Thursday, February 5, 2009Cohu Cuts Back Headcount, Cuts PayPoway-based Cohu, a supplier of equipment for the semiconductor industry, announced Thursday that it is reducing headcount, cutting pay, suspending its matching 401(k) contributions, reducing work hours, and forcing mandatory time off, as the firm sees "extremely difficult" business conditions. Cohu, which detailed the cost cutting moves as part of its quarterly results, said its sales dropped to $41.4M for its fourth quarter ended December 27, down from $57.1M in the similar quarter in 2007. E (More info...)
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Power-One Lops 1000Camarillo-based Power-One, a manufacturer of power supplies and related components, said Thursday that it will reduce its global headcount by approximately 1,000, or 22 percent of its workforce, as the firm looks to respond to ongoing demand uncertainty. The firm, which announced the cuts as part of its results, said that it is implementing "aggressive" cost reduction actions because of the economic climate. The firm said it will take a $1.3M charge related to the severance.
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International Rectifier Cuts 850 EmployeesEl Segundo-based International Rectifier is planning on cutting 850 jobs, or approximately 18 percent of its workforce, the maker of mixed signal semiconductors said Thursday as part of its earnings release. International Rectifier said the cuts represent approximately 18 percent of the firm's workforce. The company also said it will close two facilities--one, in Newport, Wales, and the other in El Segundo. IR said that the El Segundo facility will be consolidated into its Temecula fabrication f (More info...)
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RightScale Links With Rails Management ProviderSanta Barbara-based RightScale, a firm which develops cloud computing management software, has linked its products with New Relic, a developer of application performance management software, the firms said this week. RightScale said that its Cloud Computing Management Platform can be used with New Relic's RPM software. RightScale's software helps companies deploy servers into cloud computing clusters such as Amazon EC2. RightScale is venture backed by Index Ventures and Benchmark Capital.
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Zag Round Totals $37.4MSanta Monica-based Zag has finally revealed the total invested in its latest, strategic round of funding, saying Thursday that it raised $37.4M. The round came from USAA, and included Capricorn Investment Group, LLC, GRP Partners and Anthem Venture Partners. USAA is an affinity group which is using Zag's automotive configuration software and services. The firm's venture round had earlier been reported to be worth $32.4M, and included USAA--however, the firm had refused to confirm those details (More info...)
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Tsavo Buys OpenSourceFoodSanta Monica-based Tsavo Media, the online media venture of former Userplane founder Michael Jones, announced Thursday that it has acquired an online, user-generated recipe site called OpenSourceFood. Financial terms of the acquisition were not disclosed. According to Tsavo, it will rename the OpenSourceFood site NibbleDish. Tsavo acquired the user-generated recipe site from Egg & Co., a Tokyo-based venture headed by Jon Anthony Yongfook Cockle. Yongfook will join Tsavo as part of the acquisitio (More info...)
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X PRIZE Foundation Gives $25K To UCI StudentsTwo UC Irvine Students, Kyle Good and Bryan Le, have scored $25,000 from the X PRIZE Foundation and Prize Capital, in a competition which invited ideas for green energy projects for the group. The X PRIZE Foundation reported today that it has given the two a $25,000 check for their idea for an "ultra capacitor" prize, which they submitted on YouTube. The prize was funded by Prize Capital, which is focused on preserving rich ecological habitat areas around the world, and invests in environmentall (More info...)
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Microsoft Rolls Out Celebrity News SiteMicrosoft's MSN, and Santa Monica-based media firm BermanBraun Interactive said today that they have rolled out a new celebrity news site called WonderWall, which will feature information on what the companies described as the "hottest" pop culture stories, personalities, and trends. According to the firms, the new, stand-alone site will also be featured throughout the MSN network, and is designed to have the look and feel of a magazine. Financial details of the link between BermanBraun and MSN (More info...)
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Alelo Gains Army ContractLos Angeles-based Alelo, the USC spinout which is developing language learning systems based on video games, disclosed this week that the firm has been selected as a prime contractor by the U.S. Army. Alelo said that it was selected by the U.S. Army Program Executive Office for Simulation, Training and Instrumentation (PEO STRI), to provide its systems for foreign language and culture training. Alelo said the contract covered its instructional design methodologies and tools, intelligent tutoring (More info...)
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Zag Gets Investment From USAALos Angeles-based Zag, the online car buying software firm headed by former CarsDirect CEO Scott Painter, has scored an investment from financial services firm USAA, USAA disclosed Thursday. USAA did not provide financial details behind the investment. According to USAA, it is taking an equity position in Zag, which is also providing the firm with its car buying services. Zag develops technology which allows members of groups like USAA to fully configure and purchase cars, through car buying pro (More info...)
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Warner Buys Independent Game DeveloperBurbank-based Warner Bros. Home Entertainment Group announced late Wednesday evening that it has acquired an independent game development studio, Snowblind Studios. Snowblind is the developer of game titles Baldur's Gate: Dark Alliance, Champions of Norrath, and Justice League Heroes. Financial terms of the acquisition were not disclosed. According to Warner Bros., the acquisition of the action and fantasy-based games developer will broaden its portfolio. Snowblind is based in Seattle, and has o (More info...)
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AeroVironment Gets $41.7M ContractMonrovia, California-based Aerovironment, which develops unmanned aircraft systems, said Wednesday that the firm has scored a $41.7M contract for its Raven unmanned aircraft systems. According to the firm, the contract with the U.S. Army covers its Rq-11B Raven and associated services. Aerovironment said it will provide systems, spares, and services for the Army and Marine Corp through the contract, with delivery over the next 12 months. Aerovironment's Raven is a lightweight, 4.2-pound unmanned (More info...)
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