ORLANDO, FL – Voxeo Corp., a company selling unified communications products, has acquired ClackPoint, a real-time multi-media collaboration platform provider. Financial terms were not disclosed. We’ve done quite a few Voxeo acquisition stories. This is the company’s eighth in the last two years.

Over 100,000 people each month use ClackPoint’s online voice, video and text virtual conference rooms to connect and collaborate with colleagues, friends, and social networks. Attendees can access ClackPoint’s virtual conference rooms using any telephone, SIP VoIP device and service, Skype phone and IM clients, and ClackPoint’s own Flash-based phone and IM web client.

Venture-backed Voxeo has raised nearly $80 million, including a $9 million recap last year from North Atlantic Capital and the Florida Growth Fund, which we also reported. The company says it “unlocks” communications across voice, video, SMS, USSD, IM and the mobile web.

Voxeo says it has invested over $50 million in infrastructure, technology, and programs to deliver versatile, standards-based platforms and hosting solutions for interactive voice response (IVR) and VoIP telephone applications.

IVR applications allow users to retrieve information such as bank balances, flight schedules, and movie show times from any telephone.

The company acquired Motorola’s OEM VoiceXML browser business, including full and exclusive rights to Motorola’s VoxGateway VoiceXML browser  in October.

It acquired IMified, the world’s largest hosted instant messaging application development and deployment platform in May.

Online: www.voxeo.com

BOCA RATON, FL – Stem Cell Assurance, a company that provides private stem cell collection, storage, treatment and preservation services, says it has received financing from MDwerks Inc.’s Xeni Finance subsidiary to purchase various medical devices.

The amount of the financing was not disclosed.

The company also said it will partner with MDwerks (OTC:MDWK) through its subsidiary Digital Pen Applications Inc. in marketing its products and services to the medical community.

Storage (banking) preserves the age of stem cells and, therefore their potency and allows an individual to preserve his stem cells when they are healthy and later have access to them when needed.

Online: www.stemcellassurance.com

BETHESDSA, MD – Virtustream, a company selling managed and virtualization services, has added $342,000 to an earlier offering, according to a regulatory filing.  We reported that the company raised $25 million from Virginia based Columbia Capital and Miami based Blue Lagoon Capital in September last year.

“Virtustream has deep virtualization experience, breadth & depth of highly scalable services, strategic alliances with key hardware and software partners as well as unique business and pricing models making them a compelling alternative to larger firms,” said Rodney Rogers, CEO of Blue Lagoon Capital at the time of last year’s financing.

The company disclosed the add-on funds in a filing amendment with the U.S. Securities and Exchange Commission.

Virtustream recently acquired VirtualizeIT, the a European consultancy practice dedicated to the advancement and adoption of virtualization technologies.

It also acquired Brigh Technologies, a North American provider for the design and deployment of custom solutions in the virtualization space.

Online: www.virtustream.com

COLUMBIA, MD -  Martek Biosciences Corporation (NASDAQ:MATK) has agreed to purchase Amerifit Brands Inc., a consumer health and wellness company, from Charterhouse Group, Inc. in an all-cash transaction valued at $200 million, subject to working capital adjustments.

Amerifit Brands develops, markets and distributes branded consumer health and wellness products focused on women’s and digestive health benefits.

Under the terms of the transaction, Martek will pay consideration of $200 million, subject to working capital adjustments, of which $120 million will be paid from Martek’s current cash reserves and the remainder from a new credit facility which has been established by Martek.

Martek develops and sells a vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, infant formula and supplements, and life’sARA (arachidonic acid), an omega-6 fatty acid, for use in infant formula.

Amerifit CEO Cyrill Siewert said, “Amerifit’s capabilities of marketing and growing leading consumer brands along with Martek’s promising product pipeline, robust R&D capabilities, and commitment to science-based products is a compelling combination that should provide powerful opportunities for growth in the years ahead.”

We have followed the research on omega-3 supplements, which most people take in the form of fish oil. Research has shown that they have cardiovascular benefits, improve immune function and have neuro-protective effects.

