MTDC looks towards future investments to support
Massachusetts technology industry
Boston, MA, June 4, 2012 – MTDC-backed Cambridge Viscosity (CVI) announced it has been acquired by PAC, a leading global provider of advanced analytical instruments for laboratories and online process applications. The acquisition of CVI will compliment PAC’s wide range of analytical resources for its global customer base.
MTDC has established a track record of successfully funding innovative technology companies in the state to promote job growth and innovation across a broad range of industries. It operates as an “evergreen fund” which uses gains realized from past investments, such as CVI, as the primary source of funds for its operations and future investments.
“MTDC has long supported CVI both financially and with its business expertise. We value their support and long-term commitment to drive the company forward and help grow our business in the state,” states Robert Kasameyer, President of CVI. “With the acquisition, Cambridge Viscosity will continue to advance its technology, products, and services to meet the needs of its customers while capitalizing on PAC’s global reach and technology base.”
“CVI’s strong product offering and leadership team has proven to be a perfect example of the types of businesses MTDC likes to help grow and nurture here in the Commonwealth. The acquisition should provide an excellent opportunity for CVI to build on its momentum and solid customer base,” states Nick Pappas, Vice President, MTDC. “We are excited for the team and look forward to investing our proceeds into other promising early-stage MA technology companies in the near future.”
Massachusetts Technology Development Corporation (MTDC), is a leading edge venture capital firm that addresses the “capital gap” for start-up and expansion of early-stage technology companies operating in the Commonwealth of Massachusetts. MTDC has invested in many of Massachusetts’ most promising new technology-based companies. More information is available at