensure its own growth. … Continue reading “FirstBest Systems Banks $6M Series B Financing, Looks to Help Insurers Overcome Economic Slump”

FirstBest Systems, Inc. Receives $6,000,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8128956d-f967-4984-81c1-d111d16ce08d&Preview=1 Date 3/24/2009 Company Name FirstBest Systems, Inc. Mailing Address 213 Burlington Rd. Bedford, MA 01730 Company Description Founded in 2006, FirstBest Systems®, Inc. is a software and services company providing advanced Underwriting Management Systems™ (UMS) to commercial insurance carriers. Website http://www.firstbest.com Transaction Type Venture Equity Transaction Amount $6,000,000 Transaction Round Series … Continue reading “FirstBest Systems, Inc. Receives $6,000,000 Series B Financing Round”

Claros Dx Raises $4M Second Round

Claros Diagnostics, a Woburn, MA-based developer of point-of-care diagnostics for prostate cancer and other diseases, has raised $4 million in a second round of financing, according to a report citing a regulatory filing on website PE Hub. The report doesn’t name the investors in the financing but says the company’s previous backers include Oxford Bioscience … Continue reading “Claros Dx Raises $4M Second Round”

Mzinga Cuts 18% of Workers, CEO Departs

Mzinga, a Burlington, MA, provider of Web-based social media and training software, has laid off 18 percent of its workers, leaving the firm with 170 employees, according to a company blog post. The blog post also revealed that CEO Rick Faulk will be leaving the firm and Barry Libert, the company’s executive chairman, has taken … Continue reading “Mzinga Cuts 18% of Workers, CEO Departs”

Few Carbonite Customers Lost Data in Drive Failure, CEO Says

Saturday’s Boston Globe contained news of a lawsuit filed by Boston-based online backup company Carbonite against two companies that supplied allegedly defective disk drive arrays. Carbonite CEO David Friend confirmed today that that a suit has been filed, but he says he’s concerned that the Globe story—which has been widely re-reported in outlets such as … Continue reading “Few Carbonite Customers Lost Data in Drive Failure, CEO Says”

Android Co-Founder Miner Reportedly Tapped to Help Run New $100 Million Google Venture Fund

Rich Miner, the driving force behind Google’s Android operating system for mobile phones and a longtime leader in Massachusetts communications software circles, reportedly will join Google Ventures, a $100 million venture fund the search giant is said to be forming. Rumors of the planned venture fund have been in the air since last summer. More … Continue reading “Android Co-Founder Miner Reportedly Tapped to Help Run New $100 Million Google Venture Fund”

How Green Are Boston’s Green VCs?

(Updated listings — see below) Back in his Navy days as a Top Gun pilot, Jim Matheson of Flagship Ventures—call sign Fuzzy—burned his share of jet fuel. But now that he’s a cleantech investor, he’s more careful about his carbon footprint, tooling around in his red Toyota Prius and buying carbon offsets for his Cirrus … Continue reading “How Green Are Boston’s Green VCs?”

Claros Diagnostics Lands $4,000,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6d334168-0406-4cd8-880f-2fe1d97e8079&Preview=1 Date 3/23/2009 Company Name Claros Diagnostics Mailing Address 4 Constitution Way Woburn, MA 01801 Company Description Claros has developed a novel handheld immunoassay system incorporating a lab-on-a-chip configuration which produces high performance quantitative laboratory blood test results with the ease-of-use of rapid qualitative diagnostic test strips. The Claros device will enable … Continue reading “Claros Diagnostics Lands $4,000,000 Series B Financing Round”

Boston Scientific: $50M Settlement over Stents

Back in February 2008, a Texas jury told Natick, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) it would have to pay $431 million in damages to Dr. Bruce Saffran, who alleged that the company’s Taxus Express and Taxus Liberte drug-eluting stents infringed on patents he owns. Boston Scientific appealed the ruling, and a Federal Circuit panel reviewed … Continue reading “Boston Scientific: $50M Settlement over Stents”

Net Traffic Spikes–Something About That Funny Game with Nets

Internet news sites are experiencing their fourth biggest traffic day ever, as millions of people who should be working instead point their browsers to online video coverage of the “March Madness” NCAA basketball playoffs, judging by the Net Usage Index: News, a Web traffic monitoring service maintained by Cambridge, MA-based Akamai Technologies. The index indicated … Continue reading “Net Traffic Spikes–Something About That Funny Game with Nets”

Surprised? Oxford Bioscience Partners Lands, Briefly, on Dreaded List of “VC Walking Dead”

It’s always slightly shocking to find out that a perceived wealthy friend or colleague isn’t so well off. I felt much the same way yesterday about seeing biotech venture firm Oxford Bioscience Partners on PE Hub’s roster of the “VC Walking Dead,” which is a list of more than a dozen venture firms that PE … Continue reading “Surprised? Oxford Bioscience Partners Lands, Briefly, on Dreaded List of “VC Walking Dead””

Google Voice: It’s the End of the Phone As We Know It

[Update 12:00 pm 3/20/09: We were swamped with hundreds of e-mails in response to our offer of 100 free Google Voice beta accounts this morning. Thanks everyone! We’ll be in touch with the winners as soon as possible with details about their new accounts.] Brace for impact, again. Google is about to change the way … Continue reading “Google Voice: It’s the End of the Phone As We Know It”

Ex-Wyeth Exec Named Sirtris Pres.

