Silicon Valley Wire

Intuit to Acquire San Francisco-based Demandforce in $423.5M Deal

Mountain View, Calif. -- Intuit, the Mountain View-based maker of business and financial management software, said on Friday it will acquire San Francisco-based Demandforce in a deal valued at $423.5 million. Demandforce is the developer of a web-based app used by small businesses to automate marketing and customer communications, build their online reputation and target local consumers. The company's email, mobile and social tools, such as online reviews, have gained  strong traction with clients in fields such as dental, automotive, spas and salons, optometry and chiropractors.  "Demandforce sits at the sweet spot of Intuit's SMB customer base and is consistent with our goal to help our customers save time and make money," said Kiran Patel, executive vice president and general manager of Intuit's Small Business Group. The deal is expected to close in May, when Demandforce will become a division in Intuit's Small Business Group. Rick Berry, the founder and president of Demandforce, will lead the division.
http://www.intuit.com
http://www.demandforce.com/
http://www.businesswire.com/news/home/20120427005308/en/Intuit-Acquire-Demandforce

Agilent to Acquire Test and Measurement Business of Centellax

Santa Clara, Calif. -- Agilent Technologies, the Santa Clara-based measurement technology company, said on Friday it will acquire the test and measurement business of Santa Rosa-based Centellax,a supplier of test products for high-speed communications.  Financial terms of the deal, expected to close in about two weeks, were not disclosed. Centellax's test portfolio includes bit-error ratio testers, pattern generators, clock synthesizers, signal-integrity studio software and test accessories. The company's component business is not part of the deal. Juergen Beck, the general manager of Agilent's Digital and Photonic Test Division, said the acquisition will allow his company to "address the complete life cycle needs of our customers."
http://www.centellax.com
http://www.agilent.com
http://www.agilent.com/about/newsroom/presrel/2012/27apr-em12060.html

Fremont-Based Corsair Reveals Details of Upcoming IPO

Fremont, Calif. -- Corsair Components, a Fremont-based supplier of high-performance hardware components for personal computers, with a focus on gaming hardware, has set some of the parameters of its upcoming initial public offering (IPO), which the company now expects to generate as much as $96.6 million. The offering will include as many as 6.9 million shares, which will sell for $12-$14 each. About 4.1 million shares will come from the company, with the remainder coming from current shareholders. Corsair plans to list its stock on the Nasdaq Global Market under the symbol "CRSR."
http://www.corsair.com
http://www.sec.gov/Archives/edgar/data/1486183/000119312512186418/d52593ds1a.htm

Mountain View-Based Google Ventures Co-Leads Funding for Wingu

 
Mountain View, Calif. – Wingu, a Massachusetts-based-based developer of software for the pharmaceutical industry, said it has landed its first round of funding, co-led by Mountain View-based Google Ventures and Borealis Ventures. Financial terms of the deal were not disclosed. Founded in 2009, Wingu offers software designed to enhance the operational efficiency of pharmaceutical research and discovery. The software is designed to track and coordinate complex distributed research projects that require tight integration between pharmaceutical companies and partners.
http://www.googleventures.com/
http://www.wingu.com
http://www.wingu.com/blog/2012/04/wingu-announces-funding-led-by-google-ventures/

Mountain View-Based DITTO Lands $3 Million in Funding

Mountain View, Calif. -- DITTO, the Mountain View-based developer of an e-commerce site for designer eyewear that uses 3D virtual fitting technology, said on Thursday it has landed $3 million in a new round of funding, led by August Capital. Angel investors, friends and family also participated in the round. DITTO's site allows consumers to record a short video with their webcam to create a 3D virtual self. Users can then virtually try-on eyewear in 180-degree views to see how a particular style looks and fits their face before they make a purchase. The site also integrates social media features, allowing the user to post side-by-side snapshots in different glasses to Facebook to poll friends for opinions. DITTO plans to use the new funds to further develop its technology, add to its team and market to customers.
http://ditto.com
http://www.marketwatch.com/story/ditto-secures-3m-round-for-designer-eyewear-ecommerce-site-2012-04-26

Logitech Aims to Streamline Management Through Restructuring

Newark, Calif. -- Logitech International, the Swiss maker of personal peripherals with U.S. headquarters in Newark, has announced an organizational restructuring which it said should save the company $80 million in annual operating costs. The moves included the elimination of a layer of business and sales executive management, as well as the consolidation of brand management and product portfolio management under the leadership of Logitech's business groups. "To get back to sustained, profitable growth, we need to be simpler, faster and more consumer-centric," said Bracken Darrell, the company's president. "I expect most of this restructuring to be completed by the end of the current quarter, freeing up resources to pursue our growth opportunities." Logitech reported sales for the fourth quarter of $532 million, down 3% from the prior year.
http://www.logitech.com/
http://www.logitech.com/en-us/172/9921

