*socaltech.com <http://socaltech.com> TechNews - Wednesday, June 14, 2023* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News <https://www.socaltech.com/News> ------------------------------
*Sponsored By * Pacific Western Bank, Venture Banking Group (http://www.pacwest.com/lending-solutions/venture-lending) Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG ------------------------------ *Headlines * - Microsoft Buy Of Activision Blizzard Temporarily Blocked <#0083488> - Sonos Chops 130 Employees <#0083487> - Firestorm Labs Partner In 3D Printed Drone Effort <#0083486> - SpaceX Hires 14 Year Old Child Prodigy <#0083484> - Seismic Capital To Invest $10M In Game Cloud Network <#0083483> - Illumina CEO Out <#0083485> - Blue Microphones Brand Being Phased Out <#0083482> - NanoImaging Services Scores Private Equity Funding <#0083478> *Marketplace* - From Idea to IPO - KPMG’s Emerging Growth Practice <#ad760> - Accelerating Growth For Early Stage Innovation. <#ad764> - Pacific Western Bank, Venture Banking Group <#ad797> - Pixelgate.net - Internet Access, Web Hosting, Network Services <#ad796> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> *Wednesday, June 14, 2023* *Microsoft Buy Of Activision Blizzard Temporarily Blocked* <https://www.socaltech.com/fullstory/0083488.html> The attempted acquisition of Santa Monica-based Activision Blizzard has been temporarily blocked by a judge, according to reports. The order, by a US federal judge, is a result of a request for a preliminary injunction by the Federal Trade Commission (FTC). Microsoft has offered up $68.7 billion for Activision Blizzard, but has been slowly making its way through a number of regulatory hurdles to complete the deal. (More... <https://www.socaltech.com/fullstory/0083488.html>) *Sonos Chops 130 Employees* <https://www.socaltech.com/fullstory/0083487.html> Santa Barbara-based *Sonos <https://www.sonos.com>* said this morning that it has laid off 130 employees, or 7 percent of its workforce, citing "continued headwinds" at the company. According to Sonos, it will tke a charge of $11M to $14M related to the layoffs, including employee severance and benefit costs. Sonos is a maker of whole-home, wireless epakers.(More... <https://www.socaltech.com/fullstory/0083487.html>) *Firestorm Labs Partner In 3D Printed Drone Effort* <https://www.socaltech.com/fullstory/0083486.html> San Diego-based *Firestorm Labs <https://www.launchfirestorm.com>*, which is developing modular drone technology, says it is working with electric propulsion company *Greenjets*, to develop what it says will be a "100% additively manufactured UAV airframe and engine solution." Firestorm Labs is targeting the military market with its technology.(More... <https://www.socaltech.com/fullstory/0083486.html>) *SpaceX Hires 14 Year Old Child Prodigy* <https://www.socaltech.com/fullstory/0083484.html> Hawthorne, California-based *SpaceX <https://www.spacex.com>* appears to have hired a 14-year old prodigy, who recently graduated from college. According to an Instagram post by Kairan Quazi, SpaceX is hiring him as a software engineer; he is apparently moving with his mother to Redmond, Washington <https://www.cbsnews.com/news/kairan-quazi-spacex-teenager-santa-clara-california/> so he can start working at SpaceX.(More... <https://www.socaltech.com/fullstory/0083484.html>) *Seismic Capital To Invest $10M In Game Cloud Network* <https://www.socaltech.com/fullstory/0083483.html> Los Angeles-based Seismic Capital, a new venture capital investor, said it has committed to invest $10M in Game Cloud Network (GCN). Seismic Capital also said it will be providing administrative services, including human resources, benefits, accounting and legal support, to Game Cloud Network, as part of the deal, the investor's first. Seismic Capital is led by Eric White, President and Chief Investment Officer; the company claims that is fund is open to "investors of all income levels". (More... <https://www.socaltech.com/fullstory/0083483.html>) *Illumina CEO Out* <https://www.socaltech.com/fullstory/0083485.html> San Diego-based DNA sequencing equipment maker Illumina said over the weekend that its CEO, Francis deSouza, has resigned. According to the company, Charles Dadswell, Senior Vice President and General Counsel, has been named interim CEO while the Board of Directors conducts a search for a new CEO. The reason for the resignment was not announced. The company said that deSouza will remain in an advisory capacity until only July 31st. deSouza had been at Illumina since 2013. (More... <https://www.socaltech.com/fullstory/0083485.html>) *Blue Microphones Brand Being Phased Out* <https://www.socaltech.com/fullstory/0083482.html> Blue Microphones, the consumer USB microphone brand which started in Westlake Village and was acquired in 2018, will be no more, according to Logitech. The consumer microphone maker, which was founded in 1995, was acquired in 2018 by Logitech for $117M. Blue Microphones built its business on USB microphones and the popularity of both audio and video