Online: www.martek.com

MIAMI, FL – CareCloud, a provider of web-based physician practice software and services, has closed an oversubscribed raise of $2.3 million. The company says investors include a cadre of prominent entrepreneurs and business leaders.

We expect to see more healthcare software companies grabbing funding with the government push to move the industry to electronic records and management.

CareCloud says it  is one of the few companies to deliver a truly modern, web-based solution to medical practices. Its cloud-computing platform provides physicians the opportunity to adopt technology with little to no capital investment.

CareCloud connects users through a social networking-based business and clinical system.

“The CareCloud platform treats healthcare and its participants as an ecosystem whereby physicians, patients and others can transact on a business level and collaborate on a human level,” said Albert Santalo, CareCloud’s founder and CEO.

CareCloud also provides a revenue cycle management service.

CareCloud is currently servicing a limited number of clients on its practice management software and revenue cycle management service as it prepares for full product launch in Q2 2010. CareCloud is utilizing the proceeds of this round for development of its electronic medical records product and ongoing sales and marketing efforts.

Online: www.carecloud.com

MCNC's NC expansion plan mapped

RALEIGH, NC – MCNC, an independent non-profit organization that employs advanced networking technologies and systems to continuously improve learning and collaboration throughout North Carolina’s K-20 education community, has been awarded $28.2 million in American Recovery and Reinvestment Act (ARRA) Broadband Recovery Funds.

MCNC operates the North Carolina Research and Education Network (NCREN), one of the nation’s first statewide education and research networks. NCREN provides broadband communications technology services and support to K-12 school districts, higher education campuses, academic research institutions, and public health facilities across the state.

MCNC raised $11.7 million in matching funds for its successful application through private sources, including $4 million from the MCNC endowment, making the total project a $40 million investment in North Carolina’s broadband infrastructure.

“Increased broadband access for underserved areas is a critical infrastructure improvement that will help businesses of all sizes create jobs,” said North Caroliana Gov. Bev Perdue.

Part of a coordinated strategy

We’re told the MCNC award is a key part of a coordinated strategy developed by the N. C. Office of Economic Recovery & Investment to improve broadband access for businesses and residents in underserved areas and enhance feasibility of Health Information Exchange (HIE) initiatives across the state, resulting in improved access to health services.

MCNC will begin work on 480 miles of middle-mile fiber in a three-year construction project.

We think one of the most important secondary affects of these broadband recovery grants is that they also create jobs.

Within the next 60 days, MCNC will issue several requests for proposal (RFP) for the design, construction and operation of the network.  These RFPs have the potential to create more than 230 engineering/construction jobs.

The new fiber build will traverse 37 counties in southeastern and western North Carolina.

The network has the potential to serve more than 1,500 anchor institutions, 180,000 businesses, and more than 300,000 underserved families.

This is North Carolina’s second broadband recovery related award.  In October, North Carolina’s broadband authority eNC received a $2.3 million broadband mapping grant from the U.S. Department of Commerce.

Online: www.mcnc.org

ALEXANDRIA, VA – InSite Wireless Group, established by the founders of Mountain Union Telecom, which was the 7th largest independent tower company in the United States, has closed on just over $750,000 in equity financing, according to a regulatory filing.

InSite Wireless Group is made up of three operating entities:

InSite Wireless, LLC, owns, operates, manages and markets distributed antenna infrastructure solutions.

InSite Connect, LLC,  owns and operates high quality backhaul services. InSite Connect owns 80 percent of Western States Teleport Inc., which was founded in 2001 and has been a major provider of telecommunications backhaul to all of the wireless carriers in the greater San Francisco area. InSite Connect has offices in Oakland, California and Alexandria, Virginia,

InSite Towers, LLC, develops, owns, manages and operates telecommunication towers and sites for wireless carriers.

InSite Wireless Group grew out of InSite Wireless, LLC, which management began in 2000 while simultaneously running Mountain Union, in order to focus on the in-building segment of wireless infrastructure.

