Thursday, December 14, 2006Intuit Buys Electronic Clearing HouseMountain View-based Intuit said Thursday afternoon that it is acquiring Camarillo-based Electronic Clearing House, in a deal worth $142M in cash. Intuit said it has signed a definitive agreement to acquired ECHO for $18.75 in cash for each share of ECHO common stock. Electronic Clearing House is a provider of payment processing serviecs, including check, bank card, check verification, and other serviecs. Intuit said it made the acquisition to enhance its leadership position with small and medium (More info...)
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Guidance Software IPO Hits MarketPasadena-based Guidance Software, a provider of software used for computer forensics, debuted yesterday on the Nasdaq. Guidance offered 5,000,000 shares of its common stock at $11.50 per share, in a $57.5M IPO. The IPO was underwritten by Morgan Stanley & Co., Lehman Brothers, Wachovia Capital Markets, and A.G. Edwards & Sons. Guidance is now trading under the symbol GUID on the Nasdaq, and closed at $15.18 per share after its first day of trading.
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Ophthonix Raises $35.1MSan Diego-based Ophthonix, which develops and markets high resolution wavefront guided lenses for vision correction, said today that it has raised $35.1M in a Series D funding. The round was led by DAG Ventures and new investor Palo Alto Investors. Existing investors also participated. The fund's current investors are Enterprise Partners Venture Capital, Kleiner Perkins Caufield & Byers, Gund Investment Corporation, InterWest Partners, Trex Enterprises and Wasatch Advisors' Cross Creek Capital F (More info...)
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Obagi Medical Prices IPOLong Beach-based Obagi Medical Products, a pharmaceutical firm focused on skincare, said today that it has priced its IPO on the NASDAQ. Obagi is offering 5,350,000 shares at a price of $11.00 per share, and is looking to raised up to $38.4M in the offering. The IPO is being underwritten by J.P. Morgan Securities, CIBC World Markets, Thomas Weisel Partners, and Robert W. Baird & Co.
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Fonpods, Americast Partner On Mobile NewsLos Angeles-based startup Fonpods and Seattle-based The Americast Network said Thursday that the two have partnered to deliver local newspaper content to cell phones. Americast will use Fonpods platform to allow readers to retrieve local newspaper content and podcasts. Fonpods platform connects phone calls to podcast content. The Americast Network publishes audio news summaries for independent newspapers.
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Onset Medical Names CEOIrvine-based Onset Medical, which is developing medical devices and procedures for minimally invasive surgery, said this week that it has promoted Joseph Bishop to President and CEO. Bishop has been at Onset since 2004, after serving at Guidant Corporation, CardioVascular Dynamics, Radiance Medical, and Endologix. Bishop was most recently VP and COO for Onset. Onset is backed by Frantz Medical Ventures and Bio-Star Private Equity.
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Qualcomm Names COO, Adds VPSan Diego-based Qualcomm has named a new COO, and appointed an EVP, the firm said yesterday. Qualcomm has named Dr. Sanjay K. Jha as COO for the firm, and that it has added Len J. Lauer as corporate EVP and group president. Jha will oversee the firm's Corporate Research and Development, Flarion Technologies, and CDMA Technologies group. Lauer will oversee its Wireless Business Solutions, MEMS Technologies, Government, and MediaFLO units. Jha has been at Qualcomm for over 10 years. Lauer was most (More info...)
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