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February 2011

Breaking News
APIC opens new office

CULVER CITY, Calif. -- APIC Corp. subsidiary PhotonIC has opened an office in Boston. The office will be headed by Italian physicist Marco Romagnoli, who has recently taken a position as a visiting scientist at the Massachusetts Institute of Technology in Cambridge, Mass.



Bitstream launches browser in nine Indian languages

MARLBOROUGH, Mass. -- Bitstream Inc. has released a mobile browser that fully supports nine Indic languages. The browser is built on the publicly traded company's BOLT cloud computing browsing platform. It includes Indic language user interfaces, the ability to render Indic text on a Web page and the ability to allow users to input Indic text into the browser.



Dish Network to offer Cricket World Cup in high def

ENGLEWOOD, Colo. -- Dish Network has announced it will offer an all-access pass to the ICC Cricket World Cup 2011, ensuring that cricket fans across the country won’t miss a second of the action. Plus for the first time, the company said it will offer coverage of the tournament in high definition.



Embezzler starts prison term in Conn.

DANBURY, Conn. -- An Indian-American executive convicted for embezzling $34 million from Wisconsin stereo headphone manufacturer Koss Corp. has begun serving her 11-year prison sentence at the Federal Correctional Institution in Danbury, Conn.



Intel Capital to invest $200 in Startup America

SANTA CLARA, Calif. -- Intel Corp. has joined President Barack Obama’s Startup America campaign to strengthen entrepreneurship in the United States. As part of this partnership, and in conjunction with its ongoing Invest in America initiative, Intel Capital, Intel Corp.’s global investment organization has pledged to invest another $200 million in American technology companies and joined the campaign’s board of advisors.



Mavenir joins forces with RadiSys

RICHARDSON, Texas -- Mavenir Systems, a provider of mobile convergence products, and RadiSys Corp., a provider of hardware and software platforms for Internet-based wireless, wireline and video networks, has joined forces to develop an integrated 3G/4G/LTE mobile services platform.



Pacific Biomarkers gets two deals worth $1.1M

SEATTLE, Wash. -- Pacific Biomarkers Inc., a provider of biomarker laboratory services to the pharmaceutical, biotechnology and diagnostics industries, has been awarded two major research contracts with two multinational pharmaceutical companies to provide clinical biomarker services. The studies involve analysis of biomarkers associated with cardiovascular, metabolic and inflammatory diseases and hepatic and renal injury.  



Salesforce.com buys Dimdim for $31M

LOWELL, Mass. -- Salesforce.com, a cloud computing company based in San Francisco, has acquired Dimdim for $31 million.



SCIOinspire buys National Audit

FARMINGTON, Conn. -- SCIOinspire Corp., a provider of analytics-driven business process services for health plans and hospitals, has acquired National Audit, a health-care claims audit and payment integrity services provider. The acquisition elevates SCIOinspire to a top-tier, independent cost-management and care quality-improvement company with the most comprehensive set of solutions in the health-care industry, the company said.



Textron Defense Systems gets $257M India deal

WILMINGTON, Mass. -- Wilmington’s Textron Defense Systems has received a $257 million contract from the U.S. Air Force to produce 512 CBU-105 Sensor Fuzed Weapon units for the Government of India.



Timberland opens Chennai store

STRATHAM, N.H. -- The Timberland Co., an outdoor footwear and apparel company based in Stratham, N.H., has opened its first store in South India at Express Avenue Mall in Chennai.



U.S. Commerce Secretary in the middle of India trade mission

WASHINGTON -- U.S. Commerce Secretary Gary Locke is currently in the middle of a five day business development mission to India with 24 U.S. businesses. The businesses taking part of the trade mission are based in 13 states across the country and more than half of them are small- and medium-sized companies. The mission is the first visit to India by a cabinet secretary since the President Barack Obama’s November 2010 trip to the country.



XIUS signs deal with Columbian wireless company

WOBURN, Mass. -- XIUS has signed a deal with Movistar Colombia, Colombia’s second-largest wireless carrier serving more than nine million customers across the country. Movistar will use XIUS’s Payment Manager Solution for its electronic prepaid recharge program.



Sub Featured
South Asians optimisitic about finances

Study finds community expects good gain in 2011

NEW YORK — While only 35 percent of all Americans expected their personal financial situation to improve in 2010 from 2009, more than half (57 percent) of South Asian Americans expect their personal situation to improve this year, according to the 2010 MetLife Study of the American Dream.



Executive Profile
Sramana Mitra: 1 Million Ways


Startup vet vows to help entrepreneurs find success

SILICON VALLEY, Calif. — Sramana Mitra remembers her early days in the startup world and the painful lessons she learned running her own business – and she has dedicated her life now to sharing this knowledge with other fledging entrepreneurs.



Focus
Don't break the bank

Successful patent litigation can be done on a practical budget


A 1955 essay in The Economist opened with the famous proclamation "Work expands so as to fill the time available for its completion."

E-Verify satisfies

WASHINGTON, DC. — A recent customer satisfaction survey validates what U.S. Citizenship and Immigration Services has long asserted — that President Barack Obama’s commitment to building the E-verify system is the right investment in building a viable tool to ensure a legal workforce in the United States.



