Wednesday, November 5, 2008THQ Cuts 250 EmployeesAgoura Hills-based video game maker THQ said late Wednesday that it is cutting 250 employees, or 17% of its staff, after reporting disappointing results. THQ said it would undertake a "significant" business realignment as its looks to focus on fewer, higher quality titles. The firm said it is cancelling several titles under development, closing five studios, and reducing approximately 250 people and streamlining its corporate organization. THQ blamed lower-than-anticipated international sales of (More info...)
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Point.360 Buys Video Box StudiosBurbank-based Point.360, a provider of audio and video post production services, said earlier this week that it has acquired the assets of Video Box Studios, Inc., a provider of 3D animation, visual effects, motion design, and digital finishing services. Financial terms of the acquisition were not disclosed. Point.360 said the acquisition will add around $1.5M in revenues for the firm in the first twelve months, and that Video Box's team will be located in the firm's West Los Angeles facility.
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Smith Micro Scores Compression PatentAliso Viejo-based Smith Micro has received a patent from the U.S. Patent and Trademark office, for compression technology in its StuffIt software line. According to the USPTO, the patent was actually issued in July, and names Serge Volkoff, Michael Paul Halpin, and Darryl Lovato as inventors. Smith Micro said the technology covered by the patent -- titled "Detection and recompression of embedded compressed data inside existing data streams " -- helps detect and compress previously compressed dat (More info...)
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Big Stage Emerges From BetaPasadena-based Big Stage Entertainment, the venture-backed startup which is developing photo-realistic avatar technology, has exited its beta and officially launched its site. The firm said the official launch will allow users to create what the firm calls an "@actor" -- a 3D avatar which can be inserted into movie and TV clips, music videos, still images, and elsewhere. The firm had launched a beta of its site in August. BigStage is venture backed by Mission Ventures, Selby Ventures, and the Te (More info...)
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Precision Dynamics Buys TimeMed Labeling SystemsSan Fernando-based Precision Dynamics Corporation, a provider of identification and labeling products for the hospital and healthcare market, has acquired TimeMed Labeling Systems, which creates specialty healthcare labels, the firms said Tuesday. Financial terms of the buy were not disclosed, however, PDC said that the deal came as a result of an effort by Water Street Healthcare Partners, a private equity firm and an investor in PDC. Both firms provide wristbands and labels for patient trackin (More info...)
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NTS Sells IT Consulting AssetsCalabasas-based National Technical Systems, a provider of engineering and testing services, announced this morning that it has sold certain contracts and assets from its Technical Resources segment, to Strategic Staffing Solutions, L.C. Financial terms of the sale were not disclosed. According to the firm, those contracts and assets are associated with its IT services and IT consulting business. NTS said the customers transferred to Strategic Staffing represented $10.0M in revenues for the six m (More info...)
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Livestrong.com Rolls iPhone AppSanta Monica-based Livestrong.com, the online health site effort of the Lance Armstrong Foundation and Demand Media, said this morning that the site has rolled out a new application for the iPhone and iPod touch. According to Livestrong.com, it has introduced a new Calorie Tracker application which can be used to monitor nutritional intake via their iPhone. The new application is available for free, through the Apple App Store. Livestrong.com is an online community site focused on health, and is (More info...)
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