Tuesday, January 20, 2009QLogic Targets InfinibandAliso Viejo-based Qlogic said Tuesday that it is targeting the Infiniband market with a new channel program. The maker of storage networking and related gear said that it has created a channel program aimed at the high performance computing (HPC) market, specifically aimed at HPC clusters build on the Infiniband standard. The program is an extension from Qlogic's existing channel program for storage networking. QLogic develops adapters, switches, and ASICs for the data storage and server network (More info...)
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Venture Capital Fundraising DropsVenture capital fundraising activity dropped significantly in Q4, according to a report released Monday by Thomson Reuters and the National Venture Capital Association (NVCA). The report, which tracks the fundraising activity of venture capital firms, found that there was $3.4 billion in forty-three venture capital funds raised in Q4 of 2008, down from $8.4 billion in the prior quarter, and down significantly from the $11.7 billion raised in Q4 of 2007. The NVCA's Mark Heesen speculated in a sta (More info...)
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Geni, Yammer Both Raise FundingWest Hollywood-based Geni, and instant messaging spinout Yammer have both raised $5M in funding from the firms' existing backers, Charles River Ventures and the Founders Fund, according to regulatory filings and reports. Geni is a high profile, family social networking and genealogy site headed by former Paypal co-founder David Sacks, and Yammer is the Twitter-like instant messaging spinout of Geni, focused on businesses. The details of the Geni funding were first reported by PEHub; with details (More info...)
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Metabasis Therapeutics Lops 43 PercentSan Diego-based Metabasis Therapeutics, a biopharmaceuticals development firm, just announced this morning that it is cutting 38 employees, or approximately 43 percent of its employees as part of a corporate restructuring. Metabasis said the move will focus its efforts on its treatments fo hyperlipedemia and treatments for type 2 diabetes, along with its glucagon antagonist program. The firm said it will take a charge of $1.4M for the restructuring for employee termination costs and severance.
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Qualcomm Buys AMD's Handheld BusinessSan Diego-based Qualcomm has acquired the remains of AMD's handheld business, including what the firm said were certain graphics and multimedia technology assets, intellectual property, and resources. Qualcomm said the deal is worth $65M in cash. The firm explained that the acquisition would strengthen its multimedia capabilities. Qualcomm also said that under the agreement, it has extended offers of employment to design and development teams working for AMD's handheld business, although it di (More info...)
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Ortiva Wireless Gets Win At VodafoneLa Jolla-based Ortiva Wireless, a provider of products for managing and optimizing mobile video streams, has snagged Vodafone Portugal as a customer, the firm said today. Ortiva said that Vodafone Portugal will deploy its mobile Video Optimization Gateway product. Financial impact of the deal was not disclosed, however, Ortiva said that Vodafone is the firm's first European customer. Ortiva's products are used by telecommunications carriers to adapt video content to mobile phone capabilities and (More info...)
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Abraxis Bioscience Spins Out Personalized Medicine FirmLos Angeles-based Abraxis Biosciences disclosed this morning that the firm's board has approved a plan to create a new company, Abraxis Health, Inc., which will focus on biomarkers and personalized medicine. According to Abraxis, the new firm will focus on identifying compounds linked to specific diseases -- biomarkers -- focused on predictive, personalized medicine. Abraxis Health will gain the drug discoveyr, pilot operations, and development operations of Abraxis BioScience. Abraxis BioScienc (More info...)
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Nirvanix Taps Storage Veteran For SalesSan Diego-based Nirvanix has hired on a storage veteran as VP of Sales, saying today that Joseph Lyons has joined the firm. Lyon joins the company from Brocade Communications, where he was Director of Services Sales for the Americas. He has also served at storage integrator Glasshouse Technologies, in addition to serving at Exario Networks, EB Networks/RPM Consulting, Inrange Global Consulting, and CNT Professional Services. Nirvanix is a developer of storage-as-a-service, allowing companies to (More info...)
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FastSoft Names New CEOPasadena-based FastSoft, which develops network acceleration technology, announced today that it has named J. Edward Synder as the firm's CEO. Snyder has been involved in seed funding and founding such companies as Netboost (acquired by Intel), Jibe Networks, and Proxinet (acquired by Puma Technologies). He has also served as CEO of ProTools (Acquired by Network General) and Alantec (public, acquired by Fore Systems), along with serving at TRW. FastSoft founder Steven Low remains as chairman. Fa (More info...)
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Kofax Adds Customer In SwitzerlandIrvine-based Kofax, a developer of document capture and management software, said today that it has added the City of Lausanne, Switzerland, as a customer. Kofax said that the city has provided it with a major order for its Kofax Express scanning and archiving product. Financial terms of the order were not disclosed. The system will be used for managing documents related to the city's residency application process, and for scanning and sorting mail.
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