podcasting. ( More... <https://www.socaltech.com/fullstory/0083482.html>) *NanoImaging Services Scores Private Equity Funding* <https://www.socaltech.com/fullstory/0083478.html> San Diego-based NanoImaging Services, a company which provides "cryo-electron" microscopy services to the pharmaceutical and biotechnology industries, says it has received a growth equity investment. Size of the investment was not announced. The private equity injection came from Ampersand Capital. The company said the new funding will go towards worldwide growth initiatives, including expanding microscope capacity and adding complementary services. (More... <https://www.socaltech.com/fullstory/0083478.html>) *From Idea to IPO - KPMG’s Emerging Growth Practice < [email protected]>* KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at [email protected]. *Accelerating Growth For Early Stage Innovation. <http://www.preccelerator.com>* The Preccelerator® Program is an accelerator for early-stage startups offered to select companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides initial capital, sophisticated legal services, interim office space, mentorship, a targeted curriculum, investment strategy counseling and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. www.preccelerator.com *Pacific Western Bank, Venture Banking Group <https://www.pacwest.com>* Pacific Western Bank is a commercial bank with over $41 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado. Our venture banking team specializes in financial products and services for startups, venture-backed businesses, and their venture capital and private equity investors. We are dedicated to delivering high-touch, tailored solutions, helping innovators take their business to the next level. No matter the size or stage of your business, you can expect guidance, resources and flexibility, making them the perfect team to support your evolving needs. For more information, visit www.pacwest.com, or follow them on LinkedIn and Twitter. *Pixelgate.net - Internet Access, Web Hosting, Network Services <http://www.pixelgate.net>* We put the "Service" back into Internet Service Provider. http://www.pixelgate.net *IP Protection for Technology and Business - SoCal IP Law Group LLP <http://www.socalip.com>* Patents. Trademarks. Copyrights. Trade Secrets. IP Filings. IP Strategy. IP Litigation. IP Transactions. US and Worldwide. Offices in Westlake Village and Santa Barbara. [email protected] www.socalip.com ------------------------------ *Recent Funding <#funding>* 4/13/23 Altruist <https://www.socaltech.com/intelligence/?action=showdeal&id=110844> Culver City $112.00 M 2/10/23 Fabric8Labs <https://www.socaltech.com/intelligence/?action=showdeal&id=110604> San Diego $50.00 M 1/31/23 Saviynt <https://www.socaltech.com/intelligence/?action=showdeal&id=110563> El Segundo $205.00 M 1/23/23 ADARx Pharmaceuticals, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=110494> San Diego $46.10 M 1/19/23 PLAI Labs <https://www.socaltech.com/intelligence/?action=showdeal&id=103242> Culver City $32.00 M 1/19/23 Oro Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103241> Los Angeles $13.00 M 1/19/23 ContractSafe <https://www.socaltech.com/intelligence/?action=showdeal&id=103240> Malibu $27.50 M 1/17/23 Sensible Weather <https://www.socaltech.com/intelligence/?action=showdeal&id=103239> Santa Monica $0.00 M 1/10/23 CRISPR QC <https://www.socaltech.com/intelligence/?action=showdeal&id=103238> San Diego $1.60 M 1/10/23 Cari Health <https://www.socaltech.com/intelligence/?action=showdeal&id=103237> San Diego $3.20 M 1/09/23 PBS Biotech <https://www.socaltech.com/intelligence/?action=showdeal&id=103236> Camarillo $22.00 M 12/07/22 Drata Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103235> San Marcos $200.00 M 10/21/22 Kudos Technologies <https://www.socaltech.com/intelligence/?action=showdeal&id=103234> Woodland Hills $7.00 M 9/22/22 TheoryCraft Games <https://www.socaltech.com/intelligence/?action=showdeal&id=103233> Los Angeles $50.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html ------------------------------ ------------------------------ ------------------------------ *Sponsored By * Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG Email [email protected] for more information about sponsoring this newsletter. ------------------------------ You are receiving this email because you subscribed to the socalTECH.com TechNews from our web site, or otherwise requested a subscription. If you do not want to receive this newsletter go to: http://listserv.socaltech.com/mailman/listinfo/socaltech or email us at [email protected] ------------------------------ Legal Notices ---- While SOCALTECH LLC has used its best efforts in collecting and preparing the information published herein, SOCALTECH LLC does not assume, and hereby disclaims, any liability for any loss or damage caused by errors or omissions, whether such errors or omissions resulted from negligence, accident or other causes. All contents Copyright (c) 2017 SOCALTECH LLC. 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