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SOUTHEAST TECH WIRE -- Aug. 19, 2002
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To Subscribe For Free: http://www.southeasttechwire.com
o Shelby-based Invesys Sensor Systems Sold to Honeywell for $415 Million
o Verizon Wireless Completes $1.7 Billion Acquisition of Cellular One
o Scientific-Atlanta To Continue Providing Products To Bankrupt Adelphia
o Berkshire Partners, Blum Capital Investing $75.7 Million in PRG-Schultz
o Six Presenting Companies at Florida Venture Forum Raise $13.9 Million
o Sarasota-based CPC Raises $3.2 Million in Private Placement
o Information Architects Raises up to $700,000 in Private Placement
o Briefly Noted: EarthLink, General Defense Systems,
Access Integrated Networks - BellSouth
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o Shelby-based Invesys Sensor Systems Sold to Honeywell for $415 Million
Shelby, N.C. -- In a $415 million cash deal, New Jersey-based Honeywell, a
diversified industrial company, has agreed to acquire Shelby-based
Invensys Sensor Systems, a supplier of sensors and controls for a broad
range of industries. Invensys Sensor Systems, a subsidiary of London-based
Invensys, operates 13 manufacturing facilities in 6 countries, including
the U.S., UK, China, Mexico and the Czech Republic. The company has 2,700
employees. Honeywell said that it is acquiring the company to strengthen
its product offerings in the medical and automotive sectors.
http://biz.yahoo.com/bw/020819/182013_1.html
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o Verizon Wireless Completes $1.7 Billion Acquisition of Cellular One
Alpharetta, Ga. -- Verizon Wireless has completed its $1.7 billion
acquisition of the Southeast wireless operations of Price Communications,
which does business in the region as Cellular One. Financial terms of the
deal were not disclosed. The acquisition includes 40 retail stores, a
regional call center in Atlanta, network infrastructure and nearly 200
agent locations. The business will be folded into the Verizon Wireless
brand name during the next 12 to 15 months, with about 600 Price employees
joining Verizon Wireless.
http://biz.yahoo.com/prnews/020815/atth023_2.html
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o Scientific-Atlanta To Continue Providing Products To Bankrupt Adelphia
Atlanta -- Scientific-Atlanta, a provider of cable network equipment, said
on Monday that it has reached an agreement to continue providing products
and services to Adelphia Communications, a bankrupt cable service
provider. Adelphia currently owes Scientific-Atlanta about $83 million in
accounts receivable, which are in question due to Adelphia's current
bankruptcy proceedings.
http://biz.yahoo.com/prnews/020819/atm010_1.html
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o Berkshire Partners, Blum Capital Buying $75.7 Million in PRG-Schultz
Atlanta -- Two investment groups have agreed to pay $75.7 million for
about 8.8 million shares in Atlanta-based PRG-Schultz International Inc.,
a provider of recovery audit software and services. The stock is being
sold by PRG-Schultz's chairman, Howard Schultz, and its executive vice
president and director, Andrew Schultz. PRG-Schultz's software and audit
methodologies are designed to recover lost profits due to overpayments or
under-deductions. The company is retained on a pay-for-performance basis,
receiving a percentage of each dollar recovered. PRG-Schultz employs about
3,500 employees in 40 countries.
http://biz.yahoo.com/prnews/020819/nym085_1.html
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o Six Presenting Companies at Florida Venture Forum Raise $13.9 Million
Miami -- The Florida Venture Forum, a networking group for entrepreneurs
in the state, said on Monday that six of the 18 presenting businesses at
its annual Florida Venture Capital Conference in January have raised $13.9
million in capital. The six companies and the amount of funds they have
received are listed below:
- Orlando-based Xytrans Inc., a supplier of transceivers for broadband
communications ($8.3 million)
- Boca Raton-based Partner Community, a provider of management software
for service providers ($600,000)
- Ponte Vedra Beach-based Copharos Inc., a developer of proprietary
vitamin B-12 based imaging and therapeutics for cancer ($2.5 million)
- St. Petersburg-based In.vision Research, a developer of e-business
software ($400,000)
- Orlando-based psiloQuest, a developer of polishing pads used to
manufacture semiconductors ($150,000)
- West Palm Beach-based ScriptRX, a provider of touch-screen interactive
healthcare systems ($2 million)
http://www.flvencap.org
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o Sarasota-based CPC Raises $3.2 Million in Private Placement
Sarasota, Fla. -- With a non-invasive treatment for coronary artery
disease under review for regulatory approval, CPC of America Inc., a
developer of medical devices, has raised $3.2 million in a private
placement. The investors were not disclosed. CPC has submitted its
coronary artery treatment to the FDA for market clearance.
