Company and tech news from the region.
Core Technology sold to Baltimore company
Prometric, a Baltimore computer-based testing company, acquired Stone Mountain-based Core Technology Group Inc. as part of a strategy to expand its automated driver testing business in the United States.
Terms of the deal were not disclosed. CTGI counts motor vehicle department customers in New Jersey, Virginia and Washington, D.C. and has been in the market since 1987. Prometric’s technology uses interactive video to assess how well drivers anticipate and react to roadway hazards.
Wave7 Optics gets $15 million in funding
Alpharetta-based Wave7 Optics closed on an additional $15 million to their Series C funding round, bringing the investment to date in the C round to $30.5 million. The funding comes exclusively from the company’s six current investors: Advanced Technology Partners, Armada Venture Partners, Lucent Venture Partners, Mellon Ventures, Morgenthaler Ventures, and Oak Investment Partners. Wave7 Optics pioneered the first intelligent passive optical network system
SecureWorks buys Texas competitor
Atlanta Internet security services firm SecureWorks has completed its first acquisition with the purchase of a Texas competitor called TesserEye.
Terms of the acquisition were not disclosed. TesserEye, based in Austin, Texas, provides network monitoring and security for small- and medium-sized businesses. Many of TesserEye’s customers are financial institutions and small independent banks, and the company had gotten an endorsement from the Independent Bankers Association of Texas (IBAT), which SecureWorks will now assume. SecureWorks has 75 employees and recently added new board members Tom McNeight (CEO of local firm GuardedNet) and GE Capital Vice President Patrick Kocsi.
CDC Software to acquire Ross Systems
CDC Software Holdings Inc., a subsidiary of Chinadotcom Corp., will buy Atlanta-based Ross Systems Inc. for $68.9 million. The transaction is expected to close no later than the first quarter of 2004. Stockholders of Ross Systems (Nasdaq: ROSS) will receive $5 in cash and $14 worth of Chinadotcom common shares for each share of Ross Systems common stock. Ross Systems is a global provider of enterprise software for manufacturers.
Invistics Corp. gets $2.5 million in funding
Invistics Corp., formerly SAK Logistics, closed on $2.5 million in first-round institutional funding. H.I.G. Ventures and North Carolina-based Intersouth Partners led the Series A round with the participation of Imlay Investments and Atlanta Technology Angels. Atlanta-based Invistics provides software for manufacturers to shorten cycle times, meet customer deadlines and ship more products.
Symbiat Inc. names new CEO
Symbiat Inc. has promoted Deborah Bailey to CEO from her prior position as acting CEO. Bailey will retain her seat on the board of directors. A CPA, she specializes in business turn-around opportunities for rapidly growing financial services and technology companies. She brings more than 23 years of operations management, strategic development and financial experience to her position at Atlanta-based Symbiat (Pink Sheets: SYBA). Symbiat provides technology support and service.
Abraxis updates SpamChallenger
Abraxis Networks, Inc, in Norcross, Georgia, recently announced the production release of their new SpamChallenger junk-email elimination system. The second-generation SpamChallenger system is specifically designed to solve the problem of spam for corporations and small businesses. SpamChallenger includes features to handle all the different tricks and methods Abraxis has seen spammers use to send large quantities of unsolicited and unwanted e-mails.
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