Friday, October 24, 2008CADFORCE Acquired By Neilsoft Ltd.Marina Del Rey-based CADFORCE, a venture-backed provider of CAD support services, has been acquired by Puna, India-based Neilsoft Ltd. CADFORCE co-founder James Katz told socalTECH.com that the firm will remain in Marina Del Rey, with the whole team staying on. CADFORCE has about 30 employees in California, while Neilsoft has 850 employees split between India, Chicago, and Frankfurt, Germany. Katz said that Neilsoft has primarily been focused on engineering aspects of the CAD business, whereas C (More info...)
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Digital Performance Raises $3.2M, Hires CEOLong Beach-based Digital Performance, which develops technology for online sales efforts in the after market automotive parts sector, is announcing Monday that it has raised $3.2M in a Series A funding round. The round was led by Rincon Venture Partners, and also included Arcturus Capital and Momentum Venture Management. According to Momentum Venture Management, which announced the deal, the round has not yet closed and is adding a "small amount" of additional capital before closing the round. D (More info...)
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Intent.com Launches Wellness SiteSanta Monica-based Intent.com said Thursday that it has launched a new web site focused on wellness and social networking. The site--which was co-founded by Deepak Chopra's daughter, Mallika Chopra--said it is looking to create a community of like-minded members, blogs from wellness experts, and other curated online content. The new site fatures blog posting from Deepak Chopra, Olivia Newton John, Ed Begley Jr., Fran Drescher, and many other celebrities; the site will also feature articles from (More info...)
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Phenomix Gets $75M In Deal With Forest LabsSan Diego-based biopharmaceuticals firm Phenomix will receive $75M in an upfront payment, and up to $340M total, in a deal with Forest Laboratories, Inc., the firms said Thursday. According to the companies, they are in a definitive collaboration agreement to develop and commercialize dutogliptin, the small molecule drug for treating diabetes that Phenomix is developing. The move comes a day after Phenomix withdrew its IPO from the Nasdaq, citing market conditions. According to Phenomix and Fore (More info...)
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Audyssey Lands $2.5MLos Angeles-based Audyssey Laboratories, the audio technology firm whose founders include Tomlinson Holman, inventor of THX, has quietly raised $2.5M more in venture funding. The funding was disclosed in this week's PricewaterhouseCoopers/NVCA venture capital report. Details of the funding were not disclosed, however, the firm has previously raised capital from Antehm Ventures. Audyssey's sound equalization technology is being used for the home theater market, and the firm recently announced a w (More info...)
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FrameMax Raises $10MSan Diego-based FrameMax has raised $10M in a round of venture capital, for the firm's light gauge steel framing technology for the construction industry. The round was led by Arcapita Ventures, and also included H.I.G. Ventures, Cross Creek Capital, and NVestech. The round was announced last month. According to FrameMax, its turnkey solutions offers faster construction at competitive or below normal construction costs. Ramsay Battin of Arcapita Ventures has joined the firm's board as part of th (More info...)
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Day Software Hires Marketing HeadNewport Beach-based Day Software, a developer of content management software, said this week that it has appointed Kevin Cochrane as the firm's Chief Marketing Officer. Cochrane joins the company from Alfresco, where he was VP of Product Management. Cochrane has also served at Interwoven, where he was the fourth employee, Day Software said. Day Software's products are used for enterprise content management, for managing web site content, and related efforts.
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Report: Break.com Cuts StaffBeverly Hills-based online entertainment site Break.com has reportedly laid off 11 staffers, according to a report by CNET. Break.com's CEO Keith Richman, which focuses its efforts on providing videos, games, and other entertainment for men, told CNET that the firm is planning to hire the same number of people in the future, with different skill sets.
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Xirrus Rolls Out New HardwareThousand Oaks-based Xirrus has rolled out a new Wi-Fi array, the firm said earlier this week, the Xirrux XN8. Xirrus develops switched wireless Wi-Fi hardware which combines multiple Wi-Fi access points in a single piece of hardware. The firm's products are targeted at providing higher bandwidth and coverage than standard Wi-Fi access points. According to Xirrus, its new Wi-Fi array provides 802.11abg+n, and includes 8 integrated access points, a multi-gigabit switch, full line-rate encryption, (More info...)
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BasePoint Targets UK LendersCarlsbad-based BasePoint Analytics, a developer of software for risk management and scoring, said earlier this week that it has rolled out a pattern recognition fraud product targeted at the UK mortgage business. According to BasePoint Analytics, its FraudMark for Origination UK helps lenders detect fraud in mortgage applications in the UK. Pricing of the product was not disclosed. BasePoint Analytics provides similar tools for U.S. lenders. BasePoint Analytics' founders are from HNC Software.
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Leap Wireless Adds Two to Senior Management TeamLeap Wireless International Inc. reported this week that it has strengthened its executive staff with the addition of two senior vice presidents. The San Diego-based provider of discount wireless voice and data communications services said Keith Buckley recently joined the company as senior vice president of supply chain management. Buckley, the company said, is responsible for supervising its end-to-end supply chain operations. Leap also said it has promoted Kirk Golbach to the role of senior v (More info...)
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NaviMedix Acquires TopLine SolutionsSan Diego-based NaviMedix said earlier this week that it has acquired TopLine Solutions, a provider of healthcare payment and collection services. Financial terms of the acquisition were not disclosed. NaviMedix operates a web-based network for healthcare providers to interact wit health plans. According to NaviMedix, the buy will help it develop solutions to assist physician practices and other healthare providers to deal with collecting payments from patients.
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