Velti plc (NASDAQ: VELT) is a leading global provider of mobile marketing and advertising technology and solutions that enable brands, advertising agencies, mobile operators and media to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. The Velti platform, called Velti mGageTM, allows customers to use mobile and traditional media to reach targeted consumers, engage the consumer through the mobile Internet and applications, convert them into customers and continue to actively manage the relationship through the mobile channel.

Velti plc raised $172.4 million in its follow-on offering at $15.25 per share. Needham acted as lead manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,474,275 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Velti plc to repay all of the outstanding principal, accrued interest and prepayment penalties associated with the Black Sea Trade and Development Bank term loan in the approximate amount of $22.0 million. The company may also use a portion of the net proceeds to fund outstanding payments related to our September 2010 acquisition of Mobclix, general corporate purposes and working capital including funding our strategic plan for global expansion and making further investments in our technology solutions. This is the second transaction that Needham has completed for Velti plc since January 2011.

Rambus, Inc. (NYSE: RMBS) is one of the world's premier technology licensing companies. As a company of inventors, Rambus focuses on the development of technologies that enrich the end-user experience of electronic systems. Its breakthrough innovations and solutions help industry-leading companies bring superior products to market. Rambus licenses both its world-class patent portfolio, as well as its family of leadership and industry-standard solutions. Headquartered in Sunnyvale, California, Rambus has regional offices in North Carolina, Ohio, India, Germany, Japan, Korea, and Taiwan.

Needham & Company acted as financial advisor to Rambus, Inc. in its acquisition of Cryptography Research, Inc. that was completed for an aggregate of $342.5 million comprised of $167.5 million in cash, approximately 6.4 million shares of Rambus stock, and $50 million payable to CRI employees in cash or stock over three years. Needham & Company provided a fairness opinion to Rambus, Inc.’s Board of Directors as part of its services. This acquisition will expand the breadth of Rambus' breakthrough technologies available for licensing with complementary technologies from CRI that include patented innovations and solutions for content protection, network security, anti-counterfeiting and financial services. Combined with the company’s complementary semiconductor, and lighting and display technologies, Rambus will create an unrivaled set of innovations and solutions critical for a broad range of electronics, with particular focus on the fast growing mobile market.

SiPort, Inc. operates as a fabless semiconductor company. It offers SP1010 Terrestrial Digital Broadcast Receiver, an integrated CMOS tuner and baseband chip that enables digital radio and digital data services from terrestrial broadcasts on mobile platforms, such as personal navigation devices and MP3 players, portable and tabletop radios, automotive navigation, home audio systems, and home entertainment systems. SiPort Inc. was founded in 2004 and is based in Santa Clara, California. As of May 25, 2011, SiPort, Inc. operates as a subsidiary of Intel Corporation.

Needham & Company acted as financial advisor to SiPort, Inc. in its sale to Intel Corporation. The terms of the deal were not disclosed. Needham & Company acted as the exclusive financial advisor to SiPort, Inc. in this transaction. This acquisition will complement existing Intel Corporation efforts and will likely allow for the SiPort IP to find its way into more integrated solutions - which will increase the ease of including HD Radio into all the devices Intel already uses. In the vast scheme of things, a radio receiver is a small bit of silicon and with smaller electronics depending on higher levels of integration it is more economical to put it together with larger silicon.

Orbotech Ltd. (NASDAQ: ORBK) has been at the cutting edge of the electronics industry supply chain, as an innovator of enabling technologies used in the manufacture of the world's most sophisticated consumer and industrial products, for over 30 years. The Company is a leading provider of yield-enhancing and production solutions, primarily for manufacturers of printed circuit boards and flat panel displays; and today, virtually every electronic device is produced using Orbotech technology. The Company also applies its core expertise and resources in other advanced technology areas, including character recognition for check and forms processing and solar photovoltaic manufacturing. Headquartered in Israel and operating from multiple locations internationally, Orbotech's highly talented and inter-disciplinary professionals design, manufacture, sell and service the Company's end-to-end portfolio of solutions for the benefit of customers the world over.

Orbotech Ltd. raised $96.3 million in its follow-on offering at $12.50 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,005,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Orbotech Ltd. for general corporate purposes.

CoStar Group, Inc. (NASDAQ: CSGP) is commercial real estate's leading provider of information and analytic services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Their suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 1,500 worldwide, including the industry's largest professional research organization.

CoStar Group, Inc. raised $258.8 million in its follow-on offering at $60.0 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 562,500 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by CoStar Group, Inc. to fund a portion of the cash consideration payable in connection with its acquisition of LoopNet, Inc. and, to the extent that any proceeds remain thereafter, or the acquisition is not completed, for general corporate purposes. The offering was not conditioned on the closing of the LoopNet acquisition.

Targacept, Inc. (NASDAQ: TRGT) is a biopharmaceutical company engaged in the design, discovery and development of NNR Therapeutics™ for the treatment of diseases and disorders of the nervous system.

Targacept, Inc. raised $86.2 million in its follow-on offering at $20.50 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 548,780 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Targacept, Inc. to develop TC-5619 and other clinical-stage product candidates further, to advance research and development programs, and for working capital & other general corporate purposes.

ProStor Systems, Inc. provides industry-leading solutions for the cost-effective, long-term storage of digital information. ProStor InfiniVault® integrates information management software, online disk, and RDX removable disk to simplify retention management while automating disaster protection and regulatory compliance. InfiniVault provides fast, reliable retrieval of information from a choice of local online, nearline, offline or offsite locations, all while eliminating archive silos and reducing management overhead. This intelligent storage system is replacing optical, tape, and disk in healthcare, document imaging, financial services, digital video archive, service provider, and government markets.

Needham & Company acted as exclusive financial advisor to ProStor Systems, Inc. in the sale of its RDX removable disk business to Tandberg Data. Tandberg Data will acquire the RDX business, including intellectual property and key members of ProStor’s RDX engineering team. The terms of the deal were not disclosed. ProStor Systems is the inventor and original developer of RDX removable disk technology and the only vendor to offer a multi-tiered storage system based on RDX. The acquisition of the RDX business further solidifies Tandberg Data’s position in the data protection market. In the past year, Tandberg Data has expanded their product portfolio with new data protection products and appliances, and acquired their manufacturing facility in China. With the ownership of the RDX technology, the company will be able to strengthen relationships with their customers, partners and RDX licensees, and grow the RDX business. Tandberg Data will work closely together with current RDX license partners, to further grow the removable disk market through continued investment in R&D, sales and marketing of the RDX technology.

Mattson Technology, Inc. (NASDAQ: MTSN) designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits. The company is a leading supplier of plasma and rapid thermal processing equipment to the global semiconductor industry, and operate in three primary product sectors: dry strip, rapid thermal processing and etch. Through manufacturing and design innovation, we have produced technologically advanced systems that provide productive and cost-effective solutions for customers fabricating current- and next-generation semiconductor devices.

Mattson Technology, Inc. raised $14.1 million in its follow-on offering at $1.80 per share. Needham acted as the sole bookrunner on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,020,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Mattson Technology, Inc. for general corporate purposes, which may include working capital, capital expenditures, other corporate expenses, and acquisitions of complementary products, technologies or businesses.

