Posts Tagged ‘Georgia’
Friday, January 25th, 2013
State and local governments waste billions of dollars annually on economic development subsidies given to companies for moving existing jobs from one state to another rather than focusing on creating truly new positions, according to a study released today by Good Jobs First, a non-profit, non-partisan research center based in Washington, DC.
“What was long ago dubbed a Second War Between the States is, unfortunately, raging again in many parts of the country,” said Greg LeRoy , executive director of Good Jobs First and principal author of the report.
“The result is a vast waste of taxpayer funds, paying for the geographic reshuffling of existing jobs. By pretending that these jobs are new, public officials and the recipient companies engage in what amounts to interstate job fraud.”
Interstate job piracy is not a fruitful strategy for economic growth, LeRoy noted: “The costs are high and the benefits low, given that a tiny number of companies get huge subsidies for moving a small number of jobs.” LeRoy added: “Moreover, the availability of relocation subsidies allows companies that have no intention of moving to extract payoffs to stay put.”
Interstate relocations have microscopic job effects
Summarizing studies demonstrating that interstate relocations have microscopic job effects, the report also reviews the history of economic competition among the states and presents eight case studies of those areas where job piracy is most pronounced.
The case studies cover metropolitan areas such as Kansas City, Charlotte, New York and Memphis, where companies get subsidized to move short distances across state borders; states such as Texas, Tennessee, Georgia, New Jersey and Rhode Island that are aggressive users of relocation subsidies; and states such as Illinois and Ohio, which have given big retention or “job blackmail” packages.
The report recommends that states stop subsidizing companies for relocating jobs from other states, noting that four-fifths of the states already refuse to pay for intrastate job relocations.
The report also recommends that states end their business recruitment activities that are explicitly designed to pirate existing jobs from other states. It also suggests a modest role for the federal government: reserving a small portion of its economic development aid for those states that amend their incentive codes to make existing jobs ineligible for subsidies.
The report, entitled The Job-Creation Shell Game, is available at www.goodjobsfirst.org/shellgame.
Monday, March 26th, 2012
The Technology Association of Georgia (TAG) today announced the Top 10 Innovative Technology Companies in Georgia.
These companies were singled out from the Top 40 Innovative Technology Companies announced earlier this month for showing the highest degree of innovation, the broadest scope and financial impact of their innovations and the greatest effect of such innovation in promoting Georgia’s technology industry throughout the U.S. and globally.
The 2012 Top 10 Innovative Companies are:
- · AirWatch, a leader in enterprise-grade mobile device management, mobile application management and mobile content management solutions designed to simplify mobility.
- · Brightwhistle, a first-in-class digital patient acquisition solution provider to hospitals and large physician practices.
- · First Data, a global leader in electronic commerce and payment processing.
- · Innovolt, a leader in comprehensive electronics power protection and management, is the first to bridge the gap between the power protection and asset service markets. The company’s technology allows equipment to last longer by keeping it safe from common power grid disturbances that negatively impact electronics performance and lifespan.
- · NexTraq, the value leader of GPS fleet tracking and vehicle management solutions.
- · Podponics, a company that converts used shipping containers into modular controlled-environment growth pods to enable the growth of fresh produce in urban centers.
- · Proximus Mobility is a location based proximity marketing software company, delivers relevant content to consumers’ mobile devices at the point of purchase, regardless of phone type and without an app.
- · Red Bag Solutions Inc., a company that offers patented technology and equipment for the on-site processing of regulated medical waste.
- · SalesLoft, is a sales technology company that helps B2B organizations speed up their revenue cycles and close more deals by automating sales research, ranking prospects on likeliness to buy, and generating new leads through data analytics.
- · Velocity Medical Solutions , a company that represents the next generation of intelligent radiation treatment tools through a vendor-neutral platform gives clinicians a fully integrated record of all diagnostic, planning and delivery data, regardless of origin.
“The Top 10 awards are given to an elite group of companies whose products and solutions are not only changing their respective industries, they are also putting Georgia on the map as a state where technology innovation can thrive,” said Tino Mantella, president & CEO of TAG.
