WebLine to be bought by Cisco
BURLINGTON – WebLine Communications Corp. is being bought by Cisco Systems, Inc. for $325 million in stock, it has been reported. WebLine makes software to help companies manage their e-mail, develop their Web sites, and provide other communications services. Among its customers are Fidelity Investments and Lands’ End. WebLine was founded in 1996 by two MIT grad students. According to the announcement, WebLine, with 120 employees, will be merged into a Cisco software unit based in Lowell. Cisco’s headquarters are in San Jose, Calif.
Former Rep. J. P. Kennedy named board chairman
BOSTON – Former Congressman Joseph P. Kennedy has been named chairman of the board of directors of a new international digital communications provider, Sonic Telecom Ltd. Kennedy, who served 12 years in Congress, is said to be a co-founder of the company.
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Watertown firm gets contract in Trinidad
WATERTOWN – Ionics, Inc. reported it has obtained a $120 million contract to build, own and operate a desalinization plant in Trinidad. The project, the company reported, would be part of a joint venture with Hafaez Karamath Engineering Service Ltd. Ionics reported that desalinated water will start flowing in 12 to 14 months, on completion of the first of five phases of the project. The contract calls for Ionics to build a plant that can desalinate 28.8 million gallons of seawater a day at a cost of $2.67 per thousand gallons. The water is to be used in an industrial park containing oil and gas facilities. It would replace underground water sources now used that would then be available for public use, according to an Ionics spokesman.
Fleet recognized by Working Woman magazine
BOSTON – Fleet Financial Group has been cited by Working Woman magazine for its “Invest in People” program and has been placed for the first time among the magazine’s choices of the 100 best companies for working women to work. Among the attributes cited by the magazine are the flexible working arrangements, mentoring and training programs, access to day-care centers, financial support for adoptive parents, and help with elder care. About 42 percent of Fleet’s employees are reported to be women. Other Massachusetts companies cited by the magazine are Beth Israel Deaconess Medical Center, Lotus Development Corp. and Stride Rite Corp.
Raytheon awarded $43.5 million in contracts
LEXINGTON – Raytheon Co. announced that it had been awarded a $28.3 million contract through the U.S. Navy’s foreign sales program to produce and supply six continuous wave illuminators for the South Korean Navy. The Navy also awarded Raytheon a contact valued at $15.2 million for modification kits to upgrade the MK 48 torpedo inventory. Work on the latter contract is expected to be completed by February 2001. Completion of the first contract is scheduled by 2005.
HomeRuns adds .com to name
SOMERVILLE – HomeRuns grocery delivery business has changed its name to HomeRuns.com Inc. to emphasize its Internet connection. The company also said it is upgrading its Web site to make it easier for customers to place their food orders. HomeRuns.com, which was founded three years ago, is a wholly owned subsidiary of Hannaford Bros., Inc. of Maine, a growing regional supermarket chain.
Two western Massachusetts banks merge
SPRINGFIELD – The Bank of Western Massachusetts, based here, and the United Bank, based in Greenfield, have completed their merger forming a new 12-branch bank which will retain the Bank of Western Massachusetts name. The combined banks have assets reportedly totaling $550 million. Western Bank’s focus has been on business banking, and the link with United seems complementary since United’s focus has been on real estate and consumer lending.
Lycos will pay customers with active Web sites
WALTHAM – Lycos, Inc. announced it will offer its customers free Internet home pages on its tripod Web site if they can attract a certain number of visitors to their page each day. Lycos is trying to increase its Internet users to match up better with its competitors, specifically Yahoo, Inc., the number one Internet search service. Lycos is considered the third place server. Lycos sells advertising space on its Tripod home page which flashes on the screen every time a subscriber accesses the page. Lycos said it will pay Tripod home page owners 50 cents for each 1,000 ads displayed on their page.
Siemens forms new company for Mass.
BURLINGTON – Siemens, the German technology giant, announced that it had formed a new company here, Unisphere Solutions, Inc. to absorb the three start-up Massachusetts telecommunications gear makers which it acquired last March. The companies, Argon Networks, Inc. of Littleton; and Castle Networks, Inc. and Redstone Communications, Inc., both based in Westford, Mass. were acquired by Siemens for $1.05 billion to compete with Lucent Technologies, Northern Telecom and other giant international firms in Internet, voice, and high-speed data communications and systems. Unisphere now has about 600 employees. Siemens reports a worldwide sales staff of 26,000.
