HAMBRECHT & QUIST VENTURES TAKES CONTROLLING STAKE IN VISUAL TECHNOLOGY

An investment group led by Hambrecht & Quist Venture Partners of San Francisco has taken a controlling interest in Tewkesbury, Massachusetts-based Visual Technology Inc, the display and microcomputer maker that was almost sunk by its Commuter portable Personalike. The group invested about $9.3m in the company by buying new convertible preference shares, and the troubled company’s lenders have agreed to convert another $9m of debt into equity.

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