TranSwitch Corporation (NASDAQ: TXCC) is a leading provider of semiconductor solutions in rapidly growing segments of the consumer electronics and telecommunications markets. Founded in 1988, TranSwitch® is headquartered in Shelton, CT. The company designs and develops innovative silicon integrated circuits and intellectual property solutions to deliver superior voice and video quality for the next generation of multimedia over IP, while providing the customer support needed for rapid time-to-market.

TranSwitch Corporation raised $17.4 million in its follow-on offering at $2.80 per share. Needham acted as the sole bookrunner on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,020,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by TranSwitch Corporation for general corporate purposes, which may include working capital, capital expenditures, other corporate expenses, and acquisitions of complementary products, technologies or businesses.

Sagent Pharmaceuticals (NASDAQ: SGNT) is a specialty pharmaceutical company, founded in 2006, focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients.

Sagent Pharmaceuticals raised $105.8 million in its upsized initial public offering at $16.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 862,500 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Sagent Pharmaceuticals for general corporate purposes including working capital, product development and operating expenses.

Sequans Communications S.A. (NYSE: SQNS) is a 4G chipmaker, supplying LTE and WiMAX chips to equipment manufacturers and mobile operators worldwide. Founded in 2004 to address the WiMAX market, the Company expanded in early 2009 to address the LTE market. The Company is based in Paris, France with additional offices throughout the world, including the United States, the United Kingdom, Israel, Hong Kong, Singapore, Taiwan, and China.

Sequans Communications S.A. raised $77.0 million in its initial public offering at $10.00 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares will be used by Sequans Communications for general corporate purposes including creating a public market for the ADSs, obtain additional equity capital and facilitate future access to the public markets. If the opportunity arises, Sequans Communications may use a portion of the net proceeds from this offering to acquire or invest in businesses, products or technologies that are complementary to their own.

Zipcar, Inc. (NASDAQ: ZIP) is the world's leading car sharing network with more than 560,000 members and over 8,000 vehicles in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car.

Zipcar, Inc. raised $200.5 million in its upsized initial public offering at $18.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,452,617 shares of common stock at the follow-on offering price from certain selling shareholders to cover over-allotments. The net proceeds from the sale of the shares will be used by Zipcar for repayment of certain debt, business expansion, working capital and other general corporate purposes, including the development of new services, sales and marketing activities and capital expenditures. Zipcar will not receive any proceeds from the sale of shares by the selling stockholders.

NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) is an outsourcing-based development company focused on bringing biopharmaceuticals to patients with rare disorders and few, if any, therapeutic options. The company is advancing two Phase 3 registration programs, GATTEX® (teduglutide) in short bowel syndrome (SBS) and NPSP558 (parathyroid hormone (1-84) [rDNA origin] injection) in hypoparathyroidism. NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes agreements with Amgen, Kyowa Hakko Kirin, Nycomed, and Ortho-McNeil Pharmaceutical.

NPS Pharmaceuticals, Inc. raised $113.9 million in its upsized follow-on offering at $9.00 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,650,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by NPS Pharmaceuticals to fund clinical trials and seek FDA approval of their product candidates and for working capital and other general corporate purposes. This is the second transaction that Needham has completed for NPS Pharmaceuticals since April 2010.

OCZ Technology Group, Inc. (NASDAQ: OCZ) is a leader in the design, manufacturing, and distribution of high performance and reliable solid-state drives (SSDs). OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products.

OCZ Technology Group, Inc. raised $99.7 million in its follow-on offering at $8.50 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,530,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by OCZ Technology Group for general corporate purposes. This is the second joint-lead managed transaction that Needham has completed for OCZ Technology Group, Inc. since December 2010.

Inphi Corporation (NYSE: IPHI) is a provider of high-speed analog semiconductor solutions for the communications and computing markets, providing high signal integrity at leading-edge data speeds that are designed to address bandwidth bottlenecks in networks, minimize latency in computing environments and enable the rollout of next generation communications infrastructure. Inphi's solutions provide a vital interface between analog signals and digital information in high-performance systems, such as telecommunications transport systems, enterprise networking equipment, enterprise and data center servers, storage platforms, test and measurement equipment and military systems.

Inphi Corporation raised $91.0 million in its follow-on offering at $20.90 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 449,336 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Inphi Corporation primarily for general corporate purposes, including working capital and capital expenditures. In addition, the company may also use a portion of the net proceeds to acquire complementary businesses, products or technologies. This is the second transaction that Needham has completed for Inphi Corporation since November 2010.

Universal Display Corporation (NASDAQ: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 1,000 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Universal Display Corporation raised $264.5 million in its follow-on offering at $46.00 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 750,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Universal Display Corporation for general corporate purposes, including the acquisition, development and license of properties, assets, entities or technologies. Needham has been involved in multiple transactions for Universal Display Corporation over the past few years.

Photronics, Inc. (NASDAQ: PLAB) is a world leader in sub-wavelength reticle solution technology. Today, Photronics operates nine manufacturing facilities around the globe strategically located near the world's leading semiconductor and flat panel display manufacturers. The company provides a complete array of photomask solutions for customers manufacturing semiconductors, flat panel displays, optoelectronics and data storage components. Recent investments in new technology and a joint venture partnership have propelled Photronics to the forefront of both integrated circuit and flat panel display photomask manufacturing. Their technology solutions are now recognized globally and are allowing customers to build state-of-the art technologies in a cost effective manner.

Photronics, Inc. (NASDAQ: PLAB) issued $115.0 million principal amount of Convertible Senior Notes due 2016. The convertible senior notes will be convertible into shares of Photronics common stock. The interest rate, conversion price and other terms of the convertible senior notes were determined by negotiations between Photronics and the initial purchasers. The debentures were offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The underwriters fully exercised their option to purchase an additional $15 million in aggregate principal amount of debentures to cover overallotments. Needham & Company acted as a co-manager for this transaction. In connection with the offering, Photronics, Inc. intends to acquire up to $30 million aggregate principal amount of its outstanding 5.50% convertible senior notes due 2014 in individually negotiated transactions, by delivering cash and/or shares of its common stock as consideration. In addition, following this offering the Company intends to repay up to $23 million of other outstanding higher interest bearing debt. The Company intends to use the remaining net proceeds to acquire from time to time additional 2014 notes in the open market and for general corporate purposes, which may include, among other things, working capital and capital expenditures. Needham has been involved in multiple transactions for Photronics, Inc. over the past few years.

Novadaq Technologies (NASDAQ: NDQ) develops and markets real-time fluorescence imaging technologies for use in the operating room. The Company's primary core technology platform, SPY Imaging, provides clinically relevant, anatomic and physiologic images during a wide variety of complex open and minimally invasive surgical ("MIS") procedures. SPY empowers surgeons treating life-threatening illnesses such as breast, colon and other cancers and cardiovascular disease to more effectively treat vascular blockages and assess tissue perfusion. The Company's key markets include plastic reconstructive, gastrointestinal, cardiac and general surgery. To realize the full potential of its SPY Imaging technology platform, Novadaq continues to explore technology alliances and has established relationships with Intuitive Surgical and LifeCell Corporation. Novadaq announced in February 2011 that it has acquired all of the assets of the TMR business from PLC Medical.

