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To Subscribe For Free: http://www.southeasttechwire.com o Fort Lauderdale-based ProxyMed Raises $25 Million in Private Placement o Fort Lauderdale-based ProxyMed Raises $25 Million in Private Placement Fort Lauderdale, Fla. -- With an eye towards potential acquisitions, Fort Lauderdale-based ProxyMed, a provider of applications for processing healthcare transactions, has raised $25 million through a private placement. As a result of the transaction, General Atlantic Partners, a private equity firm, will hold a 23% stake in the publicly traded company. ProxyMed operates a national electronic network that automates administrative and clinical transactions for doctors. Recent efforts by the federal government to cut paperwork for Medicare transactions is seen as a key driver for ProxyMed's growth. http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=PILL&script=1500 _____________________________________________ o IBM Stuns Wall Street With Earnings Shortfall; Stock Drops 10% Research Triangle Park, N.C. -- Shares of IBM, the largest technology employer in the Research Triangle, saw its stock price fall 10% on Monday after warning of huge earnings and revenue shortfalls for its latest quarter. The announcement by IBM, which has nearly 15,000 employees in RTP, stunned many Wall Street analysts because the company has not lowered its earnings estimates since 1991. The company blamed the shortfall on technology spending cutbacks by corporate customers. The warning comes just one month after CEO Samuel Palmisano took over from Louis Gerstner. IBM's stock was trading near $87 per share in mid-day trading. http://biz.yahoo.com/rb/020408/tech_ibm_outlook_4.html _____________________________________________ o RF Micro Files With SEC To Raise $500 Million in "Shelf Registration" Greensboro, N.C. -- In a move aimed at possibly lowering its debt, Greensboro-based RF Micro Devices, a company that makes circuits for wireless phones, filed registration papers with the Securities and Exchange Commission late last week to raise up to $500 million through debt and stock offerings. The "shelf registration" gives RF Micro Devices flexibility in deciding the date and financial instrument it will use to raise funds. RF Micro Devices said the proceeds will be used to pay down debt and for general corporate purposes. http://biz.yahoo.com/rf/020404/tech_rfmicro_shelf_1.html _____________________________________________ o Charlotte-baesd Peak 10 Raises $9.2 Million in Third Round Charlotte, N.C. -- Charlotte-based Peak 10 Inc., a provider of regional data center services, raised $9.2 million in its third round of venture capital led by Charlotte-based Frontier Capital and New York-based Seaport Capital. Both firms previously invested in Peak 10, which offers a range of data hosting, management, and security services. The company operates a 14,000-square-foot facility in Jacksonville and a 26,000-square-foot facility in Charlotte. It is currently planning a third facility in Tampa. Peak 10 said the latest round of venture capital will fund the company to break-even status and will finance the construction of additional data centers. http://www.newsalert.com/bin/story?StoryId=Cpk0VubKbytiWntG _____________________________________________ o Florida-Based Virtual Payroll Sells Customers to SurePayroll Margate, Fla. -- Five years after becoming the first payroll company to offer its services exclusively over the Internet, Margate-based Virtual Payroll said on Monday that it has sold its customer list to Illinois-based SurePayroll for an undisclosed amount. Virtual Payroll said the move is an effort to return to its roots as a software development company. The deal calls for Virtual Payroll's hundreds of clients to automatically transfer to 3-year-old SurePayroll. "We had to decide whether to spend more money on developing a system to catch up to the competition, or simply spin off the division," said company President Rey Monzon. "In the end, we wanted to focus on our core business." http://www.NewsAlert.com/bin/story?StoryId=CplevWbWbq0DnmdiW&FQ _____________________________________________ o Atlanta-based Incanta Lays Off Majority of Employees Atlanta -- With just one paying customer, Atlanta-based Incanta, a provider of broadband content delivery technology, said that it has cut 37 of its 43 employees. Incanta, which was founded in 1999 by a group of former Nortel executives, raised about $20 million of venture capital. A company spokesman said it has commitments for product trials with four major cable operators, but its top managers are now focusing on additional fund raising. Incanta implemented its first revenue-generating contract in January with West Point, Ga.