Monday, June 9, 2008Strategic Vision Consulting Acquired By IT ProviderNew Jersey-based Cognizant, a provider of consulting, technology, and business outsourcing, said Monday that it has acquired substantially all of the assets of Los Angeles-based Strategic Vision Consulting, Inc. Financial terms of the acquisition were not disclosed. Strategic Vision Consulting provides management and technology consulting to the media and entertainment industry, and employs over 60. According to Cognizant, SVC provides consulting and systems implementation for major studios, bro (More info...)
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GenVault Adds $13MCarlsbad-based GenVault, a firm which develops systems for managing biosamples, said this morning that it has raised $13M in additional venture financing. The round was led by Montagu Newhall Associates, and also included prior investors Domain Associates, QuestMark Partners and Cross Creek Capital. C. Ashton Newhall of Montagu Newhall Associates joins the firm's board as part of the funding. GenVault said the funding will go toward commercialization of its proprietary technology, which allows b (More info...)
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Uber Expands BoardLos Angeles-based Uber.com, the new startup headed by former Friendster CEO Scott Sassa, said this morning that it has expanded its board. The firm said it has added Josh Freeman, Ted Meisel, and Michael Wolf to its board of directors. Freeman is currently EVP Digital Media at Discovery Communications, and has also previously served at AOL; Ted Meisel is the former CEO of Overture, is currently executive-in-residence at Elevation Partners, and has also served at CitySearch; Wolf is former Presid (More info...)
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CytRx Acquires Innovive PharmaceuticalsLos Angeles-based CytRx said today that it is in a definitive agreement to acquire Innovive Pharmaceuticals, Inc. Innovive is a biopharmaceuticals company developing oncology drugs. CytRx said it would pay $21.3M for Innovive, in addition to assuming the firm's liabilities. Innovive has four clinical stage oncology drug candidates in various stages of development.
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Allergan Buys Dermatology ProductIrvine-based Allergan said Monday that it has entered into an agreement with QLT USA, to purchase the firm's Aczone (dapsone) Gel 5% product, a topical treatment for acne vulgaris. Allergan said it will pay approximately $150M for all assets related to the product, which it said could reach revenues in excess of $75M per year. Aczone is used for treating acne; the product is expected to launch in Q4 of this year. Allergan is a supplier of pharmaceuticals and other health care products.
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NTS Buys Testing FirmCalabasas-based National Technical Systems announced today that it has acquired Elliott Laboratories, a Sunnyvale-based provider of electromagnetic and wireless regulatory testing services. Financial terms of the acquisition were not disclosed. NTS, which is a provider of engineering, evaluation, and testing services for the electronics industry, said that Elliott will provide electromagnetic compatibility (EMC) design, test, and evaluation services. Elliott Laboratories was founded in 1979.
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Mattell Adds Subscriptions To BarbieGirls.comEl Segundo-based Mattel, the toy manufacturer which owns the Barbie brand, said today that it has launched a subscription based version of its online virtual world, BarbieGirls.com. According to Mattel, the new "V.I.P." version of its virtual world will cost $5.99 a month, and provide a larger virtual world, new games, and new experiences for subscribers. BarbieGirls.com is an online virtual world which allows girls to create their own virtual rooms and interact with friends. Mattel said it will (More info...)
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Socialcast Targets Corporate Social NetworkingIrvine-based Socialcast has launched an upgrade to the firm's corporate social networking software, the firm said this morning. The firm, which is developing social networking software focused on corporate markets, said that the company's software-as-a-service platform is focused on connecting traditional intranets with social networks, and looks to bridge the gap between younger generation of workers and retiring professionals. The firm's corporate social networking software connects with third (More info...)
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