Sirtris, a Cambridge, MA, unit of London-based drug giant GlaxoSmithKline (NYSE:[[ticker:GSK]]), says that George Vlasuk has been named president and head of Sirtris. Vlasuk, who was previously vice president of metabolic and hemophilia in the pharmaceutical division of Madison, NJ-based Wyeth (NYSE:[[ticker:WYE]]), will report to Sirtris CEO Christoph Westphal. Vlasuk will be based in Cambridge … Continue reading “Ex-Wyeth Exec Named Sirtris Pres.”

Investors Wire $10M to Quattro Wireless, NKT Therapeutics Nabs $8M, Still River Makes $33M Worth of Waves, & More Boston-Area Deals News

My much beloved Powerbook is about two reboots away from being utterly bricked, so this week’s roundup of New England tech and life sciences deals is going to be a lightning round. Let’s see how much I can tell you before the mortar sets… —Lexington, MA-based Pulmatrix reportedly raised $3 million in a bridge round … Continue reading “Investors Wire $10M to Quattro Wireless, NKT Therapeutics Nabs $8M, Still River Makes $33M Worth of Waves, & More Boston-Area Deals News”

MIT Sloan Sales Conference—Sell or Sink: Navigate the Crisis

The Third Annual MIT Sloan Sales Conference offers an agenda geared towards selling in the current economic crisis, as well as sessions on CEO leadership challenges, lessons from past recessions, innovative sales models, and workshops on technology, communications and more. The keynote speakers are Bill McDermott, President, Global Field Operations, SAP and Robert Cialdini, Ph.D., … Continue reading “MIT Sloan Sales Conference—Sell or Sink: Navigate the Crisis”

MITX Expands Scope of Technology Awards to “Promising” Early-Stage Companies; Entries Due April 3

For the past five years, the Massachusetts Innovation & Technology Exchange (MITX) has held an awards ceremony to recognize the most innovative technology companies in New England. Past winners have included significant regional players with established technologies—companies like BladeLogic, BBN Technologies, Progress Software, McAfee, Turbine, and Skyhook Wireless. But this year MITX is expanding the … Continue reading “MITX Expands Scope of Technology Awards to “Promising” Early-Stage Companies; Entries Due April 3″

MedAptus Lands $6M Financing

MedAptus, a Boston-based provider of billing software for medical practices and hospitals, reports it has raised $6 million in a financing. The financing, led by previous investor Boston Millennia Partners, is intend to expand MedAptus’s “Intelligent Charge Capture” software business. MedAptus says that one feature of its software is to enhance organizations’ investments in electronic … Continue reading “MedAptus Lands $6M Financing”

After Fending Off Sequenom Takeover, Exact Sciences Replaces CEO and CFO with Diagnostics Vets

Exact Sciences, a Marlborough, MA, developer of a DNA-based stool test for detecting colorectal cancer, says that its board of directors has replaced the firm’s CEO and chief financial officer. The management changes follow the firm’s successful maneuvering to avoid a takeover by San Diego-based diagnostics firm Sequenom (NASDAQ:[[ticker:SQNM]]). The board of Marlborough, MA-based Exact … Continue reading “After Fending Off Sequenom Takeover, Exact Sciences Replaces CEO and CFO with Diagnostics Vets”

Cyberkinetics Loses Energy

According to a report today in the Boston Globe, Foxborough, MA-based Cyberkinetics Neurotechnology Systems (OTC:[[ticker:CYKN]])  is shutting down. In January, it sold the rights to its Andara Oscillating Field Stimulator technology, a device designed to regenerate nerve cells in patients with severe spinal injuries, to Waltham, MA-based NeuroMetrix for $350,000. The FDA hasn’t yet approved … Continue reading “Cyberkinetics Loses Energy”

MedAptus, Inc. Secures $6,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=48492ee7-df22-46c9-b0c3-bd01badf9571&Preview=1 Date 3/19/2009 Company Name MedAptus, Inc. Mailing Address 176 Federal Street, 3rd Floor Boston, MA 02110 Company Description Physician-founded MedAptus was incorporated in 1999 with the belief that in order for point-of-care technologies to make sense, they must be easy to use, deliver demonstrable financial benefits and also leverage an organization’s … Continue reading “MedAptus, Inc. Secures $6,000,000 New Financing”

