Tuesday, November 26, 2013Fisker To Detail Bankruptcy Plans TodayAnaheim-based Fisker Automotive, the ill-fated, once high flying electric vehicle company, is scheduled to outline its plans for bankruptcy today in court, after filing for bankruptcy on Friday. Fisker is currently looking to sell most of its assets to company Hybrid Tech, which acquired the rights to the large, U.S. Department of Energy loan at auction earlier this year. Fisker apparently has a giant list of creditors--including a huge number of customers who had put down deposits on Fisker's a (More info...)
posted on Tuesday, November 26, 2013(Full story)
Virgin Galactic: Buy A Ride To Space With BitcoinsEarlier this week, a local online travel site, CheapAir.com, said that it would take Bitcoin for air reservations--the first time in the U.S. you could use the virtual electronic currency to directly purchase airfare. However, you can travel a lot farther than that today with Bitcoins--thanks to the announcement by Virgin Galactic, the commercial space tourism venture of Sir Richard Branson, which said yesterday that it has begun accepting purchases of rides to space using Bitcoin. In the annou (More info...)
posted on Tuesday, November 26, 2013(Full story)
Moonfrye Adds $1.1M In FundingLos Angeles-based celebrity e-commerce startup Moonfrye, led by TV's former Punky Brewster, Soleil Moon Frye, disclosed last night that it has raised $1.1M more in an extension of an earlier funding round. The funding came via AngelList. Moonfrye develops and sells mobile apps focused kids activities, like arts and crafts and other projects.
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Kayne Anderson Backs ColdLight SolutionsLos Angeles-based private equity investor Kayne Anderson Capital Advisors has backed a developer of automated, machine learning and big data, predictive analytics software called ColdLight Solutions, the company said Monday. Financial terms of the investment were not disclosed. Kayne Anderson manages around $24 billion in capital. The companies did not say if Kayne Anderson took a minority or majority stake in ColdLight, which is based in Wayne, Pennsylvania.
posted on Tuesday, November 26, 2013(Full story)
Microsemi Completes Symmetricom OfferAliso Viejo-based Microsemi said this morning that it has completed its offer for the shares of Symmetricom, and now expects to complete the deal later today. Microsemi is paying $7.18 per share in cash for Symmetricom, or approximately $230M. Symmetricom is a developer of timing and frequency semiconductors used in electronics products. The deal had originally been announced in October.
posted on Tuesday, November 26, 2013(Full story)
Qualcomm Completes Omnitracs Sale; Omnitracs Buys RoadnetSan Diego-based Qualcomm said late Monday that it has completed its sale of Omnitracs, the company's GPS fleet management software and products division, to private equity firm Vista Equity Partners. The deal was worth approximately $800M in cash. In a related move, Omnitracs said it has signed a definitive agreement to acquire Roadnet Technologies, a provider of fleet management software. Financial details of the Roadnet Technologies acquisition were not announced. Roadnet develops fleet manage (More info...)
posted on Tuesday, November 26, 2013(Full story)