At the time of Mountain Union Telecom’s sale to Crown Castle in mid 2006, Mountain Union owned and operated over 500 towers and provided tower infrastructure to all of the major wireless carriers.

According to the company’s Web site, it is financed by individual and private equity groups, including joint ventures with Unison Site Management, LLC and TowerBrook Capital Partners, LP in the Boston Convention Center and Boston Subway System projects.

InSite Wireless currently operates nine DAS facilities with a number of other projects in development. InSite Wireless provides financing, design, construction, leasing, operation and management of shared DAS locations serving the needs of wireless carriers.

We’re bringing this news first based on a filing with the U.S. Securities and Exchange Commission.

We’ve left a message for InSite President and CEO David Weisman, a 25 year veteran of the wireless industry as an attorney, investor and executive. We’ll fill you in on more details if the call is returned. –By Allan Maurer

Online: www.insitewireless.com

Japan's Nagoy University

RESEARCH TRIANGLE PARK, NC -Nu Tech 2010, a one-day conference focusing on investing in collaborative technologies (www.nutechshowcase.org), will include researchers from Nagoya University discussing how a new gene-based promoter can create pathogen-resistant plants.

The  technology allows protective-response genes to be introduced into plants. The result is a transgenic plant that produces a disease-resistant response when introduced to pathogens. This technology offers an opportunity to develop plants for food and commercial use that are disease resistant and can be grown with fewer chemicals.

NU Tech 2010 will feature more than 20 breakthrough technologies in the life science, biotechnology and engineering fields on February 10. Starting at 7:30 a.m. at the Sheraton Imperial, RTP, NU Tech 2010 will feature technology developments from Nagoya University (www.nagoya-u.ac.jp/en/), home to four Nobel Prize-winning professors in physics and chemistry, North Carolina State University, the University of North Carolina at Chapel Hill and East Carolina University.

More than 30 representatives from Nagoya University and the Japan Science and Technology Agency will be in attendance to network with area scientists and researchers.

Featured speakers include:

• North Carolina Secretary of Commerce, J. Keith Crisco
• Vice President of Eisai, Inc., Dr. Ray W. Wood
• Director of Aisin AW and President of EQUOS Research, Masao Ando
• President of Nagoya University, Dr. Michinari Hamaguchi
• President and CEO of the North Carolina Biotechnology Center, E. Norris Tolson

Registration for the event is free of charge and includes continental breakfast, lunch and reception. To register for the event and learn more about Nu Tech 2010, visit www.nutechshowcase.org.

CHANTILLY, VA – BIA/Kelsey analysts say 2010 is shaping up to be a watershed year in digital media. The firm has released its top five trends and industry developments to watch in 2010 in interactive local media, mobile local media, global Yellow Pages, vertical directories and classifieds, and broadcast media.

“For some time now, BIA/Kelsey analysts have been predicting that 2010 will be a watershed year,” said Neal Polachek, president, BIA/Kelsey. “As the economy inches toward recovery and digital media continue to gain ground aided by mobile and social momentum, 2010 will certainly be a pivotal year to track.”

We didn’t find much surprising in the company’s top five predictions. They’re in line with what other analysts are saying. But we’ll revisit these predictions at the end of the year and see how accurate they were.

Top Five Predictions

BIA/Kelsey’s number one prediction: the return of a competitive search market. The company’s interactive local media analysts believe the next two years will fundamentally alter the local media market landscape, based on the thesis that the economic implosion over the past year and a half will irrevocably change advertiser behavior.

They have advised their clients to expect traffic acquisition costs to start to rise. If AOL moves to the Bing camp, the “tri-search-fecta” of Bing-Yahoo-AOL brand would be a competitive one.

Second, they believe the mix of technology, usage and advertiser trends will further define the pace and change of mobile media and affirm the core role mobile will play in the $140 billion local media industry.

Mobile monetization will take hold

In 2010 the analyst team predicts location and geotargeted advertising will represent a long-elusive revenue stream for Twitter and for third parties that mash up Twitter streams and location data. It also expects Facebook to incorporate location data in status updates.

