WRAL Tech Wire

Venture Profile: Just as Its Name Indicates, Seraphim Partners Focuses on Angel Investments

Atlanta firm interested in wireless, multimedia, network software firms in and around Atlanta. Investments can reach $300,000.

Triangle Company Provides Ready-Made Engineering Teams to Software Developers

TapRoot Systems matches its hand-picked teams to its big-time clients to provide outsourced development of embedded systems, knowledge and follow-up.

BellSouth To Lay Off 5,000 Employees - Nearly 6 Percent of Workforce

Baby Bell laid off 3,000 more in October. Company, citing sluggish economy and increased competition, says cuts to hit management and line employees.

LIPSinc Shuffles Top Management; CEO and COO Are Out

CEO Michael Zapata, COO Larry Creglow leave following board mandate for new leadership. Several other employees are laid off, too. But new CEO says: 'There is enough money to move the company forward.'

TogetherSoft's Streamlining Includes Three Changes in Senior Management

Among those no longer with the Raleigh company are its COO, chief counsel and VP of marketing, who's already been replaced.

Hatteras Searching for $40 Million in Revived Networking Drive

Hatteras Networks, formed two years ago, has yet to make a sale or to generate any revenue. But analysts see a market for its developing Ethernet equipment.

Hatteras Networks Releases New Product Designed to End Last-Mile Bottleneck

Internet Security Systems a Bit Battered But Weathering the Tech Storm

One of the original companies of the Atlanta technology boom, ISS has outlasted many of the crashed-and-burned dot-coms. High-profile ad campaign touts image and services.

Paradigm Shifts Focus With Reorganization, More Layoffs

Workforce cut in half since December. John Hamer, who replaced the ousted John Ryals as CEO, says changes will boost company. Analyst sees changes as positive.

Paradigm Cuts 20 Percent of Workforce in Restructuring

Biotech firm's stock rallies a bit but is still one-third its value at end of 2001.

MCI WorldCom Layoffs Hit Home in Cary; At Least 30 Web Developers Laid Off

More layoffs are expected in two weeks as communications giant cuts 3,700 jobs company wide. Statewide, layoffs hit 100. MCI move is more bad news for Triangle's battered telecom workforce.

NetBank Acquires Resource Bancshares Mortgage Group for Undisclosed Sum

Company officials say the acquisition gives NetBank $3.6 billion in assets, makes company one of top 20 national mortgage brokers.

Shakeup at 3TEX: Founder is Back, and New CEO Takes Control

Plagued by slow sales and burning cash, 3TEX board replaces CEO and persuades founder, Dr. Mansour Mohamed, to come out of his brief retirement. 'We've had problems getting from a research and development company to a commercial company,' new CEO say

Workforce Already Slashed, Madison River Now Scrambling for $35 Million

CEO Steve Vanderwoude says the telephone service company is talking with investors but declines to reveal more. Money needed to make payment toward acquisition. Company also discloses 140 of its workers have been laid off.

US LEC Exec Believes His Company Is 'on the Strong Road to Success'

After the devastation of 2001 in the telecom business, Aaron Cowell takes steps to demonstrate US LEC is different from CLECs that tanked. 'We continue to improve our bottom line,' he says.