Mountain View-Based Shape Security Raises $6 Million in First Round

Mountain View, Calif. -- Shape Security, a Mountain View-based start-up developing new web security technology, said on Thursday it has raised $6 million in its first round of funding. Kleiner Perkins Caufield & Byers (KPCB) and Google chairman Eric Schmidt's TomorrowVentures co-led the round, which also included participation by Accel partner Peter Wagner, Baseline Ventures and executives from LinkedIn, Twitter and Facebook. Ted Schlein, general partner at KPCB, has joined the company's board of directors along with Gaurav Garg, a special limited partner at Sequoia Capital and personal investor in the round. "Shape's technology will shift the burden of attack from defenders to attackers," said CEO Derek Smith. "In doing so, Shape is aiming at the economics of web hacking and forcing attackers to spend more and more to achieve less and less."
http://shapesecurity.com
http://www.marketwatch.com/story/shape-security-closes-6-million-series-a-funding-round-led-by-kleiner-perkins-caufield-byers-and-eric-schmidts-tomorrowventures-2012-04-26

Cupertino-Based Seagate Technology to Repurchase $2.5 Billion in Stock

Cupertino, Calif. -- Seagate Technology, a Cupertino-based maker of hard disk drives and storage systems, said on Thursday it plans to repurchase up to $2.5 billion in company shares. Along with other current authorizations, the company now can buy back as much as $3.5 billion in stock. "The repurchase authorization reflects the confidence that the Board and the executive management team have in Seagate’s ability to generate cash, while still investing in innovation and growth opportunities," said CEO Steve Luczo. Seagate on Thursday also named Jay Geldmacher, an executive vice president of Emerson Electric; William Coleman, founder of BEA Systems, and Seh-Woong Jeong, executive vice president of sales and marketing for the Systems LSI Division of Samsung Electronics, to its board of directors.
http://www.seagate.com
http://www.seagate.com/about/newsroom/press-releases/seagate-technology-announces-2.5-billion-share-repurchase-master-pr 
http://www.seagate.com/about/newsroom/press-releases/new-bod-members-4-26-2012-master-pr/

Confidence of Silicon Valley Venture Capitalists Rises Sharply

San Francisco -- The confidence of Silicon Valley venture capitalists rose sharply during the first quarter, according to new report by Mark Cannice, professor of entrepreneurship and innovation at the University of San Francisco School of Management. Based on a survey of 34 Bay Area venture capitalists, the new Silicon Valley Venture Capitalist Confidence Index came in at 3.79 on a scale of five (with five indicating high confidence and one indicating low confidence). The index rose from 3.27 a quarter ago. "Venture capitalists… pointed to a more welcoming public financial market that is providing more liquidity opportunities for their portfolio firms, along with technology convergence in mobility, cloud and social platforms, which is fostering the development of a wide range of entrepreneurial endeavors," wrote Cannice. The full report is available at the link below.
http://www.usfca.edu/uploadedFiles/Destinations/management/Docs/Cannice_SV_VC_Index_2012_Q1.pdf (PDF)

Redwood City-Based Shutterfly to Acquire Kodak Gallery Assets

Redwood City, Calif. -- Shutterfly, the Redwood City-based photo sharing site, said on Wednesday it will pay $23.8 million to acquire assets of the Kodak Gallery online photo services business. The company was the lone bidder in a bankruptcy auction for the assets, and said it will work with Kodak to transfer customers and images onto its platform. "Our acquisition… a perfect example of the consolidation that we believe will play an important role in helping Shutterfly solidify our leadership position in the social expression and personal publishing category," said Jeffrey Housenbold, the company's president and CEO.
http://www.shutterfly.com
http://ir.shutterfly.com/releasedetail.cfm?ReleaseID=667215

Mountain View-Based Citrus Lane Raises $5.1 Million in First Round

Mountain View, Calif. -- Citrus Lane, the Mountain View-based developer of a subscription e-commerce site focused on products for young families, said on Wednesday it has raised $5.1 million in its first round of funding. GGV Capital and Greylock Partners participated in the round, which the company will use to continue expanding its business and adding several new hires. For $25 a month, members of Citrus Lane receive monthly care packages of 4-5 "best of" products based on their child's age. The company curates its recommendations from partner brands such as Green Toys, Weleda, Zoli and Episencial. Founders Mauria Finley and Claire Hough are former executives of companies such as eBay, PayPal and NexTag. Citrus Lane raised a seed round of financing in March 2011 and shipped its first boxes in July 2011.
http://www.citruslane.com
http://blog.citruslane.com/2012/04/exciting-citrus-lane-news/
http://www.businesswire.com/news/home/20120425005933/en/Citrus-Lane-Announces-5.1-Million-Series-Funding

San Francisco-Based Delivery Agent Names Kelyn Brannon as CFO

San Francisco -- Delivery Agent, a San Francisco-based provider of e-commerce services for major entertainment and sports properties, on Tuesday named Kelyn Brannon as CFO. Brannon most recently served as the executive vice president and CFO of Calix, and previously held the same roles at Calypso Technology. The hire comes nearly six months after the company raised $35.5 million in its fifth round of funding, led by Intel Capital.
http://www.deliveryagent.com
http://www.deliveryagent.com/2012/04/delivery-agent-appoints-kelyn-brannon-as-chief-financial-officer/

