Posts Tagged ‘EMC’

Remembering Dick Egan

Wednesday, September 2nd, 2009

by Rodney Brown

rodney_brownThe death of Richard Egan this past week has taken another driving force out of the Massachusetts innovation economy. And as a force is clearly the way that his colleague Christopher Anderson remembers him — a blunt, direct force that, when applied to both business and public policy, got things done.

Egan of course was one of the co-founders of Hopkinton-based storage and security technology giant EMC Corp., which marks its 30th anniversary as a corporation this week, a few days after Egan reportedly took his own life at the age of 73.

In the early 1990s, Egan became a board member of the Massachusetts High Technology Council, and worked with council president Anderson for nearly a decade, until he stepped down from his chairman’s role at EMC and was appointed ambassador to Ireland. Anderson recalled fondly some of his favorite memories of Egan. But he prefaced our conversation with a description of Egan, the man. (more…)

Finance Roundup: Gabrieli, EMC, Modiv Media, AS&E

Thursday, July 9th, 2009

In today’s Finance Roundup, Chris Gabrieli speaks out on investing and public policy, Data Domain caves in to EMC’s $2.1 billion offer, Modiv Media lands some funding for its wireless shopping devices, and AS&E continues on its path to X-ray screening success.

Venture capitalist Gabrieli made a run for governor in 2006. Though it was assumed he would not  run in 2010, Gabrieli had not necessarily said so. MHT reporter Galen Moore put him on the spot — and yes, he denied any plans to run. So there you have it, from the investor and (former?) politician’s mouth. The interview went on to discuss Gabrieli’s thoughts on the crossroads of government and innovation, the state’s competitiveness, and effectiveness of public education.

Persistence pays off for EMC’s stubborn pursuit of Data Domain, the company playing the disinterested lover for the last month while it let EMC and NetApp duke out a bidding war for its affection. If anything, DD wanted no part of EMC’s takeover, going so far as to recommend that shareholders reject the bid. In the end, loyalty to NetApp’s contract lost out and the big money of EMC’s $2.1 billion offer finally won over DD. Who says money can’t buy love?

Have you seen those devices in Stop & Shop grocery stores that allow you to play cashier and ring your products up wirelessly as you shop? Well, expect to see more of those. Modiv Media has pulled in $1.2 million of an expected $2.5 million financing round.

And in the defense/security world, AS&E continues to succeed in its niche of X-ray screening vans, especially popular with border control. The company just landed an $8.6 million follow-on order for Z Backscatter X-ray screening systems.

Finance Roundup: Krakoff leaves Sigma, EMC boosts Data Domain offer

Monday, July 6th, 2009
netsi070609

New England Tech Stock Index

VentureWire reports that Roger Krakoff has left Sigma Partners, and EMC blinks, in today’s Finance Roundup.

Report: Krakoff leaves Sigma to start new Boston VC firm

East Coast-based venture partner Roger Krakoff is leaving Sigma Partners to pursue his own IT-focused fund, according to a report (subscription may be required) posted last night on Dow Jones VentureWire.

• EMC boosts Data Domain offer to $2.1B

The new offer price comes after weeks of EMC (NYSE: EMC) stating to the board of directors and shareholders of California-based Data Domain that its all-cash offer was better than the $1.9 billion stock-and-cash proposal from NetApp Inc., which is also aiming to buy Data Domain.

Raytheon’s radiological detection pulls in $1.2M

Under the deal, the second phase of a five-phase, $2.9 millon contract, Raytheon (NYSE: RTN) will develop technology for a stand-off warning against radiological materials (SWARM).

Pro-Pharmaceuticals grabs $500K in tranche

Newton-based Pro-Pharmaceuticals Inc. has landed $500,000 of a $6 million round financed by 10X Fund LP.

From the print edition: Shaky biotech partnerships haunt disease foundations

Disease foundations that are taking an increasing role in capital formation for local biotechs are nervously watching as the stock market and private capital markets wreak havoc with the companies that may hold the key to their future cures.

Affiliate publications: ACBJ.com, Boston Business Journal, Bizjournals.com, Portfolio.com, Wired.com

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