Friday, October 8, 2010NextWave Complete PacketVideo SaleSan Diego-based NextWave Wireless said Friday that it has completed the sale of its 65 percent equity interest in PacketVideo. The firm said the sale, to NTT DOCOMO, was worth $111.6M. NextWave Wireless said it will result in net cash proceeds of $106.5M from the sale. The firm said it will use $94.0M of the proceeds to retire Senior Secured First Lien Notes, with the remaining $12.5M going towards working capital. NextWave had announced the sale in August. PacketVideo becomes a wholly owned sub (More info...)
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More Details Swirl Around Hulu IPO PlansMore rumors have emerged around possible IPO plans for Los Angeles-based Hulu, the online video streaming site backed by the major entertainment studios. According to the latest rumors, via a report from Reuters, the firm's plan is for a $200 to $300M IPO would would value the company at around $2 billion. The IPO filing is expected before the end of the year. Rumors of a Hulu IPO have been swirling around since August.
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GumGum Rolls Out Image ToolbarLos Angeles-based GumGum, which helps web publishers license celebrity and other photos, has rolled out a new Image Toolbar feature for the firm's service, the firm said today. According to Ophir Tanz, the firm's CEO, the tool allows users to share images with others using Facebook and Twitter, see related images via a search page, and zoom into the firm's photo, among other features.
GumGum allows publishers to use celebrity and other photos, without the usual, high cost of licensing those (More info...)
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Vantage Media Names New CEOEl Segundo-based Vantage Media, the provider of cost-per-action (CPA) advertising, said this morning that it has named Patrick Quigley as the firm's new CEO. Current CEO Steve Jillings becomes Chairman of the firm. According to Vantage Media, the move will take the firm to the "next stage" in its growth. Quigley was most recently Senior Vice President at QuinStreet, and has also served at McKinsey & Company. The company specifically said that Quigley was part of the management team that complete (More info...)
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Calnetix Sells Power Solutions Business To GEYorba Linda-based Calnetix, a developer of high speed motor and generator technology, said Friday that it has sold certain assets of its Calnetix Power Solutions (CPS) subsidiary to GE. Financial terms of the sale were not disclosed. Calnetix said that the deal also includes certain waste heat recovery intellectual property owned by both Calnetix and Calnetix Power Solutions. The Calnetix products are used for recovering waste heat from industrial processes, and using that heat to produce electr (More info...)
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Optical Research Associates Acquired By SynopsysPasadena-based Optical Research Associates, a developer of optical design software and optical engineering services, has been acquired by semiconductor design software firm Synopsys, Synopsys said late yesterday. Financial terms of the acquisition were not disclosed. According to Synopsys, the acquisition will extend its engineering software capability into optical design and analysis. ORA's software is used for designing such products as solid state lighting and light emitting diodes, as well a (More info...)
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DivX Acquisition CompletesSonic Solutions, the Novato-based developer of multimedia editing software, said this morning that it has completed its acquisition of San Diego-based DivX, the developer of video encoding and decoding software. The acquisition, which had originally been announced on June 2nd, was worth $323M at the time of the original announcement. Sonic Solutions said that DivX now has a footprint of over 300 million device using its video encoding and decoding technology. DivX is now being headed up by Matt (More info...)
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Activision Blizzard, Web Wise Kids In PartnershipSanta Monica-based videogame developer Activision Blizzard and Santa Ana-based Web Wise Kids, a provider of Internet safety education, announced this morning that the two are in a new partnership. According to the two, they are working together to educate kids and parents on how to avoid inappropriate and unlawful online behavior. Terms of the partnership were not disclosed.
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Ligand Names New Board MemberSan Diego-based Ligand Pharmaceuticals, a developer of a broad line of pharmaceuticals, said today that it has named Sunil Patel to its board of directors. Patel is Senior Vice President of Corporate Development for OncoMed Pharmaceuticals, and has also served at BiPar Sciences, Allos Therapeutics, Connetics, Abgenix and Gilead Sciences.
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RateBlend.com Targets Commercial Real EstateSan Clemente-based RateBlend.com, a new site developed by Nuvolocity, said this week that it has launched a web-based calculator site targeted at commercial real estate professionals. According to Nuvolocity, the new site helps those professionals calculate lease rental rates and rental concession savings. Nuvollicity was founded by Kris Williams, who was a former software developer at MySpace.
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