Category / Front-page news

by Krystle K.

Former Natural Convergence customer moves to delay sale

By KRYSTLE CHOW
Published on the front page of the Ottawa Business Journal and on its website.
Sept. 8, 2009

Click here to view this article on OttawaBusinessJournal.com.

Sources say NCI’s last days included layoff announcement during forced vacation

A local former customer of insolvent telecom firm Natural Convergence Inc. has filed a notice of appeal to block the sale of NCI’s assets to Broadview Networks, according to receivership documents obtained by OBJ.

While there were no details as to the reasons for the notice of appeal, the first report of the receiver, PricewaterhouseCoopers, showed Ottawa-based BluArc Communications Inc. has asked that the receiving and vesting orders related to NCI’s sale of its flagship Silhouette voice-over-Internet protocol technology be stayed Continue reading →

by Krystle K.

Allen-Vanguard deal could hit headwind

By KRYSTLE CHOW
Published on the front page of the Ottawa Business Journal and on its website.
Feb. 2, 2009

Click here to view this article on OttawaBusinessJournal.com.

Defence company’s future rests in hands of Tailwind shareholders

Defence company Allen-Vanguard could see some of its debt woes eased with a proposed $40-million takeover by a U.S. buyout firm, but analysts say the transaction is far from a done deal.

Allen-Vanguard announced last week it had agreed to merge with Delaware-based special purpose acquisition firm Tailwind Financial Inc., a deal which would allow the bomb-jammer and blast suit maker to recapitalize. Tailwind said it will offer 0.046493 of a common share for every Allen-Vanguard share, pricing the latter at almost double their current market value. At the same time, Allen-Vanguard will carry out a shareholder rights offering that could raise as much as $100 million.

The new company is to be known as Allen Vanguard Corp. Continue reading →

by Krystle K.

Double play for Rapids: Baseball club to change hands

By KRYSTLE CHOW
Published on the front page of the Ottawa Business Journal and on its website.
April 28, 2008

Click here to view this article on OttawaBusinessJournal.com.

Dot-com businessmen Rick Anderson and Rob Hall are expected to announce this week that they will buy Ottawa’s new professional baseball club.

The purchase precedes the Ottawa Rapids’ first exhibition game against the New Jersey Jackals on May 22.

Mr. Anderson, of Zip.ca, did not directly confirm the acquisition when the OBJ contacted him on April 24, but said: “The first time we met with Miles (Wolff, the Can-Am League commissioner) and he talked about bringing Can-Am back, we immediately told him Continue reading →

by Krystle K.

Festival picking up pieces after Nortel rocks the Dragon Boat

By KRYSTLE CHOW
Published on the front page of the Ottawa Business Journal.
July 2, 2007

Click here to view this article on OttawaBusinessJournal.com.

John Brooman, executive director of the Ottawa Dragon Boat Race Festival.
John Brooman, executive director of the Ottawa Dragon Boat Race Festival.
Photo by DARREN BROWN for the Ottawa Business Journal

John Brooman is picking up more than just cigarette butts and litter after the most successful Ottawa Dragon Boat Race Festival ever.

Mr. Brooman, the festival’s executive director, is now faced with the challenge of finding a new title sponsor for the event after Nortel Networks stepped down from the role last week.

“It’s a bittersweet thing for me… but I think it’s a good thing. It allows us to roam more and it doesn’t scare us in any shape or form,” Mr. Brooman says. “We’re fortunate because the festival is so well-run and fiscally managed that this can be absorbed.”

Mr. Brooman says the festival’s organizers are just now looking at approaching its other current sponsors to take over as title sponsor for 2008, with the Business Development Bank of Canada at the top of the list. Other top choices include the Ottawa Citizen, Dell and Tim Hortons.

Nortel was the event’s title sponsor for nine years, a way for the company and employees to be involved in the community and support worthwhile causes while also achieving some positive branding, a company spokesperson says.

This year. the telecommunications giant contributed Continue reading →