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Cablevision to be acquired by Dutch telecom

Cablevision has agreed to be acquired by Netherlands-based telecom company Altice in a deal valued at $17.7 billion, or about $35 per share. The deal, which must be approved by regulators, will create the fourth largest U.S. cable operator. It is expected to close in the first quarter of 2016 and will be financed by a combination of a $14.5 billion share issue, $3.3 billion in cash and Cablevision cash on hand. Altice entered the…


Bringing some heat to local investing

By GREGORY ZELLER // Long Island still has a ways to go before it rivals Silicon Valley or Boston’s Route 128 as an investment hotbed. But the science is here, and according to many insiders, so is the money. And now, Island investors find themselves awash in something they’ve never experienced before: competition. Suddenly, there are multiple seed-money organizations throwing money at Island-based startups. The Long Island Angel Network, Angel Dough Ventures, the Long Island…


3 digital firms added to Start-Up NY program

Thirty new Long Island jobs are on tap via three new Start-Up NY companies announced Wednesday by Gov. Andrew Cuomo. All told, Cuomo announced 15 new businesses that plan to locate or expand in New York State specifically to take advantage of Start-Up NY, which establishes tax-free zones around colleges and universities around the state. The 15 businesses, which bring the total number of statewide program participants to 143, have committed to create at least…


SBU lands $20M for energy, biotech centers

Two Empire State Development awards totaling $20 million will propel Stony Brook University into the future of biotech and energy efficiency. The first award, totaling $10 million over 10 years, will be used to create a new Center for Advanced Technology in Integrated Electric Energy Systems. The second, also for $10 million over 10 years, will support SBU’s existing Center for Biotechnology. Both awards come through NYSTAR, the state economic development agency’s science, technology and…


Tech plays center stage in latest funding contest

With visions of a thriving innovation economy front and center, Long Island business and academic leaders are shooting for $105 million in commercialization funds through the annual Regional Economic Development Council competition. The Long Island council, comprised of more than 20 businesspeople and academicians appointed by Gov. Andrew Cuomo, pored over 254 applications from Nassau and Suffolk companies, governments and nonprofits – the highest number of applications since the contest launched on 2011 – to determine…


Farm preservation, defense, marketing programs land state funding

Peconic Land Trust, a not for profit dedicated to conserving Long Island’s working farms and undeveloped land was awarded $1 million in state money to kick off an agricultural equipment grant program. The funding, part of more than $16 million announced by the state on Monday, will go to assist farmers willing to make capital investments in their farming operations, with awards capped at $25,000. The program was developed in cooperation with the Long Island Farm…


Applied DNA acquires W. Virginia firm

Applied DNA Sciences, which uses DNA to authenticate a growing array of products and materials that range from currency to wine, has acquired the assets of West Virginia-based Vandalia Research for $1.5 million in cash. Vandalia’s core technology allows for the large-scale production of specific DNA sequences using what’s known as the polymerase chain reaction, or PCR. PCR can amplify tiny pieces of DNA, generating billions of copies without the impurities of fermentation. The deal includes 10 devices used…


The Debrief: Dave Hamilton, clean energy guy

October will mark four years at Stony Brook University’s Clean Energy Business Incubator Program for Dave Hamilton, who in July moved up to executive director after three years as head of CEBIP’s business development. A former commercial account manager at Island Park’s EmPower Solar, among several other energy-related gigs, Hamilton packs a BS in electrical and computer engineering from Clarkson University and an MBA in marketing from Hofstra University, plus a from-the-trenches view of regional…


North Shore-LIJ to rebrand as Northwell Health

The North Shore-LIJ Health System made it official Monday, announcing a major rebranding effort that starts with a new name for New York State’s largest employer. As first reported by Innovate LI, the board of trustees of the iconic 21-hospital system is rechristening the system Northwell Health, a moniker that reflects the past and serves as a “beacon of our future,” according to President and CEO Michael Dowling. “It’s unique, simple and approachable,” Dowling said…


Suffolk in line for $388M sewer project

Consider it a silver lining to some of Long Island’s darkest clouds. In what’s being proffered as a response to the historic flooding caused by Hurricane Sandy, $388 million in state and federal funds will flow into Suffolk County to expand sanitary service to over 8,000 parcels of land currently utilizing on-site septic systems. The coastal resiliency initiative, approved by FEMA’s Hazard Mitigation Grant Program, is a major victory for lawmakers and activists who have…


DiNapoli: Sloppy controls at Upstate IDAs

NY Comptroller Tom DiNapoli is keeping the heat on industrial development agencies around the state, this time with audits that suggest poor followups on approved projects in upstate Niagara, Tompkins and Wyoming counties. “When taxpayers and communities are helping to incentivize and assist local economic development efforts, there must be proper accountability,” DiNapoli said in releasing the audits. “IDAs are leveraging tax breaks in exchange for long-term jobs and future revenue for their communities, but without…


It’s always Friday for some LI microbrews

By GREGORY ZELLER // Long Islanders who appreciate small-batch craft beers can now find them on tap in the mothership of large-scale commercialization: TGI Fridays. In addition to stalwart suds like Budweiser and Coors, the Texas-based restaurant chain is now serving microbrews at several Long Island locations, part of a larger corporate effort to capitalize on the increasing popularity of regional craft beverages. While it includes beers from several Northeast locales – including the fall-flavored…


On LI, being young is a moving experience

By JOHN KOMINICKI // A lot of young Long Islanders complain about not having a cool place to live, but my twentysomething daughter is not one of them. She already has a cool place: Her bedroom in my house. She thought it was cool when she was 12, anyway. I’ll try to get an update the next time she emerges. (My wife and I haven’t dared go in there since 1999.) There are, in truth, many…


Teq lands Audio Enhancement deal

Huntington classroom-technology producer Teq has landed another lucrative distribution deal, this time as the exclusive New York provider for Audio Enhancement’s award-winning line school-audio products. It’s the latest classroom coup for Teq, which in August became the exclusive New York provider of software and hardware for Canadian tech firm SMART Education Solutions. As with the SMART deal, Teq will be the exclusive distributor of Audio Enhancement products to all public K-12 districts in New York…


SBU leads latest college ranking

Long Island certainly didn’t flunk out of U.S. News & World Report’s annual college rankings, though collectively, you’d have to give the Island a B grade at best. Those more intimately familiar with the world-class science, impressive graduation rates and regional economic benefits of the Island’s college and university system might question a database in which Long Island’s most notable achievement was Stony Brook University’s ranking as the nation’s 37th best public university. But U.S….