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The CED selects two information technology companies to present at the STREAK Public Luncheon December 14th


The CED December 14, 2000 STREAK luncheon will showcase ViASIC and LiveWire Logic, Inc, two emerging information technology companies seeking venture capital. The quarterly luncheon is the capstone event of STREAK's monthly program, which assists early stage companies in developing business strategies. The luncheon provides a unique opportunity to see early stage deals and to network with regional investors and entrepreneurs.

ViASIC was founded by a team with both management experience and technical expertise, and has developed technology that reduces the non-recurring engineering costs required each time a company has to design and manufacture a new semiconductor chip. ViASIC reduces the cost of this process by a factor of 20, reduces the time to make such chips, and offers chip makers a technology that is scaleable and enables easy customization.

LiveWire Logic, Inc. was founded by a team with deep technical experience. LiveWire Logic's core products are conversational software agents that interact one-on-one with customers over the web using artificial intelligence technologies and aid Internet-based customer support, sales, and marketing. LiveWire Logic will provide its Customer Relationship Management (CRM) software to web-based companies that need to provide cost-effective personalized service to an increasing number of customers.

The two companies will present to a panel of venture capitalists. The investor panel will respond to the entrepreneurs with questions that will provide insight about what venture capitalists are looking for in investment opportunities. The panel will consist of Mike Carney, RedLeaf Group, Raleigh; Scott Albert, The Aurora Funds, Durham; and Bernie Gray, Gray Ventures, Atlanta, Georgia.

The Luncheon will take place from 12 p.m. to 1:30 p.m. on December 14, 2000. Due to record attendance at the last public luncheon, individuals must pre-register to guarantee seating. Registration will close at 5:00 p.m. on December 11. To register go to the secure application page at /programs/capital_connection/luncheon.htmls or call 919.549.7500 ext.114. Register soon!

The CED STREAK Luncheon is sponsored by Imperial Bank.

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CT Communications Acquires WebServe for $5.7 Million


LocalBusiness.com reported that regional telecommunications service provider CT Communications plans to acquire Charlotte-based WebServe for $5.7 million in cash. In addition to the initial valued purchase price, there is the potential for another $5 million cash payment in about a year if WebServe meets certain revenue targets. WebServe, which was ranked fourth in this year's Deloitte & Touche N.C. Fast 50 list, provides web development and hosting services for businesses in the Carolinas. CTC company officials said the acquisition, which is still subject to WebServe shareholder approval, is expected to close by the end of the year.

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Incara Gets Equity Financing Facility Up To $18.9 Million


RTP-based Incara Pharmaceuticals Corp.(Nasdaq: INCR) has entered into a definitive agreement with Torneaux Fund Ltd. of San Francisco, an institutional investor, for an equity financing facility covering the purchase of Incara's common stock over 15 months.

Incara will control the amount and timing of stock sold to Torneaux, with the amount of the investment being dependent, in part, on Incara's stock price. Assuming Incara's stock price maintains a minimum threshold, the total investment will fall between $3 million and $18.9 million.

The agreement includes warrants equal to 15 percent of the common stock shares purchased and is subject to a number of conditions. Incara will also file a registration statement with the Securities and Exchange Commission.

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MortgageRamp Gets $50 Million Second Round


According to venturewire.com, Charlotte-based MortgageRamp, an online commercial real-estate Web site, has raised $50 million in its second round of funding. A number of investors participated in MortgageRamp's second round, including America Mortgage Capital, Deutsche Bank, Allied Capital, Bank United, Compaq Computer, Fannie Mae, Moody's Investors Services, Standard and Poors, and VerticalNet participated in the round. The company said it will use the funds for technology and product development.

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CP&L Completes Acquisition of Florida Progress


Raleigh-based Carolina Power and Light has officially completed its acquisition of Florida Progress Corporation. Company officials at CP&L said they will announce a new name and brand for the combined company, along with a new NYSE ticker symbol, on December 4. The company will begin trading under the new ticker symbol on Monday, December 11, 2000. Until that date, the new company will trade under CP&L's current symbol, CPL. CP&L's CEO William Cavanaugh said the combination of CP&L and Florida Progress will help grow the value of the company.

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Xanthon Gets DNA/RNA Patent


Xanthon Inc. has received a patent that will help the company commercialize and manufacture the technology behind its DNA/RNA analysis instrument, according to reports in LocalBusiness.com,. Called the Xanthon Expression Analysis System, Xanthon's DNA/RNA tool will be sold starting next year to pharmaceutical companies that will use it to analyze DNA/RNA to discover targets for drugs. Xanthon, which is based in the RTP, plans to test its genetic analysis equipment at beta sites starting early next year. Company officials said the patent Xanthon just received from the U.S. Patent and Trademark Office describes the method of manufacturing the Expression Analysis System's technology.

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Arsenal Digital Solutions, Peak 10 Ink Three-Year Deal


Peak 10, a Charlotte-based infrastructure provider, has reached a three-year agreement with Durham-based Arsenal Digital Solutions. Under the terms of the agreement, Peak 10 will resell Arsenal Digital Solutions' data storage services to its clients. Peak 10 will charge its customers a flat fee per month for each gigabyte of data that its customers back up using Arsenal's services. The service offering includes daily incremental and weekly full backups, customer initiated restores, installation, implementation and operation, and off-site storage options.

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Fusion Ventures Partners With Sprintec


Durham-based incubator Fusion Ventures has inked a deal with Israeli incubator Sprintec, which provides accelerator services to Israeli-based telecommunications and Internet companies. Under the terms of the agreement, Fusion and Sprintec will provide acceleration services to Israeli companies planning to establish a presence in the United States. In its first international partnership, Fusion plans to offer contacts, experience, and advice about the industry to foreign companies. Fusion officials said the firm's goal is to ultimately build a national and international network of relationships with other incubators, corporations and universities.

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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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