Tuesday, June 28, 2011Reports: MySpace To Go For $20-30MMultiple reports today say that once lofty social networking site MySpace is now being set to be sold by News Corp. for as little as $20M to $30M. Irvine-based Internet advertising network Specific Media and Golden Gate Capital are among the rumored bidders for MySpace. MySpace is reportedly planning big employee cuts at the company today.
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Slacker Powers AOL Internet Radio ServiceSan Diego-based music streaming service Slacker has inked a major deal with AOL, to power a new online Internet radio service. AOL said today that it is relaunching AOL Radio in a partnership with Slacker, which will offer both free and premium Internet radio to users. Financial details of the relationship were not announced. The deal came with AOL's Huffington Post Media Group. AOL said there will be three product tiers to users; a free, AOL radio service; and ad-free version; and a personalize (More info...)
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LendAmend Gets $750KLos Angeles-based LendAmend, a developer of online software for managing the amendment of leveraged loans, has raised $750,000 in a Series A funding round. The round came from the Tech Coast Angels. LendAmend's web-based software is used for workflow automation in the lending industry, for CLO managers, banks, hedge funds, insurance companies, asset managers, mutual funds, and other institutional investors in the syndicated bank loan market. The TCA's investment in the firm was led by Doug Swets (More info...)
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UberMedia Rolls Filtering Feature For BlackBerryPasadena-based UberMedia, the developer of Twitter client software backed by Idealab, has further enhanced the firm's UberSocial for BlackBerry client today. The firm said it has launched a new feature called "Inner Circle" which prioritizes and brings tweets from users who are most important to them to an exclusive timeline. UberMedia said the new feature is one of its most widely requested features. The new feature comes along with new theme creation tools, links to daily deals, and branded ch (More info...)
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SocialBlaze Acquired By Digital AgencyLos Angeles-based Social Blaze, a provider of web analytics and social media management software, has been acquired by digital agency MartinJAY Digital. Financial terms of the acquisition were not disclosed. Social Blaze was founded in 2009 by Cassie Rice.
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SolarReserve Wins Project in SpainSanta Monica-based SolarReserve, the developer of solar thermal power plants, has been selected in a deal in Spain. According to the firm, Termosolar Alcazar, a 50/50 joint venture between the company and Spanish renewable energy firm Preneal, has been awarded the tender for a 50 megawatt, solar thermal plant to be build in Spain. The plant will use SolarReserve's molten salt systems for power generation. Financial impact of the win was not announced. The new project will provide enough energy t (More info...)
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National Technical Systems Gets $14M In PIPECalabasas-based National Technical Systems, which provides testing and engineering services, said today that it has raised $14M in a private placement. The firm said it raised the debt and equity with Mill Road Capital. The firm said the new funding will go towards one or more future acquisitions by the company. NTS said it is in discussion with "several" potential acquisition candidates. The firm said it was advised by B. Riley & Co. in the financing.
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Pokki Takes App Model To The DesktopSan Diego-based SweetLabs, the firm formerly known as OpenCandy, is taking on the mobile app model, and applying it to the desktop. The firm said today that it has launched a beta of Pokki, a platform which lets web developers create desktop apps, using languages such as HTML5, CSS, and JavaScript. According to SweetLabs, it is bringing the "app experience to the Desktop" with its software, which is launching with apps for Gmail, Facebook, LivingSocial, the Wall Street Journal, eBay, Groupon, an (More info...)
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Experian Buys Medical Present ValueCosta Mesa-based Experian, the provider of credit information and related services, said today that it has acquired venture-backed Medical Present Value, a provider of revenue cycle management software to physicians. Experian said it would pay $185M for MPV. MPV was venture backed by Rho Ventures, CenterPoint Ventures, Star Ventures and Care Capital.
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Paragon Trumpets Revenue Growth, HiringPrivately held Irvine backup and disaster recovery firm Paragon Software Group trumpets that it is on schedule to double its revenues this year, after seeing a 1,198 percent growth rate over the last 3 years. The firm did not disclose actual financials. Paragon also said it is on a rapid expansion plan, with big hiring plans for sales and customer support positions in its Irvine headquarters. Paragon Software is headed by Tom Fedro. The firm's disaster recovery and server optimization software s (More info...)
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