Thursday, June 18, 2015

Bay Area Tech Wire -- June 18

BAY AREA TECH WIRE -- June 18, 2015
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Shares of Fitbit Spike in Market Debut Following IPO
Milpitas-Based Sikka Software Raises $10.5 Million in Third Round
San Jose-Based Cypress Semiconductor Increases Offer for ISSI
Redwood City-Based Arrayent Names Cyril Brignone as New CEO
San Jose-Based 8x8 Completes Acquisition of QSC Assets.
Briefly Noted:
Tessera Technologies, CEB - Sunstone Analytics

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--10 On-The-Job Mistakes That Can Sabotage Your Career
--Director of Information Technology - City of Berkeley, CA

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o Shares of Fitbit Spike in Market Debut Following IPO

San Francisco -- Shares of San Francisco-based Fitbit spiked nearly 50% in Thursday's late trading, hours after the maker of connected fitness tracking devices price its initial public offering (IPO) above expectations. The company sold 22.4 million shares for $20 each -- up from earlier estimates of $17-$19 -- with stockholders also raising an additional $284 million through the sale of another 14.2 million shares. The stock began trading early Thursday on the New York Stock Exchange under the symbol "FIT." Fitbit's platform combines connected health and fitness devices with software and services, including an online dashboard and mobile apps, data analytics, motivational and social tools and virtual coaching. The company has sold more than 20.8 million devices since its inception in 2007, including 10.9 million last year alone. (IPO filing)

o Milpitas-Based Sikka Software Raises $10.5 Million in Third Round

Milpitas, Calif. -- Sikka Software, the Milpitas-based developer of a retail healthcare cloud platform, said on Thursday it has raised $10.5 million in its third round of funding, led by OrbiMed. Previous backers Sierra Ventures and ATA Ventures also participated in the round, which the company will use to bolster its sales and marketing activities and continue growing across key practice areas. "With over 14,700 installations, we continue to grow in dental, audiology, veterinary, optometry and adjacent markets in both the United States and worldwide," said founder and CEO Vijay Sikka. Steve Yecies, a venture partner at OrbiMed, will join the company's board of directors. 

o San Jose-Based Cypress Semiconductor Increases Offer for ISSI

San Jose, Calif. -- Cypress Semiconductor, a San Jose-based developer of semiconductors for a range of embedded systems, has again raised its offer to acquire Milpitas-based Integrated Silicon Solution Inc. (ISSI), topping a competing bid. Cypress said it will pay $21.25 a share, $1 more than its previous offer and $0.25 more than the latest bid from Uphill Investment. Cypress and ISSI initially agreed to a $674 million deal on June 10, sparking the bidding war. Cypress' latest offer also includes a "ticking fee," which will add $0.10 a share for each additional quarter required to obtain regulatory approval for the deal. "Given our revised offer… we have clearly addressed all outstanding issues and concerns relative to the Uphill Agreement," wrote T.J. Rodgers, the president and CEO of Cypress, in a letter to ISSI's management. "Compared to the Uphill Agreement, Cypress's offer is now superior with respect to both price and terms." 

o Redwood City-Based Arrayent Names Cyril Brignone as New CEO

Redwood City, Calif. -- Arrayent, the Redwood City-based developer of an Internet of Things platform designed to let consumer brands deliver connected products, has named Cyril Brignone as its new CEO. Brignone, most recently the company's vice president of field operations and general manager of Europe, succeeds founder Shane Dyer, who will remain an advisor. Brignone previously co-founded, where he served as COO. Arrayent's clients include Whirlpool, Pentair, Maytag Commercial Laundry, Chamberlain/LiftMaster, Monster Products and Mattel. 

o San Jose-Based 8x8 Completes Acquisition of QSC Assets.

San Jose, Calif. -- 8x8, a San Jose-based developer of cloud-based unified communications and contact center tools, said on Thursday it has completed its $3 million deal to acquire certain assets Quality Software Corp. (QSC), a developer of quality management tools and analytics. The deal, which includes QSC's proprietary software and all associated intellectual property, was first announced earlier this month. Ryan Morrissey, the CEO of QSC, will become the company's senior director of product strategy, while the company's engineering team in Romania will compliment existing R&D resources in the U.S. and U.K. 

o Briefly Noted:

(San Jose, Calif.) San Jose-based Tessera Technologies, a licensor of mobile, storage and integrated circuit technologies, on Thursday named Steve Teig as its CTO. He succeeds Craig Mitchell, who has been serving in dual roles as CTO of Tessera and president of the company's Invensas subsidiary, where he now will dedicate more of his time. Teig previously founded Tabula, where he served as president and CTO from 2003-2015, and previously was the CTO and chief scientist at Cadence Design Systems. 

(San Francisco) The Virginia-based Corporate Executive Board (CEB), a provider of research and analysis services focused on corporate strategy and operations, said it has acquired web-based resume screening and analytics software from San Francisco-based Sunstone Analytics. Financial terms of the deal were not disclosed. Developers of the software will join CEB's Talent Management product team. The software uses advanced analytics and machine learning to let clients instantly screen candidates, scoring their attributes like work experience, education, tenure and performance. 

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> 10 On-The-Job Mistakes That Can Sabotage Your Career

Over time, bad habits can tarnish an otherwise great reputation and overshadow your accomplishments in the eyes of your colleagues and supervisors. Remember, in the big leagues, your reputation is every bit as important as your skills and experience. Here are 10 mistakes to avoid to make sure you're protecting your reputation.

> Director of Information Technology - City of Berkeley, CA

The Director of Information Technology leads a large municipal department in providing a diverse array of digital services to its employees, citizens, and beyond. Reporting to the City Manager, the Director of IT will be seen as the technology leader working across the organization to ensure a forward-thinking and strategic approach to technology in support of all municipal business units. Bachelor’s degree is required. This position requires six years responsible experience in information technology, four years of which must have been at a supervisory or management level. Salary range $137,772 to $189,396 DOQ, plus benefit package including CalPERS. Detailed brochure by clicking here. Confidential inquiries to Greg Nelson at (916) 630-4900. Submit cover letter and resume to prior to Friday, July 3, 2015.

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