Wednesday, November 1, 2006Sponsored ByThank you to the sponsors of socalTECH:
PricewaterhouseCoopers (http://www.socaltech.com/pwctechnology)
Vision To Reality Program for Emerging Tech Companies
Redpoint Ventures (http://www.redpoint.com)
Backing Southern California's next great technology companies.
Silicon Valley Bank (http://www.svb.com)
Helping entrepreneurs succeed.
ARC Investment Partners (http://www.arcinvestmentpartners.com)
Innovative late-stage equity financing for high-growth companies
Costello (More info...)
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MP3tunes To Upgrade OboeSan Diego-based MP3tunes is about to announce an upgrade to the firm's music storage service, Oboe, according to Michael Robertson, the firm's CEO. According to Robertson, the upgraded Oboe 2.0 service has added new album artwork loading features, better synchronization features, and virtual MP3 players for users. Robertson also said that he expects several hardware manufacturers to provide access to the firm's online music lockers in the next few months. MP3tunes offers an online music storage (More info...)
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EMC Buys Avamar TechnologiesMassachusetts-based storage leader EMC Corp. said this morning that it is buying Irvine-based Avamar Technologies, a provider of backup and de-duplication software, for $165M. EMC said that the all-cash deal is expected to be complete within 30 days. Avamar develops disk-based backup technology used to protect corporate data. Avamar has received more than $55M in venture capital from Benchmark Capital, CMGI@Ventures, Goldman Sachs, Lightspeed Ventures, and Morgan Stanley.
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International Rectifier Sells Power Control Systems For $290MEl Segundo-based Interntaional Rectifier said today it has agreed to sell its Power Control Systems business to Vishay Intertechnology, for approximately $290M in cash. IR said that the power business accounted for approximately $300M of the firm's revenue for fiscal year 2006. Product lines included in the transaction include discrete planar MOSFETS, diodes, and rectifiers. The firm said it expects the transaction to close in February of next year.
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Amp'd Looks Overseas To JapanLos Angeles-based MVNO Amp'd Mobile has set its sights on overseas business, announcing yesterday that it will deliver its entertainment content to Japan in a new deal with Tokyo-based KDDI Corp. Amp'd said it will deliver its content via a new portal service, which will be offered to the 20 million users of KDDI's mobile communications service. Amp'd is developing a youth-oriented cell phone service around live video and other content. Amp'd said it expects to launch the service in March of 200 (More info...)
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BandTel Joins Industry GroupNewport Beach-based BandTel, a provider of voice over IP trunking services, said that it has joined the Retail Broadband Alliance, an industry group focusing on businesses migrating to broadband networks. BandTel provides SIP trunking services, which connect business systems into Voice-over-IP. The Retail Broadband Alliance is associated with New Edge Networks, a telecom provider, who BandTel it is using for additonal bandwidth.
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LeadPoint Adds VPLos Angeles-based LeadPoint, a venture-backed firm developing an online lead exchange marketplace, said Tuesday that it has added a new VP to the firm. LeadPoint has tapped Greg Isaacs, who formerly directed eBay's Developers Program, as Vice President, marketplaces. Isaacs has also served at Prudential Securities and Thomas Weisel Partners. LeadPoint is developing an online marketplace for buying and selling consumer leads.
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Veoh Hires Corporate Development ExecSan Diego-based Veoh Networks, which operates a user-generated video sharing web site, said yesterday that it has added a new Senior Vice President of Corporate Development. Joshua Metzger has joined the firm from Overture Services, where he was Senior Vice President of Business Affairs.
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Xtore Rolls Out SAS JBODCity of Industry-based Xtore, a provider of storage products, said this week that it has unveiled a new disk storage system at the Storage Networking World show in Orlando. The firm's new XJ-SA-24-448R-S is a 48-bay "Just-a-bunch-of-disk" (JBOD) enclosure used for connecting disk drives into computer systems. The new drive enclosure supports up to 36TB of serial attached SCSI (SAS) storage.
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Day, Oracle Partner On Java ComponentsNewport Beach-based Day Software said today that the firm has partnered with Oracle to develop JSR 170 components. JSR 170 is a Java standard for managing enterprise content. Further details of the partnership were not disclosed. Day Software is a provider of enterprise content management tools and software.
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