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Cambridge-based Timbre Acquired by Seatwave 04/09/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, M&A.
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SeatwaveOn April 4th Timbre, an app that helps music fans find live shows, announced it has been acquired by MBBP client Seatwave.  Morse, Barnes-Brown & Pendleton serves as counsel to Seatwave, and advised it in connection with the structuring, negotiation and documentation of this transaction. Joe Martinez and Joshua French were the lead attorneys on this deal.

Read more about it here.

iZotope Named One of SBANE’s 2014 New England Innovation Award Finalists 04/03/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, Events.
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iZotope, Inc.The Smaller Business Association of New England (SBANE) recently announced the finalists of its 2014 New England Innovation Awards, an annual award program that recognizes those companies that are potential game changers in their specific markets. Among the finalists is MBBP client iZotope, Inc., an audio technology company developing professional audio software for audio recording, mixing, broadcast, sound design, and mastering. On April 10th at the Henderson House in Weston, the finalists will have one last chance to present to the judging team before the winner(s) are announced at the 2014 New England Innovation Awards Gala Presentation and Dinner on May 7th.

Congratulations iZotope!

To learn more about the New England Innovation Awards, please visit SBANE.

Hastings Equity Partners Completes Sale of Danlin Industries 04/02/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, Deal News.
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Hastings Equity Partners, LLC

MBBP client Hastings Equity Partners recently announced the sale of Danlin Industries to Arsenal Capital Partners. Danlin provides production chemicals, capillary services and completion chemical solutions to oil & gas exploration and production companies. Morse, Barnes-Brown & Pendleton serves as counsel to Hastings Equity Partners, and advised it in connection with the structuring, negotiation and documentation of this transaction. Shannon Zollo was the lead corporate attorney on MBBP’s team, which also included attorneys Chip Wry, Mark Tarallo, and Jonathan Calla.

Hastings Equity Partners is a Waltham, MA-based, private investment firm that acquires and grows small to mid-sized enterprises.

Please visit Hastings Equity Partners for more information.

Implant Sciences Issues $20 Million Secured Promissory Notes 04/02/2014

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Implant Sciences CorporationOn March 21 MBBP client Implant Sciences Corporation announced it had completed a $20,000,000 refinancing with an accredited New York City-based institutional investor group.  Implant Sciences used the proceeds of the loan to pay down its DMRJ Group LLC line of credit as well as some portions of its other indebtedness to DMRJ. Glenn Bolduc, President and CEO of Implant Sciences, had this to say of the announcement:

We believe our ability to execute this non-convertible debt financing agreement with new lenders is based on the strength of our operations, our market traction in explosives trace detection, and the future potential of Implant Sciences. The loan gives us the flexibility to pay down our DMRJ debt while also providing additional working capital. We are also happy to announce the extension of our loans from DMRJ. DMRJ has been consistently supportive of our Company and has provided us the capital we needed to get to where we are today. We are pleased to continue to work with them.

Implant Sciences is a high technology supplier of systems and sensors for homeland security and defense markets.

Please visit Implant Sciences Corporation for the full press release.

Actifio Secures $100 Million Financing Round 04/01/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, Computer Software & Hardware.
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actifio - Copy Data ManagementOn March 24 MBBP client Actifio announced a $100 million financing round, one of the largest investment deals for a privately held Boston-area technology firm in years. Actifio is an information technology and software company that delivers copy data virtualization to hundreds of global enterprise customers and service provider partners in more than 30 countries around the world. The new funding will be invested in the core IP and new features of its data virtualization platform as well as the continued expansion of Actifio’s market reach and surrounding ecosystem. Ash Ashutosh, CEO of Actifio, was recently quoted in Forbes discussing the financing:

All of last year, the simple focus was in scaling our business. The last three quarters we were figuring out how to scale, and the one factor that was a constraint was speed of time. Now this helps me grow as fast as possible.

Congratulations Actifio!

To learn more about this news, please see full articles in The Boston Globe and Forbes.

Tomo360 to Showcase at Mass Innovation Nights – Vote for them here! 03/25/2014

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Tomo360MBBP client Tomo360 has been selected as one of ten companies to showcase at Mass Innovation Nights on April 9th at the Merrimack Valley Sandbox of Lowell. Only four companies will have the opportunity to present their products. Cast your vote for Tomo360 here!

For more information or to register for the event, please visit Mass Innovation Nights.

Giant Otter Named Finalist in Harvard President’s Challenge 03/14/2014

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Giant Otter TechnologiesOn March 14 MBBP client Giant Otter Technologies was announced as a finalist in the President’s Challenge, a Harvard University competition created to foster cross-disciplinary entrepreneurial ventures that will have profound social impact. Giant Otter is one of ten early-stage, student led teams selected as finalists that will now spend six weeks on an accelerated path to building their ventures, supported by $5,000 in seed money, insight from expert mentors, and resources from the Harvard Innovation Lab will provide. A winner will be selected on May 8th after the teams participate in a “Demo Day” event, where members of the community visit an exhibition and hear the founders explain their ventures and progress.

