Tuesday, July 31, 2007Genoptix Files For IPOSan Diego-based Genoptix said this afternoon in a filing with the SEC that it is looking to raise up to $86.25M in an IPO. The firm said that it is looking to list on the NASDAQ Global Market as "GXDX." The IPO is being underwritten by Lehman Brothers, Banc of America Securities, and Cowen and Company; the firm is venture backed by Enterprise Partners, Chicago Growth Partners, William Blair Capital Partners, Alliance Technology Ventures, Tullis-Dickerson, Excelsior Venture Partners, and others. (More info...)
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Red Rocket Acquires Celetronix Power Supply BusinessCamarillo-based Red Rocket announced Tuesday afternoon that it has acquired the switching power supply business of Celetronix Power India Private Limited (CPIPL). Red Rocket, a new firm headed by prior executives of CPIPL and EOS Corporation, said that the deal includes all of CPIPL's product design and manufacturing operations in Mumbai, India, and approximately 105 employees and 550 contract personnel. Financial terms of the acquisition were not disclosed. Red Rocket said it would also take o (More info...)
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US Renewables Group Closes $475M FundLos Angeles-based US Renewables Group announced Tuesday morning that it has closed on $475M in commitments for its second fund, USRG Power & Biofuels Fund II, LP. The fund is focused on renewable power generation, clean fuels, and related logistics projects. Limited partners in the firm were not disclosed, however, the fund said that it was advised by Credit Suisse Securities, which also acted as placement agent for the fund. The original target for the fund was $250M, and the first close was in (More info...)
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My Damn Channel Launches, Scores FundingMy Damn Channel, a new online content startup, said today that it has launched an entertainment studio and new media platform focused on original, episodic video content. The new firm has scored initial funding from Orange County-based Okapi Venture Capital. Amount of the investment was not disclosed. My Damn Channel is headed by Rob Barnett, who was most recently President of Programming for CBS Radio, and has also served at MTV and VH1. Okapi's Marc Averitt has been added to the firm's board o (More info...)
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AdECN's Bill Urschel Speaks On Microsoft AcquisitionLast week, Microsoft announced that it had acquired Santa Barbara-based AdECN (www.adecn.com), a provider of an online advertising exchange marketplace. We spoke with Bill Urschel, the company's CEO and founder, to get more color on the acquisition, how it happened, and where AdECN will fit into Microsoft. Ben Kuo conducted the interview.
What's the story behind the acquisition and how it happened?
Bill Urschel: Actually, it was very straightforward. We contacted them well over a year ago, (More info...)
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Brad Greenspan Continues Quest For Dow JonesInternet entrepreneur Brad Greenspan, the ex-founder of Intermix, is continuing his quest to be taken as a serious challenger to Rupert Murdoch in a bid for control of Dow Jones Corp. Greenspan issued an open letter to Dow Jones shareholders yesterday asking the firm for due diligence material, including Dow Jones/WSJ Internet traffic statistics. Greenspan is offering $600M for Dow Jones, made up of $300M in cash, plus $300M in "online/satellite/cable carriage and technical services" for Dow Jon (More info...)
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Continuous Computing Gets Win At TruePositionSan Diego-based Continuous Computing, a provider of systems and software for the communications market, announced this morning that TruePosition has selected the firm's professional services. Financial details were not released. TruePosition will use Continuous Computing's professional services for engineering expertise in a code project. The firm is a licensee of Trillium's communications protocol software, which it incorporates into its products. Continuous Computing is a porivder of software (More info...)
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Xirrus Signs School DistrictWestlake Village-based Xirrus, a manufacturer of Wi-Fi networking products, said today that it has deployed its products at the Boulder Valley School District. Terms of the deal were not disclosed. Xirrus said its equipment will be deployed at all of the 55 schools in the district, as part of an overall infrastructure upgrade. The network will provide wireless access throughout each school and to surrounding local residents. The firm is venture backed by August Capital and US Venture Partners.
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DivX Certifies Another Samsung HandsetSan Diego-based video codec provider DivX has certified another Samsung phone, the company reported today. The firm said that it has certified Samsuung's Ultra Video (SGH-F508) mobile phone. The phone is the second certified from Samsung, which is incorporating DivX video playback on its handsets. According to DivX certified handsets have undergone rigorous testing for video creation, playback, and interoperability with other DivX certified devices. DivX provides video compression and decompress (More info...)
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Strix Extends Distribution To AfricaCalabasas-based Strix Systems, a provider of wireless mesh networking hardware, has extended its distribution chain to Africa. The firm said this morning that Sameer Group, a Nairobi-based provider of mobile telephone services in Kenya, will distribute its products in sub-Saharan Africa. The deal covers 42 countries and six islands. The VAD agreement is with Kenya Data Networks, a part of Sameer Group. Strix develops a wireless networking product which uses mesh networking to connect separate ac (More info...)
posted on Tuesday, July 31, 2007(Full story)