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BAY AREA TECH WIRE -- April 28, 2016
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o Palo Alto-Based Eversight Raises $14.5 Million in New Funding Round
o AbbVie to Acquire South San Francisco-Based Stemcentrx for $5.8 Billion
o San Francisco-Based SpaceVR Lands $1.25 Million in Seed Funding
o San Jose-Based Cadence Design Systems Acquires Rocketick Technologies
o LeEco Officially Opens New North American Headquarters in San Jose
o Michael Brown to Step Down as President and CEO of Symantec
o Court Finds Amazon Liable for Children's Unauthorized In-App Charges
o Briefly Noted: Echelon, Move Inc., Intel, Girls Who Code
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o Palo Alto-Based Eversight Raises $14.5 Million in New Funding Round
Palo Alto, Calif. -- Eversight, a Palo Alto-based developer of software designed to improve the performance of promotions for consumer goods companies and retailers, said on Thursday it has raised $14.5 million in a new round of funding. Sutter Hill Ventures led the round, which also included participation from previous backer Emergence Capital. The company said it will use the funds to fuel expansion of its web-based platform, which lets brands and the retailers they sell through to digitally test, adapt, target and validate in-store promotions before they're introduced at retail. Eversight said its promotions generally yield 20%-50% greater returns than traditional promotions. Clients include Anheuser-Busch InBev, BIC, Coca-Cola, Ferrero and Kimberly-Clark. "About two-thirds of the $80B spent on promotional offers by consumer goods companies doesn't break even because they largely rely on trial and error and little science," said co-founder and CEO Jamie Rapperport. "With our latest round of investment from our partners we'll be able to scale rapidly to meet more of the demand we're seeing from retailers and consumer goods companies."
http://www.eversightlabs.com
http://www.businesswire.com/news/home/20160428005527/en/Eversight-Raises-14.5M-Led-Sutter-Hill-Ventures
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o AbbVie to Acquire South San Francisco-Based Stemcentrx for $5.8 Billion
South San Francisco -- AbbVie, the Chicago-based biopharmaceutical giant, said on Thursday is will pay $5.8 billion in cash and stock to acquire South San Francisco-based Stemcentrx, a developer of targeted cancer therapeutics. Under the deal, expected to close by mid-year, AbbVie will pay approximately $2 billion in cash and the remainder in stock. The value of the deal could rise by as much as $4 billion, if Stemcentrx achieves certain regulatory and clinical milestones. Stemcentrx's lead drug candidate, Rova-T, is currently in the midst of trials for small cell lung cancer. "We have worked for eight years exploring the origins of cancer and drivers of its recurrence and have discovered novel therapeutic targets to attack the most difficult-to-treat tumors," said Brian Slingerland, the founder and CEO of Stemcentrx. "AbbVie… will help us turn our scientific discoveries into a mainstay of cancer treatments."
http://stemcentrx.com/
https://news.abbvie.com/news/abbvie-to-expand-oncology-presence-through-acquisition-stemcentrx-and-its-novel-late-stage-rova-t-compound-for-small-cell-lung-cancer.htm
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o San Francisco-Based SpaceVR Lands $1.25 Million in Seed Funding
San Francisco -- SpaceVR, a San Francisco-based startup developing technology for virtual space tourism, said on Thursday it has landed $1.25 million in a new round of seed funding, led by Shanda Group. Skywood Capital also took part in the round, which the company will use to accelerate the launch of its virtual reality camera satellite, Overview 1. SpaceVR is aiming to provide an immersive first-hand experience of space travel through current virtual reality devices, allowing customers to experience 360-degree video content from low earth orbit. "Opening up space tourism for everyone will provide a new perspective in how we view our world and how we process information," said founder and CEO Ryan Holmes. With the investment, SpaceVR expects its first technology demonstration satellite to be operational in early 2017. Until then, the company will focus its efforts on content delivery and distribution channels, as well as satellite and ground communication development.
http://www.spacevr.co/#spacevr
http://www.prweb.com/releases/2016/04/prweb13368859.htm
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o San Jose-Based Cadence Design Systems Acquires Rocketick Technologies
San Jose, Calif. -- Cadence Design Systems, the San Jose-based developer of electronic design software, hardware and services, said on Thursday it has completed its acquisition of Israel's Rocketick Technologies, a developer of multicore parallel simulation technology. Financial terms of the deal, first announced earlier this month, were not disclosed. Rocketick's simulation technology is currently in use by numerous systems and semiconductor companies in the mobile, server and graphics domains. Cadence said the acquisition will allow it to offer ultra-high-performance simulation to accelerate the development of complete systems. Rocketick's employees will join Cadence's System & Verification Group.
