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Hamilton, NJ-based billing system vendor Billtrust received a $25 million investment
from Bain Capital Ventures.
Avantor, the Center Valley, PA specialty chemical manufacturer run by former Rohm & Haas CEO Raj Gupta and owned by New Mountain Capital, filed suit in the US District Court for the District of New Jersey against IBM, claiming it botched a SAP ERP implementation at Avantor and used what it asserts was inappropriate off-the shelf IBM software. Avantor claims "tens of millions" of damages resulted. SAP was not named in the suit.
American City Buiness Journals, publisher of the Philadelphia Business Journal and similar titles in other cities, announced it had acquired Streetwise Media, which publishes online websites covering tech and other local news in Boston and DC. Radnor-based TL Ventures was an investor in Streetwise.
In news from other sources, reports persist that Arris is a possible buyer of Horsham-based Motorola Home, and one unverified analyst report suggested that Arris technology would be used in a new Apple TV product, and that Comcast might be testing the potential impact of an Apple TV offering on its internet network. The Inquirer's Bob Fernandez noted how rising sports broadcasting rights fees are increasingly driving the price of cable TV subscriptions. And Comcast's NBCU was reported to be cutting about 450 jobs across its different units.
Michael Dell discussed the important role Dell Boomi plays in Dell's emerging software strategy. SAP is adding features to its HANA in-memory platform that will bring it closer to its goal of hosting ERP applications on HANA.