Silicon Valley Wire

Mountain View-Based Intuit Sells Real Estate Business to Vista

Mountain View, Calif. -- Intuit, the Mountain View-based developer of business and financial management software, said on Friday that it has completed the $128 million sales of its Intuit Real Estate Solutions (IRES) business to San Francisco-based private equity firm Vista Equity Partners. The deal was first announced in early December. Based in Ohio, IRES provides software and services to companies in the real estate management and investment industry, and was part of Intuit's global business division. The business generated $74 million in revenue last fiscal year. 
http://www.vistaequitypartners.com/
http://investors.intuit.com/releasedetail.cfm?ReleaseID=438150

San Jose-Based Presto Engineering Lands $2 Million Investment

San Jose, Calif. -- Presto Engineering, a San Jose-based provider of chip testing and analysis services to semiconductor makers, said that it has landed a new $2 million investment from France's Masseran Gestion to support expansion and future growth in Europe. The company said that part of the funds also will support its development of new RF and 3D-integration technologies. Presto said that its first European hub will be in Caen, France, where it will acquire lab infrastructure from NXP Semiconductor.
http://www.masseran.com
http://www.presto-eng.com
http://finance.yahoo.com/news/Presto-Engineering-Receives-bw-1579364319.html?x=0&.v=1

S.F.-Based Transpera Lands $2 Million for Mobile Video Delivery

San Francisco -- Transpera, a San Francisco-based provider of mobile video delivery services and operator of a mobile ad network, has raised the first $2 million of an expected $5 million round of funding, according to a filing with the Securities and Exchange Commission (SEC). Investors in the round were not disclose, though previous company backers include Flybridge Capital Partners, First Round Capital and Intel Capital. Founded in 2007, Transpera counts AccuWeather.com, CBS News, Discovery Communications, MSNBC.com, MTV Networks, Showtime and the Travel Channel among its customers.
http://www.transpera.com/
http://www.sec.gov/Archives/edgar/data/1480065/000148006510000001/xslFormDX01/primary_doc.xml

Survey: Tech Firms Expected to Lead Stronger IPO Market in 2010

Chicago -- Amid buzz surrounding potential initial public offerings by social networking giants Facebook, Twitter and LinkedIn, the majority of investment banking executives foresee a stronger IPO market in the U.S. this year, according to a new survey by accounting and consulting firm BDO. More than two-thirds (68%) believe that IPO activity will increase this year compared to 2009, with almost a quarter describing the increase as "substantial." Overall, bankers predict a 25% increase in the number of U.S. IPOs in 2010, with offerings expected to average just over $400 million in size. "This inaugural survey reveals broad-based optimism among the capital markets community that offering activity in the new year will build on the momentum established this past fall," said Christopher Tower, a partner in BDO's Capital Markets Practice. "Overall, the bankers' outlook for IPOs is very positive, but some industry sectors are clearly seen as stronger than others." Among the strongest are technology, energy, biotech and healthcare.
http://www.bdo.com/news/pr/1226

Google Increases U.S. Search Share in December

Mountain View, Calif. -- Google's share of the U.S. search market grew in December, while the popularity of upstart Microsoft Bing popularity fell a bit, according to new data from measurement firms Experian Hitwise and Nielsen. According to Hitwise, Mountain View-based Google took 72.25% of the market in December, followed by Sunnyvale-based Yahoo (14.83%), Bing (8.92%) and Emeryville-based Ask.com (2.54%). Nielsen's figures show Google with 67.3% of the market, compared with Yahoo (14.4%), Bing (9.9%) and Ask.com (1.7%). Both firms noted that Google increased its search share in December, while Bing lost he most ground to its competitors.
http://www.hitwise.com/us/press-center/press-releases/search-enginedec2009/
http://blog.nielsen.com/nielsenwire/online_mobile/top-u-s-web-brands-and-site-usage-december-2009/

Santa Clara-Based Intel Posts $2.3 Billion Profit, Trounces Estimates

Santa Clara, Calif. -- Intel, the Santa Clara-based chip-making giant, on Thursday reported a fourth-quarter profit of $2.3 billion, nearly 10 times its profit of a year ago and well above consensus Wall Street estimates. Earnings per share of $0.40 trounced analyst estimates by $0.10, according to a poll by Thomson Reuters. Revenue of $10.6 billion were 28% higher than levels of a year ago. Despite the recent recession, Paul Otellini, Intel's president and CEO, said that "our ability to weather this business cycle demonstrates that microprocessors are indispensable in our modern world."
http://www.intel.com
http://finance.yahoo.com/news/Intel-FourthQuarter-Net-bw-658239866.html?x=0&.v=1