Novadaq Technologies completed the pricing of an offering of 4,731,861 Units through a private placement made up of 1 share of common stock and 0.45 of a warrant with an exercise price of $3.18. Each Unit will be priced at $3.17 for a total transaction value of $15.0 million. Needham acted as co-placement agent for this transaction. The net proceeds from the sale of the Units will be used by Novadaq for to further drive adoption and commercialization of the SPY® imaging technology to improve clinical outcomes of complex surgeries including breast reconstruction, gastrointestinal surgeries and other cancer surgeries; and for general corporate purposes.

3D Systems Corporation (NASDAQ: TDSC) is a leading provider of 3D content-to-print solutions including 3D printers, parts and production systems. Its expertly integrated rapid prototyping and manufacturing solutions reduce the time and cost of designing new products and printing real parts directly from digital input. These solutions are used to design, communicate, prototype and produce functional end-use parts; customers create with confidence.

3D Systems Corporation raised $103.2 million in its follow-on offering at $44.00 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 306,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by 3D Systems for general corporate purposes, including potential acquisitions. The Company will not receive any proceeds from the sale of shares by the selling stockholders.

Perry Ellis International, Inc. (NASDAQ: PERY) is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories and fragrances. The Company’s collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear and men’s and women’s swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis®, Jantzen®, Laundry by Shelli Segal®, C&C California®, Cubavera®, Centro®, Solero®, Munsingwear®, Savane®, Original Penguin® by Munsingwear®, Grand Slam®, Natural Issue®, Pro Player®, Havanera Co.®, Axis®, Tricots St. Raphael®, Gotcha®, Girl Star®, MCD®, John Henry®, Mondo di Marco®, Redsand®, Manhattan®, Axist®, Farah® and Rafaella®. The Company enhances its roster of brands by licensing trademarks from third parties, including: Pierre Cardin® for men’s sportswear, Nike® and Jag® for swimwear, and Callaway®, TOP-FLITE®, PGA TOUR® and Champions Tour® for golf apparel.

Perry Ellis International, Inc. raised $83.7 million in its follow-on offering at $28.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 390,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Perry Ellis International primarily to repay a portion of the amounts outstanding under its senior credit facility.

Optimer Pharmaceutical, Inc. (NASDAQ: OPTR) is a biopharmaceutical company focused on discovering, developing and commercializing hospital specialty products to treat serious infections and address unmet medical needs. Optimer has two anti-infective product candidates in development, fidaxomicin and Pruvel™ (prulifloxacin). Fidaxomicin is a narrow spectrum antibiotic being developed for the treatment of Clostridium difficile infection (CDI). The FDA granted the Company's request for six-month Priority Review of fidaxomicin, and has assigned a Prescription Drug User Fee Act (PDUFA) goal date of May 30, 2011. The Company also filed a MAA with the European Medicines Agency (EMA) for fidaxomicin. Pruvel™ is a prodrug in the fluoroquinolone class of antibiotics being developed as a treatment for infectious diarrhea.

Optimer Pharmaceuticals, Inc. raised $77.6 million in its follow-on offering at $11.25 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 900,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Optimer Pharmaceuticals, Inc. primarily to prepare for the potential commercial launch of fidaxomicin in the United States, if approved, as well as for research and development activities, potential in-licenses or acquisitions, working capital and other general corporate purposes.

A.D.A.M. (NASDAQ: ADAM) is a leading provider of consumer health information and benefits technology solutions to healthcare organizations, benefits brokers, employers, consumers, and educational institutions. A.D.A.M. health and benefits solutions engage consumers to better understand their health, wellness and benefits choices, and provide the tools to help them make personalized health and benefits decisions, while helping healthcare organizations and employers reduce the costs of healthcare and benefits administration. As of the close of trading on February 7, 2011, ADAM's stock no longer trades on the NASDAQ stock market.

Needham & Company acted as exclusive financial advisor to A.D.A.M. in its sale to Ebix, Inc. (NASDAQ: EBIX), a provider of end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry. Under the terms of the merger agreement, ADAM shareholders will receive, at a fixed exchange ratio, 0.3122 shares of Ebix common stock for every share of ADAM common stock.  In addition to the strategic benefits of combining two highly complementary Atlanta based organizations and product families, Ebix believes that they can create substantial shareholder value through significant cost structure improvements and access to new growth opportunities. At a particularly challenging time for the health insurance industry, the company believes that this combination vaults the combined company into a powerful role with respect to employers, brokers, carriers and health insurance organizations and expects to shape the health insurance industry for years to come.

SS&C Technologies, Inc. (NASDAQ: SSNC) is a leading provider of mission-critical, sophisticated software products and software-enabled services that allow financial services providers to automate complex business processes and effectively manage their information processing requirements. SS&C's portfolio of software products and rapidly deployable software enabled services allows its clients to automate and integrate front-office functions such as trading and modeling, middle-office functions such as portfolio management and reporting, and back-office functions such as accounting, performance measurement, reconciliation, reporting, processing and clearing. SS&C's solutions enable its clients to focus on core operations, better monitor and manage investment performance and risk, improve operating efficiency and reduce operating costs.

SS&C Technologies Holdings, Inc. raised $213.0 million in its follow-on offering at $17.60 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,100,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by SS&C technologies Holdings, Inc. primarily to redeem a portion of our outstanding 113/4% senior subordinated notes due 2013, at a redemption price of 102.9375% of the principal amount, plus accrued and unpaid interest.

Seattle Genetics, Inc. (NASDAQ: SGEN) is a clinical-stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune diseases.

Seattle Genetics, Inc. raised $178.3 million in its follow-on offering at $15.50 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,500,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Seattle Genetics, Inc. primarily to fund potential regulatory approval of brentuximab vedotin and its continuing preparations for the potential commercial launch of brentuximab vedotin, to fund the company’s research and development efforts, including clinical trials and manufacturing campaigns for its product candidates, and for working capital and general corporate purposes. The company may also use a portion of the net proceeds from this offering to acquire or invest in complementary businesses, technologies, product candidates or other intellectual property. Needham has been involved in multiple transactions for Seattle Genetics over the past few years.

Avnet, Inc. (NYSE: AVT) is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions.

Needham & Company acted as financial advisor to Avnet, Inc. in its sale of New ProSys Corp. (“ProSys”), a value-added reseller and a leading provider of IT infrastructure solutions to a broad range of markets, to ACS Acquisition Corp., an affiliate of Applied Computer Solutions. Avnet acquired ProSys as part of the Bell Microproducts acquisition on July 6, 2010, and announced its intention to sell this VAR business at that time. Total consideration for the sale includes both a cash payment at closing and a three-year earn-out based upon ProSys’ anticipated results. Needham & Company acted as the exclusive financial advisor to Avnet, Inc. in this transaction. This acquisition will complement existing Applied Computer Solutions’ efforts and divests a non-core asset of Avnet, Inc. It will allow ProSys to join one of the largest and fastest growing resellers in North America focused exclusively on end-user customers where they can leverage their capabilities to address an expanded set of opportunities. ProSys, deploys customized, leading-edge solutions from premier technology vendors that help enterprise, public sector and educational customers address their most complex IT infrastructure needs.

