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Archive for the ‘Georgia’ Category

Private equity firm, management acquire majority stake in Peak 10

Thursday, September 2nd, 2010

Peak 10CHARLOTTE, NC – Welsh Carson, Anderson & Stowe, a private equity firm, and Peak 10′s executive management have acquired a majority stake in the company. Financial details were not disclosed.

Selling shareholders include majority owner Seaport Capital, a New York-based private equity firm and McCarthy Capital, an Omaha, Neb.-based private equity fund.

Peak 10’s existing management team, led by Co-Founder, President and CEO David Jones will continue to operate the business.

Jones said,  “Our partnership with Welsh Carson enables Peak 10 to continue increasing the scale of our business to meet the high demand for data center infrastructure and related managed services. Our strategic focus remains intact but our resources now position us to more rapidly extend our geographic footprint, strengthen our team and further accelerate our managed services and cloud offerings.”

Peak 10 has managed a path of steady and consistent growth achieved through expansion in the greenfield markets of Jacksonville, FL.; Charlotte, NC.; Tampa, FL. and Raleigh, NC, and through acquisitions of established data center companies in Louisville, KY; Nashville, TN.; Richmond, VA and, most recently, Fort Lauderdale, FL.

In 2007 and early 2008, Peak 10 opened greenfield data centers in Atlanta, Ga. and Cincinnati, Ohio respectively. Over the last two years Peak 10 has completed construction of additional facilities in five of its markets to meet customer growth and demand.

The transaction is expected to close in early October.

FX Bridge closes on $1M funding for dealing platform

Tuesday, August 31st, 2010

Fx BridgeATLANTA – FX (Forex) Bridge Technologies Corp., a provider of combined FX spot, CFDs, and options trading software, has closed on a $1.03 million equity financing, according to to a regulatory filing. The company provides an online trading platform for forex (foreign exchange market), options and contracts for difference (CFOs).

The company raised $2.5 million in equity and debt in October.

It says it utilizes the latest Windows Presentation Foundation controls and includes a multi-tabbed, customizable tradestation with an unlimited array of dockable workspace layouts.

Its new Instrument Navigator allows traders to maneuver effortlessly among thousands of spot, option and CFD products.

Dealers get a customer alerting, communication, and monitoring subsystem which allows them to track, communicate en mass, and handle one-on-one contacts with their entire trader base in any language.

It’s interesting, the range of financial services companies that are headquartered in Atlanta. Although Charlotte in North Carolina is also a banking center, it has not, at least to this point, seen anything remotely like the much broader financial services spinouts, tech companies and offshoots that Atlanta has and continues to produce.

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.

Atlanta insurance IT firm Ebix buying A.D.A.M. for $66M

Monday, August 30th, 2010

EbixATLANTA — Ebix, Inc. (NASDAQ: EBIX), an international supplier of on-demand software and e-commerce services to the insurance industry,  has agreed to merge with A.D.A. M. Inc., (NASDAQ: ADAM), a provider of health information and benefits technology solutions in the United States. Ebix will acquire A.D.A.M. on a debt-free basis for $66 million.

Ebix says the move accelerates its health insurance strategy and that the two Atlanta-based companies have “highly complementary organizations and product families.”

Ebix Chair, President and CEO Robin Raina said, “At a particularly challenging time for the health insurance industry, we believe that this combination vaults the combined company into a powerful role with respect to employers, brokers, carriers and health insurance organizations — together we expect to shape the health insurance industry for years to come.”

Both companies have strong recurring revenue streams, with the merger creating a combined Company with 75 percent plus recurring revenue streams.

Gliknik injects $1.9M, seeks $4M for immune system therapy

Monday, August 30th, 2010

GliknicBALTIMORE, MD – Gliknik, a biopharmaceutical company developing treatments for cancer and autoimmune diseases, has raised $1.9 million of a targeted $4 million equity round that includes warrants and options, according to a regulatory filing.

The company disclosed in June that Maryland Health Care Product Development Corp. (MHCPDC) had invested an undisclosed amount in the company and said it would invest an additional amount of equity this summer.

The MHCPDC is a non-profit venture investment organization and a supporting organizationof the Tech Council of Maryland.

