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CII Invests in High-Tech Color
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Business New Haven
2/7/2000
By: BNH
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ROCKY HILL - Connecticut Innovations Inc. (CII) announced last month that it would invest $500,000 in Accent Color Sciences Inc. of East Hartford. The investment is part of $4.5 million of private equity financing recently completed by the company. Accent Color Sciences designs, manufactures and sells innovative, high-speed, highlight color printing systems for integration with digital, high-speed monochrome printers. The company's products are used in printing systems produced and marketed by IBM and Xerox Corp.
ACS' technology allows end-users to highlight variable information in color on transactional documents such as statements, invoices and account summaries. ACS president and CEO Charles Buchheit says the recent financing round will enable ACS to continue to refine its products and reduce costs in preparation for the anticipated resurgence of the market early this year. The financing will also provide a bridge for ACS to make the transition from a development to an operational company.
Of the CII investment, Buchheit says: “It speaks well of this state that it provides the financial wherewithal to assist companies such as ours. Connecticut Innovations' decision to invest certainly encouraged other investors to participate. What's more, Connecticut Innovations isn't just a financial resource. They bring with them a wide range of resources and advisory capabilities to help their portfolio companies succeed.”
CII is the state's leading investor in high technology, making risk-capital investments in high-tech companies statewide. It manages several funds designed to foster the development of high-technology industries in Connecticut.
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