Monday, August 18, 2008MRV Gets NASDAQ WarningChatsworth-based MRV Communications, a manufacturer of networking equipment and optical components, said Monday that it has received a warning letter from the NASDAQ. The firm said the NASDAQ Staff Determination letter indicates that the firm is not currently in compliance with NASDAQ listings requirements. The warning is a result of the delay in filing 10-Q reports for the firm's quarter ended June 30th, and is the first step in delisting procedures for the NASDAQ. MRV said in July that it woul (More info...)
posted on Monday, August 18, 2008(Full story)
True Games Interactive Acquired By Indian FirmOrange County-based True Games Interactive, a developer of massively multiplayer online games, has been acquired by a media and entertainment firm from India, UTV Software Communications. UTV said it is acquiring 80 percent of True Games, through its IG Interactive Entertainment subsidiary. True Games was founded in January of 2008, and is focused on multi-player, online games. The firm was co-founded by Jeff Lujan and Bob Drobish, both formerly of K2 Network.
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CinemaNow Taps Widevine For DRMMarina Del Rey-based video on demand firm CinemaNow has scored an agreement with WideVine Technologies, a provider of DRM software, for its effort to move its products onto consumer electronic devices. The deal was announced by Seattle-based WideVine this morning. No financial details of the deal were announced, however WideVine said that CinemaNow's content will be available on major consumer electronic devices and PCs, using its DRM technology. CinemaNow has been working on expanding the distr (More info...)
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Oversee.net Cuts Staff, Blames EconomyLos Angeles-based Oversee.net, an operator of online marketing and Internet domain name monetization services, quietly cut 10 percent of the firm's staff Friday. A spokesperson for the firm confirmed the layoffs this morning with socalTECH, saying that the cuts were in response to the general economic weakness and pressures in the industry. The cuts were made across all of the firm's three offices, including Los Angeles, Portland, and Florida.
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Teledyne Completes Filtronic AcquisitionThousand Oaks-based Teledyne Technologies said Friday that the firm has completed its acquisition of the defense electronics business of Filtronic PLC. The deal was worth approximately $24.3M, and was originally announced at the beginning of August. Filtronic's Defense Electronics business is based in Shipley, United Kingdom, and manufactures microwave subassemblies and integrated subsystems to the defense industry. According to Teledyne, the Defense Electronics business had sales of £14.5 mi (More info...)
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LumenVox Deploys At GMSan Diego-based LUmenVox, a provider of speech recognition software, announced this morning that it has successfully implemented the firm's speech recongition software in a General Motors product. According to LumenVox, its product has been implemented as part of a speech-enabled, in-car voice dialing systems for GM's ChevyStar product, in Venezuela, Columbia, and Ecuador. GM's ChevyStar is a in-panel car security system and hands-free dialing device. Financial impact of the design win was not d (More info...)
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ARTISTdirect Launches Lyrics SiteSanta Monica-based ARTISTdirect, Inc., a provider of music and entertainment news, said today that it has inked two licensing deals on music lyrics. According to ARTISTdirect, it will provide lyrics to popular songs from EMI Music Publishing and Universal Music Publishing Group, which will allow the firm to add a new lyrics section to its site. Financial details of the licenses were not disclosed. The deal with EMI gives ARTISTdirect access to more than one million lyrics for EMI songs; extent o (More info...)
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Leads360 Partners With Software FirmLos Angeles-based Lead360, a provider of lead management software, announced today that it has partnered with a provider of debt settlement software, Prime Debt Soft. According to Leads360, the move is part of its expansion into the debt settlement and consolidation industry as the mortgage industry has seen a decline. Leads360 said that it has integrated with Prime Debt Soft, whose products are used for debt settlement and credit counseling companies; the firm said it is now serving more than 3 (More info...)
posted on Monday, August 18, 2008(Full story)