-based Knology, a broadband services provider. http://www.incanta.net/ _____________________________________________ ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| > Receive SOUTHEAST TECH WIRE Every Day For Free Southeast Tech Wire is a free daily email newsletter that summarizes the most important technology, venture capital and Internet stories from North Carolina, Georgia, Florida and South Carolina -- with a particular focus on the Research Triangle, Atlanta and Florida's Technology Corridor. Subscribe at: http://www.southeasttechwire.com ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| _____________________________________________ o Briefly Noted: (Research Triangle Park, N.C.) RTP-based Red Hat Inc., a provider of open-source Linux software that competes with Microsoft, said that it has successfully converted an important component of Credit Suisse First Boston's (CSFB) worldwide financial trading architecture to Red Hat's technology. CSFB has one of the most advanced trading floors on Wall Street. CSFB's trading system processes about 35 million global transactions a day. http://biz.yahoo.com/bw/020408/82117_1.html (Charlotte, N.C. and Boca Raton, Fla.) Charlotte-based MovieTickets.com and Boca Raton-based Consolidated Theatres launched a new service on Monday that allows users to purchase tickets online for Consolidated Theatres' cinemas in Virginia and the Carolinas. MovieTickets.com provides customers the ability to print purchased tickets at home and email tickets to others. http://www.movietickets.com/pressreleases.asp?year=2002&pr_id=26 (Atlanta) Atlanta-based o2wireless Solutions, a developer of wireless network technology that raised $73 million in an initial public offering two years ago, announced that it has named Andrew Roscoe as its new president and CEO. Roscoe will succeed Murray Swanson. Roscoe formerly served as the CEO of the DC-based Strategis Group, a telecommunications research firm. The company's stock, which traded over $20 per share following its IPO in 2000, traded around $0.64 per share on Monday http://biz.yahoo.com/prnews/020404/nyth122_1.html (Atlanta) Atlanta-based EarthLink, one of the largest Internet service providers in the country, announced on Monday the launch of its high-speed service on Time Warner's cable system in San Diego. One of the federal government's conditions for approving last year's merger of AOL and Time Warner was that the merged company would be required to open up its cable network to competitors, including EarthLink. http://biz.yahoo.com/prnews/020408/lam068_1.html (Research Triangle Park, N.C.) PricewaterhouseCoopers said last week that it has pledged $100,000 to the Council for Entrepreneurial Development (CED), the largest technology and entrepreneurial organization in Research Triangle Park. The pledge is for the CED's "Innovation to Impact" campaign, which is raising $3 million. About 25 companies and firms have already made $100,000 pledges to the campaign. http://www.newsalert.com/bin/story?StoryId=CpkK60bKbyti1mde (Jacksonville, Fla.) Jacksonville-based e-house, a provider of computer and security technology for homes, has named Mark Brockelman as its CFO. Brockelman is the former CFO of Fortune Financial, a publicly held insurance company. http://www.businesswire.com/cgi-bin/f_headline.cgi?bw.040802/220982301 (Raleigh, N.C.) The Capital Area Workforce Development Board, an economic development agency based in Raleigh, has received a $2.6 million federal grant that will be used to fund technology education and training programs at two area community colleges. New programs at both Wake Technical Community College and Johnston Community College, which are funded by the two-year grant, will serve an estimated 400 individuals. http://web.co.wake.nc.us/ (Atlanta) Atlanta-based HouseHold Direct, a holding company for e-commerce companies, announced on Monday that it has completed its acquisition of California-based eDemnify Systems Corporation, a company that sells insurance over the Internet. The financial terms of the deal were not disclosed. HouseHold Direct's stock trades on the over-the-counter market. http://biz.yahoo.com/bw/020408/82095_1.html (Alpharetta, Ga.) Alpharetta-based MAPIC, a developer of computer applications for manufacturers, has named Jeff Cashman as its new chief marketing executive. Cashman is the co-founder of Viewlocity, a provider of chain management applications. http://biz.yahoo.com/prnews/020408/atm008_1.html (Winston-Salem, NC) The Winston-Salem Journal reported on Monday that biotech companies are dominating the downtown Piedmont Triad Research Park, and their numbers are expected to grow. Eight of the 20 companies in the park are biotech related. The article said that about 600 researchers, scientists, executives, and faculty work in the six-year-old research park -- with an annual payroll of nearly $25 million. http://www.journalnow.com/wsj/business/MGBL6SFCRZC.html =================================================== To subscribe, go to: http://www.southeasttechwire.com Questions or comments? Send email to: paul@southeasttechwire.com News tips, press releases. Send email to: editorial@southeasttechwire.com To change your subscription email address, please unsubscribe the old address and then subscribe your new email address at: http://www.southeasttechwire.com Copyright: CapWire Inc. 2002
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