Real Estate Moves

dotPhoto’s Deal

Broadbeam Sold

Integra’s Deal

Deaths

Corrections or additions?

These articles were prepared for the May 10, 2006 issue of U.S. 1 Newspaper. All rights reserved.

Life in the Fast Lane

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Real Estate Moves

Community Associations Institute (CAI), 1675 Whitehorse-Mercerville Road, Suite 206, Mercerville 08619; 609-588-0030; fax, 609-588-0040. Curt S. Macysyn, executive vice president. Home page: www.cainj.com

After 26 years at Parkway Corporate Center in West Trenton, the New Jersey chapter of Community Associations Institute expanded to 1,700 square feet in Mercerville.

A national nonprofit organization, CAI provides its members with information on community association management and operation and best practices. It also offers classes and networking forums for professionals, managers, service providers, board members, and home owners.

Feller & Feller Appraisers & Realtors, 78 Route 31 North, Pennington 08534; 609-737-8115; fax, 609-737-8823. Harry Feller, president.

Audrey and Harry Feller put their 1,800 square foot building on the market but continue to operate out of a home office in Hopewell. Their daughters (Sharon and Susan Feller) have a branch of the business in Point Pleasant.

"I’m hoping the building doesn’t sell," claims Audrey Feller, who priced the property at $490,000. "We have been in business 40 years and we don’t need to sell it. We worked seven days a week, but we enjoy it. We’ll always be doing something."

Lighthouse Business Group Inc., 143 Dorchester Road, East Windsor 08520; 609-915-3491. Peter C. Haas Jr., Home page: www.lighthousebg.com

After six months on State Road, Peter C. Haas Jr. moved his loan firm, the Lighthouse Group, from State Road to East Windsor. The telephone did not change. A 1969 graduate of the New York Institute of Technology, he spent most of his career in banking with First Fidelity, now called Wachovia. Other offices of the Lighthouse Group are in upstate New York and Connecticut. He makes real estate, equipment leasing, and business loans.

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dotPhoto’s Deal

dotPhoto.com, 800 Silvia Street, American Enterprise at Ewing, Ewing 08628; 609-434-0340; fax, 609-434-0344. Glenn Paul, founder. Home page: www.dotphoto.com

Two Princeton venture capital firms, the Edison Venture Fund and Sycamore Ventures doubled their investment in dotPhoto by contributing to a $3.5 million second round of funding. Also contributing to the fund was Ivan Ruzic, current president and CEO at dotPhoto. Two new vice presidents, Jiren N. Parikh and Fred King, relaunched both the professional photo-sharing website and a portfolio of photo-sharing applications for the global wireless industry.

The 20-year-old Edison Venture Fund, based on Lenox Drive, has $450 million under management (www.edisonventure.com). Vaughn Drive-based Sycamore Ventures was founded by former Citicorp investors in 1995 and manages more than $550 million.

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Broadbeam Sold

Broadbeam Corp. (former Nettech Systems), 2540 Route 130, Suite 116, Cranbury 08512-3510; 609-655-3737; fax, 609-655-1282. Janet L. Boudris, CEO. Home page: www.broadbeam.com

Broadbeam Corp, a middleware software firm for the mobile workforce, has been bought for an undisclosed sum by a provider of mobile data software, MobileAware Ltd. The buyer is based in Dublin, Ireland.

Broadbeam was founded as Nettech Systems by Boris Fridman, who is now associated with Outland Technology. Broadbeam’s customers include Bell South, Pepsi Bottling and TNT Express.

Among the investors in Broadbeam were Early Stage Partners and Allegra Partners. MobileAware is backed by Bank of America, Intel Capital, and AIB Equity. Cross Atlantic Capital Partners owned shares in both firms.

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Integra’s Deal

Integra LifeSciences Holdings Corporation (IART), 311E Enterprise Drive, Plainsboro 08536; 609-936-3600; fax, 609-275-5363. Stuart M. Essig, president/CEO. www.integra-ls.com

When you do a deal, everyone wants to hear the story about it. Stuart Essig, CEO of Integra Life Sciences Holdings, will tell about how he bought the Radionics division of Tyco at the Association for Corporate Growth meeting on Tuesday, May 16, at 7:15 p.m. at the Woodbridge Hilton. Call 908-989-9191.

With 1,400 employees worldwide, Integra offers medical devices for implants, biomedicine for treatment of cranial and spinal disorders, soft tissue repair, and orthopedics. It has been growing by acquisition. On May 8 it reported first quarter revenues of $77.1 million, a 17 percent increase over the first quarter of 2005.

Last fall the firm paid $80 million for the Radionics division of Tyco Healthcare Group LP. The price included the 135-worker Burlington, Massachusetts facility that makes instruments for neurosurgery and radiation therapy. The acquisition of the epilepsy monitoring and neurosurgical shunt business of another division of Tyco Healthcare Group took place several years ago.

Just last month Integra paid $101 million in cash for Miltex Inc., a provider of hand instruments to physician and dental offices that had $62 million in revenues last year. The price included Miltex’s 200-worker manufacturing and distribution facility in York, Pennsylvania and a design facility in Tuttlingen, Germany.

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Deaths

Karen Reed, 48, on May 3. She worked in the Advanced Placement program at Educational Testing Service on Rosedale Road.


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