Wednesday, December 14, 2011Double Fusion Acquires NeoEdge NetworksSanta Monica-based Double Fusion, which operates an in-game advertising network, said Wednesday that it has acquired NeoEdge Networks, a social and casual in-game advertising firm. Financial terms of the acquisition were not announced. Double Fusion said the acquisition is part of a "major expansion" at the company, which also includes the opening of a new sales office in New York, and the addition of Canadian distribution relationships. Double Fusion said that NeoEdge adds over 100 million mont (More info...)
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Maxwell Technologies Gets $27.5M Credit LinePublicly held energy and power storage firm Maxwell Technologies, which is based in San Diego, has gained $27.5M in a credit facility, which will be used for working capital and capital expeditures. The credit line came from Wells Fargo. The two said the new line will go to finance growth in Maxwell's ultracapacitor product group.
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Eisner Backs TaskRabbitMichael Eisner, the former CEO of the Walt Disney Company, has backed TaskRabbit, the operator of an online marketplace to help connect people with workers to do any number of tasks. According to TaskRabbit, Eisner has agreed to become an advisor to the company, and also invested in the company via The Tornante Company, his investment firm. Eisner joined lead investor LightSpeed Venture Partners and Allen & Company in the $17.8M, Series B funding round. TaskRabbit is based in San Francisco, and (More info...)
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Online Spending Tops $1.1 Billion On MondayShoppers are continuing to flock in droves to online stores, spending over $1.1 billion in sales Monday, according to the latest ecommerce numbers from comScore. comScore said that shoppers spent $1.13 billion on Monday, the third heaviest day of spending this holiday spending. The rate of online shopping was a 19 percent increase from last year, and was only behind Cyber Monday ($1.25 billion in sales) and Monday of last week December 5th ($1.17 billion) in sales this year. comScore said that h (More info...)
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Sotera Wireless Raises $12.2MSan Diego-based Sotera Wireless, a developer of wireless vital signs management products has raised $12.2M in a Series D funding. The firm said the round included new investor Cerner Capital, and also included Sanderling Ventures, Qualcomm Ventures, Intel Capital and West Health Investment Fund, all existing investors. The investment deal also includes a commercial agreement with Cerner. Sotera Wireless develops a wireless, patient safety monitoring system, which is currently in review with the (More info...)
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Broadcom Raises OutlookIn a sign of the strength, Irvine-based Broadcom said Wednesday morning that it is raising its financial guidance for the fourth quarter of 2011. The firm raised its forecast to about $1.8 billion, above analyst averages. Broadcom said that the rise in estimates was due to "stronger than expected" shipments, plus tight operational management. Broadcom also said it will have around $5.1 billion in cash and marketable securities in the quarter, based on strong cash flow and a completed debt offeri (More info...)
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KidZui Lands $2.4M More, Launches Original Video EffortsSan Diego-based KidZui, the developer of a service which provides kid-safe content via a search engine and browser, announced this morning that it has raised $2.4M in new funding, and will start creating its own, original video content. The new funding comes from existing investors Mission Ventures and Costella Kirsch. KidZui--which is led by Cliff Boro--said it will invest those new funds in a studio division, Zui Studios, which will create original video content for Zui.com and KidZui. The fir (More info...)
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Amplify Joins Accelerator CrowdVenice Beach-based Amplify, a new startup accelerator headed by Paul Bricault and Richard Wolpert, has uncloaked itself this morning, the latest in a string of startup accelerators in Southern California. Bricault is a Venture Partner at Greycroft Partners, and Wolpert was most recently at the Mailroom fund. Amplify said it will invest in companies at the intersection of technology and entertainment. The accelerator joins a long list of accelerators to ramp their efforts in the region recently, (More info...)
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Qualcomm Leads Investment In PowerCloudSan Diego-based Qualcomm, via its venture capital arm, Qualcomm Ventures, is the lead investor in a developer of software for applying cloud technologies to networks. Palo Alto-based PowerCloud Systems said it raised a $6M, Series B funding round, led by Qualcomm and also including existing investors Walden Venture Capital, Javelin Venture Partners and PARC. PowerCloud is a spinout of PARC. The firm's technology allows networking device providers to add cloud-based remote administration, hardwar (More info...)
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Outcast Links With ECOtality On Advertising NetworkSanta Monica-based out of home advertising network operator Outcast and electric vehicle charging station company ECOtality said this morning that the two have teamed to launch a digital ad network tied to ECOtality's EV charging stations. The two said they will deploy a network of screens on ECOtality's chargers, which are being installed at major retailers, gas stations, and other public locations. Outcast powers many of the gas station pump screens and programming, in addition to similar disp (More info...)
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Kofax Wins $250K ContractIrvine-based Kofax, the provider of business process management products and document scanning systems, reported this morning that it has scored a more than $250,000 contract from the U.S. government. Kofax said the win comes form a U.S. government research institution, and will be used for invoice processing. Kofax said the institution receives more than 70,000 invoices annually.
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Powerwave Technologies Launches Patent SuitSanta Ana-based Powerwave Technologies, which develops wireless products, has launched a patent lawsuit against Microelectronics Technology, Inc. and MTI Laboartory, Inc.. According to Powerwave, it filed a lawsuit in the United States District Court for the Central District of California, Southern Division, claiming that MTI is infringing on one of its patents. The patent in question is U.S. Patent 6,818,477, covering printed circuit board technology.
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uSamp Names New ExecEncino-based uSamp, the online provider of survey panels for the market research industry, said today that it has named Justin Wheeler as its Vice President and General Manager for SurveyBuilder. Wheeler has previously served at such firms as SpotRunner, Yahoo!, and Overture/GoTo.com. uSamp supplies panelists for online surveys and market research. The company is headed by Matt Dusig and Gregg Lavin.
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