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Eye On Business
Cyra Technologies Inc. ( San Ramon , CA ), a subsidiary of Leica Geosystems , has changed its name to Leica Geosystems HDS Inc . According to the company, the name change is intended to reflect several important developments in the company's 3D laser scanning products business since Leica Geosystems acquired Cyra Technolgies in 2001. The headquarters will still be at 4550 Norris Canyon Road , San Ramon , CA 94583 .
Raidtec USA Inc. ( Alpharetta , GA ) has successfully completed a management buyout and separation from Raidtec Holdings Limited , a subsidiary of Plasmon PLC ( Englewood , CO ; Hertfordshire , UK ). Details of the transaction are not being disclosed. Raidtec USA will continue to supply Raidtec data storage networking solutions, and may add the Plasmon line of optical storage products. The ownership transition will not affect current Raidtec customers. Raidtec USA will continue operating out of both its headquarters in Atlanta and its offices in Sacramento , CA , but will ultimately undergo a company name change as yet to be determined.
Aegis Semiconductor ( Woburn , MA ) has secured a Series C round of financing for $10 million, bringing the company's total investment to more than $27 million. The round of financing was completed with participation from all existing investors including St. Paul Venture Capital , Alta Partners , YankeeTek Ventures , Technology Venture Partners , Stata Venture Partners and Megunticook Management . The capital investment will be used to accelerate revenue growth in the communications market and to develop the Active Thin films technology platform. The additional funding will also be used to further leverage the Active Thin Films platform in new market segments.
Vizrt Ltd. ( Bergen , Norway ) reported first-quarter revenue is up 23% to $6.4 million, compared to $5.2 million in the same quarter last year and $6.3 million last quarter. Net profit more than doubled at $900,000 as opposed to last year's Q1 net profit of $400,000. During this business quarter, Vizrt signed up 14 new customers, half of them from North and South America . For Q1 2004, more than $2.5 million came from Europe , more than $1.7 million form the Americas , an more than $1.6 million from Asia Pacific.
Virtual Radiologic Consultants ( Minneapolis , MN ) announced plans to expand its operations to include a central reading facility in Hawaii . The new facility will provide VRC 's radiologists with greater flexibility, including the new option of working from a centralized location. VRC 's physicians will now have the choice to work from Hawaii permanently, to combine their work and vacation schedules to spend extended time in the islands or to work from their preferred U.S.-based location, all within the company's client schedule. The Hawaii facility also will serve as a conferencing site and training center for radiologists new to VRC 's soft-copy interpretation and reporting methods.