Search

Washington's fast growing high technology sector has spawned a specialized consulting service which prepares high-tech entrepreneurs for their presentation with investors. These consultants are primarily concerned with bridging the gap between entrepreneurs and investors, especially in how entrepreneurs can assure the returns for the investments of investors. These consultants note that while the number of deals between entrepreneurs and investors have increased in the Washington D.C. area, the amount of investments have decreased by almost 30%. These consultants teach entrepreneurs that investors are looking for ventures that have strong management, leadership and strategy.

There are several ways employee recruiting services are trying to meet the demand for workers with experience in telecommunications and information technology. For example, companies such as CareerBuilder Inc uses the Internet to offer employers and job hunters easy and more complete access to the high-tech job market. Traditional recruiting agencies are creating separate departments that specialize in recruiting high-tech workers.

MediaSync International's Edward Poulin and Ashlye Daniel are poised for growth in the translation software market, while the market is still in its infancy and the demand is growing at a rapid pace of 20% to 25% anually. Electronic commerce is growing at a rapid pace with the market expected to reach $220 billion in the year 2001. People prefer to do business in their own language and, with most of US business Web sites still in English, international companies will likely fuel the demand for the software.

Recently, the Sixth Circuit Court of Appeals invalidated part of a $280 million tax incentive package provided to DaimlerChrysler by the State of Ohio and the City of Toledo, finding [...]

Since the 1970s, there has been an increasing proliferation of federal, state and local economic development programs that encourage investment and job creation in certain industries or geographic areas. While [...]

Stockholders who flinch at the sight of their portfolio report should keep two things in mind. One: Getting cancer test results back from the doctor is a lot scarier. Two: [...]

Sandeep Goel needed a name for his Columbia company. The India native had identified a niche market, document imaging, electronically scanning business forms and reports into computers for easier manipulation [...]

A decidedly anti-slacker contingent of Gen-Xers is building bridges from the nonprofit world to the World Wide Web. Your typical hotshot Internet entrepreneur isn't always deadset on becoming a pillar [...]

When your firm is designing the World War Two Memorial on the National Mall, the Pope John Paul II Cultural Center and additions to West Point's football stadium, it must [...]

There's an old sailing expression: It takes a big ship a long time to turn. That's especially true with the military, which, in peacetime, moves with less than its wartime [...]

To some Marylanders, the three Metro lines that stretch out to and into their state might as well be prongs of a fork jabbing them in the side, taunting their [...]

What has made Arlington so hip of late? Trendy bars and ethnic restaurants? Great views from its skyscrapers of Washington's monuments? Suburban-like neighborhoods with an urban edge? To hear area [...]

The twenty-something man looked oddly out of place. Not because he was the only law student at the dedication ceremony looking to cadge a free lunch -- many others lurked [...]

Mention the three letters CPA to most people and they'll likely picture a balding, middle-age white guy in a dark suit with the personality of a rock. Mention the word [...]

The current Washington Convention Center, instead of casting its hulking shadow over the gigantic hole in the ground to the east which is to be home of the new convention [...]

Many observers credit the opening of MCI Center in fall 1997 as the source of the downtown business renaissance. But they also recognize another major player: business improvement districts, known [...]

Operators of the Dulles Greenway say they have fixed their financial woes and raised the number of commuters who will further fill their coffers. Now some developers are aggressively moving [...]

At the turn of the last century, when someone talked about 'branding,' they usually meant putting a scalding iron to their cattle. But branding is still a hot topic as [...]

Veridian teaches NASA how to use the Web in space An Alexandria company is working on technology to take the middleman out of conducting experiments in space. Veridian, a privately [...]

1927 Florida Ave. NW isn't much to look at. Passersby not familiar with the site as the now-shuttered Embassy Theater might be reminded by the oval, windowless building of a [...]

For Matthew Lawlor, the CEO of an online banking start-up, an initial public offering was part of furthering his company's credibility Online Resources & Communication Corp.'s initial public offering had [...]

Telegrafix Inc of Winchester, VA, president and CEO Pat Clawson pushed for the slackening of state securities laws and cutting compliance costs in a hearing held by the Virginia State Corporation Commission (SCC). Clawson said that though he understands safeguards are needed to guard investors, the SCC has gone beyond federal Securities and Exchange Commission policies. The chief investigator of the SCC's Division of Securities and Retail Franchising Broker/Dealer Audit Section argued that safeguards are still needed on all equity offerings in light of the abuses by several firms.

Loudoun County officials had to put up a quick damage control stategy to win back WorldCom and its planned investments in the state after the Virginia state attorney issued statements which questioned the merger between WorldCom Inc. and MCI Communications Corp. WorldCom is planning to establish a headquarters for its UUNet Technologies Inc. subsidiary at Loudon County, building a 900,000 sq. ft. office building for 3,000 workers, 2,000 of which sourced from the county.

