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April 16, 2008

PenBay Media to expand in Europe, VA

Penobscot Bay Media, a technology company in Camden, will expand into Europe and Virginia over the course of the next six weeks, Ann Yahner, the company's president, told Mainebiz this morning.

The company plans to launch a subsidiary in Europe -- Yahner could not be more specific -- within the next two to three weeks, and a subsidiary in Falls Church, Va., within the next four to six weeks, Yahner says. The company's expansion is based on robotic software technology it's been developing that has applications in several markets, including real estate, public safety, green building, and Wi-Fi, Yahner says. The Virginia subsidiary, which will be close to the federal market that is the basis for 70% of PenBay Media's business, will be the home base for the robotic team, while the European subsidiary is the result of a European investor who will target one of those markets, Yahner says. PenBay is looking for investors to target other market applications for its technology.

The company -- which does work in Web application development, film and video in addition to developing robotic technology -- has increased its workforce in Camden from 17 a little more than a year ago to 40 today. However, Yahner says she can't find enough skilled workers in Maine. "One of biggest problems is finding the skilled people we need," she says. "And I think we're suffering from that."

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