Third, the firm says mobile monetization will take hold. Look for publishers to begin testing discrete monetization paths for their mobile search products. These will range from discrete landing pages to pay per call, it says

Fourth, it says broadcasters will win by focusing on local content and sales, including digital products.

Newfangled ad networks

And fifth, it says “newfangled ad networks” will begin to monetize hyperlocal.

Despite the general devaluation of ad networks and the impact of a poor economy, BIA/Kelsey’s marketplaces analysts believe vertical ad networks hold a great deal of promise. The vertical opportunities in marketplaces appear to be the sector of the Internet economy where many of the biggest opportunities lie.

New vertical combinations could provide a certain amount of sustaining revenues from emerging players, such as networks of hyperlocal sites and local/lifestyle networks.

Its analysts will be watching for agencies to ask for alternative online distribution and to put up the bucks.

Online: www.bia.com

CAMBRIDGE, MA – U.S. Web users surf at average broadband speeds of 3.9 Mbps – lagging behind 17 other nations, according the the most recent quarterly State of the Internet report from Akamai. South Korea had the fastest connections at an average of 14.6 Mbps, and Japan, Romania and Denmark all also posted higher average speeds than the United States.

We work with a Time Warner Turbo connection that hits 18 Mpbs regularly when we speed test it, so we know higher speeds are available. Before we reset our modem recently, we saw our connection drop to 500kbps, and that nearly crippled us even without using any high bandwidth streaming media.

Globally, the average connection speed increased 18 percent to 1.7 Mbps, the Akamai report says.

The United States (ranking 18th overall), saw a small quarterly gain in average connection speeds, increasing to 3.9 Mbps, but declined slightly from a year-over-year perspective.

During the third quarter, 103 of the 226 countries measured had average connection speeds below 1 Mbps, down from 125 countries in the prior quarter.

Mobile speeds average 700kbps

Akamai analyzed the average connection speeds from three of the leading mobile providers within the United States. Initial observations show that the average connection speeds across the three U.S. mobile carriers approached or exceeded 700 Kbps

During the third quarter of 2009, Akamai observed attack traffic originating from 207 unique countries, nearly consistent with 201 unique countries in the second quarter. In a shift from prior quarters, Russia and Brazil unseated the United States and China as the two largest attack traffic sources, accounting for nearly 22 percent of observed traffic in total, half as much as was seen from China and the United States in the second quarter.

The full report and the archive of past reports is available here (requires registration):

www.akamai.com/stateoftheinternet

CARY, NC – Cicero Inc. (OTCBB:CICN),  a desktop atuomation and integration firm, is acquiring Georgia-based SOAdesk in a deal worth about $2.5 million. Simultaneously, Cicero has also closed an offering of more than $1.35 million of its Series B convertible preferred stock.

Cicero has agreed to pay a minimum of $2.5 million over the next three years through a combination of stock and cash for the assets of SOAdesk. In addition, SOAdesk could earn additional consideration based upon certain earn-out formulas within the contract.

SOAdesk sells customer interaction management software.

Cicero says it will sell a new line called Cicero XM that includes technology from both firms.

The acquisition makes Cicero, a pioneer in desktop integration and automation, a much broader provider of solutions in the contact services marketplace, estimated by many analysts to be in excess of $1.5 billion per year.

Three executives at SOAdesk will join Cicero. Tony Castagno, the former CEO, is now chief technology officer. Jim Hunt, the former CTO, is head of product development for the combined company. Mark Garner, the founder of SOAdesk and its president, is now the top sales executive.

Online: www.ciceroinc.com

FORT MYERS, FL – Cinnabar VenturesInc. (OTCBB: CNBR), the creator of the Yippy OS,  a cloud-based operating system currently in beta, has named Richard “Rick” Lisa president and chief operating officer.

We see the company grabbed Lisa from chipmaker Advanced Micro Devices Inc. where he was a vice president.