H-1B visa cap hit

WASHINGTON — U.S. Citizenship and Immigration Services announced that is has hit the H-1B visas cap for 2011.

On Jan. 27, the bureau said that Jan. 26 was the final receipt date for new H-1B specialty occupation petitions requesting an employment start date in 2011.



Franchise & Hospitality
AAHOA head joins U.S. travel board

ATLANTA — Asian American Hotel Owners Association Chairman ChandraKant Patel has been named to the Travel and Tourism Advisory Board, which consists of 30 leading travel and tourism business leaders who are appointed by the Secretary of Commerce to advise on industry-related programs and policies.



Aluri joins Boardwalk Fresh Burgers
COLUMBIA, Md. — Koteswara Aluri has signed a development with Boardwalk Fresh Burgers & Fries for Fairfax County, Va.
 
Aluri’s first restaurant, slated to open in April 2011, will be located in Springfield, Va.


America's Best to bring 3 Palms hotels to India
ATLANTA — America's Best Franchising Inc. has signed a deal to launch its "3 Palms" brand of hotels and resorts in India.

According to the Atlanta-based America's Best, SRM Spa and Resorts Pvt. Ltd., headquartered in Mumbai, will open seven 3 Palms Hotel and Resort properties in six Indian states.



South Asian Connection
Memjet develops printers for India


Deal with WeP Peripherals to focus on color printing

SAN DIEGO, Calif. — Memjet, a provider of high-speed color printing technologies, has joined forces with WeP Peripherals Ltd., a print service provider, to offer color office printers in India.



Starbucks to work with Tata Coffee for India

SEATTLE — Starbucks Coffee Co. continues to move toward India with a new deal with Tata Coffee Ltd.

The deal calls for collaboration between the two companies for roasting coffee beans at Tata Coffee's Coorg, India, facility.



Technology
Conexant bought for $284M

NEWPORT BEACH, Calif. — Conexant System Inc. is being acquired by SMSC in a stock and cash deal worth $284 million.

Both of the semiconductor companies are traded on the Nasdaq stock exchange.



EnVision acquired for $1.2M

MADISON, N.J. — EnVision Systems Inc. has been acquired by GSE Systems Inc. for $1.2 million in cash, with the possibility of an additional payment of up to $3.05 million.



S4 opens Colo. office

BURLINGTON, Mass. — S4 Inc., a professional services company specializing in IT and cyber domain services, advisory and assistance services, engineering support, strategy and planning services, has opened a new office in Colorado Springs, Colo. to support opportunities at North American Aerospace Defense Command, U.S. Northern Command and Air Force Space Command.



Top Stories
Featured
Planet Waves

Astrophysicist makes ground-breaking find concerning new planet


PRINCETON, N.J. — Astrophysicist Nikku Madhusudhan spends much of his time researching planets far beyond Earth's solar system. He recently made a unique discovery about a planet called WASP 12b that has the scientific community rethinking the way it — and the rest of us — should be looking at planets outside of our own solar system.

What is unique about WASP 12b is that its carbon-to-oxygen ratio is greater than one, higher than that of any other known planet, said Madhusudhan. "When you discover a planet the first thing you want to do is look at its atmosphere," he added. He said that using spectroscopy, a method of measuring a planet's dispersed light in accordance to its wavelength, proves the planet's unique atmospheric condition.



Sub Featured
Deshpande backs new 'sandbox' initiative


Technology entreprenuer offers $5M over five years

STONEHAM Mass. — Startup veteran Gururaj “Desh” Deshpande’s Deshpande Foundation has joined forces with a coalition of nonprofit organizations and colleges to launch the Merrimack Valley Sandbox, a group of initiatives aimed at helping the Massachusetts’ Merrimack Valley make the leap from industrial city to a city at the forefront of entrepreneurship. This sandbox is no child’s play.



John Deer active in India with govt. deal, $100M factory

MOLINE, Ill. — Agriculture equipment maker Deere & Co. is upping its efforts in India. Last month, the company signed a five-year deal to work with Gujarat to help rural farmers and also said it will invest $100 million to build a new tractor factor India and expand its current facility in Pune.



Kony raises $19.1M VC in first round
 
VC Report
Kony Solutions inc. has raised $19.1 million in first round funding from Insight Venture Partners.

The funding will be used for research and development related to the Kony Mobile Application Platform and to expand sales and marketing, according to the company.



New business council launches with hit event


New England groups aims to promote biz with India

WALTHAM, Mass. — The India-New England Business Council celebrated its birth with a successful first event on Jan. 14 — the "India-U.S. Trade & Investment Conference 2011." The group had more attendees than it anticipated and the feedback was very strong, according to organizers.



Patni fetches $1.22B in iGate buyout

Combined companies hope to compete against IT giants

FREMONT, Calif. — IT software and services company iGate has agreed to acquire Patni Computer Systems for $1.22 billion.

Both Patni and iGate are publicly traded on U.S. stock markets: Patni on the New York Stock Exchange and iGate on the Nasdaq.



Stanford study uses India to examine productivity

STANFORD, Calif. — Economists and researchers at Stanford University have released a study that used India as a testing ground to examine the differences in the productivity of companies in the same industries or countries.











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