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.406 Invests in Ambient Devices

Boston’s .406 Ventures said today that it has “entered into an equity partnership” with Cambridge, MA-based Ambient Devices, known for its Ambient Orb, Ambient Umbrella, and other wireless displays designed to convey useful information at a glance. The two companies did not disclose the size of the investment (which is Ambient’s first from an institutional investor), but a .406 press release made a point of saying that the company’s current leadership team, including CEO Carl Yankowski and founders Pritesh Gandhi and Ben Resner, will continue to head the company—suggesting that .406 may have acquired a large portion of Ambient’s equity in the deal.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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