| ============================================ BAY AREA TECH WIRE -- Jan. 15, 2014 ============================================ To Subscribe: www.bayareatechwire.com o S.F.-Based Riverbed Rejects Unsolicited $3.08 Billion Takeover Bid o Apple to Pay at Least $32.5 Million to Settle FTC Billing Complaint o Los Gatos-Based SuVolta Raises $10.6 Million in New Funding o San Jose-Based OSS Sells 50 Million Shares to Private Investors o Report: IT Job Growth Slows Down Significantly in December o Briefly Noted: Practice Fusion, Skyera, Kabam _____________________________________________ > Job/Event/Marketplace Classified Listings (Full Listings Below Stories) --Don't Quit Your Day Job to Become an Entrepreneur: You Can Do Both! --14 Ideas for Marketing Your Business Online --Siteworx Complimentary Report: Best Practices: Digital Asset Management --Enterprise Connect – March 17-20, 2014 --Corporate Food-Service - Catering to Cafe Management --Investment Adviser Executive --Digital Entertainment World: Register Now and Save $200 --Advertise on Bay Area Tech Wire and Reach More than 6,000 Subscribers Ad Descriptions Below Briefly Noted Section Post Job/Event/Marketplace ad: http://www.bayareatechwire.com _____________________________________________ o S.F.-Based Riverbed Rejects Unsolicited $3.08 Billion Takeover Bid San Francisco -- Riverbed Technology, the San Francisco-based developer of hardware, software and virtualized tools designed to improve IT performance, on Wednesday rejected a $3.08 billion takeover bid by hedge fund Elliott Management. Elliott made its unsolicited bid for the company, in which it already owns a 10.5% stake, last week, offering $19 a share. Riverbed, however, said its board of directors unanimously determined not to pursue the deal after consulting with independent legal and financial advisors. "While the board will carefully review any credible offer made to acquire the company, any such offer must deliver value to our shareholders in excess of what we believe will be created as we execute on our growth plans and capitalize on the significant investments we have already made in that regard," said Jerry Kennelly, the chairman and CEO of Riverbed. The news came as the company reported preliminary fourth-quarter results that were better than expected. It now expects to generate revenue of $284-$285 million, up from previous expectation of $270-$276 million, and profits of $0.30-$0.31 a share, up from $0.26-$0.27. http://www.riverbed.com http://www.riverbed.com/about/news-articles/press-releases/Riverbed-Board-of-Directors-Rejects-Elliotts-Unsolicited-Proposal.html _____________________________________________ o Apple to Pay at Least $32.5 Million to Settle FTC Billing Complaint Cupertino, Calif. -- Apple will pay at least $32.5 million to settle charges from the Federal Trade Commission (FTC) that it billed consumers millions of dollars for in-app purchases made by children without the consent of their parents. According to the complaint, Cupertino-based Apple violated the FTC Act by failing to tell parents that by entering a password they were approving a single in-app purchase, as well as 15 minutes of additional unlimited purchases their children could make without further consent. "This settlement is a victory for consumers harmed by Apple's unfair billing, and a signal to the business community -- whether you’re doing business in the mobile arena or the mall down the street, fundamental consumer protections apply," said FTC Chairwoman Edith Ramirez. "You cannot charge consumers for purchases they did not authorize." The company will be required to provide full refunds to consumers who were billed for in-app charges incurred by children, either accidentally or without proper authorization, on devices such as the iPhone, iPad and iPod touch. All consumers charged for in-app purchases will receive instructions on how to obtain their refunds, if eligible. http://www.ftc.gov/news-events/press-releases/2014/01/apple-inc-will-provide-full-consumer-refunds-least-325-million _____________________________________________ o Los Gatos-Based SuVolta Raises $10.6 Million in New Funding Los Gatos, Calif. -- SuVolta, a Los Gatos-based developer of semiconductor technologies, said it has raised $10.6 million in a new round of funding, which the company will use to accelerate the integration of its low-power chip technology into the design and fabrication of integrated circuits. Participants included new investor Fujitsu Semiconductor and previous backers Kleiner Perkins Caufield & Byers (KPCB), August Capital, New Enterprise Associates (NEA), Northgate Capital and DAG Ventures. SuVolta develops and licenses transistor and design technologies that enable optimum power and performance of integrated circuits, particularly those used in the emerging "Internet of Things" market. http://www.suvolta.com http://www.suvolta.com/newsroom/press-releases/pr-jan-2014 _____________________________________________ o San Jose-Based OSS Sells 50 Million Shares to Private Investors San Jose, Calif. -- Open Source Storage (OSS), a San Jose-based developer of enterprise data storage tools, said it has raised an unspecified amount of funding by selling 50 million shares to private investors over the past 90 days. The funding will support product development and hiring as OSS -- which was founded in 2001 and relaunched in December -- re-enters the data storage market. The company said it can reduce the typical costs of data ownership by up to 40% by replacing licensed software and proprietary hardware with open source software and open standard components. http://www.opensourcestorage.com http://ca.finance.yahoo.com/news/open-source-storage-sells-50-160000468.html _____________________________________________ o Report: IT Job Growth Slows Down Significantly in December Alexandria, Va. -- The number of information technology jobs is continuing to grow in the U.S., but at a much slower rate then they had been, according to new figures by the TechServe Alliance, a national trade association for the IT and engineering staffing industry. All told, IT employment grew by just 0.03% last month to 4.5 million. That's a significant drop-off from previous levels, considering IT employment has grown 4.56% since Dec. 2012. "While IT employment grew almost three times the rate of the overall job market last year, the rate of growth decelerated throughout 2013," said Mark Roberts, CEO of the TechServe Alliance. The full report is available at the link below. http://www.techservealliance.org/pressroom/documents/IndexreleaseJanuary2014.pdf (PDF) _____________________________________________ o Briefly Noted: (San Francisco) San Francisco-based Practice Fusion, developer of a platform that lets patients find and book appointments with doctors and access their medical records, on Wednesday named Ryan Donovan as its vice president of corporate communications. Donovan most recently served as the senior vice president of communications at Visa. http://www.practicefusion.com http://www.prnewswire.com/news-releases/practice-fusion-adds-ryan-donovan-as-vice-president-corporate-communications-to-executive-team-240263181.html (San Jose, Calif.) San Jose-based Skyera, a developer of solid-state storage systems, on Wednesday named Michael Klayko, the former CEO of Brocade Communications, to its board of directors. Klayko, currently the CEO of MKA Capital, previously had served as a member of the company's advisory board. http://www.skyera.com/news-events/press-releases/skyera-names-former-brocade-ceo-to-board-of-directors/ (San Francisco) San Francisco-based Kabam, a developer of free-to-play games, on Wednesday announced three new executive hires. They include Paxton Cooper Jr. (senior vice president of platform), Doug Inamine (senior vice president of people) and Jordan Edelstein (vice president of marketing for Kabam Studios). http://www.kabam.com http://www.businesswire.com/news/home/20140115005319/en/Kabam-Announces-Executive-Hires-Company-Continues-Global#.UtasVNKwI3g =================================================== Job/Event/Marketplace Listings: =================================================== To Post in Job/Event/Marketplace: http://www.bayareatechwire.com 6000 Readers: 5 day ad: $120--10 day ad: $175--20 day ad: $300 > Don't Quit Your Day Job to Become an Entrepreneur: You Can (and Should) Do Both! Dissatisfied with your job? Create your own! Becoming a part-time entrepreneur is easier than you think. Many dream of being their own boss but aren’t willing to risk leaving the stability of their 9 to 5s. 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