Monday, September 27, 2010Valeant Shareholders Approve Biovail Buyout, Despite ObjectionsShareholders of Aliso Viejo-based Valeant Pharmaceuticals and Canadian firm Biovail have approved Valeant's acquisition by Biovail, despite objections from Biovail founder Eugene Melnyk and a a number of California state lawmakers. The deal--which is expected to result in the loss of 25 percent of Valeant's workforce, or 1,100 jobs--was announced in June, and is worth $3.2 billion. In a letter to Biovail and Valeant board members and executives, founder Melynk said that the merger marks the "des (More info...)
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Entropic Looks To Raise More Via Stock OfferingSan Diego-based Entropic, the publicly held developer of multimedia-over-coax semiconductors, revealed Monday afternoon that it is looking to offer up to 10 million shares of its common stock. Based on the firm's closing price Monday, the offering would raise as much as $91M for the company. The offering is being run by Barclays Capital Inc. and J.P. Morgan Securities LLC, along with Craig-Hallum Capital Group LLC, Signal Hill Capital Group LLC, Pacific Crest Securities LLC and Merriman Capital, (More info...)
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Geodelic Confirms Verizon RelationshipSanta Monica-based Geodelic, the location-based mobile application development firm run by Rahul Sonnad, confirmed its relationship with Verizon last week. Verizon has been an investor in the firm since June, and Geodelic has been developing applications with Verizon over the last year. Geodelic has been privately discussing its relationship with Verizon with investors all year, but had not officially confirmed the relationship until last week. Geodelic has previously raised funding from Clears (More info...)
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Local Firms Recognized For InnovationA number of local, Southern California firms were recognized today by the Wall Street Journal, in that publication's annual Technology Innovation Awards. According to the WSJ, Zoom Focus Eyewear, Van Nuys-based developer of eyeglasses which can replace the need for progressive or bi-focal glasses, was awarded the Silver Winner in its award. Other firms also recognized in individual categories included El Segundo-based NanoH2O, the UCLA spinout headed by Jeff Green, for its water filtration and p (More info...)
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Interview with Mickie Rosen, TeccaLast week, Santa Monica-based Tecca (www.tecca.com) launched a consumer electronics, consumer information service, backed by Fuse Capital and Best Buy. The service--currently only available on iPhone and Android--allows users to find reviews and information about consumer electronics products. We caught up with Mickie Rosen, the firm's CEO, about the company, its links to Best Buy, and how it was incubated out of Fuse Capital. Rosen--in addition to being CEO of Tecca, also is Partner at Fuse Cap (More info...)
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Revolution Prep Scores $15MLos Angeles-based Revolution Prep, a provider of test preparation software and services, said today that it has raised $15M in a financing round. The round was led by Kennet Partners. According to the company, Javier Rojas of Kennet will join the company's board. Revolution Prep provides SAT and ACT courses, private tutoring, and K12 software. The firm--which was founded in 2002--said this round was its first institutional investment. Revolution Prep was co-founded by Ramit Varma and Jake Neuber (More info...)
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Demand Media Targets Food AdvertisersSanta Monica-based Demand Media, the online content publishing empire of Richard Rosenblatt, announced this morning that it has launched a new, specialized offering for food advertisers. The firm said it has combined part of Demand Media's network, eHow.com, and LIVESTRONG.com to reach consumers making food-related choices. Demand said it has created a special offering--which includes both premium video, contextual integration, and display advertising units--to help reach consumers on its site. (More info...)
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SVnetwork Hires Bizdev VPLos Angeles-based SVnetwork, the brand advertising network and operator of SocialVibe, said this morning that it has named Chris Rooke as SVP of Business Development and Strategic Partnerships. Rooke was most recently SVP of Interactive Media at CBS Television Distribution and King World Productions. Rooke also has served as VP of Domestic Sales at King World and Chair of King World New Media Group. The firm said Rooke will lead its efforts to expand its presence among Internet publishers. SVnet (More info...)
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Active Network Creates Survey PanelSan Diego-based The Active Network, the operator of online sports registration and related sites, said today that it has launched a new survey panel. The firm said the Active Lifestyle Panel, which it is launching via a strategic alliance with Survey.com, will offer targeted and custom market research on active consumers. The firm said it is looking to serve brand customers interested in health and wellness, exercise, sports, diet, family activities, and outdoor activities.
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Vitesse Rolls Out Gigabit Ethernet Switching ChipsCamarillo-based Vitesse Semiconductor said today that it has rolled out two new Gigabit Ethernet switching chips. The maker of high speed networking semiconductors said it has rolled out its E-Stax-III-48 (VSC7432) and E-Stax-III-68 (VSC7434) chips, which are used for developing managed Layer 2 and Layer 3 stackable enterprise switches. According to Vitesse, its new products allows developers to implement enterprise, Gigabit Ethernet switches in a three chip design, which the firm claims is the (More info...)
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QAD Signs Nexus DxSanta Barbara-based QAD, the developer of enterprise resource planning software, said this morning that San Diego-based life sciences firm Nexus Dx has adopted its software. According to QAD, Nexus Dx is using QAD Enterprise Applications, its ERP software. Financial details of the win were not announced. Nexus Dx is a developer of rapid cardiac diagnostic tests for diagnosing cardiovascular disease.
posted on Monday, September 27, 2010(Full story)