Friday, December 23rd, 2011
Texting while driving in Utah could be costly.
So how do you feel about the National Transportation Safety Board’s recommendation for a national ban on talking or texting on a cell phone while driving? We know many tech execs, venture capitalists and entrepreneurs who are so attached to their smartphones – even while driving – they approach cyborg status.
But we have also seen way too many drivers weaving, traveling inappropriate speeds, cutting across lanes and running off the berm while trying to talk on a phone and drive. One study said that in terms of causing accidents, using a phone while driving ranked right up there with driving drunk.
Regardless of how you feel about the call for a national ban on cell phone use while driving, many states already have tough restrictions in place.
If you have an accident while texting and driving in Utah, for instance, it will cost you $10,000. Utah comes out on top ofInsuranceQuotes.com‘s list of the 10 toughest states for texting while driving.
InsuranceQuotes.com reviewed laws of the 35 states (along with the District of Columbia) that ban text messaging for all drivers. The review took into account fines and penalties for texting-while-driving offenders.
In Utah, the fine for texting while driving soars as high as $750, the second highest fine in the country. But it’s the rest of the state’s anti-texting law that earns Utah the distinction as the toughest state for texting.
If you get into an accident while texting and driving in Utah, you face serious jail time (up to 15 years) and up to a $10,000 fine. If there’s a fatality, you could be charged with a third-degree felony and face even more jail time and fines.
Here are the nine other states that make the InsuranceQuotes.com list of the toughest states for texting-while-driving offenders:
5. New York.
7. North Dakota.
To learn more about the 10 toughest states for texting while driving, see: www.insurancequotes.com/toughest_states-texting_while_driving.
Friday, September 16th, 2011
As T-Mobile USA, Inc. continues the rapid expansion of its 4G network, J.D. Power and Associates’ 2011 Wireless Network Quality Performance Study, Volume 2, shows that customers in the Northeast, Southeast and West regions are satisfied with an improved network experience, including call quality and messaging and data performance.
In its study, which compares network performance among the largest U.S. wireless carriers, J.D. Power and Associates recently announced that T-Mobile earned the second highest ranking in these three regions covering 32 states, tied in the Northeast.
T-Mobile ranked second out of four in both the Southeast and West regions, and tied in the Northeast. The Northeast region covers the seven states of Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. The Southeast region covers nine states: Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. The West region covers 16 states: Arizona, California, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming.
“T-Mobile’s ongoing commitment to making reliable connections available to more Americans continues to pay off as shown by the results of this J.D. Power study,” said Neville Ray, Chief Technology Officer for T-Mobile USA. “In the past six months, we have continued to advance the performance of our 4G service while also driving improvements in call quality, reliability and the overall experience for our customers.”
The J.D. Power and Associates 2011 Wireless Network Quality Performance Study measures consumers’ wireless network experience, based on 10 criteria that impact a carrier’s performance. Wireless phone subscribers surveyed were asked about their experiences with dropped calls, static/interference, connection on first try, immediate voice mail notification, message transmission failures and mobile Web and e-mail connection errors. Call quality and data performance were examined in six regions: Northeast, Mid-Atlantic, Southeast, North Central, Southwest and West.
Results of the 2011 Wireless Network Quality Performance StudySM, Volume 2, are based on more than 22,000 Internet survey interviews conducted between January 2011 and June 2011.
Tuesday, March 15th, 2011
ATLANTA – Georgia and Nevada tied for the top spot for the highest rate of entrepreneurial activity in 2010, according to a report by The Kauffman Foundation. Both came in at a .51 percent rank, meaning 510 people per 100,000 created businesses each month during the year in the two states.
We have noted in numerous stories that the Atlanta entrepreneurial ecosystem has ramped up noticeably over the last year, with startup focused groups and events popping up almost monthly.
Tennessee’s high .41 rank and Florida’s at .40, both first tier performances topping North Carolina’s .35, were a bit surprising, although Tennessee, like Georgia, has seen increasing private and public efforts to boost entrepreneurial activity.
