Wednesday, March 7, 2012
USC Stevens Gives $498,700 To Six Projects
In a bid to spur more startups out of the University of Southern California, the USC Stevens Institute for Innovation said Wednesday that it has awarded $498,700 to six research projects. The USC Stevens Institute--which was founded with significant funding from Mark Stevens, the venture capitalist at Sequoia Capital who is a USC alum--said the six projects were selected from 31 proposals, which were submitted in the summer of 2011. The Institute had 50 members of the Los Angeles business and ac (More info...)

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Energy Innovations' Assets On The Block
The assets of Pasadena-based Energy Innovations are set to go up for auction on March 20th, according to auctioneer Heritage Global Partners, as the firm continues to wind down. Energy Innovations reportedly has been looking for a buyer since earlier this year for the business, which developed concentrating solar photovoltaic modules, aimed at the commercial rooftop market.
Energy Innovations--which had entered the solar market late--was backed by Idealab and Mohr Davidow Ventures. Heritage Gl (More info...)

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Break Media Launches New Game Front
Continuing its push into original content, Los Angeles-based Break Media said today that it has launched a comprehensive redesign of Game Front, its online video game site, to add new, original editorial content, videos, and commentary to the site. Break said that the redesign puts a greater emphasis on the original videos and editorial content. Break acquired Game Front from Ziff Davis back in 2009, when it was known as FileFront. Break Media, which is headed by Keith Richman, has been expandin (More info...)

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UberMedia: Hits 5M Uniques
Pasadena-based, the online social networking site and mobile app run by UberMedia, has now seen more than 5M uniques since its launch, UberMedia said today. UberMedia also said the service has sent 200 million "Chimes" -- the social messages which drive the site -- since launch. allows users to chat with others based on their social interests, and also allowing user to create their own private communities, share YouTube videos and photos, and more around specific topics. Chime. (More info...)

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Eccentex Raises $7.5M
Culver City-based Eccentex, a developer of a software-as-a-service, enterprise business process management product, has raised $7.5M in an equity funding. The funding came from VTB Capital. Eccentex, which is led by Glen E. Shrank, the former President and CEO of HireRight, offers up a cloud-based, platform-as-a-service (PaaS) for electronic document management applications, case management, customer compliant handling, social services, and more.

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Parking In Motion Becomes ParkMe
Los Angeles-based mobile parking information app provider Parking In Motion said today that it has renamed itself ParkMe, and relaunched its mobile app for smartphones. The app--which works on the iPhone and iPad--helps drivers find available parking locations based on their location. The firm--which is backed by IDG Ventures and Fontinalis Partners, the venture fund of Henry Ford's grandson, Bill Ford--said that it has streamlined its app and is now includes features such as a rate calculator, (More info...)

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Pokki Adds Galaxy Life Game To App Platform
Desktop application environment maker Pokki, which is run by San Diego-based SweetLabs, said yesterday that it has added the popular Galaxy Life social game on its environment. The firm said that Galaxy LIfe, which is developed by Digital Chocolate, now runs via its desktop application environment. SweetLabs launched Pokki in June of last year, looking to bring the ubiquity of apps to the desktop PC platform. Pokki is the second project out of SweetLabs, which also runs the OpenCandy advertising (More info...)

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CareFusion Buys Pharmacy Automation Firm
San Diego-based CareFusion said yesterday that it has agreed a technology and consulting firm focused on pharmacy automation, PHACTS, LLC. Financial terms of the buy were not disclosed. PHACTS, which is based in Seattle, provides consulting and software to help pharmacies better manage their inventory and streamline their operations. CareFusion said that it has been a exclusive reseller of PHACTS pharmacy inventory management software and automation since November of 2010. CareFusion said that P (More info...)

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Sequent Medical Raises $26.0M
Aliso Viejo-based Sequent Medical, a developer of medical devices used to treat aneurysms, has raised $26.0M in a venture financing round. The firm said the Series C was led by Delphi Ventures, and also included Versant Ventures, US Venture Partners, and Domain Associates. As part of the funding, James Bochnowski of Delphi Ventures has joined the company's board. Sequent Medical is developing an intrasaccular neurovascular embolization device, which is being applied to stabilize ruptured or unru (More info...)

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WD, Hitachi Storage Acquisition To Close Thursday
Irvine-based disk drive maker Western Digital Corp. and Hitachi, Ltd. said this morning that the two are expecting their deal for the sale of Hitachi's HDD business to WD to close on March 8th. WD and Hitachi said the two have obtained all of the required, regulatory approvals for the acquisition of Viviti Technologies Ltd., the holding company for Hitachi Global Storage Technologies. The approvals have been a long time coming for the deal, which was originally announced in March of 2011. At the (More info...)

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Nirvanix Targets Healthcare Providers
Cloud storage service provider Nirvanix is looking to expand its customer reach into the healthcare vertical market, saying today that it has linked with intelligent medical imaging lifecycle firm Acuo Technologies. The San Diego storage provider said that Acuo has integrated the latest version of its Universal Critical Platform with its public, hybrid, and private cloud storage services. Nirvanix explained that the move provides HIPAA compliant cloud storage for medical images, such as X-rays, (More info...)

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SRS Labs Adds Chinese TV Maker
Santa Ana-based surround sound and audio technology firm SRS Labs disclosed this morning that it has signed on a Chinese television maker, Guangdong Changhong Co., Ltd. The firm said the Chinese firm, which makes flat panel televisions, will use its surround sound solutions in its FPTV product line. SRS says it now has license deals with eight of the top ten flat panel display makers in the region. Financial details of the licensing arrangement were not disclosed.

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