The company also raised a $3.6 million round in Janurary.

The company evolved from research by Atlanta’s Emory University professor Dr. Scott Strome.

The company was founded by David S. Block, CEO and president, who was previously a senior executive at DuPont Merck and was COO of Celera Genomics. A serial entrepreneur, he also previously founded Ruxton Pharmaceuticals in 2004, a venture-backed startup.

Gliknik disclosed the funding in a filing with the US Securities and Exchange Commission.

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.

Atlanta’s Vertical Acuity buzzes with $1.7M of $4.2M target

Monday, August 30th, 2010

Vertical AcuityATLANTA – Vertical Acuity Inc. has raised $1.7 million of a targeted $4.2 million mixed securities offering, according to a regulatory filing. Investors include Atlanta-based Kinetic Ventures and Rho Ventures and Roth Partners, both based in New York.

The company previously raised more than $1 million from angel investors and Kinetic.

Principals cited in the filing with the US Securities and Exchange Commission include Betsy Morgan, who was previously CEO of the Huffington Post, which grew from 4 to 22 million monthly unique visitors as she helmed the company.

Founded in 2007, Vertical Acuity sells content optimization services.

The company says its platform empowers automated, mass scale content syndication across hundreds of websites, with no formal business or technology relationship between them. In essence, we enable content to “route”.

For a profile of the company we did in 2009 see: Vertical Acuity brings market intelligence to the product level

However, the firm appears to have changed directions somewhat since we last talked with them. We’ll be giving them a call to update you on what they’re doing. Stay tuned.

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.

Nearly half of SMBs hit by cybercrime

Tuesday, August 24th, 2010

Panda SecurityORLANDO, FL - Panda Security, a cloud-based Internet security firm, says its latest survey of small and medium-sized businesses (SMBs) shows that nearly half (46 percent) have been victims of cybercrimes. That’s up 2 percent from its last survey.

The 2010 survey revealed there has been little to no improvement from last year in SMBs using industry standard protection methods.

Thirty-one percent of businesses are operating without anti-spam, 23 percent have no anti-spyware and 15 percent have no firewall.

“Many SMBs simply don’t have the resources in terms of budget, time and human capital to devote to protecting their computers and sensitive data,” said Sean-Paul Correll, threat researcher at PandaLabs.

“The study results are proof that IT service providers and vendors have an important role to play in educating small businesses on threats, and helping them determine the best way to protect themselves.”

Additional findings from the study related to businesses’ investment in security and malware infection rates include the following:

Investment in Security
– Security budgets remain about the same as last year, although when asked if they had anyone dedicated to security management, only 63
percent of companies in the U.S. confirmed they had;
– Thirteen percent of U.S. SMBs are operating without security systems in place at all. Fifty-seven percent of this group reported the reason
for lacking security was that it is viewed as not important or necessary;
– Of the companies that do have protection in place, 36 percent of U.S. SMBs said they were using free solutions that are designed for home
users. Ninety-seven percent said they have installed an anti-virus solution on their computers. However, 12 percent admitted these systems were out of date;
– The most widely used security solutions are anti-virus and firewall products,

We’ve found that even keeping our security software up to date and running several specialized programs doesn’t prevent malware from sneaking in from the Internet. Still, being vigilant helps and so far we’ve managed to avoid disastrous infections.

We are encouraged by a number of new security products, including Panda’s, which taxes a system less because it is cloud-based, but also external systems that corral malware in a separate unit so that it never penetrates to your system.

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.

Social networking at work leads to productivity loss

Tuesday, August 24th, 2010

InternetSafetyATLANTA – The lure of the Internet continues to sap productivity at work and in some cases leave businesses vulnerable to potentially expensive lawsuits, according to a series of reports released in recent months, says InternetSafety.com.

In March, for example, Nielsen’s quarterly Three Screen Report on U.S. media usage showed that approximately 44 percent of all online video is being viewed in the workplace.

In April, it was revealed that U.S. Securities & Exchange Commission employees spent up to eight hours a day accessing Internet porn while the country was in the throes of an economic meltdown.

The same month, Nielsen disclosed that more than 21 million Americans – or 29 percent of working adults – now access adult websites from work computers.