Velti plc (NASDAQ: VELT) is a leading global provider of mobile marketing and advertising solutions that enable brands, advertising agencies, mobile operators and media companies to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. The company’s platform allows their customers to use mobile and traditional media, such as television, print, radio and outdoor advertising, together to reach targeted consumers, engage the consumer through the mobile Internet and applications, convert the consumer into their customers and continue to actively manage the relationship with the consumer through the mobile channel.

Velti plc raised $172.8 million in its initial public offering at $12 per share. Needham acted as a joint-lead manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,877,700 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Velti plc primarily to repay in full all outstanding amounts of their short-term financings and long-term debt.

Pluristem Therapeutics Inc. (NASDAQ: PSTI) is a bio-therapeutics company dedicated to the commercialization of non-personalized (allogeneic) cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders.

Pluristem Therapeutics raised $37.9 million in a follow-on offering at $3.25 per Unit. Each Unit consists of one share of common stock and a warrant to purchase 0.40 of a share of common stock at an exercise price of $4.20 per share. The warrants have a 5-year term and are exercisable at any time after the 6-month anniversary of the date of issuance. Needham & Company acted as co-lead manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,650,000 of common stock and warrants to purchase up to 660,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from this transaction will be used by Pluristem to fund to fund the preparation of the two clinical studies, research and product development activities, other clinical trials activities and for general corporate purposes, including working capital and administrative expenses.

ArQule, Inc. (NASDAQ: ARQL) is a biotechnology company that researches, develops and commercializes a next-generation of small molecule cancer therapeutics. The company is combining innovative, proprietary anti-cancer technology with world-class chemistry capabilities to generate drug candidates that target multiple tumor types, act selectively against cancer cells and are well tolerated by patients. The company’s lead products are in clinical development, and their research pipeline targets multiple molecules with established roles and therapeutic potential in cancer. ArQule, Inc. is headquartered and operates research facilities and development programs in Woburn, Massachusetts.

ArQule, Inc. raised $49.5 million in its follow-on offering at $6.15 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,050,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by ArQule, Inc. primarily to fund their research and development efforts, including clinical trials for their proprietary candidates, and for general corporate purposes, including working capital. The company may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies, drugs, drug candidates or other intellectual property.

Forth Dimension Displays Ltd. is the World’s leading high–resolution near-to-eye (NTE) microdisplay supplier. We provide a wide range of microdisplay solutions optimized for the best performance in demanding NTE applications. Our microdisplay products contain proprietary, high speed, liquid crystal on silicon Time Domain Imaging (TDI™) technology. Our fast, all digital, software configured, technology delivers high quality, full color, images on a single high resolution microdisplay.

Needham & Company acted as exclusive financial advisor to Forth Dimension Displays Ltd. in its sale to Kopin Corporation (NASDAQ: KOPN), a global leader of lightweight, power-efficient, ultra-small liquid crystal displays (LCDs) and heterojunction bipolar transistors (HBTs) that are revolutionizing the way people around the world see, hear and communicate, in an all cash transaction valued at approximately $11M. The acquisition opens new market opportunities for Kopin and expands their product offerings to its customers. FDD’s ultrahigh-resolution reflective microdisplay is already used extensively within a variety of applications such as high-performance cinematography, training and simulation, 3D metrology and medical imaging. FDD’s proprietary Time Domain Imaging (TDI™) technology provides beautiful high-resolution, full-color images that are critical for these high-end applications. Kopin is the leading transmissive microdisplay company in the world, and with this acquisition will be the only microdisplay manufacturer that can offer complete system solutions with either reflective or transmissive liquid crystal display technologies.

OCZ Technology Group, Inc. (NASDAQ: OCZ) is a leading provider of high-performance solid-state drives (SSDs) and power supplies for computing devices and systems, has launched the ZX Series power supply series to answer consumer demand for a robust high-wattage solution that is also highly-efficient. The ZX Series is designed for best-in-class performance, reliability and also features 100% modular design for the ultimate customization for today’s high-end gaming systems and professional workstations.

OCZ Technology Group, Inc. raised $16.8 million in a private placement at $3.75 per share. Certain shareholders of OCZ Technology Group, Inc. signed definitive agreements with various institutional and accredited investors pertaining to the sale of OCZ common stock. Needham & Company acted as joint-lead placement agent in the offering. The shares were offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. OCZ will not receive any of the proceeds of this sale.

Inphi Corporation (NYSE: IPHI) is a fabless provider of high-speed analog semiconductor solutions for the communications and computing markets, providing high signal integrity at leading-edge data speeds that are designed to address bandwidth bottlenecks in networks, minimize latency in computing environments and enable the rollout of next generation communications infrastructure. Inphi’s solutions provide a vital interface between analog signals and digital information in high-performance systems, such as telecommunications transport systems, enterprise networking equipment, enterprise and data center servers, storage platforms, test and measurement equipment and military systems.

Inphi Corporation raised $94.0 million in its initial public offering at $12 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,020,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Inphi Corporation primarily for working capital and general corporate purposes, including potential acquisitions.

SPS Commerce, Inc. (NASDAQ: SPSC) is a leading provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to thousands of customers worldwide. They deliver solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The SPSCommerce.net platform features pre-built integrations used by current and new customers alike, spanning 2,700 order management models across 1,300 retailers, grocers and distributors, as well as integrations to over 100 accounting, warehouse management, enterprise resource planning, and packing and shipping applications. More than 35,000 customers across more than 40 countries have used SPSCommerce.net, making it one of the largest trading partner integration centers. SPS Commerce is headquartered in Minneapolis.

SPS Commerce, Inc. raised $56.5 million in its initial public offering at $12 per share. Needham acted as a Co-Lead Manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 614,504 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by SPS Commerce, Inc. primarily to repay the indebtedness under equipment term loans that bear interest and mature in the year ending December 31, 2010, December 31, 2011 and January 1, 2012. The company intends to use the remaining net proceeds for working capital and other general corporate purposes, including potential acquisitions.

NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) is developing new treatment options for patients with rare gastrointestinal and endocrine disorders. The company is currently advancing two Phase 3 registration programs. Teduglutide is being evaluated as GATTEX in a Phase 3 registration study known as STEPS for intestinal failure associated with short bowel syndrome and is in preclinical development for chemotherapy-induced gastrointestinal mucositis and other pediatric indications. NPSP558 (parathyroid hormone 1-84 injection) is being evaluated in a Phase 3 registration study known as REPLACE as a hormone replacement therapy for hypoparathyroidism. NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes agreements with Amgen, Kyowa Hakko Kirin, Nycomed, and Ortho-McNeil Pharmaceuticals.

NPS Pharmaceuticals, Inc. raised $56.9 million in a follow-on offering at $5.50 per share. Needham & Company acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,350,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from this transaction will be used by NPS Pharmaceuticals to fund clinical trials of their product candidates (GATTEX and NPSP558), to advance their preclinical research programs, and for working capital and other general corporate purposes.

