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VisionAIR Secures $24 Million Series D Round


According to venturewire.com, wireless data firm VisionAIR has raised $24 million in its series D round of funding. Based in Castle Hayne, NC, the company is a designer and developer of wireless data applications for mobile workforces. Leading VisionAIR's infusion of capital was GE Equity. Additional investors included Charlotte-based Bank of America and Morrisville's Southeast Interactive Technology Funds. VisionAIR will use the new funds to expand its operations by targeting mobile workforces in the private sector, including industries such as maintenance/repair, delivery, construction, real estate and healthcare.

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Scynexis Reels in $15 Million


LocalBusiness.com reported that RTP-based Scynexis Chemistry & Automation Inc. has secured its first round of $15 million in combined debt and equity funding. Considered a drug discovery company, Scynexis is a privately held spin-off created by a team of researchers from Aventis CropScience, which is also based in the Triangle. The company, which launched earlier this month, uses an automated system to produce and evaluate potential drug compounds. The $15 million financing round will be used for the company's operations, equipment and facilities.

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B2Bmalls.com Lands $1 Million Second Round


B2Bmalls.com, an Internet marketing and database provider, has reeled in $1 million in financing from undisclosed individual investors as part of its second round of funding, venturewire.com reported. Having raised $5 million to date, the Burnsville, NC-based company said it is looking to bring in at least another $5 million by the end of the first quarter of 2001 before offering an IPO sometime next year. Company officials said B2Bmalls.com will use the money to expand into the international market.

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Cree Buys Division of California-based Spectrian


According to the News and Observer, Durham's Cree, which makes light-emitting diodes used in cellular phones, has purchased Spectrian's UltraRF division for about $113.5 million in cash and stock. With 140 employees based in Sunnyvale, CA, UltraRF makes power transistors that boost signals in wireless networks. Under the terms of the deal, Cree will exchange about 908,000 of its shares and $30 million in cash or additional stock for UltraRF. Officials said Cree's purchase should be completed by the end of December or early January.

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NCEITA Honors Companies at Annual Awards Ceremony


The North Carolina Electronics and Information Technologies Association (NCEITA) presented its annual NCEITA 21 Awards at a banquet in Raleigh Nov. 16. The prestigious awards are the oldest technology industry awards in the state. Below is a list of the winners and their respective categories:

  • Red Hat Inc.

    , Durham, software company of the year

  • Inspire Pharmaceuticals

    , Durham, health/pharmaceutical company of the year

  • Solectron Technology Inc.

    , Charlotte, electronics company of the year

  • Capitol Broadcasting

    , Raleigh, communications company of the year

  • Red Storm Entertainment

    , Research Triangle, consumer technology company of the year

  • Pinpoint.com Inc.

    , Research Triangle, early stage company of the year

  • Haht Commerce Inc.

    , Raleigh, mid-sized company of the year

  • RF Micro Devices

    , Greensboro, large company of the year and public company of the year

  • SciQuest.com

    , Research Triangle, top growth company of the year

  • Buildnet.Inc.

    , Research Triangle, top venture capital invested company of the year

  • Cronos Integrated Microsystems

    , private company of the year

  • Southeast Interactive Technology Funds

    , information technology support service award

  • North Carolina Networking Initiative

    , top government, not-for-profit technology

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TIBCO Extensibility Upgrades XML Technology


California-based TIBCO Software, which bought Chapel Hill's Extensibility this summer, has released a new version of its XML software. As part of the upgrade, the TIBCO Extensibility product line will feature XML technology needed to create e-business infrastructure. New additions to the software include XML schema support, enhanced graphical user interface, and color-coded source view - all of which are needed upgrades from earlier software editions.

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Raleigh's CFG Ventures Helps Create Japan Venture Partners


An affiliate of Raleigh's Carolina Financial Group, CFG Ventures, LLC, announced that it has formed Japan Venture Partners with two Tokyo-based international technology and investment banking professionals, Dan Thomas and Takeshi Itoh. Japan Venture Partners will partner with U.S. venture-stage technology companies - specifically businesses involved in network, communications, and e-business infrastructure. Japan Venture Partners will also place more weight on companies that want to enter the Japanese market with a high-growth operating strategy requiring experienced local managers. CFG Ventures, based in Raleigh, NC, will be assisting Japan Venture Partners with identifying U.S. technology companies seeking to enter and expand their operations in Japan.

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Relativity Inks $850,000 Deal with London-based Computer Sciences Corp.


According to LocalBusiness.com, RTP's Relativity Technologies has signed an $850,000 deal with London, England's Computer Sciences Corporation. Under the terms of the agreement, Computer Sciences will offer Relativity's RescueWare software and services to its major European clients. Relativity president Vivek Wadhwa was optimistic about the deal, adding that the agreement will be far-reaching. Wadhwa also said other similar deals with large companies are in the works. Relativity has developed software that aims to improve the maintenance of older computer systems.

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Events Update




December 7th — CED Info Session

December 7th — Executive Series

December 11th — Biotechnology Roundtable

December 13th — InfoTech Roundtalbe

December 14th — Streak Luncheon

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