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BAY AREA TECH WIRE -- July 6, 2015
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o San Jose-Based PayPal to Acquire San Francisco-Based Xoom
o Oakland-Based Pandora Acquires Next Big Sound
o Renée James to Step Down as President of Santa Clara-Based Intel
o Milpitas-Based NextInput Raises $1.5 Million in New Funding Round
o Fremont-Based Procera Networks Names Lyndon Cantor as New CEO
o Briefly Noted: ThreatStream, YuMe, Presto Engineering
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o San Jose-Based PayPal to Acquire San Francisco-Based Xoom
San Jose, Calif. -- PayPal, the San Jose-based payment technology giant currently in the process of separating from eBay, said it will acquire San Francisco-based Xoom, a provider of international digital money transfer services, in a deal valued at $890 million. eBay will pay $25 a share in cash. Upon closing of the deal, expected by year's end, Xoom will operate as a separate service within PayPal. Xoom's services allow users in 37 countries to send money, pay bills and send mobile reloads through their mobile phone, tablet or computer. During the 12 months ended March 31, the company's more than 1.3 million active customers sent approximately $7.0 billion in key markets such as Mexico, India, the Philippines, China and Brazil. "Expanding into international money transfer and remittances aligns with our strategic vision to democratize the movement and management of money," said Dan Schulman, the president of PayPal. "Acquiring Xoom allows PayPal to offer a broader range of services to our global customer base, increase customer engagement and enter an important and growing adjacent marketplace."
http://www.xoom.com
http://www.ebayinc.com/in_the_news/story/paypal-acquire-xoom
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o Oakland-Based Pandora Acquires Next Big Sound
Oakland -- Pandora, the Oakland-based Internet radio service, said it has acquired New York-based online music analytics provider Next Big Sound. Financial terms of the deal were not disclosed. Pandora said the acquisition gives it an analytics tool used by tens of thousands of music makers, labels and marketers looking for data and insights about artists and their fans. The technology will bolster the company's Artist Marketing Platform (AMP), which lets every musician on Pandora view their entire audience and listening history on the service. "Whether it's introducing a new song, promoting a local show, measuring the impact of a campaign, identifying high potential artists or simply building a fan club, Pandora AMP will be able to solve all the intractable problems that have plagued working artists for decades," wrote founder Tim Westergren in a blog post.
http://press.pandora.com/phoenix.zhtml?c=251764&p=irol-newsArticle&ID=2064242
http://blog.pandora.com/2015/05/19/another-big-step-towards-artist-empowerment-pandora-next-big-sound/
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o Renée James to Step Down as President of Santa Clara-Based Intel
Santa Clara, Calif. -- Renée James will step down as the president of Santa Clara-based chipmaker Intel in January, the company said in a note to employees. James, who lost year was ranked No. 21 on Fortune's Most Powerful Women in Business list, is departing to become the CEO of another company. She has been at Intel in various executive roles for more than 25 years. In addition, the company announced that Arvind Sodhani will retire in January as the president of Intel Capital, replaced by Wendell Brooks, the company's president of mergers and acquisitions. And on July 1, the Intel Security organization -- formerly the independent McAfee division -- was formally integrated into Intel's operations under the leadership of general manager Chris Young.
http://www.intel.com/newsroom/archive/CEO_memo.pdf (PDF)
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o Milpitas-Based NextInput Raises $1.5 Million in New Funding Round
Milpitas, Calif. -- NextInput, a Milpitas-based developer of force-sensing technology for touch-enabled devices, said it has raised $1.5 million in a new round of funding. Investors included Intel Capital, Takata Holdings, Steve Nasiri and the Band of Angels. The company, which now has raised $3 million since its inception, plans to use the funds to commercialize its ForceTouch MEMS-based force sensing technology, which will go into mass production during the third quarter. It also plans to pursue strategic opportunities with Intel in consumer electronics.
http://www.nextinput.com/
http://www.businesswire.com/news/home/20150701006380/en/NextInput-Completes-1.5M-Funding-Intel-Capital#.VZrnIRtViko
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o Fremont-Based Procera Networks Names Lyndon Cantor as New CEO
Fremont, Calif. -- Procera Networks, a Fremont-based developer of Internet intelligence tools designed to help network operators improve broadband performance, has named Lyndon Cantor as its new CEO. Cantor, most recently the president of Tektronix Communications, succeeds Jim Brear, who has departed the company. The move follows Procera's recent $240 million acquisition by San Francisco-based private equity firm Francisco Partners, which took the company private. "Lyn joins Procera with a rich understanding of the company's markets, technologies and product offering," said Andrew Kowal, a partner at Francisco. "He is a strong addition to the leadership team as Procera enters this next chapter in its strategic development."
http://www.proceranetworks.com
http://www.businesswire.com/news/home/20150702005204/en/Procera-Networks-Names-Lyndon-Cantor-CEO#.VZrbBBtViko
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o Briefly Noted:
(Redwood City, Calif.) Redwood City-based ThreatStream, developer of a threat intelligence platform, has named Nancy Bush as its CFO. Bush most recently served as the vice president of finance at Adaptive Insights, and previously was the acting CFO and vice president of finance at Fortinet and vice president of finance at ArcSight.
https://www.threatstream.com/news-events/press/threatstream-appoints-nancy-bush-as-chief-financial-officer
(Redwood City, Calif.) Redwood City-based YuMe, a developer of digital video brand advertising tools, on Monday named Craig Forman to its board of directors. Forman is a private investor and entrepreneur; a former media, technology and telecom executive and former Wall Street Journal bureau chief and foreign correspondent. He has held senior executive roles with EarthLink, Yahoo, Time Warner, Infoseek and Dow Jones, most recently as president of EarthLink's consumer access and audience business.
http://www.yume.com
http://www.businesswire.com/news/home/20150706005276/en/YuMe-Names-Craig-Forman-Board-Directors#.VZrZ7xtViko
(San Jose, Calif.) San Jose-based Presto Engineering, a provider of semiconductor engineering and backend turnkey industrialization and production services, said it has opened a new facility in France. The facility, to be known as the Meyreuil Provence Hub (MPH), will provide chip industrialization and supply chain management services for the communications, automotive and Internet of Things (IoT) markets.
http://presto-eng.com/News/Press-Release/Presto-Engineering-Expands-Engineering-Production-and-Supply-Chain-Services-with-Opening-of-New-Facility-in-Europe.html
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