Covance Inc. (CVD), 206 Carnegie Center, Princeton 08540-6681; 609-452-8550; fax, 609-452-9375. Joe Herring, CEO. www.covance.com.
Covance, based at 206 Carnegie Center, announced on August 11 that its will acquire TRAC Microbiology, a Wisconsin-based food microbiology and, chemistry laboratory for an undisclosed amount. TRAC provides testing, research, auditing, and consulting services to clients ranging from small family businesses to major food-based corporations.
According to Covance, microbiology is a key growth area for the company’s nutritional chemistry and food safety service
Berlitz International (BTZ), 400 Alexander Park, Princeton 08540; 609-514-9650; fax, 609-514-9675. Sandy Welsh, consumer marketing director. www.berlitz.com.
Berlitz, an international language education firm based at 400 Alexander Park, has acquired Telelangue SA, a global provider of language services based in France, for an undisclosed amount. Telelangue specializes in distance learning through customized phone classes and E-learning.
Mikros Systems Corp. (MKRS.OB), 707 Alexander Road, Building 2, Suite 208, Box 7189, Princeton 08543; 609-987-1513; fax, 609-987-8114. Thomas J. Meaney, president. www.mikrossystems.com.
Mikros Systems, which develops R&D for electronic systems technology for military applications, has received a $3.8 million contract from the U.S. Navy to build 36 Adaptive Diagnostic Electronic Portable Testset (ADEPT) units.
The contract is an addition to the five-year, $26 IDIQ contract Mikros won from the navy in 2010. Mikros expects to receive additional new orders for engineering services in 2011, and continues to anticipate $4-5 million of annual revenue under this contract.
Midawi Holdings Inc. (DoughMain.com), 189 Wall Street, Suite 1, Princeton 08540; 609-356-0813; fax, 609-356-0658. Kenneth Damato, CEO. www.doughmain.com.
DoughMain, an online financial literacy program aimed at children from kindergarten through high school, closed a $5 million round of investment. Funded by angel investors, the financing will support the launch and expansion of DoughMain.com, previously designated OurDoughMain.com.
The company, which partially launched in June, now has the necessary financing for a formal launch, according to Kenneth Damato, president and CEO of DoughMain and its parent company, Midawi Holdings (U.S. 1, July 6).
The fundamental idea behind DoughMain.com is learning through play. Games built to make players solve problems and engage their reasoning abilities, says Damato, supply entertainment that reinforces critical thinking. And when the foundation for these games is financial problem solving, kids learn the abstract concepts of money management and fiscal responsibility in ways that spark their imaginations.
Kids aged 5 to 8 can play Flash-based games like “Coins of the Deep” in ODM’s “Fun Vault.” This is one of a few underwater-themed games ODM is setting up. It works like the card game Memory, in which players turn cards over and need to recall where they saw a match.
Teenagers, on the other hand, engage in peer-to-peer connections, including video clips that address money issues and questions teenagers have, such as “How can I get money for college?”
Parents set up everything, which means, Damato says, that they control everything. This includes knowing with whom their children consort on the site. ODM is built for families, but kids can build social networks of friends too.
Damato, 39, grew up in Sayerville. He graduated from Northeastern University with a bachelor’s degree in marketing and business administration. He has been the COO of the Tyden Group, a senior vice president at American Standard, managing director of Intrepid Capital Partners, and the vice president of marketing at GE Lighting, where, at age 28, he was the youngest senior executive in his division. His father was “a self-made man” who started small at a supermarket company and retired a vice president from A&P markets.
Newlin Capital Partners LLC, 44 Nassau Street, Princeton. Robert L. Honstein, senior managing director. www.newlincapital.com.
Newlin Capital, an independent investment management firm focusing on real assets for endowments, foundations, and high-net-worth individuals, has left its location on Nassau Street and moved to Newtown. The firm can be reached at 215-525-2010.
Thomas McCue, 60, on August 12. He was employed by Verizon.
John Heher, 81, on August 12. He was a senior partner in the law firm of Smith, Stratton, Wise, Heher & Brennan