http://biz.yahoo.com/prnews/020819/flm001_1.html
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o Information Architects Raises up to $700,000 in Private Placement
Charlotte, N.C. -- While its shares are scheduled to be delisted by the
Nasdaq, Charlotte-based Information Architects, a provider of information
integration services, said on Monday that it has entered into a private
placement to raise up to $700,000 from its CEO and another individual
investor. CEO Robert Gruder has agreed to invest up to $600,000, while the
second investor has invested $100,000. The company said that it had been
"aggressively seeking to raise (funds in the capital markets) for several
months," but was unable to do so on favorable terms.
http://biz.yahoo.com/prnews/020819/chm011_1.html
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o Briefly Noted:
(Atlanta) Atlanta-based Earthlink, one of the largest Internet service
providers in the country, has introduced a new free feature that allows
its subscribers to block pop-up online advertisements. The feature is
embedded within the Microsoft Internet Explorer toolbar. Every time an
unwanted ad window is suppressed, the blocking feature alerts customers
with an optional sound effect and a brief change in the appearance of the
mouse icon. EarthLink acquired the technology for its new service from
Salt Lake City-based FailSafe Technology Inc.
http://biz.yahoo.com/prnews/020819/lam026_1.html
(Boca Raton, Fla.) Boca Raton-based General Defense Systems, a provider of
large-scale security applications for government and private
organizations, said on Monday that it has received a letter of intent
identifying the company as a proposed subcontractor for a minimum of $10
million in U.S. government contracts.
http://www.newsalert.com/bin/story?StoryId=CpwbTqbKbytiZoti&FQ
(Macon, Ga.) Macon-based Access Integrated Networks (AIN), a provider of
voice and data services to small business customers in the Southeast, said
that a U.S. District Court has denied a motion by BellSouth to issue an
injunction against AIN with regard to its marketing tactics. AIN said the
presiding judge found that the company had already corrected its
practices, which BellSouth claimed infringed on its brand identity and
included false claims by AIN of business affiliations with BellSouth.
http://www.newsalert.com/bin/story?StoryId=CpvX4WbWbqvrgmda1&FQ
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> Multi-million Dollar Telecom Auction
Thursday August 22, 2002 10:07 AM (EST) Atlanta Georgia. $4 Million to be
sold ABSOLUTE to the high bidders. Nortel Passport Riverstone & Cisco
Routers OC 3/48 Switches ANX SUN Network Appliance Altium DMC Stratex &
Much More! Most Assets are less than 2 years old many new in original
packaging Webcast, Internet, On-Site & Telephone Bidding. Telecom and ISP
buyers you don't want to miss this one. Visit http://live.paxauctions.com
and http://www.atlanticremarketing.com
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> Email Management - Legal Issues and IT Solutions
A briefing on the legal, regulatory and operational risks of e-mail
management and retention in a volatile political and technological climate
is being hosted by the Washington-based law firm of Cohen Mohr and
StorageTek, a leading provider of digital storage solutions. The program
will address important legal and regulatory developments, compliance
rqmnts and emerging operational solutions to critical email archival and
content mgmt challenges. The briefings will be held in Charlotte Aug 22,
Raleigh Aug 23 and Atlanta Sept 18. To register, call 1-800-786-7835
extension EMAIL SEMINAR or log on to
http://www.storagetek.com/emailseminar.
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Copyright: CapWire Inc. 2002
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