Monday, October 28, 2013

Bay Area Tech Wire -- Oct. 28

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BAY AREA TECH WIRE -- Oct. 28, 2013
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S.F.-Based Twitter Prepares for IPO with Nine-Day Road Show
o San Francisco-Based Cyphort Raises $15.5 Million in Second Round
o Fremont-Based Soraa Names Jeffery Parker as CEO
o Arrayit Moves Into Larger Headquarters in Sunnyvale
o Silver Lake Names Mark Gillett as Head Of Value Creation
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Briefly Noted: Netskope, 8x8, Tessera Technologies - Sony

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o S.F.-Based Twitter Prepares for IPO with Nine-Day Road Show

San Francisco -- Preparing for its highly anticipated initial public offering (IPO), social media giant Twitter on Monday launched a nine-day, eight-city road show aimed at pumping up its stock with several large institutional investors, The New York Times reported. The San Francisco-based company then reportedly plans to price the IPO on Nov. 6, then begin trading Nov. 7 on the New York Stock Exchange, under the symbol "TWTR." The company last week said it expects to price as many as 80.5 million shares at $17-$20 each, which at the high end of the price range could bring in more than $1.6 billion. Stops on the road show will include New York, Boston, Chicago and Los Angeles, among others.
http://dealbook.nytimes.com/2013/10/27/twitter-prepares-to-feed-new-hunger-for-i-p-o-s/?_r=0 
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o San Francisco-Based Cyphort Raises $15.5 Million in Second Round

San Francisco -- Cyphort, the San Francisco-based developer of a security platform designed to protect users from advanced malware attacks, said on Monday it has raised $15.5 million in its second round of funding, led by Trinity Ventures. Previous backers Foundation Capital and Matrix Capital also participated in the round, which the company will use to scale its business. Fred Wang, a general partner of Trinity Ventures, will join the company's board of directors. Additionally, Cyphort has named Shishir Singh, a former vice president of network security engineering at McAfee, as its vice president of engineering.
http://www.cyphort.com 
http://www.cyphort.com/pressrelease 
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o Fremont-Based Soraa Names Jeffery Parker as CEO

Fremont, Calif. -- Soraa, a Fremont-based developer of LED lighting technology, on Monday named Jeffery Parker as its new CEO. Parker most recently was a senior executive at Rambus, serving as president of the company's Lighting and Display Technology Division. Prior to that, he was the founder and CEO of Global Lighting Technologies, an LED backlighting company. Eric Kim had served as Soraa's CEO for three years, until departing in May.
http://www.soraa.com/ 
http://finance.yahoo.com/news/soraa-appoints-lighting-luminary-jeffery-140000041.html
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o Arrayit Moves Into Larger Headquarters in Sunnyvale

Sunnyvale, Calif. -- Life sciences and diagnostics company Arrayit said on Monday it has relocated its corporate headquarters to another facility within Sunnyvale. The company has signed a seven-year lease to occupy 15,000 square feet at 927 Thompson Place. The building includes offices, conference rooms, demonstration labs, cleanrooms and manufacturing and shipping facilities. Arrayit said the move will "facilitate the company's ambitious expansion plans that include greater capitalization, expansion of the company's staff and board of directors, revenue and earnings growth, and appreciating shareholder value."
http://www.arrayit.com/ 
http://www.prnewswire.com/news-releases/arrayit-corporation-announces-new-corporate-headquarters-in-sunnyvale-california-229577911.html 
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o Silver Lake Names Mark Gillett as Head Of Value Creation

Menlo Park, Calif. -- Silver Lake, the Menlo Park-based technology investment firm, said on Monday that Mark Gillett will rejoin the firm as managing director and head of value creation. Gillett, a former corporate vice president at Skype and Microsoft, will succeed Charles Giancarlo, who will remain with Silver Lake through the end of the year before transitioning into an advisory role. The appointment is a homecoming for Gillett, who earlier in his career led the firm's value creation efforts in Europe, playing a key role in the Silver Lake-led investment in Skype.
http://www.silverlake.com
http://www.prnewswire.com/news-releases/silver-lake-announces-appointment-of-mark-gillett-as-head-of-value-creation-229574721.html 
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o Briefly Noted:


(Los Altos, Calif.) Los Altos-based Netskope, a cloud app analytics and policy startup that recently emerged from stealth with $21 million in funding, has named former Symantec CEO Enrique Salem to its board of directors. The company also has named four new advisors -- Alan Boehme, the chief of enterprise architecture at Coca-Cola; former HP and Royal Dutch Shell CIO Mike Rose; Mike Kail, the former vice president of operations at Netflix; and Alan Cohen, the former vice president of enterprise at Cisco.
http://www.netskope.com/press-releases/netskope-appoints-enrique-salem-to-board-of-directors-and-names-advisors/

(San Jose, Calif.) San Jose-based 8x8, a developer cloud-based communications and computing tools, said on Monday that Jaswinder Pal (JP) Singh has been selected to succeed Mansour Salame on its board of directors. Singh is a professor of computer science at Princeton University, as well as the and chairman and co-founder of Gwynnie Bee, an Internet technology company in the retail space. Salame resigned last week to pursue other opportunities.
http://investors.8x8.com/releasedetail.cfm?releaseid=800728 

(San Jose, Calif.) San Jose-based Tessera Technologies, a developer of semiconductor packaging and camera module technologies, said on Monday that its Tessera Inc. unit has reached a settlement with Sony in its breach of contract action against the company in the U.S. District Court for the Northern District of California. The terms of the settlement were not disclosed.
http://www.tessera.com/abouttessera/pressroom/pages/newsreleases.aspx?releaseId=800692

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