Wednesday, August 27, 2008Userplane's Jones, Thelen Make Departure OfficialMichael Jones and Nate Thelen, co-founders of web software firm Userplane, have both officially stepped down from their positions at AOL, according to a message from Jones Wednesday afternoon. Jones, who was CEO and co-founder of Userplane, and a VP at AOL, and Thelen, who was CTO of Userplane, will both continue as advisors to the firm, with Sam Wick, currently Vice President of Userplane, taking over daily management responsibilities. Jones and Thelen are the CEO and CTO of a new, stealth mode (More info...)
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ValueClick To Buy Back OptionsWestlake Village-based ValueClick said Tuesday in a filing with the SEC, that it is looking to buy back out-of-money stock options from its employees. The firm said that it would purchase up to 4.9 million stock options, with exercise prices ranging from $25.66 to $29.73 per share, issued by the company to employees, officers, and directors in 2007. No reason for the buyback was given, but the firm was last trading around $12.95 per share on the NASDAQ this morning--a significant discount to the (More info...)
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Active Network Raises $80MSan Diego-based The Active Network has raised $80M in a round of funding, the firm confirmed with socalTECH Wednesday. According to a spokesperson for the company, the lead investor in the round was ESPN, with additional funding coming from Canaan Partners, North Bridge Venture Partners, and Performance Equity Partners. According to the company, the firm has now raised over $275M in venture funding since 1999. Active Network said that it had revenues of $102M in 2007. The Active operates a numbe (More info...)
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EMRISE Sells PCB DivisionRancho Cucamonga-based EMRISE Corporation, a manufacturer of defense and aerospace electronics, said Wednesday that it has sold the assets of its printed circuit board business to Sierra Circuits. EMRISE's PCB business, EMRISE Circuit Division, was based in Monrovia, California. According to EMRISE, Sierra will pay $160,000 for the assets of ECD. EMRISE said the sale is a part of a strategic plan to divest the firm's non-core assets and reduce acquisition debt at the company. EMRISE will shut do (More info...)
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Pacific Microwave Research AcquiredVista, California-based Pacific Microwave Research, a developer of analog and digital microwave video transmission technology, has been acquired by Visilink plc, a Masachusetts-based firm. Visilink plc did not disclose financial terms of the deal. Pacific Microwave Research provides products used for covert surveillance, unmanned and aerial vehicle control, and evidence collection by the law enforcement, homeland security, and military. Visilink plc said the acquisition would "significantly" en (More info...)
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EQAL Rolls New SeriesLos Angeles-based EQAL, the online entertainment firm behind lonelygirl15, said today that it will launch a new online serial drama called "LG15: The Resistance". The new series is based on the firm's prior lonelygirl15 and KateModern dramas, and will be distributed through MySpaceTV, imeem, Veoh, YouTube, and Hulu. According to EQAL, the new series will include short videos and multi-media content, and will run for 12 weeks. Among new features of the series, EQAL said it will include puzzles, a (More info...)
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Strix Deploys At RV DealershipCalabasas-based Strix Systems announced today that the firm has deployed its wireless mesh networking hardware at what it calls the largest, single-site RV dealership in North America. According to Strix, it has deployed its Strix Hot-Zone solution at Lazydays RV SuperCenter, a 126-acre RV dealer based in Tampa, Florida. Financial impact of the customer win was not disclosed. Strix said its hardware is being used to provide free, high-speed wireless Internet access to customers and visitors, in (More info...)
posted on Wednesday, August 27, 2008(Full story)