Tuesday, June 22, 2004


SMC, IP3 Team on Hotspot Capability
Irvine-based SMC Networks and Carlsbad-based IP3 Networks announced that they have partnered to provide a billing, provisioning and authentication system for wireless hotspots. SMC's wireless access points will be combined with IP3's software for automatically authenticating, authirizing, tracking, and billing users for wireless access on 802.11a, b, or g networks. IP3 Networks is backed by the Tech Coast Angels.
posted on Tuesday, June 22, 2004(Full story)

TRI-D Systems Raises $400K
The Pasadena Angels announced that they have invested $250K in Pasadena-based TRI-D Systems, a company developing identity authentication systems based on self-powered biometric smart card systems. The funding came as part of a $400K Series A round. The company's technology provides a smart card with a fingerprint sensor and displays a one-time passcode when the cardholder’s finger print matches the one stored on the card. The company said that the funding would go towards prototype developmen (More info...)
posted on Tuesday, June 22, 2004 (More)(Full story)

MTI Raises $15M In Private Placement
Tustin-based MTI Technology announced today that it has raised $15M in a private placement from Advent International. The funding will result in the issuance of convertible preferred stock and warrants. The company said the new funds would be used to expand its sales and professional services organizations. Advent invests in expansion round funding of technology companies. Michael Pehl of Advent will join MTI's board.
posted on Tuesday, June 22, 2004 (More)(Full story)

SimpleTech Closes Xiran Division
Santa Ana-based SimpleTech has closed its Xiran division (www.xiran.com), which was providing silicon for the iSCSI storage market. In a statement, the company said that the closure would decrease its operating expenses. The division had productized technology and was generating nominal revnues, but the company said that the time table for significant revenue was uncertain, due to slower than expected maturation of the iSCSI storage market.
posted on Tuesday, June 22, 2004(Full story)