Prior to AMD, Lisa held senior executive positions managing multi-national efforts in sales, marketing, operations, planning and information systems management at Fairchild Semiconductor Incorporated and Motorola, Inc.

“Rick Lisa has nearly thirty years of experience working in senior sales, marketing and operations management positions for leading technology companies,” said Richard Granville, CEO and chair of Cinnabar.

Cinnabar develops technologies and relationships for Web-OS systems in the cloud computing sector.

Online: www.cinnabarventures.com

CHAPEL HILL, NC – The University of North Carolina at Chapel Hill, Wake Forest University, and Rollins College, Florida, are among the top 25 graduate entrepreneurship programs, according to a ranking by Entrepreneur Magazine and the Princeton Review.

The ranking named Babson College of Wellesley, MA, Philadelphia’s Drexel University, and Temple University tied with the University of Arisona at Tucson, as having the top three graduate programs in entrepreneurship.

The University of North Carolina at Chapel Hill ranked 15. The University of Louisville in Kentucy ranked 16, Rollins College of Winter Park, FL, was 22, and Wake Forest University in Winston-Salem, NC, ranked 24 on the list.

For the full list and undergraduate entrepreneurship winners see:

www.entrepreneur.com/topcolleges/grad/0.html

ARLINGTON, VA – CACI International Inc (NYSE: CACI) has signed a definitive agreement to acquire SystemWare, Inc. SystemWare designs, manufactures, and provides state-of-the-art signals acquisition and analysis systems that enable users to monitor and detect cybersecurity and physical security vulnerabilities and enhance operational security.

Financial details of the transaction were not disclosed.

Founded in 1988, SystemWare is headquartered in Camarillo, California, near CACI’s Oxnard facility, with East Coast operations directed from Elkridge, Maryland, where we note that CACI also has a strong presence.

More than half of the company’s employees hold Secret-level security clearances and above, and its clientele includes the Department of Defense (DoD), the Intelligence Community, federal civilian agencies, and U.S. allies.

CACI sells professional services and IT solutions in the defense, intelligence, homeland security, and federal civilian government arenas.

Online: www.caci.com

The 2010 Southeast Venture Conference (SEVC) has named the second round of companies selected to present at the upcoming conference scheduled for February 24-25th at the Ritz Carlton in Tysons Corner, Virginia. A total of 60 showcase companies from the southeast and mid-atlantic regions will be presenting to a national venture capital audience representing billions in private equity capital.

Presenting companies represent a variety of technology industries and range from earlier stage standouts to later stage companies having already raised tens of millions of dollars. These showcase companies represent the future of the region’s technology economy.

Presenting companies from Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and Washington DC are all represented at SEVC 2010.

In addition to showcasing some of the most promising high growth technology firms in the southeast and mid-atlantic regions, the Southeast Venture Conference will feature dozens of prominent speakers such as Wikipedia founder Jimmy Wales; Google’s Chief Internet Evangalist Vint Cerf, considered by most to be the chief developer of the Internet; and Mark Heesen, the President of the National Venture Capital Association.

The hundreds of attendees who converge at the annual SEVC, range from venture capitalists, high growth company executives, investment bankers and other private equity professionals to the support community that helps drive them.

The second round of 2010 SEVC presenting companies include:

• AvidXchange – Charlotte, NC; www.avidxchange.com
• avVenta – Mt. Pleasant, SC; www.avventa.com
• BestThinking – Cary, NC; www.bestthinking.com
• Blue Ocean Biomedical – Pembroke Pines, FL
• CallMiner – Fort Myers, Florida; www.callminer.com
• Columbia Power Technologies  – Charlottesville, VA; www.columbiapwr.com
• Creative Allies – Asheville, NC; www.creativeallies.com
• Deposco – Alpharetta, GA; www.deposco.com
• GetWellNetwork – Bethesda, MD; www.getwellnetwork.com
• HitFix – Washington, DC; www.hitfix.com
• LinkConnector – Cary, NC; www.linkconnector.com
• MiserWare – Blacksburg, Virginia; www.miserware.com
• Oversight Systems – Atlanta, GA; www.oversightsystems.com
• Parabon NanoLabs – Reston, VA; www.parabon.com
• Patient Point – Orlando, FL; www.patientpointkiosk.com
• RivalHealth – Raleigh, NC; www.rivalhealth.com
• Sestar Technologies – Gainesville, FL
• Skoodat – Chattanooga, TN; www.skoodat.com
• smartRealm – Leesburg, VA; www.smartrealm.com
• SoloHealth – Duluth, GA; www.solo-health.com
• Voices Heard Media – Knoxville, TN; www.voicesheardmedia.net
• X-Ray Robotics – Raleigh, NC