Velti plc (NASDAQ: VELT) is a leading global provider of mobile marketing and advertising technology and solutions that enable brands, advertising agencies, mobile operators and media to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. The Velti platform, called Velti mGageTM, allows customers to use mobile and traditional media to reach targeted consumers, engage the consumer through the mobile Internet and applications, convert them into customers and continue to actively manage the relationship through the mobile channel.

Velti plc raised $172.4 million in its follow-on offering at $15.25 per share. Needham acted as lead manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,474,275 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Velti plc to repay all of the outstanding principal, accrued interest and prepayment penalties associated with the Black Sea Trade and Development Bank term loan in the approximate amount of $22.0 million. The company may also use a portion of the net proceeds to fund outstanding payments related to our September 2010 acquisition of Mobclix, general corporate purposes and working capital including funding our strategic plan for global expansion and making further investments in our technology solutions. This is the second transaction that Needham has completed for Velti plc since January 2011.

Rambus, Inc. (NYSE: RMBS) is one of the world's premier technology licensing companies. As a company of inventors, Rambus focuses on the development of technologies that enrich the end-user experience of electronic systems. Its breakthrough innovations and solutions help industry-leading companies bring superior products to market. Rambus licenses both its world-class patent portfolio, as well as its family of leadership and industry-standard solutions. Headquartered in Sunnyvale, California, Rambus has regional offices in North Carolina, Ohio, India, Germany, Japan, Korea, and Taiwan.

Needham & Company acted as financial advisor to Rambus, Inc. in its acquisition of Cryptography Research, Inc. that was completed for an aggregate of $342.5 million comprised of $167.5 million in cash, approximately 6.4 million shares of Rambus stock, and $50 million payable to CRI employees in cash or stock over three years. Needham & Company provided a fairness opinion to Rambus, Inc.’s Board of Directors as part of its services. This acquisition will expand the breadth of Rambus' breakthrough technologies available for licensing with complementary technologies from CRI that include patented innovations and solutions for content protection, network security, anti-counterfeiting and financial services. Combined with the company’s complementary semiconductor, and lighting and display technologies, Rambus will create an unrivaled set of innovations and solutions critical for a broad range of electronics, with particular focus on the fast growing mobile market.

SiPort, Inc. operates as a fabless semiconductor company. It offers SP1010 Terrestrial Digital Broadcast Receiver, an integrated CMOS tuner and baseband chip that enables digital radio and digital data services from terrestrial broadcasts on mobile platforms, such as personal navigation devices and MP3 players, portable and tabletop radios, automotive navigation, home audio systems, and home entertainment systems. SiPort Inc. was founded in 2004 and is based in Santa Clara, California. As of May 25, 2011, SiPort, Inc. operates as a subsidiary of Intel Corporation.

Needham & Company acted as financial advisor to SiPort, Inc. in its sale to Intel Corporation. The terms of the deal were not disclosed. Needham & Company acted as the exclusive financial advisor to SiPort, Inc. in this transaction. This acquisition will complement existing Intel Corporation efforts and will likely allow for the SiPort IP to find its way into more integrated solutions - which will increase the ease of including HD Radio into all the devices Intel already uses. In the vast scheme of things, a radio receiver is a small bit of silicon and with smaller electronics depending on higher levels of integration it is more economical to put it together with larger silicon.

Orbotech Ltd. (NASDAQ: ORBK) has been at the cutting edge of the electronics industry supply chain, as an innovator of enabling technologies used in the manufacture of the world's most sophisticated consumer and industrial products, for over 30 years. The Company is a leading provider of yield-enhancing and production solutions, primarily for manufacturers of printed circuit boards and flat panel displays; and today, virtually every electronic device is produced using Orbotech technology. The Company also applies its core expertise and resources in other advanced technology areas, including character recognition for check and forms processing and solar photovoltaic manufacturing. Headquartered in Israel and operating from multiple locations internationally, Orbotech's highly talented and inter-disciplinary professionals design, manufacture, sell and service the Company's end-to-end portfolio of solutions for the benefit of customers the world over.

Orbotech Ltd. raised $96.3 million in its follow-on offering at $12.50 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,005,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Orbotech Ltd. for general corporate purposes.

CoStar Group, Inc. (NASDAQ: CSGP) is commercial real estate's leading provider of information and analytic services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Their suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 1,500 worldwide, including the industry's largest professional research organization.

CoStar Group, Inc. raised $258.8 million in its follow-on offering at $60.0 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 562,500 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by CoStar Group, Inc. to fund a portion of the cash consideration payable in connection with its acquisition of LoopNet, Inc. and, to the extent that any proceeds remain thereafter, or the acquisition is not completed, for general corporate purposes. The offering was not conditioned on the closing of the LoopNet acquisition.

Targacept, Inc. (NASDAQ: TRGT) is a biopharmaceutical company engaged in the design, discovery and development of NNR Therapeutics™ for the treatment of diseases and disorders of the nervous system.

Targacept, Inc. raised $86.2 million in its follow-on offering at $20.50 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 548,780 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Targacept, Inc. to develop TC-5619 and other clinical-stage product candidates further, to advance research and development programs, and for working capital & other general corporate purposes.

ProStor Systems, Inc. provides industry-leading solutions for the cost-effective, long-term storage of digital information. ProStor InfiniVault® integrates information management software, online disk, and RDX removable disk to simplify retention management while automating disaster protection and regulatory compliance. InfiniVault provides fast, reliable retrieval of information from a choice of local online, nearline, offline or offsite locations, all while eliminating archive silos and reducing management overhead. This intelligent storage system is replacing optical, tape, and disk in healthcare, document imaging, financial services, digital video archive, service provider, and government markets.

Needham & Company acted as exclusive financial advisor to ProStor Systems, Inc. in the sale of its RDX removable disk business to Tandberg Data. Tandberg Data will acquire the RDX business, including intellectual property and key members of ProStor’s RDX engineering team. The terms of the deal were not disclosed. ProStor Systems is the inventor and original developer of RDX removable disk technology and the only vendor to offer a multi-tiered storage system based on RDX. The acquisition of the RDX business further solidifies Tandberg Data’s position in the data protection market. In the past year, Tandberg Data has expanded their product portfolio with new data protection products and appliances, and acquired their manufacturing facility in China. With the ownership of the RDX technology, the company will be able to strengthen relationships with their customers, partners and RDX licensees, and grow the RDX business. Tandberg Data will work closely together with current RDX license partners, to further grow the removable disk market through continued investment in R&D, sales and marketing of the RDX technology.

Mattson Technology, Inc. (NASDAQ: MTSN) designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits. The company is a leading supplier of plasma and rapid thermal processing equipment to the global semiconductor industry, and operate in three primary product sectors: dry strip, rapid thermal processing and etch. Through manufacturing and design innovation, we have produced technologically advanced systems that provide productive and cost-effective solutions for customers fabricating current- and next-generation semiconductor devices.

Mattson Technology, Inc. raised $14.1 million in its follow-on offering at $1.80 per share. Needham acted as the sole bookrunner on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,020,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Mattson Technology, Inc. for general corporate purposes, which may include working capital, capital expenditures, other corporate expenses, and acquisitions of complementary products, technologies or businesses.

