Friday, August 31, 2007Interlink Completes Sale Of UnitCamarillo-based Interlink Electronics announced Friday morning that it has completed its sale of its OEM Remotes and Branded Products business segments. The deal was worth $11.5M in cash. The firm had announced plans for the sale to SMK Electornics Corporation August 15th. Interlink said it would use the proceeds from the sale to advance the firm's strategic business initiatives, and to focus on its E-transactions and Specialty Components business.
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Sony To Shut Down CONNECTSony announced Thursday that it is looking to shut down its proprietary Connect music download service, and is moving its services to the Windows Media platform. Sony's Connect was an online music store which promoted Sony's proprietary ATRAC music format, which has not been adopted by other digital music player manufacturers. According to the Connect web site, the service will not shut down before March 2008, and it is now recommending that users of the firm's proprietary SonicStage software co (More info...)
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ProfitLine Appoints COOSan Diego-based ProfitLine has named a new COO, saying earlier this week that Keith Boyle has been appointed as Chief Operating Officer at the company. Boyle has been at ProfitLine since 2006, and was most recently Senior Vice President of Operations. ProfitLine provides outsourced telecom expense management for large companies, and is venture backed by FTVentures and Menlo Ventures.
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Red Mango Scores FundingRed Mango USA, a Los Angeles-based retail chain of Korean-style, frozen yogurt stores, has raised a round of venture capital from Stone Canyon Venture Partners. Amount of the investment has not been disclosed. Red Mango is expanding the South Korean Red Mango chain of natural frozen yogurt into the United States, and recently opened stores in Los Angeles and Las Vegas. Stone Canyon Venture Partners is an $80M, Beverly Hills-based venture firm.
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Luxtera Taps Broadcom Exec For CEOCarlsbad-based Luxtera said this week that it has appointed Greg Young as the firm's new President and CEO. Young was most recently Vice President and General Manager of Broadcom's Ethernet Controller and High Definition Media PC Video business units. Young has also served at Intel. Young replaces Alex Dickinson, who was just appointed CEO of Carlsbad-based Helixis, a firm developing medical diagnostic products. Dickinson remains on Luxtera's board of directors. Luxtera is venture backed by New (More info...)
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Realtor.com Looks To Spur Real Estate BloggersLos Angeles-based Realtor.com, the online real estate listings site run by Move.com, said earlier this week that it is looking to spur blogging on its web site by Realtors. The firm said that it will help Realtors to create blogs, and post articles, comments, and messages on both the Realtor.com web site as well as within personal web sites. The company said that its new blogging program is designed for non-technical users who don't know HTML.
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