The first round of announced companies included:

• Acumatica – Bethesda, MD,  www.acumatica.com
• Advanced Liquid Logic – RTP, NC, www.liquid-logic.com
• Blue Nano – Charlotte, NC, www.bluenanoinc.com
• Box Tone – Columbia, MD, www.boxtone.com
• Braintech – Washington, DC, www.braintech.com
• Channel Intelligence – Celebration, FL, www.channelintelligence.com
• Computable Genomix– Memphis, TN, www.computablegenomix.com
• Corporate Events Group – Falls Church, VA, www.corpeventsgroup.com
• CURRENT Group – Germantown, MD, www.currentgroup.com
• Envisionier Medical Technologies -  Woodstock, GA, www.envisionier.com
• GeneEx – Hialeah, FL, www.geneexinc.com
• Halo Monitoring – Huntsville, AL, www.halomonitoring.com
• Heart Imaging Technologies – Durham, NC, www.heartit.com
• Imbera – Melbourne, FL, www.imbera.biz
• Kaulkin Information Systems – Rockville, MD, www.kistrack.com
• Microcell – Raleigh, NC, www.microcellcorp.com
• Overture Networks – Morrisville, NC, www.overturenetworks.com
• Semprius – Durham, NC, www.semprius.com
• Sharklet Technologies – Alachua, FL, www.sharklet.com
• SciVera – Charlottesville, VA,  www.scivera.com
• StudioNow – Nashville, TN, www.studionow.com
• Synapse Wireless – Huntsville, AL, www.synapse-wireless.com
• Twiigg – Reston, VA, www.twiigg.com
• Vocalocity – Atlanta, GA, www.vocalocity.com
• YadaHome – Washington, DC,  www.yadahome.com

Attendees can register by this Friday January 22^nd to save on early registration.

For additional information visit www.seventure.org.

FORT LAUDERDALE, FL – Cobham Life Support has acquired SafeLife Systems, a subscription-based satellite self test detection service from PROCON, Inc., based in Knoxville, TN.

The newly acquired service gives thousands of owners of 406 MHz personal locator beacons, emergency locator transmitters and emergency position indicating radio beacons the ability to send non-distress messages via text/e-mail to family and friends, letting them know that all is OK.

Financial details of the transaction were not disclosed.

Cobham manufactures satellite detectible emergency devices that can contact search and rescue forces in a matter of minutes and through onboard GPS can accurately pinpoint location up to 100 meters.

With this acqusition, “We can now provide a non-emergency, unique web-based solution that gives friends and family the peace of mind that comes with knowing the sender is OK,” said Joseph Mentz, general manager for Cobham Life Support’s ACR Products line.

Cobham founder was aviation pioneer

We find the history behind Cobham intriguing. Founder Sir Alan Cobham, who established the company as an air-to-air refueling specialist in 1934, could be a character out of an adventure movie.

Cobham had already established his reputation as an aviation pioneer, passionate about making the aircraft a mainstream means of transport, by the time he created the company.

He came to prominence flying possible commercial airline routes between the UK and India, Africa, and Australia during the 1920s.

During the 1930s, he introduced more than a million people to the experience of flight with his famous “Cobham’s Flying Circus” travelling air exhibitions.

Through a combination or organic growth and the acquisition of over 50 companies, the Group’s capabilities are now increasingly focused around safety and survival technologies.