Science Applications International Corp and CACI International Inc are entering the information security market. The two companies, which also offer computer systems integration services, are entering a market that is becoming increasingly important in the current competitive environment. Additionally, Trusted Information Systems Inc was acquired by Network Associates Inc for $307 million.

Didax Inc is seeking a new chairman and chief executive officer. The company, which manages a World Wide Web site devoted to Christians and their issues, wants to increase its revenues from $350,000 to $100 million by 2000. The company's current chairman and CEO, Robert C. Varney, will help in the recruitment of his successor.

Analytical Sciences Inc. will relocate and expand its facilities after receiving a five-year contract for Centers for Disease Control (CDC). The firm will move to Silver Springs from Bethesda, where it will construct a new facility for the National AIDS Clearinghouse. The $33 million deal is the largest federal government contract Analytical Sciences has received.

Icarus International Inc. has launched an initial public offering despite a troubled financial past and personnel problems. In 1985 the company filed for bankruptcy, and in 1979, its CEO was convicted of fraud. With these issues resolved, Icarus has filed to sell 2.5 million shares of stock to be priced at $7 to $9. It reported $7.34 million in revenues for fiscal 1997.

Observers predict that recent personnel changes in two technology organizations will foster a new management direction. The resignation of Ray Pelletier, executive director of the Northern Virginia Technology Council, and April Young, head of Potomac KnowledgeWay, signal a new focus for the two groups, including decentralized management and increased funding.

Media Cybernetics of Silver Spring, MD, abandoned a number of computer graphics to concentrate on cancer research products following poor handling of efforts to diversify. The company's problem was there were too many product lines in too many unrelated fields without sufficient resources to handle them, leading to marginal returns from each. According to the company's manager, Doug Paxson, Media Cybernetics is now profitable following the decision.

Former Republican Gov George Allen of Virginia started his new job with Richmond, VA-based law firm of McGuire Woods Battle and Boothe in January 1998. He and and his ex-Chief of Staff Jay Timmons are tasked to oversee the firm's business expansion and relocation practice. The firm hopes Allen will attract major new clients. According to Allen, there is a particular liberation and independence that he enjoys now that he is free from the responsibilities of running an entire state.

Online Resources & Communications head Matthew Lawlor attributes the success of his firm to his connections in New York City. Lawlor says that while he venture capital firms in the District had helped local firms, he believes that they could do more. A consortium of investors in San Francisco, New York and Chicago gave Lawlor's company $20 million in venture capital in 1997.

Columbia Capital Corp., an investment group headed by telecommunications millionaire Mark Warner, plans to fund new information and communications technology companies in the former Soviet Union. Operations in Moscow are slated to be active before mid-1998, and financing could total as much as $100 million. Warner has likened the Russian market to that of 1980s U.S.

Distance classroom learning is growing more popular as a way to take courses without the hassle of going to school. New technology, such as videoconferencing, and the Internet is making more options available. However, critics say that the one-on-one interaction is lost when students opt to learn at home. But businesses are finding that they can cut costs to train employees with distance learning.

Maryland and Virginia technology groups are hopeful that the states' governments will grant them funds needed for infrastructure improvements. Due to the strong U.S. economy, Maryland has $150 million in extra tax revenue, while Virginia has $500 million. Thousands of technology jobs in both states remain unfilled due to a lack of sufficiently trained applicants.

A 10% drop in FastComm's revenue for the quarter ending Nov. 1997 has caused industry observers to anticipate a takeover. FastComm posted a net loss for the quarter at $2.31 million, much more than the $636,000 for the same period in 1996. The firm, which makes digital network access products, has been crippled by legal fees and the Asian economic crisis.

Software developer SAP America Inc. chose to relocate to Washington D.C. from its former location in Northern Virginia as a move to get closer to its customers. SAP is establishing itself in the Ronald Reagan Building and International Trade Center to strategically position itself near federal agencies such as the Environmental Protection Agency, which is the target customer for SAP's software. SAP plans to market human resources management and financial software to public agencies.

Visual Networks Inc., a Rockville, VA-based manufacturer of wide-area computer network systems, has filed plans with the Securities and Exchange Commission (SEC) to undergo an initial public offering (IPO). Visual network's SEC filings indicate it will sell a total of 3.5 million shares of stock for an expected selling price of between $9 and $11 per share. The proceeds of the IPO, which is expected to reach nearly $32 million, will be used for general purposes. Visual Networks officers and directors, which currently holds 64% of the company's stock, are expected to hold only 51% of the Visual Networks' stock after the IPO.

