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BAY AREA TECH WIRE -- Nov. 18, 2015
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o Redwood City-Based Athos Raises $35.5M for Smart Training Apparel
o Santa Clara-Based Citrix to Spin Off GoTo Family of Products
o Microsemi Sweetens Bid for Sunnyvale-Based PMC-Sierra
o S.F.-Based Siluria Technologies Raises $25 Million in New Funding
o Menlo Park-Based Andreessen Horowitz Launches $200 Million Bio Fund
o Briefly Noted: Cloudyn, Turnitin, Qualisystems
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o Redwood City-Based Athos Raises $35.5M for Smart Training Apparel
Redwood City, Calif. -- Athos, a Redwood City-based developer of smart training apparel, said on Wednesday it has raised $35.5 million in its third round of funding, led by Social Capital. MAS Holdings, Lightspeed Venture Partners and Felix Capital also participated, as did previous backers DMC, early FitBit investor True Ventures and angel investor Joe Lacob, managing partner and chairman of the Golden State Warriors. The company said it will use the proceeds for continued product development, as well as to expand its team, which includes recent additions Don Faul (COO) and Rose Yao (vice president of product). Athos' garments measure muscle performance using EMG (electromyography), as well as heart rate and acceleration. The data is streamed to users' mobile devices, along with actionable insights to help them reach individual goals. The company launched its initial product six months ago in a bid to solve a real-life problem experienced by co-founders Dhananja Jayalath and Christopher Wiebe. "We both cared a ton about our health and fitness and spent hours each week in the gym. But we didn’t know how to train," said Jayalath. :So we set out to build something that could help us reach our personal fitness goals, something that would help us do the right exercises, with the right form, at the right intensity."
http://www.liveathos.com
http://www.businesswire.com/news/home/20151118005959/en/Athos-Closes-35.5-Million-Series-Investment-Endorsed
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o Santa Clara-Based Citrix to Spin Off GoTo Family of Products
Santa Clara, Calif. -- Citrix Systems, the Santa Clara-based developer of mobile workspaces, said it plans to spin off its GoTo family of products into a separate, publicly traded company. The separation is expected to be completed by the second half of 2016. Chris Hylen, who currently serves as senior vice president and general manager of the Citrix Mobility Apps Business Unit, will serve as CEO. The new company, yet to be named, will consist of GoToAssist, GoToMeeting, GoToMyPC, GoToTraining, GoToWebinar, Grasshopper and OpenVoice. For the year ended Sept. 30, those products and services generated approximately $600 million in revenue. "Upon review, it is clear to us that the GoTo family of products is best suited to grow and operate as a standalone business," said Bob Calderoni, the interim CEO and president and executive chairman of Citrix. "This separation will create a leading, pure-play SaaS company that will have a targeted focus with the flexibility to invest in its portfolio of products."
http://www.citrix.com
https://www.citrix.com/news/announcements/nov-2015/spin-off.html
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o Microsemi Sweetens Bid for Sunnyvale-Based PMC-Sierra
Sunnyvale, Calif. -- After again being rebuffed by the board of Sunnyvale-based PMC-Sierra, Aliso Viejo-based Microsemi on Wednesday sweetened its offer for the big data semiconductor and software company. Under the revised bid, Microsemi would pay $9.22 a share in cash and 0.08 of a share of stock for each share of PMC, valuing the company at approximately $2.3 billion. The move comes after PMC's board on Monday reiterated its commitment to an earlier acquisition agreement with Skyworks Solutions. That all-cash deal is worth $2.24 billion. "The board of PMC chose not to recommend to their shareholders our previous proposal, which was $0.17 per share higher than the existing offer from Skyworks," said James Peterson, Microsemi's chairman and CEO. "Our revised offer delivers even more value to shareholders and we have addressed PMC's preference in increasing the cash component of our proposal."
http://pmcs.com/
http://www.microsemi.com/
http://investor.microsemi.com/2015-11-18-Microsemi-Corporation-Announces-Revised-Proposal-to-Acquire-PMC-Sierra-for-12-05-per-Share-in-Cash-and-Stock
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o S.F.-Based Siluria Technologies Raises $25 Million in New Funding
San Francisco -- Siluria Technologies, a San Francisco-based developer of process technologies that convert methane to ethylene, and ethylene to liquid fuels such as gasoline, diesel and jet fuel, said on Wednesday it has raised $25 million in a new round of funding. National Petrochemical Industrial Co. (NatPet) led the round, which increased the company's total backing to $150 million since its inception. NatPet said it also will work with Siluria to commercialize its technology in Saudi Arabia and other international markets. Other investments in the company may be in the pipeline, as well. "We are managing strong interest in Siluria from additional strategic and financial investors," said CFO Jeff Wood. "The company is currently focused on commercial projects in the refining and midstream industries, and a pipeline of licensing projects in petrochemicals."
http://www.siluria.com
http://www.prnewswire.com/news-releases/25-million-equity-financing-expands-siluria-technologies-strategic-investor-base-300180625.html
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o Menlo Park-Based Andreessen Horowitz Launches $200 Million Bio Fund
Menlo Park, Calif. -- Andreessen Horowitz, the Menlo Park-based venture capital firm, said on Wednesday it has launched a new $200 million Bio fund, which will focus on startups at the intersection of biology and software. The firm also has hired Vijay Pande, a former professor of chemistry, computer science and structural biology at Stanford University, as its newest general partner, charged with running the fund. The new fund will focus on niche areas such as digital therapeutics, cloud biology and computational medicine. "The firm has been excited about this space for a while, and we've made investments before even raising a bio fund," said Pande. "But we want to do something really big, and expect this to grow bigger in time, so establishing a separate fund is also about our thinking years down the road."
http://a16z.com/2015/11/18/bio-fund/
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o Briefly Noted:
(San Francisco) San Francisco-based Cloudyn, developer of a web-based tool for the multi-cloud monitoring and optimization of private and public clouds, on Wednesday named Meira Primes as its inaugural CMO. Primes most recently served as the CMO of Upround Ventures, and earlier was the senior vide president of marketing at FirstBest Systems.
https://www.cloudyn.com/
http://www.prnewswire.com/news-releases/cloudyn-expands-executive-team-with-appointment-of-chief-marketing-officer-300180973.html
(Oakland) Oakland-based Turnitin, developer of a cloud-based service for originality checking, online grading and peer reviewing of student papers, on Wednesday named Jill Hedrick as its senior vice president of North American sales. Hedrick most recently served as the vice president of partner accounts at the Northwest Evaluation Association (NWEA).
http://www.turnitin.com/
http://www.businesswire.com/news/home/20151118005360/en/Turnitin-Appoints-Jill-Hedrick-Senior-Vice-President
(Santa Clara, Calif.) Santa Clara-based Qualisystems, a developer of private, hybrid cloud orchestration software for DevOps and cloud sandboxing, on Wednesday named Rob Johnson as its chief revenue officer and senior vice president of worldwide sales. Johnson most recently was the vice president of sales for strategic accounts at Ixia.
http://www.qualisystems.com/news/press-releases/
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