In the Southeast, North Carolina weighed in at .35 percent, putting in the second highest tier of entrepreneurial activity. South Carolina posted .23 percent, Florida .40, Virginia and Maryland at .24, Tennessee at a high .41 and Kentucky at .29. See: Entrepreneurial Activity by State.
The Kauffman Foundation report, however, points out that “While the economy and its high unemployment rates may have pressed more individuals into business ownership, most of them are going it alone, rather than starting companies that employ others.”
Nationally, according to the “Kauffman Index of Entrepreneurial Activity,” a leading indicator of new business creation in the United States, 0.34 percent of American adults created a business per month in 2010, or 565,000 new businesses, a rate that remained consistent with 2009 and represents the highest level of entrepreneurship over the past decade and a half.
In contrast, however, the quarterly employer firm rate has dropped from 0.13 percent in 2007 to 0.10 percent in 2010.
Too many founders go it alone
“Since it began, the recession has triggered annual declines in the rate of employer enterprise births,” said Carl Schramm, president and CEO of the Kauffman Foundation.
“Far too many founders are choosing jobless entrepreneurship, preferring to remain self-employed or to avoid assuming the economic responsibility of hiring employees. This trend, if it continues, could have both short- and long-term impacts on economic growth and job creation.”
Capturing new business owners in their first month of significant business activity, the Kauffman Index of Entrepreneurial Activityprovides the earliest documentation of new-business development across the country.
The percentage of the adult, non-business-owner population that starts a business each month is measured using data from the monthly Current Population Survey (CPS), conducted by the U.S. Bureau of the Census and the Bureau of Labor Statistics.
In addition to this overall rate of entrepreneurial activity, the Kauffman Index presents separate estimates for specific demographic groups, states and select metropolitan statistical areas (MSAs). It provides the only national measure of business creation by specific demographic groups.
activity increase between 2009 and 2010. The Latino business-creation rate rose from 0.46 percent in 2009 to 0.56 percent in 2010, the highest rate over the 15 years of Index data. The Asian entrepreneurial activity rate increased from 0.31 percent in 2009 to 0.37 percent in 2010, also the highest rate in the past decade and a half. Both African-Americans and non-Latino whites, on the other hand, experienced declines in entrepreneurial activity rates.
Entrepreneurship growth was highest among 35- to 44-year-olds, rising from 0.35 in 2008 to 0.40 in 2009. The oldest age group in the study (55-64 years) also experienced a large increase in business-creation rates from 2008 to 2009, contributing to a two-year upward trend to 0.40.
Among states, Nevada and Georgia had the highest entrepreneurial activity rates, with 510 per 100,000 adults creating businesses each month. Rounding out the top five highest rates were California (470 per 100,000 adults), Louisiana (460 per 100,000 adults) and Colorado, with 450 businesses started per 100,000 adults.
The five states with the lowest rates of entrepreneurial activity were West Virginia (170 per 100,000 adults), Pennsylvania (180 per 100,000 adults), Wisconsin (180 per 100,000 adults), South Dakota (190 per 100,000 adults) and Indiana (190 per 100,000 adults).
“Regional patterns have a significant effect on entrepreneurial activity rates,” said Robert W. Fairlie, the studys author and director of the masters program in applied economics and finance at the University of California, Santa Cruz. “From 2009 to 2010, entrepreneurial activity rates increased in the West, further widening the gap between the West and other regions. Rates in the South remained steady, but declined in the Northeast and Midwest.”
Other key findings for 2010 include:
- The immigrant rate of entrepreneurial activity increased substantially – from 0.51 percent in 2009 to 0.62 percent in 2010 – and declined slightly for the native-born. This increase expanded the large positive gap that already existed between immigrant and native-born entrepreneurial activity rates.
- A growing immigrant population and rising entrepreneurship rate contributed to a rise in the share of new entrepreneurs that are immigrant, from 13.4 percent in 1996 to 29.5 percent in 2010.
- Entrepreneurial activity increased slightly for men and decreased slightly for women. For men, the entrepreneurial activity rate increased from 0.43 percent in 2009 to 0.44 percent in 2010. The female entrepreneurship rate decreased from 0.25 percent to 0.24 percent.
