Narrowstep (NRWS), 202 Carnegie Center, Third Floor, Princeton 08540; 609-945-1760 David C. McCourt, chair and interim CEO. www.narrowstep.com.
A year after broadband television company Narrowstep was set to be acquired by Onstream Media, it has been aquired by KIT, an England-based digital media firm.
Narrowstep and Onstream Media of Pompano Beach, Florida, had signed a definitive merger agreement last June that would have led to Onstream acquiring Narrowstep. An Internet television company founded in the United Kingdom, Narrowstep was later backed by David McCourt, formerly CEO of RCN, who became Narrowstep’s CEO. He now is a partner in the Hopewell-based private investment firm Granahan McCourt, which, as a shareholder of Narrowstep, will lend $350,000 to KIT digital in an interest-free convertible note. This will be used to cover technical and operational restructuring charges incurred in the acquisition.
“Both parties thought it important that KIT digital was provided a small cash cushion in the deal, to effectively transition over Narrowstep’s assets, customers, and employees,” McCourt said.
KIT estimates Narrowstep’s recurring revenues to be approximately $110,000 per month. The transaction includes a transition of Narrowstep’s client relationships to KIT digital. The include the Outdoor Channel, the Paralympics, BBVA, and the Red Cross. The companies will consolidate staff in London and New York.
New in Town
Inhouse Marketing Group, 32 North Main, Pennington 08534; 609-818-1111. Michael Briehler, president. www.inhousemarketinggroup.com.
Michael Briehler is not a marketing expert. That’s why he hired five experts to launch Inhouse Marketing Group, an end-to-end marketing firm that recently opened in Pennington.
“I’m more of a business organizer,” Briehler, Inhouse’s president, says. And organization is behind Inhouse’s mission. Briehler wanted a company that would be a one-stop shop for businesses; one that would eliminate the need for someone to have to coordinate a marketing job through multiple agencies.
Briehler’s plan was to have a place where the entire team was in on a project, and where someone looking for marketing services could go when they wanted results faster and more affordably. He tells of a client with whom he met at 6 p.m. to talk over a marketing strategy. Briehler’s crew had a full proposal ready for the client by 3 a.m. the following day. “That would have taken weeks before,” he says.
Briehler juggles his new duties at Inhouse with his duties at PEAC Fitness, which he founded as the Pennington Athletic Club in 1995 and continues to operate. While on the surface his two businesses sound far apart, Briehler believes business is business, and that his experience in real estate and business operations help him facilitate both enterprises.
Briehler was grounded on business by his family, which operated a retail real estate business. He became a real estate developer and did real estate consulting in the 1980s and ’90s before turning his entrepreneurial eye toward fitness. Under his guidance, PEAC grew from 30,000 square feet to more than 100,000 square feet today, and he employs more than 100 there.
As the head of PEAC, Briehler did the company’s marketing himself. He came to know the routine of calling experts to help him figure things out and built up a good list of pros in the marketing field. Back then people would ask him for advice on marketing or design issues and he would try to answer them (“Because I can never say no to anybody.”). These days he simply points the questioner toward one of Inhouse’s staff.
Briehler sees his staff as equals when it comes to their contributions to the company. Kinley Borden, the firm’s graphic designer, studied at the Pratt Institute and built a 25-year career as a creative, art, and production director, as well as an extensive knowledge of all aspects of marketing and communications.
Jeff Witkowski, Inhouse’s technology expert, handles website design, development and management. He focuses on continual maintenance, search optimization, E-commerce, E-mail, and associated links.
Christine Tentilucci, the firm’s communications manager, organizer and administrator, earned her communications degree from Penn State and built a career in business and corporate marketing, ranging from public relations to event planning. She also has served as an editor of newsletters and brochures for schools, corporations, and non-profit organizations.
Betty Ivins is Inhouse’s brand solutions expert and has more than 25 years experience in corporate gifts, promotional products, and advertising specialties, from uniforms to specialty apparel. Briehler says she keeps the company up on trends and changes in the business world.
