Thursday, October 20, 2011MRV Communications Shuffles BoardChatsworth-based MRV Communications, the developer of optical transport and other networking components, said Thursday afternoon that its current Chairman, Dr. Ken Shubin Stein, has resigned from the board, and has been replaced by current board member Philippe Tartavull. The firm also said that Dilip Singh, the firm's CEO, has also resigned from the board, but remains as CEO. Reasons for the board shuffle were not detailed, although the firm did say it had added Robert Pons and Ken Traub to the (More info...)
posted on Thursday, October 20, 2011(Full story)
AeroVironment Lands $7.3M OrderMonrovia-based Aerovironment, the developer of unmanned aircraft systems, has signed another multimillion dollar order from the U.S. military, the firm said Thursday. AeroVironment said it received a $7.3M order from the United States Army, for its Puma unmanned aircraft systems logistics support services over the next 12 months. The firm's Puma is being used by the United States Special Operations Command (USSOCOM). Aerovironment develops both unmanned aircraft systems as well as electric vehic (More info...)
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SpaceX Hails Astronaut MilestoneHawthorne-based Space Exploration Technologies, the commercial rocket firm headed by technology mogul Elon Musk, said today that it has completed a major milestone in its efforts to fly astronauts to the International Space Station. The company said it completed a preliminary design review of its launch abort system, for use with its Dragon spacecraft. The firm said its approval by NASA of the latest design brings it closer to providing human spaceflight to the ISS. SpaceX--which is in the midst (More info...)
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Accelerator Crazy In Southern CaliforniaWhat's the latest craze in startups in Southern Califonia? It looks to be startup accelerators. In just the last few weeks, at least five different incubation/acceleration efforts have booted up in the region. Here's a rundown of the latest (but not all) of the incubation/acceleration efforts in the area:
MuckerLab--which just launched this morning, is headed by Erik Rannala (formerly of Silicon Valley venture firm Harrison Metal) and William Hsu (formerly of AT&T Interactive), and is (More info...)
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MuckerLab Takes TechStars Incubation To Los AngelesA new, technology startup accelerator modeled after the TechStars venture incubator in Boulder said today it has launched, and will bring business acceleration to Los Angeles. MuckerLab, headed by Erik Rannala, William Hsu, Greg
Bettinelli and Yan-David Erlich, said it will employ a similar model to TechStars and Y-Combinator, recruiting Internet softwar,e services, and media entrepreneurs through a three month program. The group has affiliated itself with TechStars, through the TechStars Netwo (More info...)
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Interview with Dan Tamkin, Unified DispatchIt's a story you hear too many times: a venture or angel funded firm just can't figure out its business, runs low on cash, can't get another round of funding, and soon all that's left is a few chairs and servers. However, every so often, you hear about a firm at that point, which is able to turn around, build a sustainable business, and is eventually sold for a positive return. That's the story at Altadena-based Unified Dispatch, which was recently sold to the On-Demand Division of Veolia. The f (More info...)
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Total Immersion Takes On AR Video GamesLos Angeles-based Total Immersion, the developer of augmented reality (AR) software, is aiming at the game development market with its technology today, saying it has released a new version of its software specifically aimed at game and application developers. The firm--which also released a free, AR-based game called SkinVaders for the iPhone, iPad, and iPod touch--said it is looking to help developers create new cross-platform games and applications using its technology. Total Immersion said i (More info...)
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VIZIO Launches Free Hulu Plus OfferIrvine-based VIZIO is dangling three free months of Los Angeles-based Hulu's premium service, Hulu Plus, to its tablet owners, the firm said today. VIZIO said it will provide three free months of Hulu Plus subscriptions to both current and new VIZIO Tablet owners, as part of a pre-load deal. VIZIO said it is now preloading Hulu Plus on its 8" tablet, and will also offer up the three months of service to current owners who update their tablet with the Hulu Plus app, starting today. VIZIO began su (More info...)
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TrueCar Powers VroomGirlsSanta Monica-based TrueCar, the provider of online car buying software and pricing information, said today that it is powering the online car buying programs for VroomGirls.com, a new, Los Angeles-based website targeting automotive information for women. Financial details of the deal were not announced. TrueCar said its online car buying program will allow VroomGirls users to local great local prices on automobiles via its network of dealers. VroomGirls offers up reviews on cars, driving tips, a (More info...)
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Kofax Wins $700,000 ContractIrvine-based Kofax, which develops document capture and business process automation software, reports this morning that it has scored a $700,000 contract from a health insurance provider. The firm said the contract goes towards an invoice processing solution from the company, to automate processing of approximately 250,000 invoices, expense receipts, check requests, and other accounts payable documents. Name of the customer was not disclosed.
posted on Thursday, October 20, 2011(Full story)
Verenium Gets $16M in Credit LineSan Diego-based biotechnology firm Verenium announced this morning that it has scored credit lines totaling $16M, for the development of its enzyme development efforts. The firm said it has entered into an agreement with Comerica Bank and the Export-Import Bank of the United States for two 18-month, secure revolving credit facilities worth up to $13M, plus also $3M in secured equipment financing for a building at its laboratories and headquarters in San Diego. Details on the terms of those credi (More info...)
posted on Thursday, October 20, 2011(Full story)