SAIC to Acquire Sunnyvale-Based CloudShield Technologies

Sunnyvale, Calif. -- Looking to bolster its cybersecurity offerings, Science Applications International Corporation (SAIC), the large government technology contractor based in Virginia, said on Thursday that it has reached a deal to acquire Sunnyvale-based CloudShield Technologies, developer of a platform that lets customers inspect, analyze and control network traffic. Financial terms of the deal, expected to close by mid-February, were not disclosed. Founded in 2000, CloudShield provides services management and infrastructure security tools to service providers and national governments. The company's platform consists of computer hardware, operating systems, application development environments and numerous applications. CloudShield will join SAIC's Intelligence and Information Solutions unit, part of the company's Intelligence, Security and Technology Group, led by Stu Shea.
http://www.cloudshield.com/ 
http://investors.saic.com/releasedetail.cfm?ReleaseID=437635

AOL's Ad Products Head Resigns for Role at Yahoo

Sunnyvale, Calif. --  Just three months after being hired to build the company's ad platform, Shashi Seth has left AOL for a similar position at Sunnyvale-based Yahoo. "It is with a heavy heart that I must tell you that I am resigning from my role at AOL," Seth wrote in an email to staff, published by AllThingsD. "Very recent developments in my personal life have made it impossible for me to maintain an executive role that requires extensive travel." Seth was named AOL's senior vice president of global advertising products in early October, working for the company's Mountain View offices. The position required extensive travel to and from AOL's headquarters in New York. "This new role will enable me to remain local," he wrote.  He previously served as the head of monetization for Google's YouTube, and also worked as the product lead for web search at Google. AOL has named Jamie Fellows to head its Global Advertising Products organization on an interim basis.
http://mediamemo.allthingsd.com/20100113/aols-product-guru-and-google-vet-bolts-for-yahoo-after-3-months/

San Jose-Based IDT Acquires Mobius Microsystems

San Jose, Calif. -- Integrated Device Technology (IDT), the San Jose-based developer of mixed signal semiconductor used in digital media, said on Thursday that it has acquired Sunnyvale-based Mobius Microsystems, a developer of all-silicon oscillator technology used for precision timing. Financial terms of the all-cash deal were not disclosed. "Mobius Microsystems' innovative technology extends IDT's clock leadership into high accuracy, crystal oscillator replacements, thereby doubling our served available market," said Ted Tewksbury, the president and CEO at IDT. The move comes tww months after IDT agreed to sell its Micro Networks unit to Pennsylvania-based Spectrum Control for approximately $13 million.
http://www.idt.com
http://www.businesswire.com/news/home/20100114006446/en/IDT-Acquires-Mobius-Microsystems

San Jose-Based Brocade Prices $600 Million Notes Offering

San Jose, Calif. -- Brocade, a San Jose-based maker of data center networking equipment, plans to raise $600 million after pricing a pair of notes offerings on Thursday. The company is offering $300 in senior notes that mature in 2018, and another $300 million that mature in 2020. The sale is expected to close by next Wednesday, with Brocade using $150 million of the proceeds, along with cash on hand, to retire $173 million in notes due next month. The notes originally were issued by the company's McData subsidiary. 
http://www.brocade.com
http://newsroom.brocade.com/article_display.cfm?article_id=1162

San Jose-Based Callidus Software Acquires ActekSoft

San Jose, Calif. -- Callidus Software, a San Jose-based developer of software designed to help manage sales performance, said that it has acquired Alabama-based ActekSoft, which makes software that automates the process of calculating and managing complex commission, incentive and bonus pay arrangements. Financial terms of the deal were not disclosed. Callidus said that the acquisition will give it customers in over 140 countries.ActekSoft's clients include Brooks Brothers Stores, Coventry Health Care, MetLife, United Concordia and XL Health.
http://www.acteksoft.com/
http://www.marketwire.com/press-release/Callidus-Software-Inc-NASDAQ-CALD-1100880.html

