Wednesday, February 3, 2016Los Angeles Has 5 Percent Of All Unicorns, Says ReportLos Angeles has 8 percent of all the "unicorn" companies globally, according to a new study released Wednesday by the University of Southern California's Marshall School of Business. According to USC Marshall, it tallied up the numebr of startup companies with $1 billion valuations, as a measure of business activity, and found that Silicon Valley had 39 percent of Unicorns, followed by New York (9%), Beijing (6%), Los Angeles (5%), Boston (4%) and Shanghai (3%). The study's authors said that "Un (More info...)
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Kurion Acquired For $350MIrvine-based nuclear waste remediation technology developer Kurion has been acquired by French company Veolia, in a deal worth $350M, the two companies said today, in a big exit for Kurion's venture backers. Kurion--which rose to prominence after being tapped to clean up radioactive water at the Fukushima Daiichi nuclear reactor in Japan in 2011--was venture backed by Firelake Capital,
Lux Capital, and Acadia Woods Partners, and raised somewhat less than $5M in total funding. Kurion was a spino (More info...)
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The Young Turks Sees Iowa Viewer SurgeLos Angeles-based political news site The Young Turks says that it saw record ratings for its live coverage of the Iowa Caucases earlier this week. The online news and politics show said it saw 256,000 unique views over the course of its seven hours of live coverage, which was the largest audience ever for a live broadcast for the company. The broadcast featured founder Cenk Uygur, plus Ana Kasparian, John Iadarola, Ben Mankiewicz, Jimmy Dore and Jordan Chariton. The Young Turks says it has been (More info...)
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The Bouqs Company Finds $12M For Flower DeliveryVenice, California-based The Bouqs Company, the direct, cut-to-order flower delivery provider led by John Tabis, is announcing today that it has raised $12M in a Series B funding. The funding brings the company's total raised to $20M. The Bouqs said the funding came from Quest Venture Partners, Azure Capital Partners and KEC Ventures, along with Enspire Capital and Draper Associates. The new funding will go towards its supply chain, expanding its farm and florist networks, to grow its team, and (More info...)
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Citrix Moves Closer To Split Of GoTo Product LineCitrix Systems is moving closer to a spinout of its GoTo product line this week, saying that it has named Kevin Parker, co-founder and senior operating principal at Bridge Growth Partners as Chairman of a soon-to-be-formed company specifically encompassing the Citrix "GoTo" product line. Those products--most of which are developed in Santa Barbara--will be split out from Citrix in late 2016, according to the company. Citrix has been looking to sell the GoTo product line since last year, after it (More info...)
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5D Robotics Finds $5.5M For Robotics NavigationCarlsbad-based 5D Robotics, a developer of positioning and navigation tools aimed at robot navigation, has raised $5.5M in a seed funding. Names of the seed investors in the company were not disclosed. 5D Robotics said its software uses data from GPS, LIDAR, IMU, odometry, vision, and UWB sensors for far more accurate positioning of vehicles than GPS alone. The company--which is applying its technology from everything from automobiles to unmanned, aerial drones--said its technology is accurate (More info...)
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mophie Acquired By ZAGG For $100MTustin-based mophie, the developer of cell phone cases and other mobile accessories, is being acquired by fellow mobile case maker ZAGG, the two said late Tuesday. According to ZAGG, it will pay $100M, plus earn out, for mophie, creating a new mobile accessory company with 2015 net sales of approximately $470M. mophie was led by CEO Daniel Huang. Zagg said that Huang and COO Shawn Dougherty will remain in their current roles throughout the earn out period. The companies did not say how the acqui (More info...)
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LAC Group Gets Private Equity InvestmentLos Angeles-based LAC Group, a provider of outsourced library, information, and knowledge management services, said today that it has received a private equity investment from TZP Growth Partners I. Size of the investment was not announced. LAC Group, which was founded in 1986, offers up outsourced library services to corporations, government agencies, law firms, financial institutions, and universities. LAC Group said the recapitalization will help it enhance its technology and systems, recruit (More info...)
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The Gores Group Buys VITAC CorporationLos Angeles-based private equity investor The Gores Group said Tuesday that it has acquired VITAC Corporation, a provider of closed captioning services for the media industry. Financial terms of the acquisition were not announced. VITAC Corporation had been owned by Merrill Corporation, and is based in Canonsburg, PA. Gores said the investment came via its Small Capitalization Partners investment fund.
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Final Draft Acquired By Cast & Crew EntertainmentCalabasas-based software developer Final Draft, which develops screenwriting software, has been acquired by Burbank-based Cast & Crew Entertainment Services. Financial terms of the acquisition were not announced. Cast & Crew said the buy will help expand its suite of technology solutions. The acquisition was supported by private equity investor Silver Lake Partners, which is the majority owner of Cast & Crew. Final Draft was founded by Marc Madnick and Ben Cahan in 1986, after Madnick--at the t (More info...)
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Cubic Completes $232.5M Acquisition of GATR TechnologiesSan Diego-based defense and transportation systems provider Cubic said Tuesday that it has completed its $232.5M acquisition of GATR Technologies, a manufacturer of satellite communications terminals. Cubic said the completion comes after receiving final Hart-Scott-Rodino regulatory approval on the deal. Cubic agreed to acquire GATR in December. GATR Technologies was based in Huntsville, Alabama, and sells its satellite terminals to the Department of Defense, intelligence agencies, and also comm (More info...)
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eHarmony Completes Final IT Infrastructure UpdateLos Angeles-based eHarmony, the online matchmaking services provider, said yesterday that it has completed a major IT infrastructure refresh. The big push to update the company's systems--including what had been a old web, non mobile friendly UI--started four years ago, when the company pulled back founder Dr. Neil Clark Warren as CEO. The company said the refresh is the third phase of IT infrastructure plans it first announced in 2014.
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