- The African-American entrepreneurial activity rate decreased from 0.27 percent in 2009 to 0.24 percent in 2010. The white entrepreneurial activity rate decreased from 0.33 percent to 0.31 percent.
- The entrepreneurship index was highest among the least-educated group, moving from 0.49 percent in 2009 to 0.59 percent in 2010, suggesting an increased number of people entering entrepreneurship out of necessity. The largest decrease in entrepreneurial activity occurred for high school graduates.
- Among the United States fifteen largest metropolitan statistical areas, Los Angeles had the highest entrepreneurial rate (0.62 percent) in 2010. Philadelphia had the lowest rate (0.15 percent)
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Monday, March 14th, 2011
ATLANTA - Identity Forge, which sells l-time, bi-directional password and identity synchronization software, has raised $1 million in equity from eight investors, according to a regulatory filing.
The company sells identity & access management software for mainframe, midrange and legacy systems.
Its software provides, real-time, bi-directional password and identity synchronization allowing for native based secure communication between mainframe, midrange and legacy systems with identity management infrastructures, web services or enterprise applications.
Founder and chief technology officer Chad Cromwell has 12 years experience in identity management and mainframe systems.
Founded in 2001, the company says its solutions and services are used worldwide by enterprises, government agencies and service providers.
Identity Forge disclosed the raise in a filing with the US Securities and Exchange Commission.
Connect with the digital elite at TechMedia’s next Atlanta event, the Digital Summit at Cobb Galeria May 16-17.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Thursday, March 10th, 2011
ATLANTA, GA & DURHAM, NC – Only two Southeast firms landed on the Wall Street Journal’s “The Next Big Thing 2011″ list of the “The top 50 venture-funded companies. Durham, NC-based appia Inc., the mobile app store company headed by Jud Bowman, is number 15 on the list. Georga-based Suniva, which makes solar cells with improved peformance over conventional types, is number 38.
Thirty-five of the companies are based in California. At TechMedia’s recent Southeast Venture Conference in Atlanta March 2-3, Mark Heesen, president of the National Venture Capital Association, said during a panel discussion that California may become even more dominant than it is already in the venture ecosystem.
Introducing the list, the WSJ wrote, “Venture capitalists are betting that the next Google Inc. or Facebook Inc. will have a name like Xactly, Chegg or Zoosk. In what may be a sign of a re-inflating Web bubble, The Wall Street Journal’s second annual ranking of 50 venture-capital-backed companies shows investors are chasing after Internet firms, many with a consumer focus.”
It notes that even firms without particular tech focus, healthcare and business services companies, for instance, are incorporating social networking or mobile technology into their businesses. Mobile communications, health care and business software firms make up the bulk of the list.
To qualify for the list, which was compiled by VentureSource, a unit of WSJ’s parent company, News Corp., a company had to have nabbed venture funding in the last three years and have a valuation of less than $1 billion. Those criteria place a focus on less well known companies and eliminate firms such as Facebook, Groupon and Twitter.
While we have no argument with including appia and Suniva on the list, we can think of a number of Southeast firms we would include instead of some the WSJ chose. What do you think?
See: Durham’s PocketGear reboots as Appia
Suniva to invest $15M, may raise $75M
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Friday, January 21st, 2011
WASHINTGON, DC – Venture capitalists invested $21.8 billion in 3,277 deals in 2010, an increase of 19 percent in dollars and a 12 percent rise in deals over the prior year, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association (NVCA), based on data from Thomson Reuters.
Mark Heesen, President, NVCA
The rise in venture investments in 2010 represents the first time the annual investment level has increased since 2007. Investments in the fourth quarter of 2010 totaled $5 billion in 765 deals, a 2 percent increase in dollars but a 3 percent decrease in deals from the third quarter of 2010 when $4.9 billion went into 789 deals.
In the Southeast, North Carolina saw VC investing return to pre-recession levels with 57 deals worth more than $456 million, although deals fell precipitously in Q4. Email marketing company iContact had the largest NC deal of the year, raising nearly $40 million.
