Monday, June 12, 2017Conexant Acquired By Synaptics For $346.7MIrvine-based Conexant Systems, which develops semiconductors for the audio and voice market, has been acquired by Synaptics, in a deal worth approximately $346.7M in cash. Synaptics and Conexant said Monday afternoon that Synaptics will pay $300M in cash plus 726,666 shares of Synaptics common stock. The deal is expected to close in the third quarter of 2017. Conexant said it was advised by Cowen and Company, LLC and O'Melveny & Myers LLP in the deal. Conexant makes a wide range of semiconductor (More info...)
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WaveMaker Partners Closing New $50M Fund, With Southeast Asia FocusLos Angeles- and Singapore-based WaveMaker Partners, the venture capital firm managed here in LA by Eric Manlunas and David Siemer, with Paul Santos in Sinagpore, said over the weekend that it is finalizing its new, $50M fund. The new fund has a new focus specifically on investing in companies in Southeast Asia. WaveMaker said the new fund has a specific focus on B2B, early stage startups in Indonesia. The new fund is tied to Tim Draper's Draper Venture Network (DVN). The fund is WaveMaker's fif (More info...)
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Elevate Launches Analytics Team In San DiegoSan Diego-based Elevate Credit, a fintech startup aimed at providing credit to non-prime customers, said it has launched a new "Advanced Analytics" center in San Diego. The company said the San Diego team has more than 35 data scientists, including more than 25 member with advanced degrees, and eight with PhDs. Elevate says it has a terabyte-scale Hadoop database it is using to assign risk to consumers, using credit bureau data, web behavioral and performance data, bank account data and other n (More info...)
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Vertos Medical Finds $28M MoreAliso Viejo-based Vertos Medical, which develops minimally invasive treatments for lumbar spinal stenosis (LSS), has raised $28M more in a funding round, the company said on Monday morning. The new funding was led by MVM Life Science Partners LLP, a new investor in the firm, and also included prior investors Leerink Revelation Partners, Pitango Venture Capital, ONSET Ventures, and Aweida Venture Partners. As part of the funding, Hugo Harrod of MVM will join the company's board of directors.
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Mayor Garcetti Launches BlueLA, New EV Car Sharing ProgramA new, electric car sharing program was launched by Los Angeles Mayor Eric Garcetti on Friday, called the BlueLA Electric Car Sharing Program, in an attempt to bring electric car vehicle sharing to low income communities. The new program, which is being run by Blue Solutions, will initially offer up electric vehicles in the Westlake, Pico Union, Koreatown, Echo Park, and Downtown Los Angeles areas of Los Angeles, and specifically is aimed at expanding access to electric vehicles to low-income an (More info...)
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Mavenlink Expands To EuropeIrvine-based cloud software developer Mavenlink announced today that it has made its first expansion into Europe, and opened up a new office in London to service the region. Mavenlink's software is used by consulting firms, IT services organizations, creative agencies, and professional services organizations, and others to manage their projects, people, and other efforts. Mavenlink is led by CEO Ray Grainger. The company says it is in the midst of a big growth spurt, with plans to double its num (More info...)
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Toshiba Debuts World's First Copier With Eraseable InkIrvine-based Toshiba America Business Solutions, the U.S. arm of the Japanese technology giant Toshiba which develops copiers and printers, has rolled out the world's first copier which can product erasable, black and white prints. According to Toshiba, its new printer allows organizations to re-use paper, which can automatically erase all printed content on a page. Users can reload the printer with used paper in a special cassette or bypass try, and have that paper erased by the machine. Toshib (More info...)
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Qualcomm, LifeScan Team on Wireless Data CollectionSan Diego-based Qualcomm, and its life sciences subsidiary, Qualcomm Life, announced this morning that it has teamed up with LifeScan, a developer of blood glucose meters, to enable wireless data collection for those devices. LifeScan, which is part of the Johnson & Johnson Diabetes Care Company, will use Qualcomm's 2net products to enable wireless data capture from its OneTouch Verio Flex blood glucose meters. Financial impact of the deal was not announced.
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