Raytheon wins $1.4 billion subcontract
LEXINGTON – Raytheon Co. announced that it had won a $1.4 billion subcontract from Lockheed Martin Corp. of Bethesda, Md., to design and build radar equipment. The subcontract falls within Lockheed Martin’s contract with the Army to produce a battlefield defense system called theater High Altitude Area defense System.
Informix to leave California for Westboro
WESTBORO – One day after announcing that it would limit its operations to an expanded presence in Massachusetts, including the recently developed office of its president here in Westboro, while retaining its headquarters in Menlo Park, Calif., the Informix Corp. has announced that it would close its California headquarters offices and move here, the Boston Globe reported. The company, whose stock has plunged from $35 a share four years ago to less than $5 a share will dismiss 430 workers in northern California, the company announced. To accomplish this the company announced it would take a $75 million to $90 million one-time charge to cover the cost of severance pay and the elimination of redundant facilities and functions. The company’s new president, Peter Gyenes, a former chief executive and president of Ardent based here, was reported to be the key in Informix’s acquisition of Ardent Software, Inc. in March for $1.1 billion. Gyenes succeeded Jean Yves Dexmier after that purchase. Dexmier had been in office for only a year. Gyenes said the company would hire about 100 people in Westboro over the next year. He said about two dozen employees in California would be asked to relocate to Westboro. Informix plans to merge five businesses and consolidate them into two groups to streamline operations, the Boston Globe reported. Informix also plans to move about 40 people employed at a sales and service office in Burlington, Mass., to join 200 Ardent employees in Westboro. The company has about 4,000 employees throughout the world.
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Sapient agrees to buy Human Code
CAMBRIDGE – Sapient Corp. has agreed to buy Human Code, Inc., a developer of broadband applications in Texas for $104 million. The purchase is intended to improve Sapient’s ability to add streaming videos and other Web site features that will become more useful as more customers get broadband connections. The company told the Boston Globe that it expected to complete the transaction by the end of August.
Boston Scientific eyes stent maker
NATICK – Boston Scientific, Corp., has reportedly begun talks with Medino Ltd., its largest supplier – to acquire that Israel-based company. Medinol is a five-year-old privately held company based in Tel Aviv that supplies Boston Scientific with the NIR line, its top-of-the-line cardiovascular stents.
Cambridge SoundWorks expanding
CAMBRIDGE – Cambridge SoundWorks told the Boston Globe that it planned to step up its pace of expansion beginning with the next 12 months when it expects to open up to eight more stores. Next year the company plans to expand beyond its current New England land Northern California limits.
Ezenia to sell systems to Telco
BURLINGTON – Ezeria, based here, announced that it had sold its network access card division to Telco Systems for $4 million in order to focus on Internet protocol and Web-based videoconferencing services expected to be released this year.
Australians to buy DSL routers from Interspeed
NORTH ANDOVER – Interspeed, Inc. of this community has won a $100 million contract to provide digital subscriber line access routers to the Intelligent Public Network based in Melbourne, Australia, the company announced. IPN had previously bought Interspeed equipment for broadband network access and voice calling in three Australian cities, and now plans to buy more Interspeed equipment for a nationwide network buildout aimed at small to medium size businesses.
South Station development presses forward
BOSTON – Gov. Paul Cellucci has signed into law a transportation bond bill – giving boost to a $600 million commercial complex planned over South Station. The $3.2 billion bond authorization contained a provision exempting the proposed 46-story high-rise from a state law regulating waterfront development. The project, however, will be subject to city and state environmental reviews. It is being developed by the Hines company of Houston.
FleetBoston official wins interest-free loan
BOSTON – A report by Reuters news service says that the relocation of Henrique de Campos Meirelles, the bank’s head of global banking to New York City came with an interest-free housing loan for up to $4.5 million, according to the bank’s latest filing with the U.S. Securities and Exchange Commission. Reuters said FleetBoston recently confirmed the terms of the loan agreement, saying it was done so Meirelles can buy a home in New York City. Reuters said FleetBoston offers customers a 30-year fixed jumbo mortgage for a current rate of 8.5 percent, without points. The cap on a jumbo mortgage is $1 million.
(Compiled from news reports and releases, print and electronic.)