Funding Pool Deep for Still River, Cuts in the Offing for Epix and Synta, FDA Approvals Granted for Hologic, & More Boston-Area Life Sciences News

The past week saw substantial cuts at two of New England’s biotech firms, but a thorough analysis of the financial reporting for most companies in the sector shows the news isn’t all bad. That and more below. —Luke delivered the second installment of his Biotech Survival Index, which assesses the financial health of more than … Continue reading “Funding Pool Deep for Still River, Cuts in the Offing for Epix and Synta, FDA Approvals Granted for Hologic, & More Boston-Area Life Sciences News”

First Flight Brings Terrafugia “A New Level of Credibility,” Says CEO Dietrich

After Terrafugia’s heavily attended press conference this morning announcing the maiden flight of the company’s drivable aircraft, the Transition, I buttonholed founder and CEO Carl Dietrich for a one-on-one interview. He said the flight, which took place on March 5, is probably “the biggest single milestone” that Terrafugia could have achieved—and that the company is … Continue reading “First Flight Brings Terrafugia “A New Level of Credibility,” Says CEO Dietrich”

Stylefeeder Partners with Elle Publisher

Stylefeeder, the Cambridge, MA-based personalized shopping engine that raised a $2 million Series A round in January 2008, has formed a partnership with Hachette Filipacchi Media (HFM) U.S., the publisher of Elle, Car & Driver, Woman’s Day, and a number of other fashion, automotive, health, and hobbyist magazines. Under the deal, announced today by HFM, … Continue reading “Stylefeeder Partners with Elle Publisher”

General Catalyst Lands Facebook Co-Founder to Help Create Next Generation of Web Media Startups

As is often (too often) told in local innovation circles, Boston venture capitalists turned down funding Facebook, the company headed to Silicon Valley—and the rest is a sore spot in New England Internet VC history. But now one of the three founders of Facebook, Chris Hughes, is returning in a big way to the New … Continue reading “General Catalyst Lands Facebook Co-Founder to Help Create Next Generation of Web Media Startups”

MIT Sustainability Summit, Discovering New Dimensions for Growth

The MIT Sustainability Summit, Discovering New Dimensions for Growth, brings together students, engineers, business leaders, academics, environmental activists, and public servants. Panel discussions—based on hypothetical but realistic scenarios—will focus on how to progress toward sustainability in a recession, how to measure the success of sustainability practices, and what opportunities for innovation and collaboration in sustainability are … Continue reading “MIT Sustainability Summit, Discovering New Dimensions for Growth”

Terrafugia Achieves Maiden Flight—Live Blogging from the Boston Museum of Science

[Update, 2:30 p.m., March 18, 2009: We’ve just published an extensive followup interview with Carl Dietrich, Terrafugia’s founder and CEO.] Ever since my first visit to Terrafugia’s Woburn, MA, warehouse last May to see the startup’s Transition “roadable aircraft,” I’ve been pestering CEO Carl Dietrich to clue us in about the craft’s first flight. He … Continue reading “Terrafugia Achieves Maiden Flight—Live Blogging from the Boston Museum of Science”

Report: IBM in Talks to Buy Sun Microsystems for $6.5B

Big Blue may become even bigger in the Boston area. IBM is in discussions to acquire Sun Microsystems, a move that would strengthen IBM’s Web presence and add to its server and data storage businesses, the Wall Street Journal reports this morning, citing unnamed sources with knowledge of the talks. Both IBM (NSYE:[[ticker:IBM]]) and Sun … Continue reading “Report: IBM in Talks to Buy Sun Microsystems for $6.5B”

Generation Health Growing Boston-Area Presence, Backed by Highland Capital Partners

Though Generation Health, launched last year with backing from Highland Capital Partners and others in the Boston area, is based in New Jersey, it’s staging much of its effort to build a novel benefits management system for genetic tests here in Massachusetts. And Per Lofberg, the firm’s chairman and CEO, tells Xconomy that he anticipates … Continue reading “Generation Health Growing Boston-Area Presence, Backed by Highland Capital Partners”

With Loudcrowd, Nabeel Hyatt Sees Mult-Billion-Dollar Opportunity in Music Gaming: “This Thing Is Ours to Screw Up”

I don’t care whether I’m good enough at Dance, one of the online games that’s part of the new music site Loudcrowd, to impress other users. What I want to know is whether I dance better than Massachusetts Governor Deval Patrick. As part of his January 30 tour of the Cambridge Innovation Center, the Govinnovator … Continue reading “With Loudcrowd, Nabeel Hyatt Sees Mult-Billion-Dollar Opportunity in Music Gaming: “This Thing Is Ours to Screw Up””