Sunnyvale-Based Applied Micro Circuits Cuts 11% of Staff

Sunnyvale, Calif. -- Applied Micro Circuits, a Sunnyvale-based maker of chips designed to process, transport and store information, said that it has cut 11% of its workforce -- approximately 60 employees -- as part of an effort to become more cost-efficient. Affected employees were notified on Tuesday. The company, which will take a related charge of up to $1.7 million, said that the cuts will reduce its net operating expenses by about $1.5 million a year. "This operations integration will reduce operating expenses by taking advantage of a global cost structure," the company said in a statement. Applied Micro also cut just over 100 jobs in early 2009.
http://www.amcc.com
http://biz.yahoo.com/e/100113/amcc8-k.html

Sunnyvale-Based Bridgelux Raises $50M, Names New CEO

Sunnyvale, Calif. -- Bridgelux, a Sunnyvale-based developer of LED lighting technology, said on Wednesday that it has raised $50 million in new funding, and named William Watkins as its new CEO. The company said that its fourth round was led by VantagePoint Venture Partners, with DCM and other previous investors also participating. The company said that it will use the capital to aggressively develop its manufacturing technologies and expand its global manufacturing infrastructure to meet increasing market demand. Watkins, most recently the CEO of Seagate Technology, succeeds Mark Swoboda, who will become president. He also previously served as Seagate's president and COO. Bridgelux's proprietary light source technology replaces traditional technologies such as incandescent, halogen and fluorescent lighting with solid-state lighting products.
http://www.bridgelux.com
http://www.bridgelux.com/news/articles/01132010.html

Google Mulls Pulling Out of China Following Gmail Attacks

Mountain View, Calif. -- Daunted by a series of security breaches and continuing government censorship of its search results, Mountain View-based Google said that it is considering exiting the Chinese market. The company, which entered China in early 2006, said that it recently uncovered a "highly sophisticated and targeted" hack into the Gmail accounts of Chinese human rights activists. The investigation uncovered a larger pattern in which Google said that the accounts of dozens of activists have been "routinely" accessed by third parties, either through malware or phishing scams. "These attacks and the surveillance they have uncovered -- combined with the attempts over the past year to further limit free speech on the web -- have led us to conclude that we should review the feasibility of our business operations in China," David Drummond, Google's senior vice president of corporate development and chief legal officer, wrote in a blog post. Drummond added that the company is "no longer willing to continue censoring our results on Google.cn," and will hold discussions with the Chinese government on possible ways that it could run an unfiltered search engine. "We recognize that this may well mean having to shut down Google.cn, and potentially our offices in China," he said.
http://googleblog.blogspot.com/2010/01/new-approach-to-china.html

Palo Alto-Based VMware Acquires Yahoo's Zimbra Unit

Palo Alto, Calif. -- VMware, a Palo Alto-based provider of virtualization technology, said that it has acquired Sunnyvale-based Yahoo's Zimbra email and collaboration software unit. Financial terms of the deal were not disclosed. Yahoo acquired Zimbra in 2007 for $350 million. Zimbra had at that point raised over $30 million in venture capital financing. The company offers web-based email and calendar applications with collaborative features that counts over 55 million mailbox users. VMware said that the acquisition will further its mission of "taking complexity out of the datacenter, desktop, application development and core IT services, and delivering a fundamentally more efficient and new  approach to IT."
http://www.zimbra.com
http://www.vmware.com/company/news/releases/zimbra.html

Redwood City-Based Amobee to Acquire RingRing Media

Redwood City, Calif. -- Amobee Media Systems, a Redwood City-based developer of advertising technology for mobile operators, said on Wednesday that it will acquire U.K.-based mobile ad agency RingRing Media. Financial terms of the deal, expected to be completed in the first quarter, were not disclosed. Amobee said that the acquisition brings it a step closer to creating "the industry's largest" mobile advertising exchange, connecting publishers, ad agencies and brands to inventory in real-time. It also gives the company a London hub, allowing it to gain a stronger foothold internationally. Amobee's current customers include Telefonica SA and Vodafone Group.
http://www.amobee.com
http://www.ringringmedia.com
http://finance.yahoo.com/news/Amobee-Acquires-RingRing-bw-3678211697.html?x=0&.v=1

