Tuesday, May 26, 2009THQ Loses Publishing VPAgoura Hills-based THQ reported late Tuesday that the firm's Executive Vice President of Publishing, Scott Guthrie, has resigned. The firm said that Guthrie--who was responsible for the firm's North American sales, distribution, and marketing--is pursuing another opportunity. THQ is a developer of interactive games and other entertainment software.
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Ophthonix Gains $25.9M In Series AAVista-based Ophthonix, which is developing high definition vision correction products, announced Tuesday afternoon that it has raised $25.9M in what it is calling a "Series AA" funding round. According to the firm, investors in the new round included Kleiner Perkins Caufield & Byers, Enterprise Partners, DAG Ventures, Gund Investment Corporation, InterWest Partners, Trex Enterprises and Wasatch Advisors' Cross Creek Capital Fund. The firm said the funding will go to rollout of its products in th (More info...)
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Local Angels: Still Investing, But More SelectiveLast week's angel investment report by the Angel Capital Association reported that investments by angel investors dropped nine percent in 2008, with a hefty percentage of angel investors--40 percent--expecting this year will be a down year. However, a quick check of local, Southern California angel investors finds that although angel investment is down, investors are still investing--albeit much more selectively.
"Capital efficient companies offering very competitive terms are still getting f (More info...)
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Emulex: Broadcom Statements Inaccurate, MisleadingCosta Mesa-based Emulex is continuing its campaign against the hostile takeover bid of the firm by Broadcom, saying today in a shareholder letter that Broadcom has made a number of "misleading and inaccurate" statements in the acquisition offer. Emulex urged its stockholders to not tender their shares in the tender offer from Broadcom, saying that the offer is "grossly inadequate." Emulex said Broadcom's statements are part of a "campaign to mislead Emulex stockholders" and that its "misleading (More info...)
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Teledyne Deploys On HubbleThousand Oaks-based Teledyne Technologies announced this morning that the firm's subsidiary, Teledyne Scientific & Imaging, has deployed an infrared imaging sensor in the Hubble Space Telescope. The firm's infrared sensor was installed in the Hubble last week by the Space Shuttle, as part of a repair of the telecope's Advanced Camera for Surveys (ACS). Teledyne said that the new IR sensor means that it has imaging technologies in three of the six Hubble Space Telecope instruments. Teledyne devel (More info...)
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RealtyTrac Ties With PRIMEDIAIrvine-based RealtyTrac, a provider of data about foreclosure properties, said today that it has expanded an agreement with PRIMEDIA, Inc., a publisher of real estate information and web sites. According to RealtyTrac, the deal will allow users on a number of PRMIEDIA web sites to search for foreclosure properties using RealtyTrac's database. Financial terms of the agreement were not disclosed. The web properties in question include americanhomeguides.com, rentals.com, and rentalhouses.com. PRIM (More info...)
posted on Tuesday, May 26, 2009(Full story)
Insights & Opinions: CERN's Collaborative Management ModelFor our insights and opinion section today, Krisztina Holly, vice-provost for innovation and executive director of the USC Stevens Institute for Innovation, talks about the leadership model at CERN, and discusses how that can be applied to business.
As a business leader, imagine trying to manage more than 7,000 scientists from 85 countries around the world—with their own languages, cultures, and expertise—on a 20-year collaboration to create the most complex system ever built.
Now im (More info...)
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X1 Technologies Gains New Funding, CEOPasadena-based X1 Technologies, a developer of desktop search software, announced today that the firm has raised new funding from backer Idealab, plus made a few executive changes. Size of the new investment round in the firm was not disclosed by the company. X1 said that it has promoted President and COO John Waller to the position of CEO, replacing Harold "Bud" Enright, who remains on the firm's board. Idealab's Bill Gross also re-joins as Chairman of the firm's board of directors. According t (More info...)
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OpenX Gets $10MPasadena-based OpenX Technologies, a developer of ad serving software for web publishers, said this morning that it has raised $10M in a Series C funding round. According to the firm, the new round was led by DAG Ventures, and also included prior investors Accel Partners, Index Ventures, Mangrove Capital, First Round Capital, and Jonathan Miller. The firm said the new funding will go to expand its advertising technology, products, and services. The funding brings the company's total raised to ov (More info...)
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Spectrum Pharmaceuticals Wins $4.3M In ArbitrationIrvine-based biotechnology firm Spectrum Pharmaceuticals reports that it has won $4.3M in an arbitration over a dispute with Cell Therapeutics, over liabilities over joint venture expenses. According to the firm, $3.5M of the amount was ordered to be paid immediately to the firm from an escrow account, with an additional $776,454 to be paid from Cell Therapeutics by wire transfer. Cell Therapeutics and Spectrum had established a joint venture in December of 2008 to develop a treatment for non-Ho (More info...)
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Kofax In Italian WinIrvine-based Kofax reports this morning that it has sold $1.5M in document scanners to the Guardia di Finanza, an Italian police force focused on financial, economic, judiciary, and public safety. The firm, which develops document capture and management products to companies and other organizations, said the sale would go towards digital archiving of paper tax-related forms and other records.
posted on Tuesday, May 26, 2009(Full story)