Corrections or additions?
This article was published in U.S. 1 Newspaper on December 15,
1999. All rights reserved.
Sold to California: PV Kannan
P.V. Kannan has sold Business Evolution, a
College Road-based company, to Kana Communications, a hot E-commerce
software provider that went public on Nasdaq (KANA) in the fall.
received a reported $140 million in stock for his 65-person firm.
Based in Redwood, California, with a market value of nearly $5
Kana is in the same business as the former Business Evolution —
turning online browsers into buyers. It has more than 250 customers
including more than 10 of the top 20 most visited sites on the
Its online customer communications solutions support multiple channels
of online contact: inbound and outbound E-mail, web based customer
self-service, web forms, real-time messaging and voice over the
Kannan has devised numerous groupware products used by both major
corporations and government entities, such as NASA, and online two-way
retail software used by such companies as Home Depot, L.L. Bean and
Buy.com. It lets customers participate in a live dialogue while
a website, and it assigns priorities to customer queries so responses
can be made through delayed or real-time channels. Kannan will remain
on College Road as vice president of what is now Kana Realtime, which
is now the name of his software product.
Business Evolution had about $3 million in sales this year, and it
recently raised $5 million in a private placement from investors
Nassau Capital, one of Princeton University’s investment companies.
The transaction with Kana will be accounted for as a "pooling
Kannan grew up in southern India and received two degrees from the
Institute of Chartered Accountants in New Delhi. He came to the United
States in 1991 to work on an IBM project in Chicago, then worked at
Oracle Consulting in Portland, Oregon. He cofounded the firm with
his wife, Shanthi, in Vancouver, British Columbia (U.S. 1, April 30,
1997). They relocated to the Princeton area in 1995 when Kannan saw
how much more common the use of groupware was in the east.
Princeton 08540. P.V. Kannan, vice president. 609-951-0216; fax,
Home page: http://www.kana.com.
Information not available in this version of story.
08534. James Hyman, president and CEO. 609-466-2900; fax,
Home page: http://www.hvcbonline.com.
With nearly $27 million in assets the new community bank has moved
from temporary space in Pennytown to its permanent headquarters. The
primary organizer behind this venture was Patrick Ryan (U.S. 1, March
Princeton 08540. Mark I. Massad, partner. 609-924-7200; fax,
This accounting firm moved from 104 Carnegie Center to 17 Hulfish,
Suite 280. Dave Ambrose joined the firm as a partner in November.
He had his own practice in Staten Island. Other partners are Ronald
J. Sacco, Hal Peterson, and Mark I. Massad. The phone and fax numbers
08542. George Howard, president. 609-921-0868; fax, 609-921-0933.
This company, which coordinates medical benefits for group insurance
companies, moved from 17 Hulfish, Suite 280, to 1 Palmer Square, Suite
315. Phone and fax are the same.
Per Blysa, vice president North America. 609-520-1935; fax,
Home page: http://www.telelogic.com.
A division of Saab Combitech Group moved from 116 Village Boulevard
to Rockingham Row. Headquartered in Malmo, Sweden, it markets a
development tool used by such firms as AT&T, Siemens, Ericsson,
Telecom, and Motorola.
South River Park, a new warehouse center at Exit 8A
owned by TrammellCrow, is leasing up. Earlier this fall a Schwinn
bicycle distribution center expanded from South Middlesex Avenue and
a third-party logistics provider moved into 105,505 square feet. The
latter, Con-Way Integrated Services, recently more than doubled its
space to 200,000 feet, with the potential for increasing up to 665,000
feet. (See story, page 8.)
Paul Torosian and Jeffrey Goggins of TrammellCrow represented the
tenants and Gerard J. Keating and Daniel P. Leahy of Hiffman Shaffer
Associates and Kenneth Lundberg of James E. Hanson Inc. represented
Road, South River Road Park, Cranbury 08512. Will Rafter, sales
609-860-5800; fax, 609-860-5955.
South River Road Park, Cranbury 08512. Michael Minnis, logistics
manager. 609-655-1400; fax, 609-409-2770. Home page:
Suite L, Lawrenceville 08648. Stephanie Szewczyk, director of
609-844-0221; fax, 609-844-0251.
A 9,000-foot Nassau Park store that sold wheelchairs and walkers has
closed, ending an unusual effort by a nonprofit — the Medical
Center of Princeton — to own a retail franchise (U.S. 1, November
26, 1996). The Medical Center had partnered with a Long Island-based
firm, Homecare America, to sell durable medical equipment and supplies
— wheelchairs, walkers, oxygen tanks, and first aid kits.
The Medical Center of Princeton made its unusual move to buy a retail
franchise partly because of managed care changes, requiring more
to go home earlier. A spokesperson at that time said it was
piece in the continuum of care."
Now the store has closed and after several name changes a portion
of the business — primarily rental, the part that operated in
the back of the retail store — operates as a phone order business
from 11 Princess Road. The new company, Princeton Medical Equipment,
rents and sells durable medical goods such as walkers, wheelchairs,
Photo-me USA, formerly known as Image Dynamics, closed its office
at 2553 Route 130, and forwarded everything back to the corporate
office in Grand Prairie, Texas, 800-850-1401. A spokesperson for the
company said that management decided to consolidate. The company
automatic photo vending machines.
2, Suite 6, Manalapan 07726. Theresa Randise, managing partner.
fax, 732-446-2449. Home page: http://www.paradise.com.
A half-dozen years ago this was a fast growing software company headed
by John A. Malleo-Roach and Perry Randise (U.S. 1, August 18, 1993).
Now it has moved from 7 Centre Drive in Jamesburg and has a new phone
and fax. The two person firm, headed by Theresa Randise, has a new
mission; it sells and distributes video boards made by Viewcast.com
in North Carolina.
Stephen R. Wilson, president. 973-635-5496.
The combinatorial chemistry firm moved out of the Rutgers incubator
on Jersey Avenue.
The New Jersey office of this firm has closed. Calls for underwriting
should be directed to 301-327-7209. Calls for claims should be
to 909-393-5147. It deals in construction surety bonds.
Sal DeForte’s Ristorante in Trenton.
executive secretary with The Liposome Company on Research Road.
systems operations at the Bristol-Myers Squibb facility on Scudders
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