Campbell-Based Brilliant Telecom Names Jon Ladd New CEO

Campbell, Calif. -- Brilliant Telecommunications, a Campbell-based developer of network timing and synchronization tools, on Tuesday named board member Jon Ladd as its new chairman and CEO. He succeeds founding CEO Charles Barry, who will remain president. Ladd, who has served on the company's board since October 2008, most recently was a special advisor to the CEO of Hexagon AB, and previously served as the president and CEO of NovAtel. Brilliant in October announced a new $7.6 Million round of funding, co-led by ONSET Ventures and NovAtel. 
http://www.brillianttelecom.com
http://www.brillianttelecom.com/press/press_releases/28/

Redwood City-Based Bright Things Lands $800K for SocialGo

Redwood City, Calif. -- Bright Things, a Redwood City-based social networking technology firm founded by former senior executives of video game publisher Eidos, said on Tuesday that it's flagship venture, known as SocialGo, has landed an $800,000 investment from Gibraltar-based Veddis Ventures. Vikrant Bhargava of Veddis, who previously co-founded PartyGaming, has joined the company's board. Bright Things also said that it has acquired Get On With It (GOWIT) Ltd., which has been providing development and support services for SocialGO since 2007. Financial terms of that deal were not disclosed.
http://www.brightthings.com 
http://www.socialgo.com/
http://finance.yahoo.com/news/Bright-Things-plc-Receives-prnews-1253839753.html?x=0&.v=1

Sunnyvale-Based Schooner IT Names Jerry Rudisin as New CEO

Sunnyvale, Calif. -- Schooner Information Technology, a Sunnyvale-based maker of data-access appliances, on Tuesday named Jerry Rudisin as its new president and CEO. Rudisin, most recently the president and CEO of Agitar Software, succeeds company co-founder John Busch, who becomes chairman of the board and CTO. Rudisin also previously served as the president and CEO of telecom software provider NightFire. "In the past year, we've successfully brought the company and the Schooner appliances out of stealth and into production," said Busch. "Jerry’s expertise will accelerate Schooner's growth."
http://www.schoonerinfotech.com
http://www.schoonerinfotech.com/news-and-events/press-releases/schooner-appoints-new-ceo.html

Shanda Games to Acquire S.F.-Based Mochi Media for $80M

San Francisco -- Chinese online games publisher Shanda Games said on Tuesday that it will pay $80 million to acquire Mochi Media, the San Francisco-based operator of an ad network that includes more than 15,000 online games. Shanda said that it plans to utilize Mochi's platform to help monetize its Chinese web traffic. The company operates more than 30 multiplayer game titles and counts nearly 10 million active paying accounts. Three-year-old Mochi will continue to operate as a standalone company within Shanda Games. "This relationship opens up a new market for Shanda Games and gives them a footprint outside of China, while opening up the Chinese market for Mochi Media and [giving] our community access to Shanda Games' strength and expertise in virtual goods," Mochi Media co-founder Jameson Hsu wrote in a blog post.
http://www.mochimedia.com
http://mochiland.com/articles/mochi-media-is-joining-the-shanda-games-family

San Francisco-Based Flurry Lands $7 Million in Second Round

San Francisco -- Flurry, a San Francisco-based developer of smartphone application analytics and monetization platforms, said on Tuesday that it has raised $7 million in its second round of funding, led by InterWest Partners. Previous backers Draper Fisher Jurvetson, Union Square Ventures, First Round Capital and Draper Richards also participated. Flurry, which recently merged with rival Pinch Media, said that it tracks more than 80% of all consumers across iPhone, iPod touch and Android devices. The company will use the funds to build out new services, hire employees and scale infrastructure.
http://www.flurry.com
http://www.prnewswire.com/news-releases/flurry-raises-7-million-series-b-to-accelerate-mobile-analytics-firms-rapid-growth-81217327.html

Dozens of Bay Area Firms Make 2010 OnMedia 100 List

San Francisco -- A pair of Bay Area companies, Cupertino-based Mobixell Networks and San Mateo-based Coremetrics, have been named category winners in AlwaysOn's 2010 OnMedia 100, a list of the top 100 private digital ad companies, as selected by editors of the San Francisco-based media firm. Mobixell took top honors in the Mobile Marketing and Advertising category, while Coremetrics headed the list in Web and Media Analytics and Research. Baltimore-based Millennial Media was named overall winner. All told, 31 Bay Area firms made the list, which is available at the link below.
http://alwayson.goingon.com/permalink/post/34216

