Thursday, March 2, 2006Apax Invests $29M In PictageTorrance-based Pictage has received an investment of $29M from Apax Partners, which said that it is acquiring a majority ownership interest in the firm. The funding will be used to provide the company with growth capital. Pictage provides an online service geared towards professional photographers, hosting images, printing, and other services for wedding and other photographers. Oren Zeev, General Partner at Apax, and Adil Haque, VP of Apax, will join the firm's board of directors.
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PeopleSupport Opens Facilities In Costa RicaLos Angeles-based PeopleSupport, a business process outsourcer, said yesterday that the company has expanded into customer services in Spanish and opened up a customer support center in Costa Rica. The firm said that it will provide Spanish and bilingual customer management services for a Fortune 500 client from facilities in San Jose, Costa Rica. The firm also said that it will provide English support in its existing facilities in the the Phillippines. PeopleSupport provides account management, (More info...)
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Streamload Scores Win At Travel ChannelSan Diego-based Streamload reports that the firm has been selected by Discovery Communications, the broadcaster behind the Travel Channel, for a new serires called 5 TAKES. Streamload's online video hosting service will be used by the channel to allow vieweres to submit their own videos. The Streamload platform was used by the producers of the 5 TAKES show to review viewer submissions for inclusion on online webisodes. Streamload provides a service that allows users to upload and share streaming (More info...)
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Autobytel Appoints New CEOIrvine-based Autobytel has named a new CEO and President. The firm has appointed James Riesenbach to the positions, saying that he will assume leadership of the company at the end of the month. Riesenbach will also join the company's board of directors. In conjunction with the appointment, the firm said that it is no longer pursuing a sale of the company. Riesenbach was most recently at AOL's Search and Directional Media Group, where he managed AOL's search properties and businesses. Rick Post, (More info...)
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Gores Group Completes Enterasys Networks BuyLos Angeles-based private equity firm The Gores Group and Tennenbaum Capital Partners said that the firms have completed their $386M buy of network hardware maker Enterasys Networks. The private equity firms purchased publicly held Enterasys, taking the company private. Enterasys is a maker of multilayer switches, routers, WAN routers, wireless LAN hardware, and other network devices.
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Avid Buys MedeaAvid Technology, a provider of systems for content creation and media, has acquired Westlake Village-based Medea, a provider of video optimized RAID arrays and storage. Terms were not disclosed. Avid announced the deal as part of the launch of a new family of storage systems based on Medea's VideoRAID technology. According to the firm, the acquisition was made in January of this year, and will help it expand its position as a leading provider of high-performance storage solutions for content cre (More info...)
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Gateway Pays HP $47M For Licensing infringementsIrvine-based PC maker Gateway will pay Hewlett Packard $47M to settle a lawsuit over patent infringement. Gateway said yesterday that the companies have reached a settlement to release all claims in the litigation, with Gateway paying $25M on execution of the agreement and $22M a year after that date. The agreement covers the firm's PCs from 1999 to the present. As a result of the settlement, Gateway said it will take a charge of $16.7M for the quarter and year ending December 31st. It will amor (More info...)
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