socaltech.com TechNews - Wednesday, November 18, 2015

Benjamin F. Kuo Wed, 18 Nov 2015 06:18:01 -0800

socaltech.com TechNews - Wednesday, November 18, 2015
Edited by Benjamin F. Kuo
ISSN: 1524-6736
http://www.socaltech.com/News
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--Card.com Raises $9M To Ramp Mobile Banking Efforts
--Oversee.Net's Lawrence Ng Sets Up Startup Incubation Fund
--Microsemi Boosts PMC-Sierra Bid To $2.3 Billion
--WellCaster Sets Up Shop In LA, Hires Jay Goss As President
--Clearlake Capital Buys Syncsort
--SpaceX Only Bidder In Air Force Launch Contract
--ScoreBig Names New Marketing VP

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Card.com Raises $9M To Ramp Mobile Banking Efforts
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Santa Monica-based CARD.com, the online financial services provider
led by Ben Katz, is announcing this morning that it has raised $9M in
a growth capital facility, from Columbia Pacific Advisors' Growth
Capital Strategy and Fenway Summer Ventures. The company offers up
(More...)
http://www.socaltech.com/card_com_raises_9m_to_ramp_mobile_banking_efforts/s-0062871.html

Oversee.Net's Lawrence Ng Sets Up Startup Incubation Fund
----
Lawrence Ng, the co-founder of Oversee.net, said this morning that it
has launched a new, startup fund called the OnRamp Fund, a $10M,
international incubation fund that invests in early stage startups.
OnRamp Fund said it will offer up access to mentoring and advisors,
funding, and cross-border support for its startups, particularly with
those looking to reach across the United States, Taiwan, and China.
The company said one of its first investments is bridal retailer
SimplyBridal. Ng started Oversee.net in 2008, and he and his
co-founders eventually sold the company to Oak Hill Capital for $150M.
OnRamp said its advisors include Brian Liu (Legalzoom), Scott Jarus
(EV Connect), Jamie Lin (AppWorks), Eytan Elbaz (Opposing Views), and
Gene Morphis (formerly of David's Bridal).
http://www.socaltech.com/oversee_net_s_lawrence_ng_sets_up_startup_incubation_fund/s-0062873.html

Microsemi Boosts PMC-Sierra Bid To $2.3 Billion
----
Aliso Viejo-based semiconductor developer Microsemi said today that it
has boosted its bid for PMC-Sierra, to $12.05 per share in cash and
stock, valuing the the hostile bid for the company to $2.3 billion.
Microsemi said it is now proposing to pay $9.22 in cash and 0.0771x of
share of its common stock for every share of PMC common stock. The new
bid comes after PMC-Sierra's board rejected Microsemi's prior bid,
saying that--although the total enterprise value was higher than its
original buyout offer from Skyworks--that it still preferred Skyworks'
all cash deal. PMC-Sierra said Monday that, because of the
geopolitical climate and recent events, it preferred Skyworks' $10.50
per share cash deal over a split of cash and stock from Microsemi.

WellCaster Sets Up Shop In LA, Hires Jay Goss As President
----
WellCaster, a developer of enterprise wellness apps, has set up its
operations in Los Angeles, and hired LA technology veteran Jay Goss as
President of the company. The company--which originally started in New
York--develops mobile apps specifically aimed at enterprise customers
ofering up wellness apps to their employees. The app runs on iOS and
Android. The company's apps include educational content on such topics
as diet and stress. Goss hass previously been an executive at Mogreet,
Numedeon (Whyville), RxVantage, and ExecuSurv. WellCaster says it now
has offices in both Los Angeles and New York.

Clearlake Capital Buys Syncsort
----
Santa Monica-based private equity investor Clearlake Capital Group,
L.P. said this morning that it has acquired Syncsort Incorporated, a
developer of enterprise software based in New Jersey. Financial terms
of the acquisition were not announced. Syncsort develops Hadoop and
other big data integration software for the mainframe market. Syncsort
is based in Woodcliff, New Jersey, and offers up Apache Hadoop,
Splunk, Apache Spark, and other analytics software for the IBM z
Systems mainframe and other systems. Synsort said the "significant
investment" from Synsort will help it with an aggressive growth
strategy.

SpaceX Only Bidder In Air Force Launch Contract
----
Hawthorne, California-based SpaceX, the commercial spacecraft and
rocket developer led by Elon Musk, looks to be the only bidder in a
U.S. Air Force contract, to send a next generation GPS satellite into
space. The move comes as competitor United Launch Alliance (ULA)
declined to put in a bid, as a result of being unable to use a Russian
built RD-180 engine as part of the bid. Congress passed legislation
last year requiring that the Air Force phase out use of the Russian
rocket, after Russia's actions in Ukraine.
http://www.socaltech.com/spacex_only_bidder_in_air_force_launch_contract/s-0062866.html

ScoreBig Names New Marketing VP
----
Los Angeles-based ScoreBig, which helps connect consumers with live
entertainment tickets and venues, said this morning that it has named
Scott MacDonell as the company's new Senior Vice President of
Marketing. MacDonell was previously at agency Oxford Road, serving
clients like BlueApron.com and ZipRecruiter. MacDonell was the VP of
Marketing at LegalZoom for 10 years. ScoreBig's service lets consumers
get access to deals on both last minute and advance seats at live
sporting events, concerts, magic shows, comedy clubs, and other live
event venues, while helping to ensure those venues do not go with
seats unsold; the company offers up tickets for the LA Clippers,
Lakers, the Anaheim Ducks, and many others.

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