In Georgia, VCs invested $333 million in 63 deals. Georgia actually saw a spike in Q4 with investments of $100 million in 12 deals, even as many other states saw severe dips in the year’s final quarter.
Double-digit increases in investments in 2010 were spread across almost every industry, including the Clean Technology and Internet-Specific sectors. Investment dollars also increased across every stage of development category, with the exception of a 2 percent decrease in Seed stage investments.
First-time financings rose in 2010 compared to the prior year, however, fourth quarter investing did show a decline in both first-time dollars and deals when compared to Q3 2010.
“The venture capital community found itself in a better position at the end of 2010,” said Mark Heesen, president of the NVCA. “We were clearly in recovery mode with investment levels reflecting the economic reality of our business. Increased investment across a diverse range of sectors highlighted those areas where the greatest opportunities lie, particularly within the Internet, software and clean technology industries.”
He added, “Continued fundraising and exit market challenges have greatly reduced the probability of investment bubbles in specific sectors as there simply is not enough capital to overinflate any particular market. The year’s increase in first time deals and early stage investment is encouraging as this trend suggests that the venture community is doing more with less. We hope this continues in 2011.”
“As expected, we saw the venture capital investment level in 2010 surpass that of 2009,” noted Tracy T. Lefteroff, global managing partner of the venture capital practice at PricewaterhouseCoopers. “And, there were nearly 30 percent more new companies receiving venture capital for the first time in 2010 than in 2009. This bodes well for 2011 as venture capitalists continue to support these new investments as they grow and expand their businesses.”
Expansion and later stage companies raised the most money in Q4 while those landing early stage seed funding dropped 21 percent.
Software companies landed the most funding at $1.2 billion, followed by industrial and energy startups which raised $853 million. Biotechnology firms were third, raising $684.9 million.
Clean tech jumped 74 percent in 2010 with deals worth $765.5 million. The sector has been hot since 2009 except for the third quarter of 2010, when deal flow fell.
MoneyTree Report results, including full regional breakdowns, are available online at www.pwcmoneytree.com and www.nvca.org.
Friday, December 17th, 2010
ATLANTA – Digital Assent, Solo Health and Women In Technology were among the big winners in the 2010 TechAmerica Georgia “Spirit of Endeavor” awards.
Some 200 of the state’s technology luminaries attended the eighth annual event which saw a record number of nominations for the awards that recognize the critical components of creativity and execution of ideas that the technology industry thrives upon. Open to both TechAmerica members and non-members, the awards honor companies and individuals for their significant accomplishments in the technology industry.
Digital Assent won the “Cool Technology” category, which was determined by onsite text voting and presented during the awards ceremony. The award goes to a company judged as have a “cutting edge, hip new idea.” The finalists in the “Cool Technology” category were: IHG, Jigsaw Meeting, Nanolumens and Toomah.
Top honors in the “Emerging Business” – which recognizes the achievements of a young company – went to Solo Health. The finalists included: Co-Thrive, erollver, and Fiberlight.
Women in Technology finished first in the “Leadership In Technology,” which is presented to a company for its leadership in fostering technology education. The finalists were: Apogee, StarPound Technologies, and TechExec Networks.
Richard Cope, CEO of Nanolumens received the “Technology Entrepreneur” award, presented to an individual who has demonstrated leadership in bringing technology to market. The finalists were: Norm Geddes, CEO, Applied Systems Intelligence, and Greg McGraw, President and CEO, CRE Secure.
The winner of the “Outstanding Leadership” award was Paul Harnacki, CTO of Definition 6. The award goes to the individual who has demonstrated significant leadership in the technology community. Finalists included: Albert Woodard, CEO, Business Computer Applications; Tim Aligheri, CTO, Jackson Healthcare; and Bill Nussey, CEO, SilverPop.
Norm Geddes, CEO, Applied Systems Intelligence, garnered top honors in the “Technology Innovation,” category which recognizes an individual for the development of breakthrough technology. The finalists were Susan Gilbert, CEO, Apogee; Rob Renner, CEO, Liaison; Richard Cope, CEO, Nanolumens; and Jason Shapiro, CEO, Transaction Tree.
