In other items: Eden Bioscience said yesterday it has avoided being delisted from the Nasdaq Stock Market; Jobster said yesterday that it raised $8 million in a first round of funding; Blockbuster, the nation's largest movie-rental chain, has inched closer to a bidding war for Hollywood Entertainment.
Boeing has picked Seattle-based Korry Electronics, which designs and manufactures illuminated cockpit display and control interfaces, to supply the overhead instrument-panel system for the flight deck of the new 7E7.
Korry, a subsidiary of Esterline Technologies in Bellevue, employs about 530 people in South Lake Union.
Korry will be the primary integrator for the system, responsible for design, manufacture and management of sub-tier partners.
“This is the first time that we will supply Boeing with a complete system on a tier-1 basis,” said Esterline CEO Robert Cremin.
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The contract, valid through 2021, is worth $69,000 per airplane, a company spokeswoman said.
Eden Bioscience delisting avoided, thanks to stock price
Eden Bioscience said yesterday it has avoided being delisted from the Nasdaq Stock Market, because its stock price has closed above the $1 minimum price for 10 consecutive trading days. The company said it is now back in compliance with Nasdaq listing rules.
The Bothell-based company, which makes products to boost crop yields, was warned in August that it was in jeopardy of being delisted because its stock fell below $1 for 30 straight days. The company had until Jan. 26 to comply with the rules.
Eden’s stock closed up 5 cents at $1.21 yesterday, giving it a market value of $29.5 million.
Jobster raises $8 million in venture funding
Jobster, a Seattle company developing an online recruiting service, said yesterday that it raised $8 million in a first round of funding from Trinity Ventures and Ignition Partners.
Jobster, designed for recruiters in large companies, helps companies tap into their employees’ extended network to gain qualified referrals. The service will launch in the spring.
Jobster has raised a total of $10.5 million since it was founded in February 2004.
Patricia Nakache, principal at Trinity Ventures, will join Jobster’s board of directors, which includes Jon Anderson and Michelle Goldberg of Ignition; Jason Goldberg, Jobster’s chief Jobster and founder; and Phil Bogle, Jobster’s chief technology Jobster and co-founder.
Blockbuster mulls new offer for Hollywood Entertainment
Blockbuster, the nation’s largest movie-rental chain, inched closer to a bidding war for Wilsonville, Ore.-based Hollywood Entertainment, saying it is still interested in buying its smaller rival despite Hollywood’s agreement to be purchased by another competitor, Movie Gallery.
John Antioco, Blockbuster chairman and chief executive, said yesterday that his Dallas-based company was evaluating making a new offer, although he gave no specifics.
Antioco said in a statement he was disappointed that a special committee of Hollywood’s board accepted an $850 million offer from Movie Gallery “without giving Blockbuster a fair opportunity to participate in the auction process.”
Compiled from Seattle Times business staff and The Associated Press