Friday, August 10, 2007
Overland Storage Names CEO
San Diego-based Overland Storage said yesterday that it has named a new CEO at the tape storage provider, Vern LoForti. LoForti has been Overland's CFO for the past 12 years, and now holds the title of President and CEO. LoForti also serves on the company's board of directors. LaForti takes over the position for Scott McClendon, who was serving as interim president and CEO since the abrupt loss of CEO Chris Calisi in November. McClendon remains as chairman. The appointment came as the firm repor (More info...)

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Interview with Bill Kelley, Digital Performance
Long Beach-based Digital Performance ( is a company which provides a digital catalog of aftermarket automotive parts which it licenses to publications like and Recycler. The firm recently received $500K in early funding from Momentum Venture Partners, and we thought it would be interesting to hear how it is looking to grow its business. We spoke with Bill Kelley, VP of Marketing for the firm, to learn more about the company's industry and what it does. Bill (More info...)

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CalAmp Sells Unit To MIR3
Oxnard-based CalAmp, a providerof wireless products and systems, said yesterday that it is in a definitive agreement to sell its TelAlert software business to MIR3. The deal is worth approximately $10M in cash, a note, and preferred stock. MIR3 is a provider of enterprise notification products. CalAmp said the sale allows it to concentrate on its core satellite and wireless datacom business, and that the equity stake in San Diego-based MIR3 will allow it to participate in future success of the n (More info...)

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KFX Medical Raises $10M
Carlsbad-based KFX Medical said Thursday afternoon that it has raised $10M in a Series B funding round. The company develops minimally invasive percutaneous repair systems, for rotator cuff repair. The round was led by Alloy Ventures, and also included Charter Life Sciences L.P., Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners. Craig C. Taylor of Alloy joins the firm's board of directors as part of the funding.

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Veoh Looks For Court Protection From Universal
San Diego-based online video sharing site Veoh announced Thursday afternoon that it is taking legal action against Univeral Music Group, and is seeking safe harbor under the Digital Millennium Copyright Act (DMCA) from any claims brought by Universal against the firm. Veoh said that the suit is a response to "unreasonable threats" by Univeral Music Group. Veoh did not detail the threats, but said that UMG's actions "are designed to stifle innovation, shut down new markets and maintain the status (More info...)

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Shipwire Scores $4M
Los Angeles-based Shipwire has quietly raised $4M in a venture funding round for its outsourced shipping service, socalTECH has learned. Shipwire maintains warehouses in Los Angeles and Chicago, and handles shipping of products for companies on an outsourced basis. Meakem Becker Venture Capital now lists the firm as part of its portfolio. Damon Schechter, the firm's CEO, declined to comment on the funding round or provide more information on investors.

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Nextivity Raises $16M
Nextivity, a stealth-mode wireless startup located in San Diego, has quietly raised $16M in a venture capital round, according to numbers reported in the PricewaterhouseCoopers/NVCA quarterly venture capital survey. No details on the funding have been released, however the firm's backers now include Advanced Technology Ventures, Revolution Ventures, Express Ventures, and the Founders Fund. The funding apparently closed some time in Q2 of this year.

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Sony Online Entertainment, Virgin Comics Launch MMO
San Diego-based Sony Online Entertainment, the online gaming unit of Sony, and Sir Richard Branson and Deepak Chopra's Virgin Comics said Thursday that they are launching a new masiively multiplayer online video game for the PC based on Ramayan 3392 A.D. The new multiplayer online game, which will be available initially for a PC, will take the characters and settings from the comic Ramayan 3392 A.D. into a MMO game. Ramayan 3392 A.D. is a retelling of the Sanskrit Ramayana tale, re-cast in a sci (More info...)

posted on Friday, August 10, 2007(Full story)

Quest Software Completes ScriptLogic Acquisition
Aliso Viejo-based Quest Software has completed its acquisition of ScriptLogic, the firm said, in a cash deal worth $90M. The acquisition, which was originally announced in June, brings's Scriptlogic's systems lifecycle management solution for Windows into Quest's product lineup. Quest said that the addition of ScriptLogic will broaden is presence in the SMB space and add PC lifecycle management offerings to its product portfolio. Quest said that ScriptLogic had revenues of approximately $20M la (More info...)

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