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POSTED: Tuesday, April 23, 2013, 6:30 PM
Filed Under: Technology

Unisys Corp. would love to finish 2013 with flat revenue over 2012.

Well, that's going to be a tough slog after the Blue Bell information technology services company reported a 13 percent decline in revenues for the first quarter.

Revenue fell to $810 million from $928 million for the first three months of 2012.

POSTED: Wednesday, March 27, 2013, 4:27 PM
Filed Under: Technology

Bentley Systems Inc., an Exton software developer focused on roads, bridges and other infrastructure projects, said revenues increased 5 percent to $550 million in 2012 from $523 million in 2011.

Chief executive Greg Bentley -- who described Bentley Systems as a “no drama company” on a conference call -- said the Middle East and Africa were its fastest-growing regions last year.

“We continue to be a motivated number-two” competitor to Autodesk Inc.’s Architecture, Engineering & Construction software business, he said.

POSTED: Monday, March 25, 2013, 3:00 AM
Filed Under: Technology

Say goodbye to one of the 17 companies that made the Inc. 500 fastest-growing companies list in 2012.

Transcend United Technologies L.L.C., a Wayne information technology firm, was acquired last week by AGC Networks Inc., a U.S. unit of an Indian conglomerate.

The Inc. 500 list ranks privately held companies by their revenue growth over a three-year period. Transcend United was ranked No. 254 on last year’s list, with revenue growth of 1,406 percent.

POSTED: Friday, March 22, 2013, 6:18 PM

Venture capital funds do not last forever, and Cross Atlantic Capital Partners has said it will wind down a fund started in 1999.

The Radnor firm, which has more than $500 million under management, said Friday it will liquidate its remaining portfolio holdings. Cross Atlantic said the decision comes after several "successful exits, including three IPOs."

Firms generally are not eager to tout the beginning of the end for a fund. But in this case, the Cross Atlantic Technology Fund L.P. owns 668,572 shares of Rubicon Technology Inc., a publicly traded maker of products used in LEDs and other optical equipment.

POSTED: Tuesday, March 19, 2013, 1:40 PM

First Round Capital, one of the nation's most active venture capital investors, has been picked by the City of Philadelphia to manage its $6 million seed fund.

The West Philadelphia-based First Round Capital intends to invest the capital in Philadelphia start-ups over the next two to three years. The average size of investment will be about $500,000, according to First Round founder Josh Kopelman.

At that amount, the Startup PHL Seed Fund would invest in 12 companies from the information technology sector.

POSTED: Wednesday, June 13, 2012, 5:46 PM
Filed Under: Small Business | Technology

Center City social gaming developer Ryzing L.L.C. has been acquired by a California game developer called RockYou Inc.

Terms of the acquisition were not disclosed.

A statement released by one of Ryzing's investors indicated that Ryzing's team, headed by Manu Gambhir, will join RockYou, which intends to maintain and grow the Philadelphia office.

POSTED: Tuesday, April 10, 2012, 8:18 AM

Somebody opened the deal window.

Philadelphia-area companies are buyers, sellers and prey in separate transactions announced Tuesday.

First up, Penn Virginia Resource Partners L.P. said it will buy pipelines that serve Marcellus shale natural gas producers in northeastern Pennsylvania from Chief E&D Holdings L.P. for $1 billion. Radnor-based Penn Virginia plans to finance the deal through a combination of equity and debt.

POSTED: Tuesday, March 13, 2012, 8:45 AM
Filed Under: Pharma, Biotech | Technology

Almac Group, the Northern Ireland-based provider of services to the pharmaceutical industry, will spend $10 million expanding a commercial packaging operation in Audubon, Pa.

The privately held company, which moved its U.S. headquarters to Souderton in 2011, said it had been bulk manufacturing and packaging U.S. products from its location in the United Kingdom.

"With the addition of the Audubon facility, we will now be able to offer these packaging services local to the U.S. marketplace, providing cost saving and mitigating supply risks," said David Downey, Almac's vice president for commercial operations, in a statement.

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Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at

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