Facebook can cause loss of productivity

Last year, Nucleus Research released the results of an employee survey showing that companies that allow users to access Facebook in the workplace lose an average of 1.5 percent in total employee productivity.

Some employees said they accessed their Facebook accounts as much as two hours a day on the job, with 87 percent of those surveyed admitting that they had no clear business reason for using the social network.

And just two months ago, the Commissioner of Human Resources in Vermont reported that Internet usage at the agency dropped by 25 percent – a full 2,300 hours – in the first week of a new program designed to monitor their web viewing habits.

The change suggests that state employees were squandering the equivalent of 57 full-time positions per week, or almost 120,000 employee hours over the course of a year.

“Web surfing on company time robs the employer of paid work, and it exposes companies to legal liabilities associated with inappropriate or illegally downloaded content,” said InternetSafety.com CEO Forrest Collier.

Harassment lawsuits possible

“The mere presence of pornography in the workplace is grounds for a sexual harassment lawsuit, which can cost an average $250,000. Even a small company can lose tens of thousands of dollars in work time over the course of a year from cyberslacking.”

The company says the new data highlights the need for online filtering programs such as its Safe Eyes Business, which can reclaim more than $185,000 worth of lost work time for a 50-person company in which $15-an-hour employees spend just one hour a day in personal Web surfing.

We find our own social networking tends to be a mix of professional and  personal, but even the personal is often connected, if tenuously to our work networks.

We know colleagues who have been asked not to use Facebook at work, however.

Twitter and Linkedin use are generally more professional in nature, at least in our networks.

But we can see how filtering software might be necessary in some larger companies and even smaller ones. Social networking can be both compelling and time-consuming. — Allan Maurer

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.

WinSonic tunes in $5M financing agreement

Tuesday, August 24th, 2010

WinSonicATLANTA, GA – WinSonic Digital Media Group (OTCBB: WDMG), which has developed a video transport concept delivers all types of audio, online video, and digital TV at high speeds at lower cost, has closed an equity funding facility with Roswell Capital Partners of Alpharetta.

Roswell has committed to purchase, over a period of two years, shares of the Company’s common stock for cash consideration, up to an aggregate of $5 million.

The company says the agreement is flexible and allows it to control how and when it raises equity.

The company is a facilities-based media distribution solutions company with a distinctive video transport concept it says enables users to view, interact, and listen to all types of audio, online video, and digital TV, in full-screen format, at high speeds, superb quality, and greatly reduced costs, while reducing the need for expensive high-speed connections.

SpectralFluidics nabs funding from In-Q-Tel

Thursday, August 19th, 2010

spectrafluidicsGOLETA, CA – SpectraFluidics, a company developing a platform for sensing air borne molecules at ultra low concentrations, has raised funding in an undisclosed amount from In-Q-Tel, the venture fund supporting missions of the US Intelligence community.

The technology behind Spectrafluidics’ system is a unique combination of free-surface microfluidics and surface-enhanced Raman spectroscopy.

The high-throughput technology promises to improve screening productivity, and potentially enable 100 percent continuous trace vapor screening in critical applications which have typically relied upon slower sampling protocols and lab analysis instrumentation.

Initial target applications include in-line security screening for explosives, as well as food and agricultural produce where safety, quality and certification are increasingly important.”SpectraFluidics is developing a truly novel approach to real-time airborne chemical sensing, which could ultimately be configured as a hand-held instrument,” said Syd Ulvick, vice president, Physical and Biological Technologies practice at In-Q-Tel.

We’ll keep our eyes on the SEC filings and let you know if the amount of the investment turns up.

American Biosurgical cables in $1.3M raise

Thursday, August 19th, 2010

cablesNORCROSS, GA – American Biosurgical, a company that sells medical cable assemblies, has raised $1.3 million of a targeted $2.5 million equity round, according to a regulatory filing.

The company’s investors include Anda Capital, San Francisco; and M20, a family investment fund.

Founded in 1996, the company has distribution facilities in Atlanta and Los Angeles and a manufacturing plant in Dong Guan, China.

The company disclosed the raise in a filing with the US Securities and Exchange Commission.

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.