Monday, July 2, 2007Ticketmaster To Acquire PaciolanWest Hollywood-based Ticketmaster, an operating business of Barry Diller's IAC, said Monday afternoon that it is in a definitive agreement to acquire Irvine-based Paciolan. Financial terms of the deal were not disclosed. Ticketmaster said it plans to operate Paciolan from its Irvine location, and that it will retain David Butler, the CEO of Paciolan and the company's current management team. Paciolan is backed by Technology Crossover Ventures, Argentum Capital Partners and Marwit Capital Compan (More info...)
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SK Telecom, Earthlink Planning $200M Injection In HelioReuters is reporting that SK Telecom and EarthLink are planning to put up to $100M each in Helio, the Los Angeles MVNO headed by Sky Dayton. According to the report, which quotes a SK Telecom spokeswoman, the initial investment in Helio has been spent, and the firms will need to inject more money during the second half of the firm. Helio is developing a youth oriented, wireless service geared tied into providing instant messaging, MySpace, and other 3G services to the US market. SK Telecom and E (More info...)
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ViewSonic Files For IPOWalnut-based ViewSonic, a manufacturer and marketer of LCD monitors, TVs, and projectors, said in an SEC filing today that it is looking raise up to $143.75M in an IPO on the NASDAQ Global Market. The firm's IPO is being underwritten by JPMorgan, Banc of America Securities, Thomas Weisel Partners, and Needham & Company. The firm said in its filing that it had net income of $3.9M on revenues of $409.838M for the three months ended March 31, 2007; for the year, the company reported $24.2M on reven (More info...)
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ZyXel Extends Distribution AgreementAnaheim-based ZyXEL Communications, a supplier of broadband and other networking equipment, said today that it has partnered with Jenne, a distributor of business telephone, data, video, and computer telephony products. Jenne will distribute the firm's Ethernet switches, wireless access points, and other products to the North American market. ZyXEL said the deal includes the firm's comprehensive line of enterprise-class networking products.
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NextWave Wireless Expands Into Latin AmericaSan Diego-based NextWave Wireless said Monday morning that it has launched a Latin American business unit, based out of Sao Paulo, Brazil. The developer of mobile broadband products and technologies said that the new unit will deliver its products to customers throughout the Latin American region. The unit will be headed by Rafael Steinhauser, who was head of Qualcomm South America, president of Nortel Networks Brazil, and also president of Cisco's Brazilian division. NextWave Wireless develops (More info...)
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Local.com Trumpets Patent For 411 ServicesIrvine-based Local.com said today that it has been awarded a patent by the U.S. Patent and Trademark Office for a method for enhancing directory assistance calls. According to the U.S. Patent and Trademark filing, the patent, number 7,200,413, was granted in April of this year. The patent filing names William A. Montemer and Heath B. Clarke, chairman and CEO of Local.com, as inventors. According to Local.com, the patent covers a system and method for providing businesses with referral advertisin (More info...)
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Venture-backed IPOs Gain, Acquisitions Slip In Q2Thomson Financial and the National Venture Capital Association (NVCA) announced today that venture backed IPOs saw an increase in Q2, while merger and acquisitions activity declined in the quarter. THe firms released an "Exit Poll" report on the market, finding that there was $4.27B raised in initial public offerings in the second quarter, more than double the amount raised in the same period last year. However, the study also found that merger and acquisition activity declined compared with las (More info...)
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MRV Closes Fiberxon AcquisitionChatsworth-based MRV Communications said today that its subsidiary, Luminent, has closed its acquisition of Fiberxon, a provider of transceivers for the optical networking market. The deal, which was previously announced in January, was worth approximately $131M in cash and stock. MRV is combining Fiberxon with Luminent into a single company focused on manufacturing of optical transceivers for the telecommunications market. Merrihan Curhan Ford & Co. advised MRV Communications in the deal.
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BroadWebAsia Invests In Chinese Video SitesBroadWebAsia, the investment firm headed by former Intermix head Brad Greenspan, aid today that it has invested in Mofile.com and Hubotv.com, two online video sites focused on China. Both sites provide online video sharing, social networking and other services to the Chinese market. Financial terms of the deal were not disclosed.
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Linspire Joins Open Source Document EffortSan Diego-based Linspire announced this morning that it has joined an effort to create XML to Microsoft Office translators for the open source market. The provider of a desktop Linux operating system distribution said it will join with Microsoft, Novell, and Xandros to create bi-directional translators between ODF and Open XML. The firm will include those translators in future versions of its software. ODF is an open standard for exchanging information about word processing, spreadsheet, graphi (More info...)
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Autobytel Sells Marketing Unit To CallCommandIrvine-based Autobytel said today that it has sold its Retention Performance Marketing business (RPM) to CallCommand, in a deal worth $7.6M. The firm's RPM business was focused on providing online marketing to automotive dealers. Autobytel said that the sale allows the firm to focus on its goal of becoming the leading online automotive experience and destination for consumers. According to Autobytel, the deal includes 53 employees, who will join CallCommand. Autobytel is a provider of automotive (More info...)
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Telelogic Signs Defense DealIrvine-based Telelogic said today that it has signed a $790K deal with a information solutions provider to the defense and aerospace business. Name of the new customer was not disclosed, but Telelogic said the new customer is a leading supplier of information solutions for the defense, space and homeland security industries. Telelogic said it will provide software licenses, services, and first year maintenance to the firm. Telelogic is a provider of software used for embedded and real time syste (More info...)
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International Rectifier Loses CFO, VPEl Segundo-based International Rectifier has lost two executives saying today that the company's board of directors has fired Michael P. McGee, the company's Executive Vice President and Chief Financial Officer. The company also said that Robert Grant, the company's Executive Vice President of Global Sales and Marketing, has resigned. No reason for the executive changes were given, however the firm had previously announced an internal investigation over accounting irregulatories, which continues (More info...)
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