Regional News

Don't miss our other news sources!

SnowFin Acquires iO Systems, Expands Operations Overseas
RTP-based SnowFin Corporation (www.snowfin.com), a privately held provider of outsourced IT services and solutions, has acquired iO Systems, also an RTP-based provider of outsourced IT solutions. In addition, SnowFin announced a partnership with UK-based Lamont Information Services Ltd to form SnowFin-UK.

By acquiring iO Systems, SnowFin will add new executive experience and deliver its remote management technology to iO Systems customers, company officials said. Using SnowFin's Extended Operation Center, customers receive help desk, software distribution, patch updates, security management, asset management, storage management and performance monitoring across their entire IT department.

[Top of page]

Buoy5 Acquires Clear Vision Group
Chapel Hill-based Buoy5, Inc. (www.buoy5.com), a provider of business process improvement software for managing requisition and approval processes, has acquired Clear Vision Group, a provider of business process management applications, implementation, consulting and support services. With the acquisition, Buoy5 will extend its global presence by establishing its new European headquarters in the Netherlands.

Under the terms of the agreement, Buoy5 acquired Clear Vision Group's business activities and assets. Additionally, Buoy5 acquired the distribution channel of Clear Vision Group, and will manage the PartnerFlow resellers program Clear Vision has been building which will become the Buoy5 PartnerFlow Program.

[Top of page]

BioMarck Lands $2.43 Million From Private Investors
Raleigh-based BioMarck Pharmaceuticals (www.biomarck.com), a spinout from N.C. State University, has raised $2.43 million from 46 private angel investors. BioMarck is developing an experimental drug that promises to control the mucus buildup and inflammation that accompany respiratory diseases such as asthma, chronic bronchitis and cystic fibrosis.

Company officials said they plan to use the money to fund ongoing studies and the beginning of clinical trials. BioMarck's technology is based on the unique “Marcks” peptide. Discovery of this peptide represents a novel therapeutic approach to various pulmonary diseases, because it directly inhibits mucus secretion by blocking a key step in the biochemical secretory pathway.

BioMarck Pharmaceuticals has been a CED member since 2002.

[Top of page]

Springboard Signs Deal with I-Silver
Springboard Managed Hosting (www.springboardhosting.com), a data center and Web hosting company, has signed a new contract with I-Silver (www.isilver-inc.com), a provider of technology solutions including Internet servers, anti-virus, content filtering and data backup. I-Silver has offices in Las Vegas and Charlotte.

The deal will provide Springboard with managed hosting services in a high availability environment. Between its two locations in Charlotte and Raleigh, Springboard now manages more than 220 customers.

Springboard Managed Hosting has been a CED member since 2001.

[Top of page]

Two Area Companies - ChemCodes, FutureMedia - Change Names
Durham-based ChemCodes Inc. (www.chemcodes.com) has changed its name to Nuada Pharmaceuticals Inc. The switch is part of a realignment of the company's mission to focus on small molecule compounds. Nuada has drug discovery programs under way in the areas of chronic obstructive pulmonary disease, diabetes and rheumatoid arthritis.

Chapel Hill-based FutureMedia has changed its name to Futura Creative (www.futuracreative.com). The change was initiated to better reflect the company's range of creative services. Futura Creative will continue to assist clients in a variety of industries with multimedia creation, advertising, graphic design, web design, public relations and marketing services.

Nuada Pharmaceuticals Inc. has been a CED member since 1998.
Futura Creative has been a CED member since 1996.

[Top of page]

SmartPath, E.piphany Ink Software Deal
RTP-based SmartPath Inc., a provider of marketing resource management (MRM) software applications, has signed a deal with E.piphany, Inc., a California-based provider of customer relationship management (CRM) software.

Under the terms of the agreement, E.piphany and SmartPath will jointly market and sell software that expands a range of MRM solutions. Officials said the software will be the first multi-channel marketing solution with full MRM capabilities.

SmartPath Inc. has been a CED member since 2002.

[Top of page]

18 NC-based Companies Make Fast 500 Rankings; 3 Named to “Rising Star” List
Deloitte's ninth annual Technology Fast 500 rankings (www.fast500.com) included 18 North Carolina-based companies - more than any other state in the South. The Fast 500 program recognizes the 500 fastest-growing technology companies in North America. As an accompaniment to the Fast 500, Deloitte also honors 25 “Rising Star” companies.

Three N.C. firms placed in the top 30 of the Technology Fast 500. Charlotte-based LendingTree, Inc., placed 18th on the list, while Art.com * and Peoplelick, both of Raleigh, placed 23rd and 30th, respectively. Other North Carolina companies on the 2003 Fast 500 list (with ranking in parenthesis):

  • Cary-based SpectraSite Communications, Inc. (106)
  • Raleigh-based Salix Pharmaceuticals Ltd. * (172)
  • RTP-based Paradigm Genetics, Inc. * (183)
  • Raleigh-based Red Hat, Inc. * (227)
  • Morrisville-based SciQuest, Inc. * (230)
  • Durham-based Inspire Pharmaceuticals * (252)
  • Raleigh-based TeleConsultants Oracle Partners (272)
  • RTP-based Raindrop Geomagic, Inc. * (303)
  • Fayetteville-based School Link, Inc. (325)
  • Charlotte-based Mariner (340)
  • Greensboro-based RF Micro Devices, Inc. (367)
  • Fayetteville-based Advanced Internet Technologies (375)
  • Burlington-based TriPath Imaging * (378)
  • Greensboro-based Open Software Solutions, Inc. (436)
  • Cary-based Ultimus * (474)

In the Southeast, only North Carolina-based companies ranked on the "Rising Star" list. They include RTP-based PharmaLinkFHI * (23), Durham-based Pinpoint Networks * (24), and Morrisville-based etrials Worldwide (25).

* NOTE: Companies with an asterisk (*) after their name are CED members.

[Top of page]

Events Update

October 22nd — CED Capital Connection Information Session
October 27th — CED's InfoTech 2003 Conference
November 5th — Success and Sagacity: A Spirited Conversation with Women Entrepreneurs
November 10th - 11th — Southeastern BIO Investor Conference 2003
November 13th — CED Information Session for Prospective Members
November 14th — CFO Roundtable
November 19th — CED Capital Connection Information Session
November 20th — Technology Forum - Outsourcing Strategies: Entrepreneurs Weigh Pros and Cons