http://www.cadence.com
http://www.cadence.com/cadence/newsroom/press_releases/Pages/pr.aspx?xml=042816_rocketick&CMP=home
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o LeEco Officially Opens New North American Headquarters in San Jose
San Jose, Calif. -- LeEco, a Chinese developer of streaming content, platforms and smart devices, on Thursday officially opened its new 80,000-square-foot North American headquarters in San Jose. The facility, which can support as many as 800 employees, also will be the future home of the company's autonomous driving research center, the LeFuture AI Institute. "Silicon Valley is critically important to our global growth strategy," said Chairman and CEO Yueting Jia. "We're looking forward to sharing our vision of one connected ecosystem with U.S. consumers." The new headquarters is located at 3553 North 1st Street in San Jose.
http://www.leeco.com/
http://www.businesswire.com/news/home/20160428005597/en/LeEco-Formally-Announces-Opening-80000-Square-Foot
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o Michael Brown to Step Down as President and CEO of Symantec
Mountain View, Calif. -- On the heels of its move to focus exclusively on cybersecurity, Mountain View-based Symantec said on Thursday that Michael Brown will step down as its president and CEO. Brown will remain with the company until a successor is named. The company also has named Ajei Gopal, an operating partner at Silver Lake since 2013, as its interim president and COO. Gopal previously served as senior vice president and general manager in the IT management unit of HP Software, and earlier was Symantec's CTO. "Under [Brown's] leadership, Symantec has successfully executed against the five priorities of its transformation, including divesting Veritas, developing a new product roadmap in enterprise security, improving our cost structure, strengthening our executive team and continuing to return significant cash to shareholders," said Chairman Daniel Schulman. "Given our solid financial foundation and clear path forward as the leader in cybersecurity, this is the right time to transition leadership for Symantec's next chapter of growth."
https://www.symantec.com
http://www.businesswire.com/news/home/20160428005768/en/Symantec-Announces-CEO-Transition-Plan-Company%E2%80%99s-Successful
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o Court Finds Amazon Liable for Children's Unauthorized In-App Charges
Washington, DC -- A federal court has found Amazon liable for billing parents for unauthorized in-app charges incurred by their children, resolving a case brought by the Federal Trade Commission (FTC). The judge ruled that Amazon's warnings about the possibility of in-app charges within otherwise "free" apps were insufficient, citing numerous complaints from consumers. The court will decide the amount of monetary damages Amazon owes in the coming months. "We look forward to making a case for full refunds to consumers as a result of Amazon's actions," said FTC Chairwoman Edith Ramirez. The FTC initially filed its case against Amazon in July 2014. It has since reached settlements with Apple and Google related to unauthorized in-app charges incurred by children, resulting in refunds to consumers totaling over $50 million.
https://www.ftc.gov/news-events/press-releases/2016/04/federal-court-finds-amazon-liable-billing-parents-childrens?utm_source=govdelivery
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o Briefly Noted:
(Santa Clara, Calif.) Santa Clara-based Echelon, a developer of control networking technology for the industrial Internet of Things, has named Rick Schuett as its senior vice president of worldwide sales. Schuett previously held executive sales roles at NXEGEN, Autani and Encelium Technologies.
http://news.echelon.com/press-release/corporate/echelon-corp-appoints-lighting-and-controls-industry-veteran-rick-schuett-le
(Santa Clara, Calif.) Santa Clara-based Move Inc., a unit of News Corp. that operates online real estate services site realtor.com, on Thursday named Vineet Singh as its first-ever chief data officer. Singh previously spent seven years at Intuit in various leadership roles overseeing the company's data science, data engineering, new business innovation and web research and analytics.
http://news.move.com/2016-04-28-Realtor-com-Operator-Move-Inc-Names-Vineet-Singh-Chief-Data-Officer
(Santa Clara, Calif.) Santa Clara-based chipmaker Intel said it has promoted Diane Bryant to executive vice president. Bryant has been leading the company's Data Center Group (DCG) as general manager and senior vice president since 2012.
https://newsroom.intel.com/news-releases/intel-promotes-diane-bryant/
(New York) Girls Who Code, the national non-profit organization working to close the gender gap in technology, said on Thursday it has released "My Code," a YouTube series about learning how to code from the perspective of four female coders. The weekly series will air every Thursday on YouTube at the link below.
http://www.youtube.com/girlswhocode
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