Thursday, June 10, 2010MRV Communications' Lotan Steps Down, Singh To Take ReinsChatsworth-based MRV Communications, the maker of optical components headed by Noam Lotan, said Thursday afternoon that Lotan is stepping down from the firm. The company said that Dilip Singh will become interim CEO of the company, effective July 1st. MRV did not say why Lotan is stepping down. Lotan has been at MRV for the last 20 years. Singh was most recently CEO of Telia-Sonera Spice Nepal, a wireless operator in Nepal, and also has served at Telenity, ADC Telecommunications, MC Venture Part (More info...)
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MegaPath Swallows SpeakeasyCosta Mesa-based broadband provider MegaPath is acquiring Best Buy's Speakeasy DSL business, the firms said today, in a deal which will combine Speakesasy with MegaPath and Covad. Financial terms of the deal were not disclosed. According to the firms, the transaction will combine Speakeasy's small business voice and data services with Megapath's various services, over Covad's braodband network. Covad and Megapath announced a deal in March to combine their operations. As part of the deal, Best Bu (More info...)
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JMI Equity Sells VertaforeLa Jolla-based private equity firm JMI Equity has sold portfolio firm Vertafore to another private equity firm, TPG Capital, in a deal worth $1.4 billion. According to Vertafore, TPG Capital is acquiring the company from Hellman & Friedman and co-investor JMI Equity. JMI's investment in Vertafore was overseen by Paul Barber.
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iSuppli Buys Research FirmEl Segundo-based iSuppli announced Thursday that it has acquired UK-based Screen Digest, a firm which provides market research covering film, television, broadband media, mobile media, cinema, home entertainment, TV technology and video games. Financial terms of the buy were not disclosed. iSuppli said that Screen Digest and wholly owned subsidiary Adams Media Research (AMR) will help bolster its analyst and sales presence in Europe. iSuppli provides market research on the electronics industry. (More info...)
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Freebinar Targets Web Conferencing MarketHuntington Beach-based Cosnet, a developer of web conferencing software, said this week that it has launched a new, free webinar service called Freebinar. According to the firm, it will offer free, unlimited webinars for up to 150 attendees, by using online advertising to offset the cost of the service. The firm is targeting small-to-midsize businesses and nonprofit organizations with the webinar service. Freebinar just emerged from beta, and said it has 2,600 users in the service. The company i (More info...)
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WaveConnex Gets $2.0MWestlake Village-based WaveConnex, an early stage startup developing wireless technology based on millimeter-wave, 60Ghz signals, has raised $2.0M in a funding round from a single investor, according to a regulatory filing by the firm today. The company, which is based on technology developed by UCLA professor Frank Chang, includes the notable involvement of billionaire and Abraxis founder Patrick Soon-Shiong. The firm also lists former Strix CEO and CFO Gordon Almquist and Vitesse co-founder Ir (More info...)
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NanoH2O Raises $10MEl Segundo-based NanoH2O, the water filtration technology spinout of UCLA, has raised $10M as part of an ongoing, $50M funding round, according to a regulatory filing by the firm today. No details on the funding have been announced yet by the company, which is headed by Jeff Green. NanoH2O has previously raised funding from Khosla Ventures, Oak Investment Partners, and Rusheen Capital Partners; the filing indicates that PCG Clean Energy and Technology Fund also now holds a board seat at the firm (More info...)
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Layoffs Take Big Toll In California In 2009The latest number released from the United States Department of Labor finds that 2009 was an ugly year for Californians, as measured by the number of mass layoffs and jobs lost. According to statistics gathered by the US Department of Labor's Bureau of Labor Statistics, during 2009, employers in California took 6,377 mass layoff actions, which resulted in the loss of 532,028 jobs in the state. The numbers were derived from new filings for unemployment insurance benefits benefits. The BLS said th (More info...)
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Collecta Gets $4.7M, Moves To LASilicon valley-based Collecta, which operates a real time search engine, said today that it has raised $4.7M in new funding--and is moving its headquarters to Los Angeles. The firm is headed by Gerry Campbell, former President of Search & Content Technologies for Reuters, and an angel investor in such firms as Summize, Tweetdeck, and StockTwits. The firm said it is relocating its company headquarters to Los Angeles, to better take advantage of the "vibrant media presence" in the area. The new fu (More info...)
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DocStoc Links With New HP PrintersSanta Monica-based DocStoc, the online professional document sharing and marketplace startup headed by Jason Nazar, is one of the web services features on HP's new line of web-enabled printers. HP launched the new printers at the beginning of the week, showing a new device which allows users to directly access web information sites from a touch sensitive display on the front of those printers. As part of the launch, HP said this week that it was launching the new printers with new "print applica (More info...)
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j2 Global Expands eFax in JapanLos Angeles-based j2 Global Communications, which operates a number of online electronic FAX services, said this week that it has launched an expansion of its eFax service in Japan. The firm said it has launched a Japanese language website, hired Japanese speaking sales and support teams, and is adding a number of Japanese cities to its network of phone numbers. The firm said it also has opened up an eFax office in the Chiyoda-ku area of Tokyo. The site is the company's first localized site in t (More info...)
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Avaak Gets Distribution At CostcoSan Diego-based Avaak, a developer of wireless video networking technology, said today that its products are now available at Costco's online site. The firm, which is venture backed by Qualcomm Ventures, Trinity Ventures, InterWest Partners and Leapfrog Ventures, develops small, battery-powered wireless cameras which connect directly to the Internet or iPhone.
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D-Tech Buys Taiwanese PlantCity of Industry-based D-Tech Optoelectronics, a firm which manufactures components for the optical communications market, said Wednesday that it has acquired the telecom assembly line assets of Taiwanese firm Infomax. Financial terms of the acquisition were not disclosed. D-Tech said it will use the new plant to augment its design facility and manufacturing plant in California. D-tech said the assets will become a new Taiwanese company called D-Tech Optoelectronics (Taiwan) Corporation.
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RealD, Sonic Link On 3D FormatLos Angeles-based RealD, a developer of 3D projection technology for movies, said yesterday along with Sonic Solutions that the two are in a strategic alliance. The firms said that Sonic will integrate RealD's 3D format into its RoxioNow entertainment platform, in order to support 3D entertainment in consumer electronics devices. Financial details of the alliance were not disclosed. The firms said that the new 3D-enabled products from Roxio are expected sometime this summer. RealD's format enabl (More info...)
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Autobytel Names New EVPIrvine-based Autobytel, which operates an online automotive site providing consumer leads to auto dealers, announced yesterday that it has named Jim Helberg as its new Executive Vice President, Product, Marketing, and Analytics. Helberg joins from PHD, where the firm said he was in charge of strategic development and execution of Chrysler Group media operations. Helberg has also been at OMD, Saatchi & Saatchi/Los Angeles Time Magazine, Grey Advertising, Foote, Cone and Belding and Rubin Postaer (More info...)
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THQ Names Good As EVPAgoura Hills-based videogame maker THQ announced today that it has promoted Martin Good to Executive Vice President, Kids, Family, Casual Games, and Global Online Services. Good has been at THQ for ten years, and was most recently Senior Vice President of THQ Asia Pacific and Global Online Publishing. THQ said that Good will report to CEO Brian Farrell. Good replaces Doug Clemmer, who is leaving the firm.
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