Monday, November 8th, 2010
ATLANTA – Manned space exploration may be on a back burner right now, but NASA is obviously still looking at how to protect astronauts from exposure to space radiation and other hazards of space travel. Researchers from Emory University’s Winship Cancer Institute and the Medical College of Georgia are launching a new cancer research initiative – literally.
The National Aeronautics and Space Administration (NASA) has awarded a team of investigators from both institutions $7.6 million over five years to study how a component of space radiation may induce lung cancer.
The award establishes a NASA Specialized Center of Research (NSCOR), consisting of a team of scientists with complementary skills who work closely together to solve a set of research questions. Ya Wang, PhD, professor of radiation oncology at Emory University School of Medicine and Winship Cancer Institute, is director of the NSCOR at Emory.
Interplanetary space travel could expose astronauts to conditions where they are chronically exposed to types of radiation not normally encountered on earth. One of these is high energy charged particles (HZE), which results in complex damage to DNA and a broader stress response by the affected cells and tissues.
There is no epidemiological data for human exposure to HZE particles, although some estimates have been made studying uranium miners and Japanese atomic bomb survivors, says Wang.
Animal experiments show that HZE particle exposure induces more tumors than other forms of radiation such as X-rays or gamma rays. Because it is a leading form of cancer, lung cancer can be expected to be prominent among increased risks from radiation even though astronauts do not smoke. However, the risk for astronauts remains unclear because the dose of HZE astronauts are expected to receive is very low, Wang says.
The Emory-MCG researchers will probe whether the broader stress response induced by HZE particles amplifies cancer risk. Investigators will collaborate with physicists at Brookhaven National Laboratory to gather information on HZE’s effects. Individual projects include the study of how cells repair DNA damage induced by HZE particles, how HZE particles generate oxidative stress, and how they trigger regulatory changes in DNA known as methylation.
Friday, October 15th, 2010
ATLANTA – Alimera Sciences Inc. (Nasdaq:ALIM) has obtained a $32.5 million senior secured credit facility to help fund its working capital requirements. The credit facility consists of a $20 million revolving line of credit provided by Silicon Valley Bank and a$12.5 million term loan provided by MidCap Financial, LLC and Silicon Valley Bank.
The lenders have advanced $6.25 million under the term loan and may advance the remaining $6.25 million following FDA approval of Iluvien, but no later than July 31, 2011. The revolving line of credit may be drawn by Alimera against accounts receivable subsequent to the launch of Iluvien, which is being developed for treatment of diabetic macular edema.
Alimera based in Alpharetta, Georgia, is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Presently, the Company is focused on diseases affecting the back of the eye, or retina.
Thursday, September 23rd, 2010
ATLANTA – Trustpoint International has raised $1 million in equity from 15 investors, according to a regulatory filing.
The company, which does not have a web site at this time, shares an address and two principals with Atlanta-based LateralAttorneys.com, a site that recruits and places attorneys and paralegals.
Paul M. Talmadge, Jr. president of the Partners Group, which is responsible for LateralAttorney’s national operations, and Mark Hawn, chair of the Partners Group, are also named as principals in the Trustpoint raise in the filing with the US Securities and Exchange Commission disclosing the financing.
Other principals named in the filing are Rick Avers, listed as an executive officer, and Marec Zamsky, a director.
In addition to LateralAttorneys.com, The Partners Group assists law firms with mergers and acquisitions.
Tuesday, September 21st, 2010
ATLANTA - Venture Atlanta has named the companies selected to present at its conference on October 12-13, 2010 at the Georgia Aquarium in downtown Atlanta. The 20 companies selected to present cover a wide variety of industries including Internet and enterprise software, healthcare IT, clean tech, wireless, e-payments, and even electric vehicles.
Ashish Mistry, Venture Atlanta board member and managing partner at BLH Venture Partners, said, “This year’s presenting companies underscore our State’s diversity in high-growth sectors in addition to our depth in management talent.”
