Tuesday, February 7, 2006
MovieBeam Gets Investment
Disney's failed MovieBeam venture has resurfaced with $52.5M in funding, according to a regulatory filing. The Disney spinoff, which provided video on demand services over broadband, shut down in April of 2005, after issues related to its test in several markets. According to the filing, MovieBeam has now received funding from Cisco, Intel Capital, Mayfield, and Norwest Venture Partners, along with ABC.

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Rockwell Scientific On The Block
The Wall Street Journal is reporting today that Rockwell Collins and Rockwell Automation have put up their Thousand Oaks-based research and design center up for sale. Rockwell Scientific, which employs 450 in its Thousand Oaks location, provides research and development for the U.S. Government and other entities, including the U.S. military, DARPA, the Department of Energy and commercial firms. The firm is jointly owned by Rockwell Collins and Rockwell Automation. Rockwell Scientific also mainta (More info...)

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Yahoo Upgrades Music Engine
Yahoo Music today said that it has released a new version of its music software application, Yahoo! Music Engine. The upgraded music application adds the ability to create playlists, synchronize music with portable devices, and broadcast music from the service to home networks. The playlist feature allows music fans to share their music with others via email or Yahoo's instant messaging software. The application is part of Yahoo's subscription music download service. Yahoo Music is part of Yahoo (More info...)

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TagWorld Gets Funding From DFJ
Santa Monica-based TagWorld, a firm developing online social networking software for the youth market, disclosed today that it has received an investment from Draper Fisher Jurvetson. Amount of the funding was not disclosed. As part of the funding, Tim Draper is joining the company's board of directors. Draper is best known for his investments in Skype, Baidu, Overture, and Hotmail. TagWorld is developing software tools for creating personal social networking pages, and is targeting the MySpace (More info...)

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StoneFly Acquired By Dynamic Network Factory
San Diego-based StoneFly Networks has officially been acquired by Dynamic Network Factory, a provider of storage products and services. As reported in December by socalTECH, StoneFly Networks had changed its name to StoneFly, and had confirmed that it had received a strategic investment from DNF. StoneFly said today that the name change was a part of the acquisition by DNF. StoneFly will operate as a wholly owned subsidiary of DNF witha focus on iSCSI storage solutions. StoneFly had received $34 (More info...)

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Conexant Loses Round In GlobespanVirata Patent Case
Newport Beach-based Conexant is reporting today that it has received an unfavorable verdict in a patent lawsuit pitting Texas Instruments and Stanford against Conexant's GlobespanVirata subsidiary. A jury in the U.S. District Court for the District of New Jersey has found that GlobespanVirata willfully infringed on three patents related to asymmetric digital subscriber line (ADSL) technology, and ordered Conexant to pay $112M in damages to Texas Instruments. The lawsuit is a countersuit to one t (More info...)

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DMX Music Moves To Texas
The Austin Business Journal is reporting that DMX Music, a Los Angeles-based digital music firm, is moving to Austin. The paper reports that THP Capstar, the new owner of DMX Music, is moving its headquarters to Austin out of Los Angeles. DMX Music provides digital music systems to businesses and airlines. The firm was purchased out of bankruptcy by THP Capstar in May of last year, and currently has over 500 employees.

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IT Solutions Provider Acquired
Datatran Network Systems, a Newbury Park-based IT solutions provider, has been acquired by Houston-based INX. DNS deploys IT telephony and Cisco-based networks for companies in the Southern California region. Terms were not disclosed. INX said that Datatran has annual revenues of about $10M. Datatran will become INX's Los Angeles branch office.

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