Giant Otter Technologies creates data-driven role-playing simulations that helps with the stressors of bullying and other conflicts by helping users relate to others in their scholastic or professional settings.

Congratulations Giant Otter!

To learn more, please visit Harvard’s President’s Challenge.

Cambridge Innovation Center to Open Office in Boston 03/14/2014

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Cambridge Innovation Center (CIC)On March 14th MBBP client Cambridge Innovation Center announced its plans to open  a third location. This new facility will be in Boston’s Financial District, giving firms a less expensive space yet more flexibility than traditional office leases. CIC has signed a lease at 50 Milk Street occupying 70,000 square-feet of space across 5 floors with the ability to accommodate nearly 1,200 people . CIC Boston is set to open to the public in phases beginning in late April. MBBP currently utilizes office space in CIC’s original Cambridge location at One Broadway in Kendall Square.

CIC provides offices and shared workspaces to start-ups and small companies offering amenities such as fully stocked kitchens, high-tech conference rooms, Internet, and decent office chairs. CIC has also been reported to serve as the initial launching pad in New England for larger companies such as Adobe, Amazon, Apple, Disney, Facebook, Google and Shell.

Congratulations CIC!

For more information, please view this full article in The Boston Globe.

Audley Travel to Open First U.S. Office in Boston 03/13/2014

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Audley TravelThe Boston Business Journal (BBJ) recently published an article regarding MBBP client Audley Travel, a full-service specialty travel agency based in England. The article highlights Audley’s plans to open its first U.S. office, a 7,000-square-foot space in Boston, aimed at servicing the entire country. Audley CEO, Ian Simkins, believes the firm’s current demands warrant an increase in its US based staff, and has already hired 27 people for the new office with plans of employing 40 by year’s end.

Congratulations Audley Travel!

Please visit the BBJ to read the full article.

Xtalic to Launch New Alloy for use in Electronics 02/28/2014

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Xtalic CorporationThe Boston Business Journal (BBJ) recently published an article on MBBP client Xtalic Corporation, a nanotechnology coatings company based in Marlborough, MA. Xtalic has announced its plans to debut a new metal alloy near the end of the year that may serve as a lower-cost alternative to the use of gold in connectors on computer servers. The initial Xtalic material was made using nickel, however the new material, named Luna, will be made from a new metal alloy for use in both power cords and electronic devices.

Congratulations Xtalic!

Please visit the BBJ to read the full article.

Trends: Top 10 Intellectual Property Developments of 2013 02/10/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, Intellectual Property, Legal Developments, New Resources.
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Top 10 Intellectual Property  Developments of 2013Looking back at 2013, there were many interesting developments in intellectual property. In an effort to keep our contacts and clients up-to-date with the most recent IP law changes and court decisions, MBBP has compiled our Top 10 Intellectual Property Developments of 2013:

  1. AIA Institutes “First Inventor to File” System
  2. Association for Molecular Pathology v. Myriad Genetics
  3. Bowman v. Monsanto
  4. Apple and Samsung
  5. Federal Trade Commission v. Actavis, Inc.
  6. Already, LLC v. Nike, Inc.
  7. Kirtsaeng v. John Wiley & Sons, Inc.
  8. The Authors Guild, Inc. v. Google, Inc.
  9. COPPA Rule Amendments
  10. New Top Level Domain Names

For more information on these developments, please view the full article here.

January 31st, 2014 Deadline for Information Reporting with Respect to Exercised Incentive Stock Options 01/17/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, Taxation.
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Action May Be Required

Corporations, both publicly and privately held, that transferred stock in 2013 pursuant to the exercise of incentive stock options (ISOs) are required to report the transfer to both the IRS and the exercising person.

Form 3921 Exercise of an Incentive Stock option Under Section 422(b) is used for both purposes. Form 3921 requires the corporation to furnish certain information regarding the exercise, including the fair market value of the share of stock on the date the ISO was exercised. Corporations must furnish Form 3921 to the exercising person on or before January 31, 2104 and to the IRS on or before February 28, 2014 (March 31, 2014, if forms are filed electronically). In general, failure to furnish statements in a timely manner, failure to include all required information or the inclusion of incorrect information will result in the imposition of penalties.

Transfers of stock under an employee stock purchase plan (ESPP) are also subject to similar reporting requirements.

Morse, Barnes-Brown & Pendleton would be pleased to assist you in understanding and complying with these ISO and ESPP reporting obligations. Please feel free to contact Robert Finkel or Diana Española with any questions or call 781-622-5930.

 

To ensure compliance with U.S. Treasury Regulations governing tax practice, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

Minimum Wage Increases in 13 States 01/06/2014

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Employment Attorney Bob SheaBy: Bob Shea

Employers in 13 states begin 2014 with higher minimum wage requirements. Now, 21 states have minimum wage rates exceeding the federal minimum wage rate of $7.25 per hour. Here in New England, as of January 1, 2014, Connecticut’s minimum wage rate is $8.70 (and will go to $9.00 on January 1, 2015), Rhode Island’s rate is $8.00, and Vermont’s rate is $8.73. Minimum wage rates in Maine, Massachusetts and New Hampshire remain at $7.50, $8.00, and $7.25, respectively. Also, note New York’s minimum wage rate will go from $8.00 to $8.75 on December 31, 2014 and to $9.00 on December 31, 2015.