In addition to the 20 presenting companies announced, an additional 25 companies will be invited to participate in Venture Atlanta’s early-stage showcase, being held on Tuesday October 12, 2010. The early-stage showcase offers a unique, one-on-one opportunity for investors to interact with 25 additional entrepreneurs and seed-stage companies prior to Venture Atlanta’s main event.
For more information see: Venture Atlanta
The companies selected to present at the 2010 conference are:
Smartsoft Mobile Solutions
The Rubicon Group
Wavee US LLC
Tuesday, September 14th, 2010
ATLANTA –Atlanta’s MedAssets Inc. (NASDAQ: MDAS) agreed to acquire The Broadlane Group for $850 million.
Based in Dallas, Texas, The Broadlane Group is a leading provider of supply chain management, strategic sourcing of supplies and services, capital equipment lifecycle management, medical device or PPI cost management, centralized procurement, clinical and lean process consulting, and clinical workforce optimization.
Patrick Ryan, chairman and CEO of The Broadlane Group, is expected to join the MedAssets board and assume the role of president of the company’s Spend Management segment upon completion of the transaction. “This transaction offers an exceptional opportunity to bring together two very strong enterprises and deliver end-to-end cost management capabilities.
Under the terms of the agreement, MedAssets will purchase The Broadlane Group for approximately $850 million in cash, with $725 million to be paid at closing and $125 million to be paid in January 2012. To fund the transaction, MedAssets has obtained financing commitments from J.P. Morgan and Barclays Capital.
MedAssets partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 40,000 non-acute healthcare providers.
Monday, September 13th, 2010
ATLANTA – Company.com, a firm providing information and lead generation services, has raised $3.4 million of $4.9 million in equity, accordng to a regulatory filing.
Investors include Blue Water Capital of McLean, VA and FTV Captial, San Francisco.
The company CEO and chair, Wiulliam Wade, founded the firm in 2008.
The company provides an online portal for small and medium-sized businesses, with guides to professional services, answers to questions, a marketplace, how-to articles, savings deals, and advice from experts.
Friday, September 10th, 2010
AUGUSTA, GA - REACH Call Inc. has named Ken Rardin president and chief executive officer.
Rardin is a seasoned executive who has led several software and services companies, four of which were public. He brings more than 30 years of global executive management experience in starting, growing and expanding innovative technology and service companies.
“Ken is the perfect leader for REACH Call,” said David Hess, MD, chairman of the REACH Call Board. “His extensive management background and vision for the company’s potential complement REACH Call’s efforts to advance its leadership position in telemedicine.”
“The REACH Call team has done an amazing job of establishing REACH as a real innovator in telemedicine,” Rardin said. “With its strong value proposition, profitable business model, and high-caliber employees, REACH has all the core elements to become a global leader in telemedicine. I have been running healthcare technology companies for over 20 years and REACH is one of only a few companies that really improve the quality of patient care while at the same time significantly reducing the cost of delivering quality patient care.”
Rardin has served as president & CEO of IMNET Systems Inc. (NASDAQ:IMNT), a global electronic medical records company which was purchased by McKesson for $270M, Merge Healthcare (NASDAQ:MRGE), one of the world’s largest Radiology and PACS companies, Software AG International (NASDAQ:SAGI), which is a $1billion global database and information systems company, and GMD International, which was sold to a UK public company. He has extensive experience in M&A, IPO’s, finance, sales, marketing, product development, and global operations.
Thursday, September 9th, 2010
By Allan Maurer
ATLANTA – Clearleap, which sells an Internet protocol-based video content management and distribution system to the IPTV industry, has raised $500,000 from four investors, according to a filing with the U.S. Securities and Exchange Commission.
The company raised a $9 million A round from Noro-Moseley Partners and Trinity Ventures in March 2008 and Alan Taetle of Noro-Moseley and Fred Wang of Trinity, both board members, are listed as principals in the SEC filing for this raise.
We talked with CEO Robert Braxton Jarratt on a visit to Atlanta earlier this year and wrote about it for our companion publication, TechView Atlanta.
Here’s our report, published in TechView in May.
