Tuesday, June 9, 2009DoE Selects Two SoCal Firms For Solar ProgramThe U.S. Department of Energy announced Tuesday that it has selected thirteen companies for an effort to commercialize solar energy technologies, including two firms based in Southern California. According to NREL, it is investing $6 million under the American Recovery and Reinvestment Act, as part of a new PV Technology Pre-Incubator Award. The two local firms are International Solar Electric Technology, which is based in Chatsworth, and TiSol, which is based in Pasadena. NREL said that Interna (More info...)
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CardioDynamics Acquired For $10MSan Diego-based CardioDynamics, a maker of cardiography products used for non-invasive assessment of cardiac output, is being acquired for $10M by SonoSite. According to Sonosite, it will pay $1.35 per share in cash for publicly held CardioDynamics. SonoSite is a developer of ultrasound products, and is based in Bothell, Washington, near Seattle. According to SonoSite, CardioDynamics had revenues of $24.5M in 2008. The deal requires approval by CardioDynamics' shareholders. CardioDynamics was r (More info...)
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j2 Global Communications Sues OneSuiteLos Angeles-based j2 Global Communications has filed a lawsuit against competitor OneSuite, which is also based in Los Angeles, according to a filing by the firm in the California Central District Court. The patent lawsuit, case number 2:2009cv04014, is over infringement of j2's patent involving sending and
receiving messages using the Internet and/or telephone systems, according to j2's Vice President and General Counsel, Jeffrey D. Adelman. Adelman, in response to an inquiry by this publicati (More info...)
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TrueVision Systems Adds $1.2MSanta Barbara-based TrueVision Systems, a developer of 3D visualization technology used for microsurgery, said this week that it has raised $1.2M in a convertible financing round, part of an effort which will raise $2M for the firm. TrueVision said the company is expecting to raised $4 to $5M in a Series C funding round. Source of the funding was not disclosed, and comes on top of a $5M, Series B funding round it raised from angels last year.
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aFraxis Gets $750KSan Diego-based aFraxis, a stealth-mode firm developing treatments for Fragile X Syndome and autism, has raised $750,000 in a funding round, according to a regulatory filing by the firm Tuesday. Details on the funding have not been announced, however, the company is venture backed by Avalon Ventures. Avalon's Jay Lichter is listed as the firm's CEO.
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Arkeia Software Expands in Latin AmericaSan Diego-based backup and disaster recovery software maker Arkeia Software reports today that the firm has opened up new Latin American headquarters for the firm. According to Arkeia, it has opened up an office in Sao Paulo, Brazil. The firm said the new office will provide sales, marketing, and technology support to customers in the region; the new office will be headed by Regional Manager Mauricio Pretto. Arkeia said it already has more than 100 enterprise customers in Latin America.
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Big Stage Licenses Technology To Virtual WorldPasadena-based Big Stage Entertainment, which develops 3D, avatar creation technology, has signed on a virtual world as a licensee of its technology. Big Stage said that photo-realistic, 3-D virtual universe Blue Mars 2150 has licensed its 3-D, facial modeling technology. Financial impact of the win was not disclosed. Blue Mars 2150 is an effort to show what life on Mars might be like in the future, and is being supported by museum exhibits, television, and other efforts, and includes work with (More info...)
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Fandango Connects To Palm PreLos Angeles-based Fandango reports today that the firm has launched a new application alongside the launch of the Palm Pre. According to Fandango, its new application, which is available on the beta App Catalog on the Pre, allows users to watch trailers, view photos, reviews, find showtimes and buy tickets for movies. The new application is similar to Fandango's Apple iPhone app, which was released earlier this year. Palm launched its Palm Pre smartphone yesterday.
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Goodreads Launches Follow FeatureLos Angeles-based Goodreads, the online social networking site focused on book readers, told its users today that it has launched a new feature similar to Twitter's "follow." According to Goodreads, the new feature allows members of the site to follow updates of people they admire, without marking them as friends. The firm said the new feature allows users to see updates of books, what books people are reading, and reviews. Goodreads is backed by angels; its investors include people such as Mich (More info...)
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Teledyne Gains $18.8M From DARPAThousand Oaks-based Teledyne Technologies has garnered an $18.8M, contract from DARPA, the Defense Advanced Research Project Agency, the firm reported last week. According to Teledyne, the contract went to its Teledyne Scientific & Imaging subsidiary, and will go toward developing terahertz electronic devices and integrated circuits. The firm said the contract covers work through 2014, with an initial phase valued at $8.3M over a 24-month period. Teledyne explained that the technology develops i (More info...)
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NxTV Shuffles Exec TeamLos Angeles-based NXTV, a provider of video on demand and IPTV systems for the hotel and lodging industry, disclosed Monday that the firm has named a new executive team. According to the firm, it has named Francis Najafi, founder and CEO of investment group Pivotal Group, as its Chairman; Hooman Honary will serve as President and CTO; Ira Dworkin is the firm's new SVP Operations and Product Development; Stephen Guillot is its VP of Hospitality Sales and Marketing; and Catherine Gopaulsingh has b (More info...)
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Anacomp Gets $7.5M In Credit FacilitySan Diego-based Anacomp, a provider of electric discovery consulting services, said Monday that the firm has raised $7.5M in a credit facility from Bridge Bank. According to Anacomp, the funding will go towards "various" strategic initiatives at the firm, including expansion in the e-discovery market. Anacomp said the line of credit will go towards general working capital purposes and letters of credit, and replaces an existing credit facility.
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