Still River Systems, Inc. Obtains $33,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=52c4ae53-c95d-49df-a9d6-bba8dbad900e&Preview=1 Date 3/18/2009 Company Name Still River Systems, Inc. Mailing Address 300 Foster St Littleton, MA 01460 Company Description Still River Systems is dedicated to providing physicians and their patients access to high quality, cost-effective proton therapy solutions, and to helping establish this superior treatment modality as a standard of care for … Continue reading “Still River Systems, Inc. Obtains $33,000,000 New Financing Round”

Still River Systems Banks $33M to Accelerate Development of Next-Gen Proton Radiotherapy System

Still River Systems, a Littleton, MA, startup developing a proton radiotherapy system for cancer treatment, has revealed a $33 million financing this morning intended to help the company expedite development of its lead product. The sizable financing was led by Venrock Associates and previous investor Caxton Health and Life Sciences, according to Still River. Venture … Continue reading “Still River Systems Banks $33M to Accelerate Development of Next-Gen Proton Radiotherapy System”

Verenium Struggles to Make Ends Meet

Verenium (NASDAQ: [[ticker:VRNM]]), a biofuels startup based in Cambridge, MA, and San Diego, warned in an annual 10-K income statement filed with the SEC yesterday that independent accountants hired by the firm have raised “substantial doubt about our ability to continue as a going concern.” Losses are piling up from the company’s research and development … Continue reading “Verenium Struggles to Make Ends Meet”

Biotech Survival Index 2: Boston Life Sciences Companies Squirrel Away More Cash for Long Winter

When I last crunched the numbers on the financial health of the Boston area’s public life sciences companies, back in November, I noted that 15 of them had more than $100 million stockpiled. These firms, I reasoned, were likely in a decent position to weather the economic storm. Now with quarterly financial reporting through December … Continue reading “Biotech Survival Index 2: Boston Life Sciences Companies Squirrel Away More Cash for Long Winter”

Shaking Off Defensive Image, Black Duck Aims to Accelerate Software Development with Open Source

When I first wrote about Black Duck Software about five years ago (pre-Xconomy), the company was pitching its open-source code tracking system as a protective measure. Many software companies wanted to incorporate open-source code into their products—why reinvent an e-commerce module for taking credit card numbers, for instance, if there’s already a perfectly good open-source … Continue reading “Shaking Off Defensive Image, Black Duck Aims to Accelerate Software Development with Open Source”

Quattro Wireless Obtains $10,000,000 Series C Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=54c5aa7e-e90f-4864-b665-0db58cb9837f&Preview=1 Date 3/17/2009 Company Name Quattro Wireless Mailing Address 260 Charles St Waltham, MA 02453 Company Description Through its industry-leading mobile workbench, publishing and analytics platform, Quattro empowers Web publishers of all shapes and sizes to build, manage and extend a dynamic, advertising-supported mobile Web experience. Under the GetMobile umbrella, Quattro Wireless … Continue reading “Quattro Wireless Obtains $10,000,000 Series C Financing Round”

Still River Systems, Inc. Lands $33,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=52c4ae53-c95d-49df-a9d6-bba8dbad900e&Preview=1 Date 3/17/2009 Company Name Still River Systems, Inc. Mailing Address 300 Foster St Littleton, MA 01460 Company Description Still River Systems is dedicated to providing physicians and their patients access to high quality, cost-effective proton therapy solutions, and to helping establish this superior treatment modality as a standard of care for … Continue reading “Still River Systems, Inc. Lands $33,000,000 New Funding Round”

MobileCamp Boston 2

Spring is the season for “un-conferences” like MobileCamp Boston 2, where participants demo anything and everything they’re working on and learn from each other. Sessions may include: Mobile messaging: SMS and new alternatives Agile development for mobile apps Flash Lite Analytics for Mobile apps Building mobile commerce applications Mobile Widget development Community Wireless Mesh Networks … Continue reading “MobileCamp Boston 2”

Y Combinator, Sequoia, and Lessons for the Recession

In January, Paul Graham announced that Y Combinator would no longer operate in the summers out of Cambridge, MA, but instead would stay year round in its other home of Mountain View, CA. The reason he put forth was the impending birth of his new child and the decision that California was the better place … Continue reading “Y Combinator, Sequoia, and Lessons for the Recession”

IgniteChange Boston

From the event description: “A participant generated un-conference event designed to give the community a platform to share ideas on how to apply innovation and creativity to solve social issues currently impacting both our local and global communities. IgniteChange is made up of two important parts: 1. The presentations from those in the community. 2. … Continue reading “IgniteChange Boston”