Its products and services have played pivotal roles in world events from the Berlin Airlift to the US and European space programs, and relief efforts after Hurricane Katrina in 2005 and the Chinese Sichuan earthquake in 2008.

The company is headquartered in Fort Lauderdale, Florida and employs 200 at its manufacturing facility.

Online: www.cobham.com

FAIRFAX, VA – ManTech International Corporation (Nasdaq:MANT) has completed the acquisition of Sensor Technologies Inc. (STI) for $242 million in cash.

Headquartered in Red Bank, NJ and founded in 1991, STI sells mission-critical systems engineering and command, control, communications, computers, intelligence, surveillance and reconnaissance services and solutions to the Department of Defense.

ManTech expects that the acquisition will add about $450 million to its revenue and at least $31 million to its earnings before interest, taxes, depreciation and amortization (EBITDA) in fiscal year 2010.

Headquartered in Fairfax, Virginia with approximately 8,500 professionals, ManTech International Corporation is a leading provider of innovative technologies and solutions for mission-critical national security programs for the Intelligence Community; the departments of Defense, State, Homeland Security and Justice; and other U.S. federal government customers.

Online: www.mantech.com

VIENNA, VA & ANNAPOLIS, MD – Telecommunications Systems, which sells mission critical wireless communication technology, has closed on a $75 million growth round led by Silicon Valley Bank with M&T Bank also committing $35 million to the financing. We reported that the company had received $60 million of the financing Jan. 4.

We also reported that the raise supports Telecommunications Systems acquisition of Networks in Motion, which sells wireless navigation software for GPS-enabled phones.

TCS has been on a buying binge. It raised $114 million to purchase Sidereal Systems in December and paid around $25 million for LocationLogic in May.

The current financing comprises a $30 million term loan and a $35 million revolving line of credit. TeleCommunication Systems may also draw an additional $10 million in term financing at its option. The  portion of the term loan and the revolving line of credit not used in its recently completed acquisitions are both available to TSYS for working capital and other corporate needs.

Megan Scheffel, senior relationship manager for Silicon Valley Bank said in a statement, “It’s been gratifying to watch TeleCommunication Systems excel over the last several years. Today, we have the capability to offer a full range of services that allow us to help our clients as they grow both in the U.S. and globally, no matter how large they become.”

TCS customers include the government, the U.S. Armed Forces, state and local governments, carriers, and public safety clients.

Online: www.telecomsys.com

ATLANTA & SEVIERVILLE, TN – Elavon, a subsidiary of U.S. Bancorp (NYSE:USB) – has purchased the merchant processing portfolio of Citizens National Bank, a community bank headquartered in Sevierville, TN.

The companys says Citizens National Bank merchant customers will benefit from Elavon’s expanded merchant service offerings including debit and credit card processing, a comprehensive PCI Compliance Program, a choice of point-of-sale devices and software, advanced e-commerce products, electronic check services, and enhanced reporting.

We understand that Citizens National Bank, founded in 1973,  has been a technology leader as a community bank, offering not only traditional banking products, but also cell phone banking and cash management and investment services.

Online: www.elavon.com

ATLANTA – The Euclidean Technologies Fund I has raised $33.8 million toward a targeted $500 million offering of limited partnership interests, according to a regulatory filing.

Euclidean Technologies, a technology development and investment management firm, was “founded to explore the seemingly infinite universe of models that can be built around public companies’ published financial data,” we read on the company Web site.

The company goes on to say it hopes to deliver consistent long-term over-performance with a risk profile consistent with the markets in which it operates. The firm says it operates without the risks of leverage and with a structure that closely aligns firm and investor interests.

It does so through mathematical optimization theory and machine learning to identify meaningful patterns in company histories that are most likely to lead to market beating returns over a holding period of years.

Partner John Alberg, one of the principals named in the filing with the U.S. Securities and Exchange Commission that disclosed the raise, has published work on neural network technologies. A serial entrepreneur, he previously founded SaaS firm, Employease, which sold to ADP for $160 million.

Online: www.euclidean.com