Wednesday, October 15, 2008


Endologix Gets Unsolicited Offer To Buy Firm
Irvine-based Endologix, which develops medical devices for the minimally invasive treatment of abdominal aortic aneurysms, said Wednesday that it has received an unsolicited offer for the company from private equity firm Elliot Associates. According to the firm, Elliott Associates has offered the firm $2.25 per share for the company. The deal is worth approximately $98M. Endologix said it will consult with its financial advisors and legal counsel on the proposal. The bid for Endologix is the sec (More info...)
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Vicente Capital Partners Raises $150M Fund
Los Angeles-based Vicente Capital Partners said Wednesday that the investment fund has raised $150M for the firm's Growth Equity Fund. The firm said its new fund will invest between $5M and $15M in equity in expansion capital or buyout deals, to companies who have $2M to $25M in revenues and up to $5M in EBITDA. Limited partners in the new fund include CalPERS, Fairview Capital, JP Morgan Asset Mgmt. & Affiliates, LACERS, LA Fire and Police Pensions, New Mexico ERB, New Mexico State Investment C (More info...)
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Ripple Partners With Sales Group
El Segundo-based Ripple, which operates a network of retail digital displays featuring content and advertising, said earlier this week that the firm has partnered with On The Go Media Network. According to Ripple, On The Go Media Network is a sales organization specializing in local and regional sales for the digital out-of-home industry. According to Ripple, On The Go Media Network will serve as its exclusive local/regional sales agency for selling advertising on its network. Financial terms of (More info...)
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X Prize Foundation Launches Healthcare Competition
The X Prize Foundation, the Santa Monica nonprofit focused on encouraging innovation through prize-based competitions, has signed on a sponsor for a new prize focused on improving the nation's health care system. The group--which was behind the Ansari X Prize, which resulted in the first commercial space launch vehicle--said that it is in a collaboration with Wellpoint, Inc., and the WellPoint Foundation to develop a $10M or more competition to to generate new ways to address the nation's seriou (More info...)
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AdEngage Acquired By Technorati
El Segundo-based AdEngage, an online advertising network, has been acquired by blog and Internet search site Technorati, Technorati said today. Financial terms of the deal were not disclosed. According to Technorati, it has acquired AdEngage to launch a new self-service advertising network for blogs and social media sites. AdEngage was founded in 2004, and according to Technorati serves more than 12 billion ad impressions across more than 4,000 sites. AdEngage will become Technorati Engage.
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Interview with Ross Levinsohn, Velocity Interactive Group
This morning, Woodland Hills-based FatTail (www.fattail.com) announced a venture round from Velocity Interactive Group for its software for managing online advertising. Ross Levinsohn is a board member at FatTail and a venture capitalist at Velocity Interactive (www.velocityig.com), and headed up Fox Interactive Media's buy of MySpace. We spoke with Ross about the investment, as well as about his experience as VC and his outlook on the market. Thanks for the interview. For those not familiar w (More info...)
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Eventful Raises $10M
San Diego-based Eventful announced late last night that it has raised $10M in a Series C funding round, led by Telefonica. According to Eventful, the investment round also included existing investors Draper Fisher Jurvetson and Bay Partners. Eventful, which operate an online web site for promoting and sharing information about events, said it will use the new funding to expand sales and marketing, its mobile channel, and international expansion. The funding round brings the company's total raise (More info...)
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Buzznet Joins With The Superficial
Hollywood-based Buzznet, an online site focused on entertainment and pop culture, has linked up with entertainment site The Superficial, the firm said today. Buzznet said that The Superficial will become part of Celebuzz.com, the firm's entertainment focused and social media website. Buzznet will take over all advertising sales for The Superficial, along with providing engineering, design, and marketing support for The Superficial. Financial arrangement of the deal between Buzznet and The Superf (More info...)
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FatTail Raises $3M
Woodland Hills-based FatTail, a developer of online advertising management software, announced this morning that it has raised $3M in a Series A financing round led by Velocity Interactive Group. Velocity Interactive Group is the venture firm headed by former AOL CEO Jonathan F. Miller and former Fox Interactive Media's Ross Levinsohn. According to FatTail, Ted Meisel, former CEO of Overture and president of Yahoo! Search Marketing also participated in the funding. FatTail develops software use (More info...)
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United Online Names Head Of FTD Unit
Woodland Hills-based United Online said Tuesday that the firm has appointed Robert S. Apatoff of the firm's FTD Group subsidiary. Apatoff joins the firm from private equity firm Patriach Partners, and has also served as president and CEO of Rand McNally * Company. Apatoff has also served at The Allstate Corporation, Aetna, Inc., L.A. Gear, Inc., Reebok International, Ltd. and Anheuser Busch, Inc. Apatoff will be based in Illinois, where FTD has its offices. United Online bought FTD in April, say (More info...)
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Abraxis BioScience Names Ops VP
Los Angeles-based Abrais BioScience said this week that it has hired on Edward C. Geehr, M.D. as Executive Vice President of Operations. The biotechnology firm said that Dr. Geehr will be responsible for the commercial, manufacturing and marketing operations of Abraxis. Geehr joins the firm from Allez Spine, and has also served at IPC - The Hospitalist Company, UniHealth America, and was an assistant clinical professor of medicine and surgery at the University of California, San Francisco. Geehr (More info...)
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