Company and tech news from the region.
eResearch picked for two studies
Philadelphia-based eResearch Technology Inc. was selected to provide $1.5 million in cardiac-safety-data collection, measurement, interpretation, review and distribution for studies involving two drugs being developed by a pharmaceutical company that it would not identify. The company will work on two studies that are being significantly expanded for one compound and one new study for another compound. The studies are being conducted at 220 sites across North America.
Microsoft to help create high-tech high school
Microsoft Corp. and the Philadelphia School District have entered into an agreement to develop a $46 million high school for 700 of the district’s students. The Seattle software company and the district will work together on the planning, design, development, construction and completion of a new high school that will embed technology from the ground up into the school’s educational and operational structure. The project will be funded by the district’s capital construction program and is targeted to open in three years. Financed as part of a five-year capital plan with bond sales totaling $697 million, the jointly developed school is part of the district’s larger reform plan.
Neoware, GERS Retail team up
King of Prussia-based Neoware Systems Inc., a supplier of managed thin-client appliances, and GERS Retail Systems, a supplier of retail point-of-sale systems, will jointly market a point-of-sale and back-office platform for retailers. The agreement creates a single solution that combines GERS’s transaction management and business intelligence software with Neoware’s thin-client appliances. Under the agreement, GERS and Neoware will each offer the new turnkey solution to retailers looking for a secure thin client appliance platform for accessing server-based applications and enterprise-ready transaction management software.
ISS gets $3M Raytheon order
Innovative Solutions & Support Inc. received a $3 million order from Raytheon Aircraft Services for air-data-display and analog-interface units for Raytheon’s Beech-Jet 400, Hawker 700 and Mu 300 series of aircraft. ISS already provides instrumentation for Raytheon’s King Air 200/350 and B1900 models. The Exton, Pa.-based company said it will begin delivering the equipment this quarter. RVSM stands for reduced vertical separation minimum. The vertical separation minimum is the vertical distance aircraft are required to keep from other aircraft above and below them. Aviation authorities are reducing it to allow more aircraft in the air at the same time.
WPCS completes Clayborn acquisition
WPCS International Inc. of Exton completed its acquisition of the Clayborn Contracting Group Inc. for roughly $3 million. Of the purchase price, $2 million was cash. The remainder consisted of 826,446 shares of WPCS common stock. Clayborn, based in Auburn, Calif., provides project engineering services for specialty communications systems. WPCS installs WiFi and fixed-wireless communications systems. The acquisition brings WPCS’s annual revenue run rate to about $20 million and boosts its staff to 110.
Integrated Data offers to buy IT sales company
Integrated Data Corp., a Conshohocken-based holding company, is offering $3.50 a share to acquire TransNet Corp., a Branchburg, N.J.-based information technology sales and service company. IDC wrote a non-binding letter of intent to TransNet’s board of directors expressing its interest in acquiring TransNet. IDC used to be known as Clariti Telecommunications International Ltd. It emerged from bankruptcy protection late last year. IDC’s latest offer for TransNet consists of $1.25 per share in cash and $2.25 per share in IDC stock. IDC also said the offer won’t become effective until it is accepted by 90 percent or more of TransNet stockholders.
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