Wednesday, July 21, 2010

Skinit Snags $60M

San Diego-based Skinit, a developer of customized "skins" for consumer electronics products, has raised $60M in a funding, the firm said Tuesday. Skinit said the investment was led by ABS Capital Partners and Norwest Equity Partners. The firm said the funding will go towards new products, sales and marketing, as well as to purchase a portion of the shares owned by its founding shareholders. Mark Anderson and Phil Clough of ABS Capital, and Tom Schauerman of Norwest Equity Partners all join the firm's board as part of the funding. As part of the acquisition, founder and CEO Paul Buss will transition out of his position at the firm, and will be replaced by interim CEO Kevin Roberts while a search for a new CEO takes place. More information »

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