Tuesday, January 27, 2015

Bay Area Tech Wire -- Jan. 27

BAY AREA TECH WIRE -- Jan. 27, 2015
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Lattice Semiconductor to Acquire Sunnyvale-Based Silicon Image
APUS Group Raises $100 Million in Second Round of Funding
CloudBees Secures $23.5 Million in New Funding Round
San Francisco-Based 3Scan Lands $6.7 Million in First Round
S.F.-Based Prosper Marketplace Acquires American HealthCare Lending
San Francisco-Based CloudPassage Names Robert Thomas as New CEO
o Instacart Tops Forbes list of America's Most Promising Companies
Briefly Noted: Spansion - Macronix International, Google Fiber


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o Lattice Semiconductor to Acquire Sunnyvale-Based Silicon Image

Sunnyvale, Calif. -- Lattice Semiconductor, an Oregon-based developer of programmable connectivity products, said on Tuesday it will acquire Sunnyvale-based Silicon Image, a maker of wired and wireless connectivity tools, through a cash tender offer worth $600 million. Under the deal, expected to close by the end of March, Lattice will pay $7.30 a share. The companies expect at least $32 million in cost synergies during the first year. "We are excited to move forward with Silicon Image and confident we will be able to drive higher revenue and earnings growth, through the benefits of better economies of scale and material cost synergies," said Darin Billerbeck, the president and CEO of Lattice.

o APUS Group Raises $100 Million in Second Round of Funding

San Francisco -- APUS Group, a Chinese developer of apps designed to optimize the Android operating system, with U.S. headquarters in San Francisco, said on Tuesday it has raised $100 million in its second round of funding, co-led by Chengwei Capital, SIG and Qiming Venture Partners. Previous backers Redpoint Ventures and Northern Light Venture Capital also participated in the round, which increases the company's total funding to $116 million. Founded last June, APUS Group launched its first product, the APUS Launcher, in July. Within six months of its release, the app had 90 million users. The company has since launched APUS Booster, APUS Mobile Search, APUS App Radar, APUS Notification and APUS Tools, all aimed at improving the user experience for Android users.

o CloudBees Secures $23.5 Million in New Funding Round

Los Altos, Calif. -- CloudBees, the Delaware-based developer of an open source continuous delivery platform, with West Coast operations in Los Altos, said on Tuesday it has raised $23.5 million in a new round of funding, led by Lightspeed Venture Partners. Previous backers Matrix Partners, Verizon Ventures and Blue Cloud Ventures also participated in the round, which the company will use for expansion. The company, which now has raised just under $50 million since its inception in 2010, has developed a continuous delivery platform based on Jenkins CI, an open source continuous integration platform. "We will use the additional capital to serve the growing demand for Jenkins-based solutions worldwide, to continue to capture market share and to further cement our position as the continuous delivery leader," said founder and CEO Sacha Labourey.

o San Francisco-Based 3Scan Lands $6.7 Million in First Round

San Francisco -- 3Scan, a San Francisco-based developer of microscope technology that simultaneously images as it slices pathology samples, said on Tuesday it has landed $6.7 million in its first round of funding, led by Lux Capital. The company said it will use the proceeds to support the continued development and deployment of its core Knife Edge Scanning Microscope (KESM) technology. "While medical science has made incredible advances in recent years, anatomic pathology has remained relatively stuck in the 19th century," said founder and CEO Todd Huffman. "Our technology transforms anatomic pathology into an automated, digitized, and quantitative medical science." Lux Capital's Josh Wolfe and Adam Goulburn have joined the company's board of directors.

o S.F.-Based Prosper Marketplace Acquires American HealthCare Lending

San Francisco -- Prosper Marketplace, the San Francisco-based operator of a peer-to-peer lending marketplace, said on Tuesday it has paid $21 million in cash to acquire Utah-based American HealthCare Lending, developer of a patient financing platform. "This acquisition is an important part of our strategy to grow awareness and expand our product offerings and capabilities into new vertical markets," said Aaron Vermut, the CEO of Prosper. American HealthCare Lending has developed a cloud-based patient financing platform that is integrated with a variety of lenders. The company works with healthcare providers in the cosmetic dentistry, bariatric surgery, fertility, plastic surgery and other markets.

o San Francisco-Based CloudPassage Names Robert Thomas as New CEO

San Francisco -- CloudPassage, the San Francisco-based developer of a software-defined security platform, on Tuesday named Robert Thomas as its CEO. He succeeds founding CEO Carson Sweet, who will now serve as chairman and chief strategy officer, focusing on the company's long-term strategy. Thomas most recently served as the CEO of Infoblox, which he helped take public in 2012 at a valuation of $1.3 billion. He previously served as the president and CEO of NetScreen Technologies. CloudPassage's security and compliance platform, Halo, is designed to protect cloud and software-defined datacenter environments. The company is backed by Benchmark Capital, Meritech Capital Partners, Tenaya Capital, Shasta Ventures and Musea Ventures.

o Instacart Tops Forbes list of America's Most Promising Companies

Instacart, the San Francisco-based developer of a home grocery delivery service that recently raised $220 million in new funding, is the No. 1 company on Forbes' newly released list of America's Most Promising Companies for 2015. The top 100 list, which includes privately held companies with under $300 million in annual revenue, is based on factors such as revenue and employee growth, operating margins, capital raised and product ideas, among others. Suja Juice, AdBoom Group, Precision Frac and Carvana round out the top five. The complete list is available at the link below.

o Briefly Noted:

(Sunnyvale, Calif.) Sunnyvale-based Spansion, a developer of Flash memory, microcontroller, mixed-signal and analog products, said on Tuesday it has settled its patent dispute with Taiwan-based Macronix International. As part of the settlement, both companies agreed to dismiss all patent cases. Financial terms were not disclosed.

(Mountain View, Calif.) Mountain View-based Google is preparing to offer its high-speed fiber Internet service in four new cities, The Wall Street Journal reported. New markets for Google Fiber are expected to include Atlanta, Charlotte, N.C., Raleigh-Durham, N.C. and Nashville, Tenn. The company initially launched the service, which offers Internet speeds up to 1 gigabit per second, in Kansas City in 2012.

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> Do Your Employees Think Like Owners? 10 Tips for Building an Entrepreneurial Culture

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