TranSwitch Corporation (NASDAQ: TXCC) is a leading provider of semiconductor solutions in rapidly growing segments of the consumer electronics and telecommunications markets. Founded in 1988, TranSwitch® is headquartered in Shelton, CT. The company designs and develops innovative silicon integrated circuits and intellectual property solutions to deliver superior voice and video quality for the next generation of multimedia over IP, while providing the customer support needed for rapid time-to-market.

TranSwitch Corporation raised $17.4 million in its follow-on offering at $2.80 per share. Needham acted as the sole bookrunner on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,020,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by TranSwitch Corporation for general corporate purposes, which may include working capital, capital expenditures, other corporate expenses, and acquisitions of complementary products, technologies or businesses.

Sagent Pharmaceuticals (NASDAQ: SGNT) is a specialty pharmaceutical company, founded in 2006, focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients.

Sagent Pharmaceuticals raised $105.8 million in its upsized initial public offering at $16.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 862,500 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Sagent Pharmaceuticals for general corporate purposes including working capital, product development and operating expenses.

Sequans Communications S.A. (NYSE: SQNS) is a 4G chipmaker, supplying LTE and WiMAX chips to equipment manufacturers and mobile operators worldwide. Founded in 2004 to address the WiMAX market, the Company expanded in early 2009 to address the LTE market. The Company is based in Paris, France with additional offices throughout the world, including the United States, the United Kingdom, Israel, Hong Kong, Singapore, Taiwan, and China.

Sequans Communications S.A. raised $77.0 million in its initial public offering at $10.00 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares will be used by Sequans Communications for general corporate purposes including creating a public market for the ADSs, obtain additional equity capital and facilitate future access to the public markets. If the opportunity arises, Sequans Communications may use a portion of the net proceeds from this offering to acquire or invest in businesses, products or technologies that are complementary to their own.

Zipcar, Inc. (NASDAQ: ZIP) is the world's leading car sharing network with more than 560,000 members and over 8,000 vehicles in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car.

Zipcar, Inc. raised $200.5 million in its upsized initial public offering at $18.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,452,617 shares of common stock at the follow-on offering price from certain selling shareholders to cover over-allotments. The net proceeds from the sale of the shares will be used by Zipcar for repayment of certain debt, business expansion, working capital and other general corporate purposes, including the development of new services, sales and marketing activities and capital expenditures. Zipcar will not receive any proceeds from the sale of shares by the selling stockholders.

NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) is an outsourcing-based development company focused on bringing biopharmaceuticals to patients with rare disorders and few, if any, therapeutic options. The company is advancing two Phase 3 registration programs, GATTEX® (teduglutide) in short bowel syndrome (SBS) and NPSP558 (parathyroid hormone (1-84) [rDNA origin] injection) in hypoparathyroidism. NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes agreements with Amgen, Kyowa Hakko Kirin, Nycomed, and Ortho-McNeil Pharmaceutical.

NPS Pharmaceuticals, Inc. raised $113.9 million in its upsized follow-on offering at $9.00 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,650,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by NPS Pharmaceuticals to fund clinical trials and seek FDA approval of their product candidates and for working capital and other general corporate purposes. This is the second transaction that Needham has completed for NPS Pharmaceuticals since April 2010.

OCZ Technology Group, Inc. (NASDAQ: OCZ) is a leader in the design, manufacturing, and distribution of high performance and reliable solid-state drives (SSDs). OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products.

OCZ Technology Group, Inc. raised $99.7 million in its follow-on offering at $8.50 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,530,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by OCZ Technology Group for general corporate purposes. This is the second joint-lead managed transaction that Needham has completed for OCZ Technology Group, Inc. since December 2010.

Inphi Corporation (NYSE: IPHI) is a provider of high-speed analog semiconductor solutions for the communications and computing markets, providing high signal integrity at leading-edge data speeds that are designed to address bandwidth bottlenecks in networks, minimize latency in computing environments and enable the rollout of next generation communications infrastructure. Inphi's solutions provide a vital interface between analog signals and digital information in high-performance systems, such as telecommunications transport systems, enterprise networking equipment, enterprise and data center servers, storage platforms, test and measurement equipment and military systems.

Inphi Corporation raised $91.0 million in its follow-on offering at $20.90 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 449,336 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Inphi Corporation primarily for general corporate purposes, including working capital and capital expenditures. In addition, the company may also use a portion of the net proceeds to acquire complementary businesses, products or technologies. This is the second transaction that Needham has completed for Inphi Corporation since November 2010.

Universal Display Corporation (NASDAQ: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 1,000 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Universal Display Corporation raised $264.5 million in its follow-on offering at $46.00 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 750,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Universal Display Corporation for general corporate purposes, including the acquisition, development and license of properties, assets, entities or technologies. Needham has been involved in multiple transactions for Universal Display Corporation over the past few years.

Photronics, Inc. (NASDAQ: PLAB) is a world leader in sub-wavelength reticle solution technology. Today, Photronics operates nine manufacturing facilities around the globe strategically located near the world's leading semiconductor and flat panel display manufacturers. The company provides a complete array of photomask solutions for customers manufacturing semiconductors, flat panel displays, optoelectronics and data storage components. Recent investments in new technology and a joint venture partnership have propelled Photronics to the forefront of both integrated circuit and flat panel display photomask manufacturing. Their technology solutions are now recognized globally and are allowing customers to build state-of-the art technologies in a cost effective manner.

Photronics, Inc. (NASDAQ: PLAB) issued $115.0 million principal amount of Convertible Senior Notes due 2016. The convertible senior notes will be convertible into shares of Photronics common stock. The interest rate, conversion price and other terms of the convertible senior notes were determined by negotiations between Photronics and the initial purchasers. The debentures were offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The underwriters fully exercised their option to purchase an additional $15 million in aggregate principal amount of debentures to cover overallotments. Needham & Company acted as a co-manager for this transaction. In connection with the offering, Photronics, Inc. intends to acquire up to $30 million aggregate principal amount of its outstanding 5.50% convertible senior notes due 2014 in individually negotiated transactions, by delivering cash and/or shares of its common stock as consideration. In addition, following this offering the Company intends to repay up to $23 million of other outstanding higher interest bearing debt. The Company intends to use the remaining net proceeds to acquire from time to time additional 2014 notes in the open market and for general corporate purposes, which may include, among other things, working capital and capital expenditures. Needham has been involved in multiple transactions for Photronics, Inc. over the past few years.

Novadaq Technologies (NASDAQ: NDQ) develops and markets real-time fluorescence imaging technologies for use in the operating room. The Company's primary core technology platform, SPY Imaging, provides clinically relevant, anatomic and physiologic images during a wide variety of complex open and minimally invasive surgical ("MIS") procedures. SPY empowers surgeons treating life-threatening illnesses such as breast, colon and other cancers and cardiovascular disease to more effectively treat vascular blockages and assess tissue perfusion. The Company's key markets include plastic reconstructive, gastrointestinal, cardiac and general surgery. To realize the full potential of its SPY Imaging technology platform, Novadaq continues to explore technology alliances and has established relationships with Intuitive Surgical and LifeCell Corporation. Novadaq announced in February 2011 that it has acquired all of the assets of the TMR business from PLC Medical.

