Finance Roundup: Raytheon, DirectoryM, MTM

New England Tech Stock Index

In today’s Finance Roundup, Raytheon plans a fence in space, DirectoryM invests in its own self, and MTM takes itself private.

• Air Force ‘Space Fence’ nets $30M for Raytheon

The “fence” will use sensors and S-band radars to track small objects in low earth orbit for situational awareness in space. The first radar system is expected to be delivered in 2015.

• DirectoryM invests $2M in its online database

DirectoryM Inc.’s 12 founding employees have ponied up another $2 million to expand the online database centralization startup globally — after buying it out from its investors in March 2007 for $6 million.

• GreenRay lands $2M for affordable solar power

GreenRay develops solar AC modules with fewer parts and simplified installation as a means of lowering cost. The funding will be applied to the manufacturing, distribution and commercial launch of GreenRay’s solar AC module.

• MTM Technologies to delist stock, then go private

On the same day it announced it had regained compliance with Nasdaq rules to remain listed on the market, MTM Technologies Inc. yesterday said it would voluntarily pull its stock off the Nasdaq market and expects to de-register its stock completely, going private.

• KVH deal pulls in $2.5M for remote weapon systems

Under the subcontract deal, Middletown, R.I.-based KVH (Nasdaq: KVHI) will supply the unnamed defense contractor with its DSP-3100 fiber optic gyros. The gyros are used in remote weapon systems, which enable soldiers to fire weapons from inside a vehicle, rather than from an exposed turret position.

• Phase Forward buys Covance business unit

Phase Forward has paid $10 million in cash to buy the Interactive Voice & Web Response Services business of Princeton, N.J.-based drug developer Covance Inc. (NYSE: CVD). The deal includes a multiyear marketing agreement for the Waltham-based data management solutions provider for clinical trials and drug safety.

Posted by Brendan Lynch

Tags: Air Force, DirectoryM, GreenRay, KVH, MTM Technologies, Phase Forward, Raytheon, space fence

This entry was posted on Wednesday, July 15th, 2009 at 12:23 pm and is filed under Defense, Energy, Envirotech, Financial Services, Hardware, IT, Internet, Life Sciences, Massachusetts, Networks, Rhode Island, Software, Startups, Storage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.