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Washington Tech News Wrap-Up: Human Genome Translated, Funding Deals Abound

Strategic Insights

— 2 min read

President Clinton unveiled the decoded human genome, while several technology companies in the Washington region announced new funding deals and partnerships. A new government Web portal, FirstGov, was also announced, aiming to provide a central website for all federal agencies.

Key Takeaways:

  • The human genome has been translated, with 98% mapped and 85% sequenced, according to President Clinton and representatives from the Human Genome Project and Celera Genomics Group.
  • NetASPx acquired its eighth concern in eight months, expanding its application service provider (ASP) offerings.
  • European regulators are unlikely to approve mergers between US giants, such as AOL and Time Warner, due to competition concerns.
  • Com21 acquired BitCom for $4 million, expanding its engineering consulting capabilities.
  • Lightspan closed its buyout of Edutest, a provider of educational testing and assessment products.
  • BroadSoft secured $23 million in venture capital, expecting to double in size by the end of the year.
  • YellowBrix secured $20 million in venture capital, expanding its business-to-business infrastructure offerings.
  • PenguinRadio and Internet Partnership Group partnered to develop new Internet radio and audio services.
  • Strategy.com launched a text-based instant messaging service, allowing users to communicate via wireless phones.
  • A new government Web portal, FirstGov, was announced, aiming to provide a central website for all federal agencies.
  • A team led by Computer Sciences Corp. is seeking a $5 billion contract from the National Security Agency to outsource its information technology infrastructure.
  • A plan to sell off registered but unpaid-for Internet addresses has resuscitated tensions between Network Solutions and Register.com.
  • SAIC will lead Maryland's efforts in implementing a Web-based procurement system, dubbed eMaryland Marketplace.
  • The University of Maryland, Baltimore County's new technology research park was unveiled, with a new facility and partnership with RWD Technologies.
  • Several local companies, including Metrocall, Global One, and telezoo.com, announced new partnerships and alliances.

Statistics:

  • 98% of the human genome has been mapped.
  • 85% of the human genome has been sequenced.
  • $23 million: the amount of venture capital secured by BroadSoft.
  • $20 million: the amount of venture capital secured by YellowBrix.
  • $4 million: the price of Com21's acquisition of BitCom.
  • $5 billion: the expected value of the National Security Agency's outsourcing contract.
  • 41 acres: the size of the University of Maryland, Baltimore County's new technology research park.
  • 42,000 square feet: the size of the Applied Technology Laboratory.
  • 71,000 square feet: the size of the multi-tenant building.

Sources:

  • Washtech.com, "Human Genome Finally Translated" (2000)
  • Washtech.com, "NetASPx Acquires Eighth Concern in Eight Months" (2000)
  • Washtech.com, "Don't Expect EU to Rubber-Stamp AOL/Time Warner Merger - Official" (2000)
  • Washtech.com, "Com21 Buys BitCom for $4Mil" (2000)
  • Washtech.com, "Lightspan Closes Edutest Buyout" (2000)
  • Washtech.com, "BroadSoft Gets $23Mil in VC Delivered" (2000)
  • Washtech.com, "YellowBrix Secures $20Mil in Green Business-to-business infrastructure provider" (2000)
  • Washtech.com, "PenguinRadio Gets Financing from New District Incubator" (2000)
  • Washtech.com, "Strategy.com Enters Wireless IM Fray" (2000)
  • Washtech.com, "Clinton Calls for Quick Work on Gov't Portal" (2000)
  • Washtech.com, "CSC-Led Team Seeks $5 Billion NSA Contract" (2000)
  • Washtech.com, "Fledgling Registrar Complains About Domain Name Auction" (2000)
  • Washtech.com, "SAIC Leads Maryland into Web-Based Procurement" (2000)
  • Washtech.com, "U. of Md. Tech Research Park Gets Plans, New Name" (2000)

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