Novadaq Technologies completed the pricing of an offering of 4,731,861 Units through a private placement made up of 1 share of common stock and 0.45 of a warrant with an exercise price of $3.18. Each Unit will be priced at $3.17 for a total transaction value of $15.0 million. Needham acted as co-placement agent for this transaction. The net proceeds from the sale of the Units will be used by Novadaq for to further drive adoption and commercialization of the SPY® imaging technology to improve clinical outcomes of complex surgeries including breast reconstruction, gastrointestinal surgeries and other cancer surgeries; and for general corporate purposes.

3D Systems Corporation (NASDAQ: TDSC) is a leading provider of 3D content-to-print solutions including 3D printers, parts and production systems. Its expertly integrated rapid prototyping and manufacturing solutions reduce the time and cost of designing new products and printing real parts directly from digital input. These solutions are used to design, communicate, prototype and produce functional end-use parts; customers create with confidence.

3D Systems Corporation raised $103.2 million in its follow-on offering at $44.00 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 306,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by 3D Systems for general corporate purposes, including potential acquisitions. The Company will not receive any proceeds from the sale of shares by the selling stockholders.

Perry Ellis International, Inc. (NASDAQ: PERY) is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories and fragrances. The Company’s collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear and men’s and women’s swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis®, Jantzen®, Laundry by Shelli Segal®, C&C California®, Cubavera®, Centro®, Solero®, Munsingwear®, Savane®, Original Penguin® by Munsingwear®, Grand Slam®, Natural Issue®, Pro Player®, Havanera Co.®, Axis®, Tricots St. Raphael®, Gotcha®, Girl Star®, MCD®, John Henry®, Mondo di Marco®, Redsand®, Manhattan®, Axist®, Farah® and Rafaella®. The Company enhances its roster of brands by licensing trademarks from third parties, including: Pierre Cardin® for men’s sportswear, Nike® and Jag® for swimwear, and Callaway®, TOP-FLITE®, PGA TOUR® and Champions Tour® for golf apparel.

Perry Ellis International, Inc. raised $83.7 million in its follow-on offering at $28.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 390,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Perry Ellis International primarily to repay a portion of the amounts outstanding under its senior credit facility.

Optimer Pharmaceutical, Inc. (NASDAQ: OPTR) is a biopharmaceutical company focused on discovering, developing and commercializing hospital specialty products to treat serious infections and address unmet medical needs. Optimer has two anti-infective product candidates in development, fidaxomicin and Pruvel™ (prulifloxacin). Fidaxomicin is a narrow spectrum antibiotic being developed for the treatment of Clostridium difficile infection (CDI). The FDA granted the Company's request for six-month Priority Review of fidaxomicin, and has assigned a Prescription Drug User Fee Act (PDUFA) goal date of May 30, 2011. The Company also filed a MAA with the European Medicines Agency (EMA) for fidaxomicin. Pruvel™ is a prodrug in the fluoroquinolone class of antibiotics being developed as a treatment for infectious diarrhea.

Optimer Pharmaceuticals, Inc. raised $77.6 million in its follow-on offering at $11.25 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 900,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Optimer Pharmaceuticals, Inc. primarily to prepare for the potential commercial launch of fidaxomicin in the United States, if approved, as well as for research and development activities, potential in-licenses or acquisitions, working capital and other general corporate purposes.

A.D.A.M. (NASDAQ: ADAM) is a leading provider of consumer health information and benefits technology solutions to healthcare organizations, benefits brokers, employers, consumers, and educational institutions. A.D.A.M. health and benefits solutions engage consumers to better understand their health, wellness and benefits choices, and provide the tools to help them make personalized health and benefits decisions, while helping healthcare organizations and employers reduce the costs of healthcare and benefits administration. As of the close of trading on February 7, 2011, ADAM's stock no longer trades on the NASDAQ stock market.

Needham & Company acted as exclusive financial advisor to A.D.A.M. in its sale to Ebix, Inc. (NASDAQ: EBIX), a provider of end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry. Under the terms of the merger agreement, ADAM shareholders will receive, at a fixed exchange ratio, 0.3122 shares of Ebix common stock for every share of ADAM common stock.  In addition to the strategic benefits of combining two highly complementary Atlanta based organizations and product families, Ebix believes that they can create substantial shareholder value through significant cost structure improvements and access to new growth opportunities. At a particularly challenging time for the health insurance industry, the company believes that this combination vaults the combined company into a powerful role with respect to employers, brokers, carriers and health insurance organizations and expects to shape the health insurance industry for years to come.

SS&C Technologies, Inc. (NASDAQ: SSNC) is a leading provider of mission-critical, sophisticated software products and software-enabled services that allow financial services providers to automate complex business processes and effectively manage their information processing requirements. SS&C's portfolio of software products and rapidly deployable software enabled services allows its clients to automate and integrate front-office functions such as trading and modeling, middle-office functions such as portfolio management and reporting, and back-office functions such as accounting, performance measurement, reconciliation, reporting, processing and clearing. SS&C's solutions enable its clients to focus on core operations, better monitor and manage investment performance and risk, improve operating efficiency and reduce operating costs.

SS&C Technologies Holdings, Inc. raised $213.0 million in its follow-on offering at $17.60 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,100,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by SS&C technologies Holdings, Inc. primarily to redeem a portion of our outstanding 113/4% senior subordinated notes due 2013, at a redemption price of 102.9375% of the principal amount, plus accrued and unpaid interest.

Seattle Genetics, Inc. (NASDAQ: SGEN) is a clinical-stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune diseases.

Seattle Genetics, Inc. raised $178.3 million in its follow-on offering at $15.50 per share. Needham acted as a co-manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 1,500,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Seattle Genetics, Inc. primarily to fund potential regulatory approval of brentuximab vedotin and its continuing preparations for the potential commercial launch of brentuximab vedotin, to fund the company’s research and development efforts, including clinical trials and manufacturing campaigns for its product candidates, and for working capital and general corporate purposes. The company may also use a portion of the net proceeds from this offering to acquire or invest in complementary businesses, technologies, product candidates or other intellectual property. Needham has been involved in multiple transactions for Seattle Genetics over the past few years.

Avnet, Inc. (NYSE: AVT) is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions.

Needham & Company acted as financial advisor to Avnet, Inc. in its sale of New ProSys Corp. (“ProSys”), a value-added reseller and a leading provider of IT infrastructure solutions to a broad range of markets, to ACS Acquisition Corp., an affiliate of Applied Computer Solutions. Avnet acquired ProSys as part of the Bell Microproducts acquisition on July 6, 2010, and announced its intention to sell this VAR business at that time. Total consideration for the sale includes both a cash payment at closing and a three-year earn-out based upon ProSys’ anticipated results. Needham & Company acted as the exclusive financial advisor to Avnet, Inc. in this transaction. This acquisition will complement existing Applied Computer Solutions’ efforts and divests a non-core asset of Avnet, Inc. It will allow ProSys to join one of the largest and fastest growing resellers in North America focused exclusively on end-user customers where they can leverage their capabilities to address an expanded set of opportunities. ProSys, deploys customized, leading-edge solutions from premier technology vendors that help enterprise, public sector and educational customers address their most complex IT infrastructure needs.

