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SOUTHEAST TECH WIRE -- Aug. 29, 2002
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To Subscribe For Free: http://www.southeasttechwire.com
o Learfield Communications Acquires Chapel Hill-based Goheels.com
o Nortel Wins $94 Million Contract in Turkey
o Baran Group Acquisition of o2wireless Loses 57% of Stock
o Ft. Lauderdale-based Tiger Telematics Raises $3 Million
o IBM Files for E.U. Antitrust Clearance for PwC Consulting Acquisition
o BellSouth Continuing Investments in Colombia Cellular Operations
o Former CEO of SAS' iBiotamics Unit Joins ADMETech as CEO
o Briefly Noted: SciQuest, IBM - TrelliSoft, NeoMedia Technologies Inc.
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o Learfield Communications Acquires Chapel Hill-based Goheels.com
Chapel Hill, N.C. -- Missouri-based Learfield Communications, an operator
of various sports sites including TarHeelBlue.com, has purchased the
Internet sports sites operated by Chapel Hill-based VilCom, including
Goheels.com. The website covers sports teams from the University of North
Carolina. Also part of the sale was ACCToday.com, a site that covers the
Atlantic Coast Conference. Learfield Communications is expected to fold
the Goheels.com site into TarHeelBlue.com, a site that it operates for
UNC. "While this small company was unusually successful, it is no secret
that in a changing Internet environment, it is hard to build a business of
a standalone advertiser-supported web operation," said Jim Heavner,
president of VilCom. "Significant value is added by this transaction
because Learfield will be able to package this audience with its highly
successful Tar Heel Sports Marketing operation."
http://www.goheels.com/article.asp?ArticleID={C765E725-C68C-480D-A5D3-0DA81693F1E0}
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o Nortel Wins $94 Million Contract in Turkey
Research Triangle Park, N.C. -- In the wake of bad news for the company on
Wednesday -- including a lowered earnings forecast and a new round of
7,000 job cuts -- Nortel Networks, one of RTP's largest technology
employers, said that it has won a contract in Turkey for digital wireless
equipment worth $94 million. The contract is part of a plan by
Turkey-based Ayecell, a wireless carrier, to upgrade its network over the
next three years.
http://biz.yahoo.com/bw/020829/290122_1.html
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o Baran Group Acquisition of o2wireless Loses 57% of Stock
Atlanta -- Citing continued depressed conditions in the wireless industry,
Atlanta-based o2wireless Solutions Inc., a provider of outsourced
technology services, has agreed to amend its merger agreement with Tel
Aviv-based Baran Group, an engineering services firm. Facing falling
revenues and an anemic share price, o2wireless agreed in June to the
merger. The amendment cuts the value of the stock portion of the deal
that Baran Group will pay for o2wireless by 57%. As part of the deal,
Baran has advanced $5 million to the company. Baran said that it plans to
list its shares on the Nasdaq national market prior to Nov. 15, before the
merger with o2wireless.
http://biz.yahoo.com/prnews/020606/atth021_1.html
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o Former CEO of SAS' iBiotamics Unit Joins ADMETech as CEO
Research Triangle Park, N.C. -- RTP-based ADMETech, the soon-to-be-owner
of drug-discovery technology developed at the University of North Carolina
at Chapel Hill, has hired Scott Neuville as its CEO. The technology being
acquired by ADMETech has reportedly been supported by $700,000 in research
funds from Pfizer and Bristol-Myers Squibb. Neuville, the former top
executive of SAS Institute's iBiomatics subsidiary, told the News &
Observer that he anticipates that ADMETech is in a strong position to
raise $4 million to $5 million in venture capital. Durham-based Serenex,
another company with technology designed to speed up the drug-discovery
process, recently raised $15 million of venture capital.
http://www.newsalert.com/bin/story?StoryId=Cpw2CqaicuKeTrfjvrY1uruni
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o Ft. Lauderdale-based Tiger Telematics Raises $3 Million
Fort Lauderdale, Fla. -- In a move to fund its London subsidiary and
further its product development, Fort Lauderdale-based Tiger Telematics, a
provider of telematics technology for the auto, computer and
telecommunications industries, said that it has received a $3 million loan
commitment from an undisclosed private bank. The company plans to draw
down the loan in three installments of $1 million each before the end of
the year.
http://biz.yahoo.com/bw/020829/292134_1.html
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o IBM Files for E.U. Antitrust Clearance for PwC Consulting Acquisition
Research Triangle Park, N.C. -- IBM, the largest technology employer in
RTP, has filed for early clearance with the European Union for the
company's planned $3.5 billion acquisition of PwC Consulting. Under E.U.
rules, the organization has until Sept. 23 to decide whether to give the
deal an early approval or undertake a 4-month-long, detailed study of the
acquisition for possible antitrust issues. IBM's Global Services division
is already the world's largest provider of information technology
services; the E.U. could require it to spin off certain assets or
otherwise force some concessions prior to granting approval of the deal.
http://biz.yahoo.com/djus/020829/1043000423_1.html
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o BellSouth Continuing Investments in Colombia Cellular Operations
Atlanta -- A spokesman for the cellular industry in Colombia said on
Wednesday that the country's three wireless service providers -- among
them, BellSouth Colombia -- will invest a total of $240 million for
equipment upgrades this year. Jose Bautista, of the Colombian Cellular
Industry Association, said that none of the three wireless carriers in the
country have posted a profitable year since launching in 1994 after paying
a total of $1.3 billion for spectrum licenses. Colombia has 3.8 million
wireless subscribers, about 63% of whom use "pre-paid" minutes, which are
bought directly through the wireless providers or through calling cards
sold on city streets.
http://biz.yahoo.com/rf/020828/telecom_colombia_1.html
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o Briefly Noted:
(Research Triangle Park, N.C.) RTP-based SciQuest, a provider of software
and services for pharmaceutical and biotechnology research operations,
said on Thursday that its board of directors has approved a $5 million
stock repurchase program for the next twelve months. The company said that
it has purchased about $557,000 worth of shares under the program so far.
http://biz.yahoo.com/bw/020829/292072_1.html
(Research Triangle Park, N.C.) IBM said on Thursday that it has acquired
Illinois-based TrelliSoft, a privately held developer of software for
corporate data-storage networks. Financial terms of the deal were not
disclosed. TrelliSoft employs 30 people and has 35 customers.
http://biz.yahoo.com/ap/020829/ibm_trellisoft_1.html
(Fr. Myers, Fla.) Ft. Myers-based NeoMedia Technologies Inc., a provider
of Internet-based technology for transferring print materials into
electronic form, said that the company's consulting and integration group
has received an order valued at $1.5 million from the Midwestern
subsidiary of an undisclosed, large international financial firm.
http://biz.yahoo.com/bw/020829/292052_1.html
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