IMS Health Acquires San Francisco-Based DecisionView

San Francisco -- IMS Health, a Connecticut-based developer of web-based software for life sciences organizations, said on Tuesday it has acquired DecisionView, a San Francisco-based developer of software designed to help life sciences organizations plan and track patient enrollment for clinical trials. Financial terms of the deal were not disclosed. DecisionView will become part of IMS's Healthcare Value Solutions business. "Through this acquisition, we will enhance clinical trial productivity – transforming the way patient studies are planned and executed," said Andrew Kress, the senior vice president of IMS Healthcare Value Solutions.
http://www.imshealth.com
http://www.decisionview.com
http://www.imshealth.com/portal/site/ims/menuitem.d248e29c86589c9c30e81c033208c22a/?vgnextoid=e5df509d881e6310VgnVCM10000076192ca2RCRD&vgnextchannel=3e382115cc4be210VgnVCM10000071812ca2RCRD&vgnextfmt=default

Sunnyvale-Based TorreyPoint Acquires Proteus Networks

Sunnyvale, Calif. -- TorreyPoint, a Sunnyvale-based provider of information systems consulting services, said on Tuesday it will acquire Maryland-based Proteus Networks, a provider of network consulting and training services. Financial terms of the deal were not disclosed. "The Proteus acquisition will enable TorreyPoint to expand our current geographic coverage and engineering services while providing enhanced in-house training and publication programs to benefit our partners and customers," said Steve Fazio, the co-founder and CEO of TorreyPoint. Proteus's management team will remain intact, with the company continuing to operate as a separate brand. 
http://www.torreypoint.com
http://www.proteus.net
http://www.marketwatch.com/story/torreypoint-acquires-proteus-networks-2012-04-24

Ultragenyx Pharmaceutical Relocates HQ to Larger Facility in Novato

Novato, Calif. -- Ultragenyx Pharmaceutical, a biotechnology firm focused on developing treatments for rare and ultra-rare genetic disorders, said on Monday it has relocated its corporate headquarters to a larger facility in the Bel Marin Keys area of Novato. The company said the move will accommodate future staff growth while allowing it to expand operations in the areas of clinical development, regulatory affairs, technical operations and administration.  The company will continue to lease lab facilities at the Buck Institute in Novato, which currently houses its research staff.
http://www.ultragenyx.com 
http://www.marketwatch.com/story/ultragenyx-relocates-company-headquarters-to-support-operational-expansion-2012-04-23

Intel Capital Leads $15 Million Round for ScienceLogic

Santa Clara, Calif. -- Intel Capital, the investment arm of Santa Clara-based chipmaker Intel, has led a new $15 million round of funding for ScienceLogic, a Virginia-based developer of IT operations and cloud management software, the company announced on Monday. Previous backer New Enterprise Associates (NEA) also participated in the company's second round, which increases its total backing to $30 million. In addition, ScienceLogic on Monday named John Becker as its new CEO, succeeding co-founder David Link, who will remain chairman. Becker is the former CEO of Approva, Cybertrust, TruSecure and Axent Technologies. ScienceLogic's platform is used by service providers, corporations and government agencies to improve the efficiency of their IT operations and allow them to add new services across data center and cloud computing infrastructures.
http://www.intel.com/about/companyinfo/capital/index.htm?iid=subhdr+info_captial http://www.sciencelogic.com/news-and-events/press-releases/sciencelogic-raises-15
-million-led-intel-capital-names-technology

San Jose-Based LED Engin Raises Fifth Round of Funding

San Jose, Calif. -- LED Engin, a San Jose-based developer of high lumen density LED lighting components and optics, said on Monday it has raised has raised unspecified amount in its fifth round of funding, led by GVT Fund. MSIVC and previous backers WK Technology Fund, Partech International, NGP Energy Technology Partners and company chairman Keh-Shew Lu also took part in the round, which the company will use to broaden its product portfolio, increase manufacturing capacity and expand its worldwide sales and marketing network. "The latest round of funding provides LED Engin with the financial resources it needs to accelerate growth," said David Tahmassebi, the president and CEO of LED Engin.
http://www.ledengin.com/
http://www.businesswire.com/news/home/20120423005515/en/LED-Engin-Successfully-Closes-Series-Funding

Microsoft to Sell AOL Patents to Facebook for $550 Million

Redmond, Wash. -- Just two weeks after announcing a billion-dollar deal to acquire parents from AOL, Microsoft said on Monday it has agreed to sell a portion of those patents to social networking giant Facebook for $550 million. The deal includes approximately 650 of the 925 patents Microsoft originally bought from AOL, plus licenses to several more. Microsoft will retain ownership of approximately 275 of the patents.  "Today's agreement with Facebook enables us to recoup over half of our costs while achieving our goals from the AOL auction," said Brad Smith, executive vice president and general counsel of Microsoft. Ted Ullyot, general counsel of Facebook, called the deal "another significant step in our ongoing process of building an intellectual property portfolio to protect Facebook's interests over the long term."
http://www.microsoft.com
http://www.microsoft.com/en-us/news/Press/2012/Apr12/04-23AprilAnnouncementPR.aspx