Sitting on top of the world
You feel like you’re on top of the world. When we visited Clearleap in the Tech Square Research Building in downtown Atlanta, CEO Braxton Jarratt and marketing manager Laney Woolfolk took to the roof of the building that is home to Atlanta Technology Development Center companies. We enjoyed a sunny spring view of the city spread before us, much as Clearleap sees the future of video spread before it.
Clearleap has a bright vision of a world with converged video and broadband Internet. Its technology expands the capabilities of traditional TV delivered by existing service providers, bringing the depth and variety of Internet video to home screens.
Clearleap CEO Braxton Jarratt and Laney Woolfolk marketing manager on the roof of the Tech Square Research Building in Atlanta.
Clearleap’s technology allows those providers, such as cable companies, to offer the enhanced services without replacing existing set-top boxes, something they are reluctant to do. “That is a big issue with cable providers. They don’t want to replace all those boxes,” says CEO Braxton Jarratt.
The company sells a platform that sits in the cloud, managed from three data centers around the country. A small appliance sits on a client’s network and allows the provider to offer tens of thousands of additional video choices to subscribers.
That includes net video not usually available on TV, personalized video choices so every viewer in a home can watch what they want, local video programs, special sporting event broadcasts and more.
Leap over legacy systems with a single bound
That’s particularly important to younger viewers who are used to having a wide and increasing variety of video choice on their PCs. We know a handful of people who have just dropped their cable TV service and now rely on Hulu.com, AOL TV, YouTube, Atom, and the host of other video sources available on broadband Internet. Cable companies and other service providers not only want to attract new customers with enhanced services, they want to hold on to their existing ones, Jarrett says.
The view from the roof of the Tech Square Research Building in Atlanta is impressive, but Clearleap has an equally sharp view of broadband and television convergence.
“As our customers (service providers and others) migrate to next generation boxes and IP connected TVs, our platform allows them to connect directly to those,” Jarratt adds.
He says Clearleap’s “special sauce as a company” is its ability to leap over legacy systems with a single bound. Well, it can peacefully co-exist with them, anyway. “That’s hard to do and the ability to just plug into them is rare,” but Clearleap can do it, he says.
“That means we can offer our services to the widest range of customers. You just plug it in and it works. We have customers who will tell you, we came in one day and the next day they had a large variety of new content for their consumers. That’s unheard of in this industry.”
Founded by industry veterans
Clearleap was co-founded by Jarratt and John Vecchio, veterans of venture funded N2Broadband, a video pioneer acquired by Tandberg for $120 Million in 2005. Both held executive positions at Tandberg Television (an Ericsson company). Jarratt held senior positions at Cox Enterprises and Vecchio at Scientific Atlanta (now a part of Cisco).
Previously, Jarratt worked at Cox as director of Product Strategy for the cable division and GM in the interactive media division, where he launched the first broadband internet content service in partnership with @Home. Braxton’s first tech startup experience was as the head of commercial services with Primenet, an internet startup purchased by GlobalCenter.
A graph showing how the Clearleap technology works.
With Turner Broadcasting, Scientific Atlanta, and other video technology companies thriving in Atlanta, the city is becoming known as a hub for the industry.
Clearleap’s founders know the industry well, and Jarratt admits, with video convergence rushing upon us, Clearleap is in the catbird seat.
The company raised a $9 million first round led by Trinity Ventures of Menlo Park, CA, and Noro-Mosely Partners of Atlanta. “We were Trinity’s first Atlanta investment,” Jarratt says as we survey the city spread before us from the roof overlooking downtown. “They don’t normally invest in young companies outside their geographic area.”
The company took $3 million in debt funding from Silicon Valley Bank in October 2008.
“The Clearleap team has great respect in its industry and is poised to make a significant impact on the future of television,” said Dale Kirkland of Silicon Valley Bank’s Atlanta office at the time of the funding.
Jarratt says the company’s goal with its first round funding was to land major customers and develop recurring revenue and it met both goals. “We have about half the top ten cable and IPTV operators as clients,” he notes. Those include Comcast and CBS.
To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.
© 2010, TechView Atlanta. All rights reserved.
Monday, August 30th, 2010
ATLANTA — 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.