Wednesday, September 26, 2007Vistera Systems AcquiredSanta Barbara-based Vistera Systems, a developer of online business intelligence software for hotel operators, has been acquired by Vistera Group LLC, an investment group formed to acquire the firm. Financial terms were not disclosed. Vistera Systems provides web-based software used by hotel operators to manage their hotel portfolios. Massachusetts-based Vistera Group LLC is planning to use Vistera's technology to compete in the hotel intelligence and data market. Vistera was founded by Tom Frag (More info...)
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Activision Buys Bizarre CreationsSanta Monica-based Activision said Wednesday morning that it has acquired Bizarre Creations, a U.K.-based developer of racing games. Financial terms of the deal were not disclosed. Bizarre Creations is creator of the racing game Project Gotham Racing for Xbox and Xbox 360; the firm also develops arcade game Geometry Wars on Xblox Live Arcade, and is working on The Club for SEGA. Bizarre Creations will become a wholly owned subsidiary of Activision. Bizarre Creations employs 160 in its studios in (More info...)
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Interview with Bert Armijo, 3TeraUntil recently, infrastructure companies have been completely eclipsed by the interest in Web 2.0 media darlings. However, investors and others are suddenly paying attention to the success of server virtualization and "utility computing" companies, who have been doing well despite the lack of press and sexiness. In an effort to look closer at companies in the infrastructure area, we recently talked with Aliso Viejo, California-based 3Tera (www.3tera.com). 3Tera is developing an interesting prod (More info...)
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Zag Raises $13.5MSanta Monica-based Zag said today that it has raised an additional $13.5M in financing, in a deal led by the Capricorn Investment Group. Zag, which develops auto buying software which links automobile dealers and affinity groups like credit unions, said that the round brings the company's total raised to $46M in equity, alongside $21M in debt financing. Zag said the investment from Capricorn comes on top of existing support from GRP, Capital One, and Anthem Ventures. Zag is headed by Scott Paint (More info...)
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Demand Media Reportedly Raises $100MLos Angeles-based Demand Media has reportedly raised another $100M in venture funding. A spokesperson for the firm did not respond to requests by socalTECH for comments on the venture funding, however sources close to the firm confirmed that the company had just closed a round. Demand Media is the new media firm headed by former MySpace chairman Richard Rosenblatt, which owns eNom, Answerbag.com, eHow.com, and other web sites. Private Equity HUB reported that the round was led by Goldman Sachs, (More info...)
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Cleantech Investments SurgeErnst & Young and Dow Jones VentureOne are reporting today that the investments in clean technology companies this year have reached $1.1B in the first half of 2007. The research, which was released today, found that clean technology investments are poised to increase by more than 35% this year compared to last. Among the findings in the report were that the U.S. had 71 venture deals in the first six months of 2007, totaling over $893M; the report found that clean technology's share of overall v (More info...)
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LeisureLink Appoints Finance VPPasadena-based LeisureLink said today that it has hired John Hoang as the firm's Vice President of Finance. Hoang joins the firm from online travel firm DC New Media, where he was president and founder. Hoang has also served at Overture Services and Arthur Andersen. The appointment came on the heels of the firm's announcement yesterday of a $8.1M venture round. LeisureLink provides a service which connects vacation lodging operators with online travel sites and travel agents.
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Intercasting Gets Win At BoostVenture backed Intercasting, the firm behind the Rabble mobile social networking service, said today that it has been selected by Boost Mobile to power a new social networking feature on Boost's ANTHEM service. Financial terms were not disclosed. Intercasting said that it will provide an interface to social networking sites including LiveJournal, Vox, Xanga, AsianAve.com, BlackPlanet.com, Faithbase.com, GLEE.com, MiGente.com and its own Rabble site for Boost. Intercasting is backed by Avalon Ven (More info...)
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Mindspeed Completes Acquisition of Ample CommunicationsNewport Beach-based Mindspeed said today that it has completed its acquisition of the product portfolio and intellectual property assets of Ample Communications. Financial terms were not disclosed. Mindspeed had announced earlier this month that it would acquire the assets out of a private foreclosure sale from Ample's senior creditor. Ample was a developer of media access controller (MAC) chips.
posted on Wednesday, September 26, 2007(Full story)