Colin C. Haley

It’s been a bad couple of days for Massachusetts data storage companies. Yesterday, EMC waxed pessimistic about the economy. And today, StorageNetworks cut estimates and said it will lay off 220 because of lagging orders. The job cuts, which represent 32 percent of the Waltham company’s staff. Most of those who will lose their jobs […]

In recent quarters, EMC has been downright Reaganesque. Despite the chaos around it, the data storage giant exuded confidence about the future and the company’s role in it. But that optimism faded, at least a little today, as the Hopkinton, Mass., company posted second quarter earnings 75 percent below the same period last year, and […]

A majority of Cambridge Technology Partners shareholders approved a merger with Novell , triggering the combination of offerings and executive teams. About 60 percent of Cambridge shareholders blessed the marriage of the two companies, who have suffered in recent quarters as cash-strapped companies spend less on software and services. Under the terms of the deal, […]

Storability has raised $30 million in second-round financing to help bring to market new products, signalling that investors believe data storage will be a high-growth area despite the current IT spending slide. Technology Partners and Sprout Group were lead backers. Lee Munder Venture Partners and repeat funders Battery Ventures, Madison Dearborn and Lightspeed Venture Partners […]

SupplyWorks, a Bedford, Mass., a maker of Web-based software for the manufacturing industry, has raised $19.2 million in financing for sales, marketing and product development. The round was led by new investor Longworth Venture Partners. Also participating were North Bridge Venture Partners and Atlas Venture, and Spinner Global Technology Fund. In all, SupplyWorks has raised […]

Engage , an Andover, Mass., online advertising firm, has signed a reseller deal with EyeWonder, an Atlanta streaming video specialist. The companies hope to give traditional marketers in the automotive, retail, consumer packed goods and entertainment industries an alternative to television ads. “With EyeWonder’s superior streaming technology and Engage’s audience reach, tracking and targeting capability, […]

Polaroid will cut approximately 2,000 jobs, 25 percent of its workforce, over the next 18 months to stay competitive in nascent digital photography industry. The move should save the Cambridge, Mass., company between $175 million and $200 million annually by the end of 2003. Polaroid will take charges of between $150 million and $175 million […]

As economic conditions temper the urgent need for space, EMC will take its time deciding how to proceed with plans for a 1-million-square-foot office complex in Bellingham, Mass. Zoning officials previously rejected the far-reaching proposal, which includes soccer field and running track, citing concerns about building height and earth removal. EMC, based in nearby Hopkinton, […]

Putting its sizable market capitalization to work, Genuity , a Woburn, Mass., network services giant, has offered to buy Integra, a Paris Web and application host, for $106 million in stock. Under terms of the deal, which has been endorsed by directors of both companies, Integra investors will receive 0.75 Genuity shares for each share […]

Surebridge, a Lexington, Mass., application service provider (ASP), has raised $15 million in venture capital and secured a $5 million credit line. The money will be used for equipment purchases and sales and marketing. Axxon Capital, The Berkshire Group, Compaq Computer Corporation, Providence Growth Investors, Spectrum Equity Investors, The Goldman Sachs Group, and a group […]

EMC , the Hopkinton, Mass., data storage giant, will lay off 1,100 workers, about 4 percent of its workforce, as part of a cost-cutting program that also includes delaying facilities expansion projects and reducing contractor and travel expenses. Hardest hit will be certain field operations, corporate support staff and positions associated with the phased-out server […]