Tuesday, August 29, 2006Lumexis Closes Series BIrvine-based Lumexis has received a round of venture capital from Zone Ventures, the firm said yesterday afternoon. Lumexis said that it closed a Series B round with Zone, which also included Monitor Ventures and angel investors. Lumexis is developing fiber-optic in-flight entertainment systems, which the firm said does not require electronic boxes under the seat or in the cabin. Lumeix said that the funding will allow it to continue advanced discussions with potential customers, and accelerate (More info...)
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MegaPath To Acquire DSL.net, Gets Equity InvestmentCosta Mesa-based MegaPath, a provider of VPN and managed IP services, announced today that it has made a strategic investment in DSL.net, a over the counter traded firm that provides broadband communications services, as it looks to acquire the firm. MegaPath said that the investment would allow it to acquire substantially all of the equity of DSL.net. MegaPath also said that it received additional funding from existing MegaPath investors for the deal. Amount of the funding was not disclosed. Me (More info...)
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Networks In Motion Names New VPIrvine-based Networks In Motion has appointed a new VP, announcing this morning that it has appointed Shen Zhang as Vice President of New Product Development. Networks In Motion, which is developing wireless, location-based services, said that Zhang will lead all areads of new product development for the firm. Zhang was most recently at Skyworks Solutions, and has also served at NEC America, Mentor Graphics, and Silicon Compile Systems, among other firms. NIM is backed by Mission Ventures, Redpo (More info...)
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Siafu Taps Bell For DistributorPoway-based Siafu Software, a provider of iSCSI storage appliances, has tapped Bell Microproducts as a distributor. Siafu said that the firms are in a distribution agreement, where Bell will offer its storage appliance to its resellers. Bell distributes products to value added resellers and system integrators. Siafu is a developer of iSCSI-based storage appliances, which allow users to connect servers to storage using Ethernet and IP-based network connections.
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VitalStream Gets Win At ABC RadioIrvine-based VitalStream has signed on ABC Radio to provide online ad-insertion and streaming media, the firm reported Monday. Vitalstream said that it will provide Windows Media Streaming Services for the majority of ABC's radio stations and network properties, and will also represent ABC Radio's streaming inventory for advertising sales. Terms of the deal were not disclosed. VitalStream provides streaming media services to online media providers.
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SageMetrics Appoints CEONorth Hollywood-based Sagemetrics, a provider of web analytics and behavioral targeting solutions, said Monday that it has appointed Claudine Grier as CEO. Grier was most recently in business development for Avanade. This is Grier's second stint at the firm, having served in
business development for SageMetrics between 2000 and 2002. Grier has also served at Microsoft and RAM Mobile Data. SafeMetrics products are targeted at online advertisers.
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Used Cardboard Boxes Gets Seed RoundSanta Monica-based Used Cardboard Boxes, a provider of environmentally friendly, used cardboard boxes, has raised seed funding from Funk Ventures and individual investors. The firm recycles used boxes from businesses, and then resells those boxes to people who are moving. The firm will use the new capital to expand to six distribution centers.
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