Inhouse also works with Kim Waters of Zoe Graphics, which shares 32 North Main Street with Inhouse. Walters is a consultant with 21 years in business. She provides retailers, businesses, corporations, and non-profit organizations with the brand identification that represents them most effectively.
“Talking to me is essentially talking to anyone else here,” Briehler says of his staff. He admits that were it up to him entirely, there would be no marketing business with his name on it. “I would have never taken this venture if I didn’t have the team I assembled,” he says. — Scott Morgan
EUSA Pharma (CYTO), 650 College Road East, Princeton. www.cytogen.com.
U.K.-based EUSA Pharma, which acquired the struggling Cytogen in a $22.6-million deal last year, has moved Cytogen’s former operations here to Langhorne, Pennsylvania.
The all-cash Cytogen deal concluded on May 8, and under the terms of the agreement, Cytogen shareholders will receive 62 cents per share. To meet the consideration, EUSA has raised approximately $50 million in an investment round led by TVM Capital and supported several venture partners. EUSA will now apply to delist all Cytogen’s issued shares from NASDAQ.
The deal also brings three oncology and pain control products, a US specialty sales force, and an established commercial infrastructure to EUSA, which is headquartered in Oxford, England. With the completion of the acquisition, Cytogen will form a wholly-owned subsidiary of EUSA and will operate under the EUSA name.
EUSA CEO Bryan Morton called the acquisition “particularly significant,” as it completes the firm’s transatlantic growth platform. EUSA can be reached at 215-867-4900, or at www.eusapharma.com.
L-3 Communications/Sage Management, 15 Roszel Road, Suite 102, Box 2229, Princeton 08543-2229; 609-452-2950; fax, 609-452-2856. Larry Harper, division manager. www.titan.com.
ARAP Group, which does R&D on atmospheric, fluid, and solid mechanics, has adopted the name of its parent company, L-3 Communications.
Educational Testing Service, Rosedale Road, Princeton 08541; 609-921-9000; fax, 609-734-5410. Kurt F. Landgraf, president. Home page: www.ets.org.
Walt MacDonald has been appointed executive vice president, programs and services for Educational Testing Service (ETS). With this appointment MacDonald becomes responsible for all of ETS’s products and services. “Consolidating our programs and services under his leadership will focus our efforts more effectively and, as a result, ensure our success in a changing marketplace,” ETS CEO Kurt Landgraf said in a statement.
MacDonald joined ETS in 1984 as a science assessment specialist, working in what was then the College Board Division.
MacDonald earned a bachelor’s degree in biology and a doctorate in ecology from Rutgers University. He has also completed postdoctoral work for the NJ Department of Environmental Protection and the U.S. Army Corps of Engineers.
Innophos Inc. (IPI), 259 Prospect Plains Road, Building G, Cranbury 08512; 609-495-2495; fax, 609-860-0138. Randy Gress, CEO. www.innophos.com.
Phosphate manufacturer Innophos Holdings Inc. has announced that its chief financial officer, Richard Heyse, resigned on June 4.
Heyse, 46, who was with the company since 2005, plans to assume the role of CFO at WESCO International Inc., an electrical and industrial supplier.
Mark Feuerbach, 50, currently Innophos’ vice president treasury, financial planning and analysis, will assume the additional role of interim CFO, reporting to Chief Executive Randolph Gress.
The BioAnalytics Group LLC, 241 Forsgate Drive, Jamesburg 08831; 609-632-0091; fax, 609-632-1224. Scott Lett PhD, CEO. www.bioanalyticsgroup.com.
Pharmaceutical software developer BioAnalytics Group, maker of BioWise SOFTWARE, has signed a collaborative agreement with Metuchen-based protein research firm Brighter Ideas to focus on development of technologies for analyzing proteases, protease inhibitors, and their activities in mixtures.
The work is expected to lead to commercialized products for the research, diagnostics, and therapeutic industries, according to Bioanalytics Group CEO G. Scott Lett.