Tuesday, September 2, 2014Google Taps UCSB Team For Quantum ProcessorsInternet giant Google said late Tuesday that it has tapped a research team from UC Santa Barbara, to help build new, new quantum information processors based on superconducting electronics. those processors are being applied to design of artificial intelligence at Google. Google said that John Martinis and his team at UC Santa Barbara is helping in the hardware initiative with the company. Financial details of the deal were not disclosed. Quantum computers are expected to allow for much faster c (More info...)
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DoubleBeam Takes On Mobile RebatesPasadena-based DoubleBeam, the provider of mobile payment and related technology led by Ted Tekippe, said last week that it has launched a new mobile rebate product for retailers. The company said its technology is white labeled, and typically is embedded into a brand's mobile or web experience. Pricing and other details on the new mobile rebate product was not announced. The company said the new product includes a mobile SDK and other resources. Doublebeam's technology helps retailers, e-commer (More info...)
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Sonos Connects Directly To Wi-FiSanta Barbara-based whole home audio systems and wireless speaker manufacturer Sonos said today that it is now supporting direct connections to its customers' Wi-Fi network, so that a wired connection to a user's router or use of a special SONOS BRIDGE device is no longer use. Sonos said its products, such as the PLAY:1, can now directly connect to a Wi-Fi router, with the company's Sonos 5.1 software update. Sonos had originally developed its whole home, wireless audio system to use its own pro (More info...)
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Measurabl Gets $2M For Sustainability SoftwareSan Diego-based Measurabl, a provider of sustainability reporting software, disclosed this morning that it has raised $2M in a seed funding from CrossCut Ventures. Measurabl is led by Matt Ellis, formerly the Director of Sustainability Solutions at CBRE. Measurable develops a cloud-based software product to help companies publish sustainability reports, synchronizing data from utilities, service providers, internal systems, and more, and automatically creating reports from all of that data.
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Kofax Buys Softpro GmbHIrvine-based Kofax announced this morning that it has acquired Softpro GmbH, a developer of signature verification, fraud prevention, and electronic signature software. Kofax said it has paid $34.7M in cash for SoftPro. Kofax said that Softpro has approximately 80 employees, and had 2013 revenues of $13.3M. Kofax was advised by B. Riley & Co., LLC in the deal, according to the company. Softpro was based in Boeblingen, Germany. Kofax is a developer of document capture systems and software.
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Legend3D Raises $10MCarlsbad-based Legend3D, a provider of 3D visual effects and technology, said today that it has raised $10M in a Series C funding round. The funding came from Northwater Capital Management and Augustus Ventures Limited. Legend3D said the new funds go towards rapid expansion and setting up a third facility in a "cost advantaged jurisdiction". Legend3D says its technology and services have been used on such titles as Maleficent, Transformers: Age of Extinction and The Amazing Spider-Man 2.
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Novatel Wireless Names New CFOSan Diego-based Novatel Wireless announced this morning that it has appointed Michael Newman as the company's new Executive Vice President and Chief Financial Officer. Newman was most recently at Websense, most recently serving as CFO, but has spent over eleven years at the company. Newman also has served at Gateway Inc. Newman replaces interim CFO Tom Allen, who the company said will continue to provide consulting services to the company. Novatel has been looking for a new CFO since June. Novat (More info...)
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Omnitracs Acquires XRS CorporationSan Diego-based Omnitracs, the developer of fleet management products and services for the transportation and logistics market, said this morning that it has agreed to acquire XRS Corporation, a fellow developer of fleet optimization software. The deal was worth $178M. According to Omnitracs, it paid $5.60 per share for XRS, which is majority owned by Trident Capital and Technology Crossover Ventures. Omnitracs was advised by Jeffries and Kirkland & Ellis on the deal, with financing from Royal B (More info...)
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Cytori Consolidates European OfficesSan Diego-based Cyroti announced this morning that it is consolidating its operations in the EU, and has moved its European offices from Switzerland to Wales, where the company recently build a new manufacturing facility. Cytori said the new office will house its EU-based customer service. The new manufacturing facility is in Deeside, Wales, UK. Cytori said the move will help position it to receive government incentives in Wales, including property tax relief and labor cost defrayment.
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