Sunnyvale-Based NeauraLieve Raises $3.9M for Migraine Technology

Sunnyvale, Calif. -- NeuraLieve, a Sunnyvale-based medical technology firm developing devices to treat migraine headaches, has raised the first $3.9 million of a planned $7.5 million equity funding round, according to a filing with the Securities and Exchange Commission (SEC). The company did not disclose the names of the investors. The company said that its non-invasive devices will be placed at the back of the head for less than a minute, generating a focused magnetic pulse that induces a mild electric current in the back of the brain. NeuraLieve said that the action "short-circuits" hyper-excitability in areas of the brain associated with migraines.
http://www.neuralieve.com/
http://www.sec.gov/Archives/edgar/data/1477913/000147791310000001/xslFormDX01/primary_doc.xml

Fremont-Based Virage Logic Opens Dutch Unit, R&D Center

Fremont, Calif. -- Virage Logic, a Fremont-based provider of semiconductor intellectual property for the design of complex integrated circuits, said on Monday that it has launched a new unit in The Netherlands, in conjunction with its new research and development center in the country. The company said that the move is the result of its recent acquisition of intellectual property, engineering talent and equipment from NXP. Virage Logic has named Joshua Rom as managing director of the unit, as well as general manager of its company's newly formed Analog Business Unit.
http://www.viragelogic.com
http://www.businesswire.com/news/home/20100111006736/en/Virage-Logic-Establishes-Corporation-R%26D-Center-Excellence

AOL to Cut More than 1,000 Jobs After Voluntary Program Falls Short

New York -- Unable to sufficiently reduce its headcount through voluntary layoffs, AOL said on Monday that it will lay off more than 1,000 employees this week, with the bulk of those affected set to be notified on Wednesday. The company said that only 1,100 workers volunteered to leave -- far short of its goal of up to 2,500.  "At that time we announced the voluntary program we noted that if we didn't reach our target reduction of a third we would need to follow the voluntary program with an involuntary action," the company said in a statement.. "We did not reach that target." AOL also said that it plans to shut down many of its offices in Europe, beginning with those in Spain and Sweden. Those impacted will receive several packages, benefits and outplacement assistance. The cuts, aimed at cutting expenses by $300 million a year, will leave AOL with about 4,400 employees, down from a high of more than 20,000
http://mediamemo.allthingsd.com/20100111/aol-begins-firing-employees-who-wouldnt-leave/?reflink=ATD_yahoo_ticker
http://paidcontent.org/article/419-aol-begins-new-round-of-layoffs-1100-accepted-buyouts-offered-in-novemb/

Google News Stops Adding Associated Press Articles

Mountain View, Calif. -- Google is no longer hosting new articles published by the Associated Press on its Google News site, perhaps the result of difficult licensing renegotiations between the two parties, Search Engine Land reported. While older AP articles are still accessible on Google News, no new articles from the news organization have been posted to the site since Dec. 24. "We have a licensing agreement with the Associated Press that permits us to host its content on Google properties such as Google News. Some of that content is still available today. At the moment we're not adding new hosted content from the AP," the Mountain View-based company said in a statement.
http://news.google.com
http://searchengineland.com/wheres-ap-in-google-news-33164

Tucker Carlson Launches News Site The Daily Caller

Washington, DC -- Conservative commentator Tucker Carlson and Neil Patel, the former chief policy advisor to Vice President Dick Cheney, on Monday formally launched national news web site The Daily Caller, which some already are calling the conservative answer to the left-leaning Huffington Post. The site features what Carlson termed "straightforward" original reporting on national news, as well as a healthy dose of political commentary. Content also features articles, photos and video from sources such as the AP, TechCrunch and E News, among others. Monday's lead article focused on White House gate-crasher Carlos Allen. Carlson served as editor-in-chief, while Patel, his one-time college roommate, is publisher. The company launches with a staff of nearly two dozen, and also plans to rely heavily on freelance submissions. Initial advertisers include the Alliance of Automobile Manufacturers, Broadband for America, National Mining Association, Southern Company and the U.S. Chamber of Commerce.
http://dailycaller.com/
http://dailycaller.com/letter-from-tucker/
http://www.businesswire.com/news/home/20100111005808/en/Tucker-Carlson%E2%80%99s-Daily-Caller-Launches