Issue of March 20, 2007
TelVue buys Princeton Server
TelVue Corp. based in Mt. Laurel announced that it has executed a purchase agreement with Plainsboro-based Princeton Server Group, Inc. for $6.1 million in cash plus forgiveness of a $400,000 loan. The acquisition formalizes a long-term collaboration between the companies and allows TelVue to provide solutions featuring digital video equipment, localized content and production services developed specifically for the public, education and governmen cable channel market.
TelVue Corp. is the parent company of TVTN, a national network of municipally-owned cable channels, according to TelVue. The company provides localized content, production support and automation technology solutions for municipalities with local cable channels. Princeton Server Group is a provider of professional digital video broadcast systems to hometown cable channels.
"This acquisition makes perfect sense for TelVue and our investors because both companies serve the same client base with complementary offerings," said Joseph Murphy, co-founder, president and chief executive officer of TelVue in a released statement. "In the near-term, we have the opportunity to cross-sell into each other’s customer base. Long-term, our intention is to develop integrated solutions that enhance our customer’s workflow, offer exciting new services like web streaming and video-on-demand, and make it less costly and difficult to add a professional touch to your hometown channel," Mr. Murphy stated.
"The digital video products we’ve developed for transitioning hometown cable channels from legacy, tape-based workflow has positioned us as a technology leader in the market," stated Jesse Lerman, co-founder, president and CEO of Princeton Server Group. "TelVue’s content and production support helps to showcase the full potential of our equipment, making it easier and cheaper for municipalities to provide professional looking local television channels."
Princeton Server Group and TVTN will continue to operate at their current locations.
Narrowstep partners with Wm. Morris
Narrowstep, which offers television and video over the Internet and has offices in Plainsboro and London has entered into a strategic partnership with William Morris Agency. According to Narrowstep, the partnership is designed to leverage WMA clients, which include Hollywood talent and Fortune 500 brands, to create and launch television-like programming using Narrowstep technology and solutions.
The company also announced the completion of a $7.1 million financing round. David McCourt, Narrowstep chairman and chief executive officer, is currently looking to expand space in the Princeton area for Narrowstep’s corporate offices. The company will be hiring sales, customer service and technology individuals.
"The rise of consumer power and choice in video is similar to the one I saw in the telecom business in the last two decades, and there is no better partner than entertainment industry powerhouse WMA to create opportunities for today’s internet demand," stated Mr. McCourt, who runs the Princeton-based private investment firm Granahan McCourt Capital, in a release.
WorldWater gets $5.7 million contract
WorldWater & Power Corp., the Pennington-based developer and marketer of solar power systems, announced that it has been awarded a contract worth $5.7 million by Bayshore Recycling Corp. for installation of a 700 kilowatt system at Bayshore Recycling’s Keasbey, headquarters. Bayshore, a large regional recycler of construction debris, will utilize the solar installation to power a significant portion of its operations. The firm recycles concrete, asphalt, brick, block, and slag, which are processed and transformed into marketable products. The contract is subject to financing being obtained and approval of a rebate by the New Jersey Board of Public Utilities.
"Selecting a non-polluting energy source was a natural decision for us," stated Valerie Montecalvo, president of Bayshore Recycling. "Our entire mission is to reduce waste and improve the environment, so we are thrilled that WorldWater & Power will be building a state-of-the-art solar energy system to reduce our energy costs and provide sustainable, non-polluting power." Quentin T. Kelly, Chairman and CEO of WorldWater, commented, "Bayshore has been an environmental leader for many years and can clearly benefit from the capabilities of WorldWater’s solar electric technology. We continue to bid on large systems such as this and are seeing increased demand for turnkey applications that can leverage WorldWater’s engineering expertise and industry-leading efficient solutions."
Impliant spine system approved
Impliant, Inc., a developer of spine arthroplasty alternatives to fusion surgery, announced that its wholly owned subsidiary, Impliant Ltd., has received CE Mark approval for its patented TOPS-on-Fusion system. "In clinical trials in South Africa, Belgium and Turkey, the TOPS-on-Fusion system has demonstrated effectiveness in alleviating pain stemming from degeneration of the posterior elements," stated Marcus Klarl, European vice president for clinical affairs. Impliant, a privately held company, is applying new materials and biomechanical engineering techniques to develop a class of spine arthroplasty devices that target more than 400,000 patients worldwide who undergo fusion surgery. Impliant is headquartered in West Windsor with research facilities located in Ramat Poleg, Israel.
Pennington labor business launched
Arthur Richard Stout, Jr., a Pennington resident has launched the business Labor Rental. Labor Rental is for those looking to rent a single worker or workers for a short time to do a wide variety of things. The company will help people with work around the house, moving furniture, tree trimming/chainsaw work, cleaning out attics and basements, and other tasks. Potential customers can call 609-638-1590