Hayes-Access Beyond CEO Ron Howard will become the CEO of Hayes Communications Inc, the new company that will be formed after the merger of Access beyond with Hayes Microcomputer Products. The position became available after Hayes Microcomputer chief Joe Formichelli resigned from his post on Sep 30, 1997. Howard maintains that restructuring may have to take place at Access Beyond and that downsizing is a possibility. Hayes Communications is planned to be publicly traded in the future. Meanwhile, for the quarter ended Jul 31, 1997, Access Beyond had a net loss of $7.7 mil.

David Hunn, the new executive director for the Regional Workforce Development Coordinating Center will focus on the increasing demand for technology professionals in northern Virginia. Companies will be surveyed to find what skills are sought, then training programs will be implemented for those skills. The program is expected to turn out 300 workers within nine months.

Venture capital companies invested around $107 million into 17 businesses in the Washington region during the qtr ending Sep. 30, 1997, generating an economic boom in the area. The figure topped previous qtr numbers, at $61.8 million in the second qtr and $34.7 million during the first. Gene Logic Inc. received $20 million and Global TeleSystems Group Inc. received $39.2 million.

Sparky Wilson and Chris Neumann found success in providing Web page design and conventional advertising design services. The two men borrowed $8000 from Wilson's parents in 1994 and launched indigo group omnimedia inc. In just three years, the company has grown from a two-men business venture into a $1.2 mil company with 12 employees. So successful was the company that it has even moved the 12th floor of USA Today building in Rosslyn, VA.

Beltsville, MD-based Digex's co-founder, Dong Humphrey, starts up skycache, a new Internet venture that employs satellites to make the web more accessible and quicker for users. Humphrey also establishes Phase One, an incubator for new and small technology firms that provides financing to start-ups. Humphrey acquired with several of his peers from Digex a two-story Laurel, MD, building that will house the two new companies.

Essex Corp of Columbia, MD, an optical imaging and satellite technology firm, is facing a loss of $500,000 credit line in the middle of a possible shutdown. The company is finding it difficult to locate buyers in the military and medical imaging markets for its optoelectronic products. According to analysts, Essex' products and technology are ahead of market demand.

Chantilly, VA-based Didax Inc has named William M. Parker from the CACI International Inc as its new chief executive officer, president and as a member of the company board. Before being chosen to join the top management of the Christian online network, Parker served as head of CACI's business development operations and managed the company's information systems division. Parker is expected to take the place of Bob Varney, 53, who is retiring from his post as CEO of Didax.

MainControl Inc of Vienna, VA, a maker of asset management software, is planning to conduct an initial public offering. The company plans to use the proceeds from the public offering to improve its sales and marketing programs worldwide. However, there is still no definite amount or price to be presented. The company, which is considered among the leading recipients of venture capital in 1997, is expected to post revenues amounting to more than $10 mil in 1998.

Best Software Inc.'s $10 mil acquisition of Germany-based HR Management Software GmbH may just be the company's toehold into the European software market. Best Software's acquisition of HR Management Software may just be the strategic opening and optimal use of resources that the company can make use of its earnings, which for the first nine months ending Dec. 31,1997, amounted to $3.8 mil on revenues of $36.5 mil. HR Management Software has the necessary distribution and marketing infrastructure in Europe to make the purchase work for Best Software. Prior to the acquisition, HR Management Software reported revenues of $6 mil for 1997 and is projected to grow at a rate of 35% annually.

Norway-based Tandberg Inc. is coming to the defense of its newly acquired firm NuVision Technologies Inc. after being named in a lawsuit by PictureTel Corp. over unfair business practices. PictureTel charged NuVision of disclosing confidential pricing information in its print advertisements. PictureTel holds the top spot in the videoconferencing industry, while NuVision vaulted from fourth to second place after its acquisition by Tandberg. NuVision posted revenues amounting to $20 mil in 1997, while parent Tandberg posted $35.5 mil in worldwide revenue.

An announcement of a possible public offering by American Communications Services Inc. (ACSI) has puzzled analysts due to the firm's decreasing stock value. Per-share prices dropped to $11.63, a 12% decrease, on Feb. 20, 1998, and ACSI's 52-week stock price decrease reached nearly 30%. Company officials, however, expect the offering to raise a minimum of $50 million.

Software company NetFactory Inc of Silver Spring, MD, plans to boost threefold its revenue and more than double the number of its workers in 1998 after receiving $4 mil in venture capital funding. The company's high-profile customer base, which includes AT&T Corp, Mobil Corp and Bell Atlantic Corp, and a sound balance sheet drew the interest of two venture capital companies. Sigma Partners Inc of Boston, MA, and Atlas Ventures of Menlo Park, CA, each pumped in $2 mil.

Fairfax County, VA, executive Robert J O'Neil started his seventh month on the job by proposing to consolidate some county agencies, eradicate several top management positions and establish merit pay for county employees. The radical plan is exactly what was expected of O'Neil when he was hired by Fairfax County supervisors. O'Neil notes that they can not afford to be complacent if they would like to remain a place of choice.