Minimum wage increases are also being discussed in several other states, including Massachusetts. Proposed legislation in Massachusetts would increase the minimum wage rate from $8.00 to $11.00 over three years. The minimum wage is also a hot topic on Capitol Hill where Democrats are seeking a significant increase in the federal minimum wage rate, which has been at its current rate of $7.25 per hour since 2009.

For more information on this topic, please contact Bob Shea or any other member of MBBP’s Employment Law Group.

Tomo360 Participating in Merrimack Valley Sandbox Winter Accelerator 12/13/2013

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tomo360MBBP client Tomo360 was recently selected to participate in Merrimack Valley Sandbox’s entrepreneur program as part of its 2014 Winter Accelerator, in which 16 early-stage businesses compete for $30,000 in cash prizes. The Winter Accelerator runs from December to February and allows participants to work with seasoned executive mentors, network with Sandbox community of investors, industry experts and successful entrepreneurs, all while being provided free access to a co-shared working space.

Tomo360 is a full-service marketing consulting company helping business owners and nonprofits with their marketing and online strategies.

Congratulations Tomo360 and good luck!

MBBP Volunteers with Building Impact 11/19/2013

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Building Impact and MBBPOn Thursday, November 7th MBBP partnered with Building Impact  on an in-office event. MBBP volunteers participated in creating no-sew fleece blankets which were donated to local homeless shelters.

MBBP looks forward to working with Building Impact on more volunteer programs in the future!

Building Impact is a non-profit focusing on providing individuals and companies with the knowledge and opportunity to volunteer, donate, and connect in the buildings where they work or live. To learn more or to participate in your own event, please visit their website.

Ipsen to Move U.S. Research Center to Cambridge 10/29/2013

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Ipsen, Inc.On September 26, MBBP client Ipsen, Inc., a French drug company, announced that its U.S. research center is moving into a new 62,600-square-foot space in Cambridge, Massachusetts.  The move will be a big change from being in the suburbs, where Ipsen has been headquartered for more than 35 years. The new space will be about 50 percent bigger than the 43,000-square-foot building it occupied in Milford, Massachusetts.  Ipsen, which has 4,900 employees worldwide, specializes in drugs for life threatening diseases including oncology, endocrinology and neuromuscular disorders.

Congratulations Ipsen!

Implant Sciences Receives STAC Certification for QS-B220 Explosives Trace Detector 10/02/2013

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Implant Sciences CorporationOn October 1, MBBP client Implant Sciences Corporation announced that the Service Technique de l’Aviation Civile (STAC) of France has certified QS-B220 desktop explosives trace detector (ETD). The QS-B220 is now available for purchase and deployment to screen passengers, cargo, cabins, and baggage for explosives in airports throughout France. Implant Sciences CEO, Glenn Bolduc, had this to say of the news:

This is a very significant achievement and milestone for Implant Sciences. STAC is a highly respected certification organization, and becoming certified opens the large French aviation market to us…This is another step in our journey towards increasing our global market share and further establishing Implant Sciences as one of the major ETD manufacturers in the world.

Congratulations Implant Sciences!

For more information, please see the full press release.

Giant Otter Co-Founders Interviewed by NECN 10/02/2013

Posted by Morse, Barnes-Brown Pendleton in Client News, Games & Interactive Entertainment.
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Giant Otter TechnologiesOn September 6, New England Cable News (NECN) interviewed MBBP client Giant Otter Technologies, a start-up that builds simulations to teach social and communication skills using crowdsourced artificial intelligence. Giant Otter is a finalist for MassChallenge, a four month accelerator program, and is in the running to receive the $100,000 grand prize. NECN interviewed Giant Otter co-founders Geoff Marietta and Dr. Jeff Orkin on MassChallenge and their lead product, School Life.
Click the image below to watch the full interview:

GiantOtter video

Aveksa Acquired by EMC Corporation 09/12/2013

Posted by Morse, Barnes-Brown Pendleton in Client News, Deal News.
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AveksaMBBP client Aveksa, a provider of the industry’s leading business-driven Identity and Access Management (IAM) platform used by organizations worldwide to address operational, risk and compliance challenges originating from user access, has been acquired by EMC Corporation, a global leader in enabling businesses and service providers to transform their operations and deliver information technology as a service.

MBBP served as counsel to Aveksa and advised it in connection with the structuring, negotiation and documentation of this transaction.

For more information, please visit MBBP.

Bridgeline Digital Acquires Elements Local 09/12/2013

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Bridgeline DigitalMBBP client Bridgeline Digital, a developer of leading edge web application management software and award-winning interactive technology solutions that help organizations optimize business processes, has acquired  ElementsLocal, an interactive and Internet marketing agency offering online marketing services for mid-market and franchise companies

MBBP serves as counsel to Bridgeline Digital and advised it in connection with the structuring, negotiation and documentation of this transaction.

For more information, please visit MBBP.

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