Thursday, September 27, 2007Occam Buys GPON TechnologySanta Barbara-based Occam Networks said Thursday evening that it has purchased certain assets and liabilities of Terawave Communications, a developer of GPON equipment for the optical networking market. Occam said it will pay $3.4M in cash for the assets, in addition to forgiving $1.9M in bridge financing to Terawave, along with the assumption of certain liabilities and purchase commitments. Occam said that the purchase includes GPON technology, products for the Metro Ethernet market, and techn (More info...)
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Disney To Close MVNO ServiceNorth Hollywood-based Walt Disney Internet Group said Thursday morning that it will close its U.S.-based mobile virtual network (MVNO) service later this year. Disney said that it faced a "difficult proposition in the hyper-competitive U.S. mobile phone market" and would close the service on December 31st. Disney's mobile service provided kids- and family-focused mobile services, incorporating content controls and other family-friendly features. Disney said it might include its content and servi (More info...)
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Sequel Pharmaceuticals Spins Out, Raises $20MSan Diego-based Sequel Pharmaceuticals said Thursday that it has raised $20M in a Series A financing, as part of its spinout from NovaCardia. The funding came from Domain Associates, Forward Ventures, InterWest Partners, Montreux Equity Partners, and Skyline Ventures. Sequel Pharmaceuticals is developing biopharmaceuticals for the treatment of atrial fibrillation.
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Ceres Scores $75M From Warburg PincusThousand Oaks, California-based Ceres said Thursday that it has raised $75M in a private offering of convertible preferred stock. The firm, which is developing high-yielding energy crops for cellulosic ethanol production, said that private equity firm Warburg Pincus led the round. Ceres said the funding will go towards research and product development activities for several energy crops. The firm's technology is focused on maximizing plant biomass for biofuel production.
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DECA Raises $5M For Digital Entertainment StudioSanta Monica-based DECA is announcing today that it has raised $5M for an online digital entertainment studio. The firm said that the Series A funding came from Mayfield, General Catalyst Partners, and Atomico Investments, the investment firm co-founded by Skype founder Niklas Zennstrom. DECA said that it will actively identify, develop, finance, market, and distribute interactive entertainment for the Internet and other emerging digital technologies and platforms.
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Switchvox Acquired By DigiumDigium, a provider of IP PBX phone systems based on the open source Asterisk project, said this morning that it has acquired San Diego-based Switchvox, a fellow provider of PBX systems. Financial terms were not disclosed. Digium is the firm behind Asterisk; SwitchVox uses the Asterisk platform as the base for its IP PBX systems, which use commodity PC systems as a replacement for expensive, proprietary PBX hardware. San Diego-based Switchvox was founded as Four Loop Technologies in 2003. Digium (More info...)
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DivX Signs Toolbar Deal With YahooSan Diego-based DivX and Yahoo announced this morning that DivX will distribute a co-branded version of Yahoo's Toolbar and a version of Internet Explorer 7 optimized for Yahoo. Financial terms of the deal were not disclosed. The companies said that the offering replaces third party software which was previously distributed by DivX. As part of the deal, the two companies said they will create links on Yahoo's Toolbar to DivX and its Stage6 online video sharing site.
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CircleUp Launches On FacebookNewport Beach-based CircleUp, a provider of an online service for messaging and group management, said today that it has added a new integrated Facebook application. CircleUp operates a Internet messaging service which allows people and groups to organize and gather answers to questions; CircleUp said its Facebook application is designed specifically to enhance Facebook groups and groups of friends. The new application takes advantage of Facebook's open API, which allows any web site provider to (More info...)
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AeroVironment Gets UAV ContractMonrovia, California-based AeroVironment, which develops unmanned aircraft and electric energy systems, said Wednesday afternoon that the firm has received a contract United States Special Operations Command (USSOCOM). The firm said that the deal will fund development of up to three of the firm's new Global Observer UAVs, and is worth $57M. The deal is potentially worth up to $108M if additional aircraft are delivered. AeroVironment's Global Observers are unmanned aircraft used by the military; (More info...)
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