Velti plc (NASDAQ: VELT) is a leading global provider of mobile marketing and advertising solutions that enable brands, advertising agencies, mobile operators and media companies to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. The company’s platform allows their customers to use mobile and traditional media, such as television, print, radio and outdoor advertising, together to reach targeted consumers, engage the consumer through the mobile Internet and applications, convert the consumer into their customers and continue to actively manage the relationship with the consumer through the mobile channel.

Velti plc raised $172.8 million in its initial public offering at $12 per share. Needham acted as a joint-lead manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,877,700 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Velti plc primarily to repay in full all outstanding amounts of their short-term financings and long-term debt.

Pluristem Therapeutics Inc. (NASDAQ: PSTI) is a bio-therapeutics company dedicated to the commercialization of non-personalized (allogeneic) cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders.

Pluristem Therapeutics raised $37.9 million in a follow-on offering at $3.25 per Unit. Each Unit consists of one share of common stock and a warrant to purchase 0.40 of a share of common stock at an exercise price of $4.20 per share. The warrants have a 5-year term and are exercisable at any time after the 6-month anniversary of the date of issuance. Needham & Company acted as co-lead manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,650,000 of common stock and warrants to purchase up to 660,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from this transaction will be used by Pluristem to fund to fund the preparation of the two clinical studies, research and product development activities, other clinical trials activities and for general corporate purposes, including working capital and administrative expenses.

ArQule, Inc. (NASDAQ: ARQL) is a biotechnology company that researches, develops and commercializes a next-generation of small molecule cancer therapeutics. The company is combining innovative, proprietary anti-cancer technology with world-class chemistry capabilities to generate drug candidates that target multiple tumor types, act selectively against cancer cells and are well tolerated by patients. The company’s lead products are in clinical development, and their research pipeline targets multiple molecules with established roles and therapeutic potential in cancer. ArQule, Inc. is headquartered and operates research facilities and development programs in Woburn, Massachusetts.

ArQule, Inc. raised $49.5 million in its follow-on offering at $6.15 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,050,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by ArQule, Inc. primarily to fund their research and development efforts, including clinical trials for their proprietary candidates, and for general corporate purposes, including working capital. The company may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies, drugs, drug candidates or other intellectual property.

Forth Dimension Displays Ltd. is the World’s leading high–resolution near-to-eye (NTE) microdisplay supplier. We provide a wide range of microdisplay solutions optimized for the best performance in demanding NTE applications. Our microdisplay products contain proprietary, high speed, liquid crystal on silicon Time Domain Imaging (TDI™) technology. Our fast, all digital, software configured, technology delivers high quality, full color, images on a single high resolution microdisplay.

Needham & Company acted as exclusive financial advisor to Forth Dimension Displays Ltd. in its sale to Kopin Corporation (NASDAQ: KOPN), a global leader of lightweight, power-efficient, ultra-small liquid crystal displays (LCDs) and heterojunction bipolar transistors (HBTs) that are revolutionizing the way people around the world see, hear and communicate, in an all cash transaction valued at approximately $11M. The acquisition opens new market opportunities for Kopin and expands their product offerings to its customers. FDD’s ultrahigh-resolution reflective microdisplay is already used extensively within a variety of applications such as high-performance cinematography, training and simulation, 3D metrology and medical imaging. FDD’s proprietary Time Domain Imaging (TDI™) technology provides beautiful high-resolution, full-color images that are critical for these high-end applications. Kopin is the leading transmissive microdisplay company in the world, and with this acquisition will be the only microdisplay manufacturer that can offer complete system solutions with either reflective or transmissive liquid crystal display technologies.

OCZ Technology Group, Inc. (NASDAQ: OCZ) is a leading provider of high-performance solid-state drives (SSDs) and power supplies for computing devices and systems, has launched the ZX Series power supply series to answer consumer demand for a robust high-wattage solution that is also highly-efficient. The ZX Series is designed for best-in-class performance, reliability and also features 100% modular design for the ultimate customization for today’s high-end gaming systems and professional workstations.

OCZ Technology Group, Inc. raised $16.8 million in a private placement at $3.75 per share. Certain shareholders of OCZ Technology Group, Inc. signed definitive agreements with various institutional and accredited investors pertaining to the sale of OCZ common stock. Needham & Company acted as joint-lead placement agent in the offering. The shares were offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. OCZ will not receive any of the proceeds of this sale.

Inphi Corporation (NYSE: IPHI) is a fabless provider of high-speed analog semiconductor solutions for the communications and computing markets, providing high signal integrity at leading-edge data speeds that are designed to address bandwidth bottlenecks in networks, minimize latency in computing environments and enable the rollout of next generation communications infrastructure. Inphi’s solutions provide a vital interface between analog signals and digital information in high-performance systems, such as telecommunications transport systems, enterprise networking equipment, enterprise and data center servers, storage platforms, test and measurement equipment and military systems.

Inphi Corporation raised $94.0 million in its initial public offering at $12 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,020,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Inphi Corporation primarily for working capital and general corporate purposes, including potential acquisitions.

SPS Commerce, Inc. (NASDAQ: SPSC) is a leading provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to thousands of customers worldwide. They deliver solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The SPSCommerce.net platform features pre-built integrations used by current and new customers alike, spanning 2,700 order management models across 1,300 retailers, grocers and distributors, as well as integrations to over 100 accounting, warehouse management, enterprise resource planning, and packing and shipping applications. More than 35,000 customers across more than 40 countries have used SPSCommerce.net, making it one of the largest trading partner integration centers. SPS Commerce is headquartered in Minneapolis.

SPS Commerce, Inc. raised $56.5 million in its initial public offering at $12 per share. Needham acted as a Co-Lead Manager on the transaction.  The Company’s underwriters fully exercised their option to purchase an additional 614,504 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by SPS Commerce, Inc. primarily to repay the indebtedness under equipment term loans that bear interest and mature in the year ending December 31, 2010, December 31, 2011 and January 1, 2012. The company intends to use the remaining net proceeds for working capital and other general corporate purposes, including potential acquisitions.

NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) is developing new treatment options for patients with rare gastrointestinal and endocrine disorders. The company is currently advancing two Phase 3 registration programs. Teduglutide is being evaluated as GATTEX in a Phase 3 registration study known as STEPS for intestinal failure associated with short bowel syndrome and is in preclinical development for chemotherapy-induced gastrointestinal mucositis and other pediatric indications. NPSP558 (parathyroid hormone 1-84 injection) is being evaluated in a Phase 3 registration study known as REPLACE as a hormone replacement therapy for hypoparathyroidism. NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes agreements with Amgen, Kyowa Hakko Kirin, Nycomed, and Ortho-McNeil Pharmaceuticals.

NPS Pharmaceuticals, Inc. raised $56.9 million in a follow-on offering at $5.50 per share. Needham & Company acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,350,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from this transaction will be used by NPS Pharmaceuticals to fund clinical trials of their product candidates (GATTEX and NPSP558), to advance their preclinical research programs, and for working capital and other general corporate purposes.