UNICOM begins construction inWoonsocket
WOONSOCKET — UNICOM, one of Rhode Island’s fastest growing high-technology companies and among its largest, last week broke ground for a new 27,000 square foot headquarters building in Woonsocket. The company, now located in Providence, is building a 27,000 square foot building on 6.7 acres in the Highland Corporate Park. The building is expected to be completed in the fall, and will house some 225 employees. CB Richard Ellis is the general contractor.
Whale of an idea
KINGSTON – A University of Rhode Island professor has had a whale of an idea. James Miller, associate professor of ocean engineering, has developed a sonar imaging device that will serve as an aid to navigation for ships’ captains to help them find and steer clear of whales. In particular, Miller said, he’s concerned for the endangered northern right whales, with an estimated population of just 300. Northern right whales, Miller said, are found exclusively in the North Atlantic, where shipping traffic is heavy. His device is mounted on the hull of a ship, sending out high-frequency sonar signals that deliver real-time images of what is in front of the ship.
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Infinite Group wins program grant from SUNY
WARWICK – Infinite group announced that Lasar Fare ATG, a member of Infinite’s Laser and Photonics Group, has been awarded a $250,000 program from the State University of New York (SUNY) at Stony Brook in support of a recent award from the Defense Advanced Research Project Agency (ARPA) for thermally sprayed direct write sensors.
Distribution agreement for educational titles
MILFORD, CONN. – Advanced Corporate Networking and The LearningStation.Com have reached an exclusive agreement for the distribution of Learning Station’s “best-of-breed” educational titles to educators and trainers in Connecticut and Rhode Island. Advanced Corporate Networking is an Application Service Integrator offering Internet access and Intranet management services. LSC enables subscribing educators to rent a broad variety of educational software through the Internet with any Web-enabled PC.
Parlax announces follow-up public offering
METHUEN, Mass. – Parlex Corp. announced a follow-up public offering of 1,350,000 shares of its common stock at a price of $26.50 per share. In the offering, 1,250,000 shares were sold by Parlax Corporation and 100,000 shares were sold by certain shareholders. A copy of the prospectus relating to the offering may be obtained from the prospectus departments of Adams, Harkness & Hill, 60 State St., Boston, Mass. 02109 and Needham & Co. at 445 Park Ave., New York, NY 10022.
eBusiness Technologies announces alliance
PROVIDENCE, — eBusiness Technologies (Nasdaq: INSO), a provider of solutions and services for e-business applications, announced a technology alliance with BEA Systems, Inc., The E-Commerce Transactions Company(TM), and the integration of eBusiness Technologies’ “engenda” content management and workflow automation solution with BEA WebLogic Server(TM). This relationship provides customers with the best-of-breed Web content management solution combined with industry-leading BEA WebLogic Server to power the world’s most sophisticated e-commerce applications. “engenda’s” innovative centralized content management core maintains content, tracks versions, and provides an architecture that scales and integrates with other third-party applications.
Inso Corp. negotiating to sell IED
PROVIDENCE — Inso Corporation said it is negotiating to sell its Information Exchange Division to IntraNet Solutions, Inc. The parties have been informed by the Federal Trade Commission that their request for early termination of the waiting period under applicable antitrust rules has been granted.
Americans want retirement info over the Web
HARTFORD, Conn. – Americans are interested in expanding their Internet use to access their pension and 401 (k) plans, according to a study released last week by CIGNA Retirement & Investment Services. The national survey said that one-third of employees who have Internet access at home have access to their retirement information online, and 38 percent of those who have Internet access at home, but don’t have online access to///// their retirement information from their employer, say they would like to have it online. The survey also found that 38 percent of individuals ages 18 to 24 expressed the greatest interest in receiving Internet retirement information from their company, rather than through phone and paper-based methods, followed by 35 percent ages 35-49; 32 percent ages 25 to 34; 29 percent ages 50-64; and 28 percent over 65.
Stratos, Marvell Complete IPOs
New York (Bloomberg) — Stratos Lightwave Inc. and Marvell Technology Group Ltd. were among five companies completing initial public offerings Monday, the most in a single day in more than two months, as a slew of companies lined up for sales. Twenty IPOs were scheduled last week for U.S. and overseas companies, which is shaping up to be the busiest this year, according to CommScan LLC. Stratos raised $184 million in its sale, more than planned, and Marvell reaped $90 million, also more than expected. Underwriters, seizing on a 22 percent rise in the Nasdaq Composite index the past month, are trying to complete as many sales as possible before investors start taking their summer vacations. Last year, new issues dropped by a third in August from May, June and July’s averages.
{Compiled from news reports and releases, print and electronic.)
