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Waltham MA based Axeda raises $9 Million from JMI Equity & MMV Financial November 2, 2009

Posted by HubTechInsider in Cloud Computing, Venture Capital.
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Axeda, the Waltham, MA-based startup that makes a cloud-based system for wireless tracking of company assets, announced this month that it had completed a $5 million Series B funding round led by JMI Equity of San Diego and Baltimore. At the same time, the company announced that it had raised $4 million in venture debt from MMV Financial of Toronto.

Billerica MA based American Science & Engineering scores a $39 million Pentagon contract for X-ray bomb screening systems November 2, 2009

Posted by HubTechInsider in Defense Contracts, Venture Capital.
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American Science & Engineering is a Billerica, MA -based outfit that makes X-ray systems that sniff for drugs and weapons. The Pentagon in January 2009 awarded the outfit a $39 Million contract for its rugged trailers that screen suspicious vehicles for bombs.

Waltham based Raytheon completes $350 Million purchase of BBN Technologies, Internet and Boston technology pioneer November 2, 2009

Posted by HubTechInsider in Defense Contracts, Venture Capital.
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Raytheon Company (NYSE:RTN) has completed its buyout of Cambridge, MA-based BBN Technologies for about $350 million. The amount of the purchase was not disclosed when the Waltham, MA-based provider of defense systems first announced the deal in September 2009. BBN Technologies has meant much to the development of the Internet and the Boston innovation scene over the past several decades.

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