NEW YORK and ERFURT, Germany, December 11, 2012 /PRNewswire/ -- Q-Sensei Corp., the next-generation search technology company, announced today that it has secured new investment funding led by Verizon Ventures, a strategic venture capital subsidiary of Verizon Communications, and that includes follow-on funding from bm-t beteiligungsmanagement Thüringen GmbH, the private equity and venture capital arm of Germany's Thüringer Aufbaubank, and certain private angel investors. Also, Richard N. Nottenburg, PhD, an accomplished technology and communications executive, joined Q-Sensei's board. Dr. Nottenburg, former CEO of Sonus Networks and Chief Strategy officer of Motorola Solutions, Inc. (NYSE:MSI) (formerly known as Motorola, Inc., "Motorola"), currently serves as a member of the board of directors of Aeroflex Holding Corp. (NYSE:ARX) and PMC-Sierra, Inc. (NASDAQ:PMCS). "We are setting forth on a new stage of growth and development and we are excited to have the strategic backing of Verizon Ventures," said Ute Rother, CEO of Q-Sensei. "Also, Dr. Nottenburg's broad expertise in guiding innovative technology companies and his depth of influence across multiple industries strengthen our plans to address businesses' information-search needs in numerous sectors." "We, at Verizon Ventures, continually seek to invest in promising companies whose technologies complement Verizon's networks, service platforms and distribution channels," said Mark Smith, Executive Director of Verizon Ventures. "We look forward to working with Q-Sensei, whose award-winning enterprise platform is changing not only the way people search for information for better decision-making but also the way businesses develop search-based applications to leverage the wealth of data for various business scenarios." "The next frontier in technology will be harnessing the value of Big Data and Q-Sensei's enterprise platform for search, discovery and analytics applies to a variety of industries from communications to healthcare and finance," said Dr. Nottenburg. "I am excited to join the board and help Q-Sensei."
Aeroflex (ARX) surged more than 25% to a one-year high of $10.47 on Tuesday after British aerospace and defense supplier Cobham announced it would purchase the U.S. communications equipment manufacturer for $920 million.
Acquisitive U.K. aerospace company Cobham on Tuesday agreed to buy Plainview, N.Y-based Aeroflex Holding for $1.5 billion in cash and debt to further expand its communications business and offer new markets for the target's products.
Shares of Aeroflex Holding (ARX) are up over 24% in pre-market trade after it was announced that the wireless communications firm entered into a merger agreement with U.K.-listed Cobham in a deal valued at $920 million.