Tuesday, July 1, 2008
Providea Gets Investment From Private Equity Firm
Camarillo-based Providea, a provider of hardware and installation services for the video conferencing sector, has scored an investment as part of a recapitalization deal, the firm said Tuesday. According to Providea, it has received a growth equity investment from WestView Capital Partners, but did not disclose details of the funding. Providea provides video conferencing solutions, managed services, installation, and support. The firm said that it was advised by new Century Capital Partners in t (More info...)

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Report: No IPOs In Q2
Dow Jones VentureSource, a provider of venture capital data, reported Tuesday that we are in the midst of the second-longest IPO drought since it started tracking the industry in 1992. According to Dow Jones, Q2 of this year was the worst quarter since 2003, with no initial public offerings of U.S. venture-backed companies in the quarter. During the quarter, there were 10 companies which withdrew their IPO registrations, with 22 venture-backed firms still in IPO registration. Dow Jones also repo (More info...)

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Dataskill Buys Silicon Space
San Diego-based Dataskill Inc., a provider of IT and software services, has acquired fellow software product development firm Silicon Space, Dataskill announced Tuesday. Financial terms of the deal were not disclosed. Silicon Space is a provider of outsourced software development and design services. According to Dataskill, all employees of Silicon Space will join the firm, and Curt Nelson, former President and CEO of Silicon Space, will join its advisory board. Dataskill said that its clients i (More info...)

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VirtualTourist.com, OneTime.com Acquired By TripAdvisor
VirtualTourist.com Inc. and Onetime.com Inc, two Manhattan Beach-based online travel web sites, have been acquired by online travel information web site TripAdvisor LLC, which is owned by Expedia Inc. Financial details of the acquisitions were not disclosed. VirtualTourist.com provides user-generated travel content, and OneTime.com is an online travel booking comparison web site. According to TripAdvisor, VirtualTourist General Manager Giampiero Ambrosi and OneTime General Manager Dena Yahya wil (More info...)

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RealD In Deal With Cinemark
Los Angeles-based RealD, a provider of technology for 3D projection of motion picture films, has inked a deal with Cinemark Holdings to add 1,500 new screens. According to the two companies, Cinemark will add up to 1,500 RealD 3D screens to its circuit, which will up the total number of screens with RealD's technology to 5,000. Financial impact and terms of the deal were not disclosed. RealD develops technology used for showing 3D films. Cinemark is a motion picture theater operator with 408 the (More info...)

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eHow Enhances How-To Site
Santa Monica-based eHow, the online information site owned by Demand Media, has rolled out a new "Quick Guide" feature on its web site, saying that the new feature will show the most frequently requested topics and articles from the site in specific verticals. eHow provides short articles and videos on various "how-to" topics, ranging from computer topics, to changing your oil. The new feature bundles together similar topics--for example, articles about gardening--under a single page. The firm s (More info...)

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Specific Media Turns To Ford For VP
Irvine-based Specific Media, an online advertising network, revealed Tuesday that it has hired Jon Schulz as the firm's Senior Vice President, Global Category Development. Schulz was most recently at Ford Motor Company, where he headed the auto maker's digital and direct marketing. According to Specific Media, Schulz headed up Ford's digital media, brand websites, emerging media, dealer lead management and CRM efforts. Specific Media is one of the largest online advertising networks, and provide (More info...)

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Rubicon Teams With AdJug For European Advertising
Los Angeles-based the Rubicon Project, which operates a service which optimizes online advertising for publishers, said today that it has partnered with AdJug Ltd, an online advertising marketplace. According to Rubicon, the deal calls for AdJug to monetize the UK inventory of Rubicon Project's U.S. publishers. AdJug is a London-based online advertising firm serving the European market. Financial details of the partnership were not disclosed.

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Or Die Networks Launches Game Site
Los Angeles-based Or Die Networks, the company behind Will Ferrell's FunnyOrDie.com web site, said today that it has launched a new web site focused on the video game industry, PwnorDie.com. Or Die Networks said that the new site will focus on breaking news, information, commentary, and entertainment around video games. The site will feature both user generated and other gaming videos, content from major game companies, game walkthroughs, and will also cover major gaming events; the site will be (More info...)

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eForce Media Acquires Firm, Appoints Former Autobytel Head As CEO
Santa Monica-based eForce Media, a provider of Internet sales lead generation services, said today that it has acquired Vertical Passion Media, LLC and appointed its founder, Jeffrey Schwartz, as President and CEO. Schwartz is the former president and CEO of Autobytel. Financial terms of the acquisition were not disclosed. Vertical Passion Media LLC operates a number of online destinations in the auto classified and other lead generation areas, and was founded and headed by Schwartz. Schwartz ha (More info...)

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STEC Gets Credit Facility
Santa Ana-based STEC, a developer of Flash memory and DRAM memory products, said Monday that the firm has accepted a $35M, senior unsecured revolving credit facility from Wachovia Bank. According to STEC, it will use the new credit facility to support accelerated growth in the firm's future quarters. The credit facility will go towards working capital. STEC said the credit facility has a term of two years, at a floating rate equal to LIBOR plus 0.70 percent to 1.20 percent, depending on its leve (More info...)

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