Friday, March 14, 2014Ixia Gets Another Nasdaq WarningCalabasas-based Ixia, which develops network testing hardware and software, has received another warning from the Nasdaq over issues stemming from the sudden departure of its CEO last year over the discovery he had fabricated his resume. Ixia said that the warning came due to the delay in filing its annual Form 10-K annual report, for its fiscal year ended December 31, 2013. Ixia said it has until March 18th--Tuesday--to submit a plan to regain compliance with the listing. The company already wa (More info...)
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Leap Wireless Acquisition By AT&T CompletesSan Diego-based prepaid wireless provider Leap Wireless--better known by its prepaid phone brand, Cricket--is now officially part of AT&T, AT&T said late Thursday. The two had announced the $1.2 billion deal back in July of 2013, with AT&T paying $15 per share in cash to Leap Wireless shareholders. AT&T said it will use Leap Wireless to create a "new Cricket" with new, access to AT&T's nationwide 4G LTE network, and offer up a new set of simple, low cost rate plans and smartphones.
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Hack This: How Edmunds.com's Hackathons Are Inspiring Outside InnovationHow do you bring an outside perspective and a startup's nimble perspective to your products, if you're a big, established company? Are developers willing to invest their time and energy in building solutions around your products, company, or organization? One local company--Edmunds.com (www.edmunds.com)--has been very active looking to tap into the innovative spirit in the community through its own hackathons -- days-long, endurance events where teams come together to quickly built and prototype (More info...)
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OTOY Launching Rendering Engine On Amazon EC2Los Angeles-based cloud graphics company OTOY, a developer of cloud-based, game rendering engines, said Thursday that it will launch its Brigade path tracing and rendering technology to Amazon EC2. According to OTOY, the technology--which is used to render scenes in videogames via the cloud--will become available on Amazon EC2 in the second half of the year. OTOY's technology harnesses the cloud to render graphics via the huge amount of processing resources available via the cloud, which cuts th (More info...)
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Materia Raises $14.9MPasadena-based advanced chemistry technology developer Materia has raised $14.9M in the first part of what looks to be a $50.0M fundraising effort, according to a regulatory filing this week. Details on the funding have yet to be announced by the company. Materia develops Nobel prize winning technology for the production of small, medium, and large molecules, called metathesis, which was developed at Caltech. Materia's technology was developed by Caltech Nobel Prize winner Robert H. Grubbs, and (More info...)
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Acorns Grow Finds $5.5M For Micro InvestingNewport Beach-based ACorns Grow, a developer of a mobile phone driven service which will sweep loose change from a user's credit card purchases into an investment account, has raised $5.5M in a Series B funding round. Acorns has yet to release its service. Source of the funding was not announced, hwoever, the funding round was arranged by Digital Offering and Europ Pacific Capital. Acorns Grow is led by Walter Cruttenden.
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QLogic Completes Ethernet Asset Buy From Broadcom, Chops StaffAliso Viejo-based network hardware developer QLogic said late Thursday that it has completed its acquisition of the 10/40/100Gb Ethernet controller assets from Broadcom, as well as cut staff as part of a restructuring effort related to the move. QLogic did not say how many employees were affected by the cuts, which it says is part of a restrcutring plan to consolidate its product roadmap. QLogic said it is consolidating its engineering activities in the move. The company is taking a charge of be (More info...)
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Ignyta Prices IPOSan Diego-based precision medicine developer Ignyta has priced its IPO, saying last night that it is offering up 5,245,000 shares of its common stock at $9.15 a share. The IPO will raised $48.0M for the company. Ignyta will trade on the NASDAQ Capital Market as RXDX, starting today. Ignyta's offering was run by Leerink Partners and Ladenburg Thalman & Co. Ignyta is a precision medicine company targeting treatment for cancer.
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