Wednesday, February 15, 2017

Bay Area Tech Wire - Feb. 15

BAY AREA TECH WIRE -- Feb. 15, 2017
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Mill Valley's IOVOX Lands $10 Million for U.S. Expansion
San Jose-Based PayPal to Acquire Canada's TIO Networks
Ascendum Solutions to Acquire San Francisco-Based Sourcebits
o DXC Technology Tabbed as Name for Merged CSC, HPE Business
Senate Confirms Linda McMahon as New SBA Administrator
o Briefly Noted: UniPixel, Adyen

> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)

The Shifting Sands of Employee Motivation
--Job Listing: Director of the Department of Technology/Chief Information Officer
--Mid-Atlantic Marketing Summit - April 21 - DC

Full Job, Event, Marketplace and Services Descriptions Below in Classified Ad Section

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o Mill Valley's IOVOX Lands $10 Million for U.S. Expansion

Mill Valley, Calif. -- IOVOX, a U.K.-based developer of call analytics technology with a growing presence in Mill Valley, said on Wednesday it has raised $10 million in its first round of funding, consisting of a combination of equity and debt. Octopus Ventures, SF Capital and Silicon Valley Bank took part in the round, which the company will use to expand in the U.S. and widen the market for its services. Co-founded in the U.K. by Ryan and Belinda Gallagher, IOVOX is a provider of call analytics tools to large brands such as British Telecom, Zoopla, AutoTrader U.K. and Pizza Express. Clients use the technology to sync, store, organize and search their call data across all devices. The company's recently opened office in Mill Valley serves as a hub for its U.S. growth plans. "Historically, the call tracking industry has been focused on helping prove ROI for inbound marketing calls," said Ryan Gallagher. "Inbound marketing calls are just a portion of a company's total call volume. With this new funding, we've set out to make all calls -- regardless of source -- actionable, informative and able to be analyzed for individuals and for businesses of any size." 

o San Jose-Based PayPal to Acquire Canada's TIO Networks

San Jose, Calif. -- PayPal, the San Jose-based digital payments giant, said it will pay approximately $233 million in cash to acquire Vancouver-based TIO Networks, provider of a cloud-based multi-channel bill payment processing and receivables service. Under the deal, expected to close after midyear, PayPal will pay $2.56 a share. TIO processed more than $7 billion in consumer bill payments last year, primarily to telecom, wireless, cable and utility companies, and currently serves more than 14 million customer accounts, primarily from the financially underserved. The company's service allows customers to pay their bills from 900 self-service kiosks, 65,000 walk-in locations or through mobile or web tools. "By acquiring TIO and integrating bill payment into our global payments platform, PayPal adds another key service in our efforts to become a part of a consumer's everyday financial life," said PayPal CEO Dan Schulman. 

o Ascendum Solutions to Acquire San Francisco-Based Sourcebits

San Francisco -- Ascendum Solutions, an Ohio-based provider of information technology consulting services, said on Wednesday it will acquire San Francisco-based Sourcebits, a provider of digital strategy and design services. Financial terms of the deal, expected to close by the end of March, were not disclosed. Sourcebits, which is primarily backed by Sequoia and IDG, has developed mobile apps for more than 400 clients in the retail, financial services, wellness, travel and technology sectors. Ascendum said the acquisition will bolster its digital business, which offers digital strategy services, analytics, Internet of Things (IoT) and cloud products to clients. 

o DXC Technology Tabbed as Name for Merged CSC, HPE Business

McLean, Va. -- The proposed merger of CSC and the Enterprise Services segment of Palo Alto-based Hewlett Packard Enterprise (HPE) will result in the formation of a new company called DXC Technology, the companies announced Wednesday. The new company, a pure-play IT services firm with approximately $26 billion in annual revenue and nearly 6,000 clients, is expected to debut April 3. The company expects to list its shares on the New York Stock Exchange under the ticker symbol "DXC." Mike Lawrie, CSC's chairman, president and CEO, who will serve in those same roles with DXC, said the new company will "[enable] clients to seize the opportunities presented by today's rapidly changing technologies." Shareholders of CSC and HPE each will own about 50% of the newly formed entity. The megadeal was first announced in May.

o Senate Confirms Linda McMahon as New SBA Administrator

Washington, DC -- The Senate on Wednesday confirmed Linda McMahon, the former CEO of World Wrestling Entertainment (WWE), as the new administrator of the Small Business Administration (SBA). McMahon, a Republican who ran for U.S. Senator in Connecticut in 2010 and 2012, was nominated by President Trump. She said she aims to focus on promoting entrepreneurship, particularly among women -- something she advocated as the co-founder and CEO of Women's Leadership LIVE, a leadership and business training organization. In her new role, McMahon will direct a federal agency with more than 2,000 full-time employees that helps small business owners and entrepreneurs secure financing, technical assistance and training, as well as vie for federal contracts. "I believe in leadership by example," said McMahon. "As a CEO, I never expect employees to do anything I am not willing to do myself. I believe in setting expectations and holding people accountable, but trusting them to do the job for which they were hired." She succeeds Maria Contreras-Sweet, who was nominated by President Obama in 2014. 

o Briefly Noted:

(Santa Clara, Calif.) Santa Clara-based UniPixel, a developer of metal mesh capacitive touch sensors for the touchscreen and flexible display markets, said it has priced a $10 million public offering. The company is selling 10.5 million shares for $0.95 each in the offering, which is expected to close next Tuesday. 

(San Francisco) Adyen, a San Francisco- and Amsterdam-based developer of payments technology used by clients such as Uber, Facebook and Netflix, on Wednesday named Eric Morse as its senior vice president of sales in North America. Morse most recently served as the vice president of enterprise sales at NetSuite, and earlier was the sales and business development lead for Google Cloud Platform. 

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> The Shifting Sands of Employee Motivation

The old "if-then motivators" of giving bonuses for the achievement of goals no longer work. Work has become too complex and is changing too rapidly for such simple formulas to be relevant and to motivate performance. Here, we summarize research on shifts in employee motivators.

> Director of the Department of Technology/Chief Information Officer

The City and County of San Francisco is conducting a national search for an engaging, customer-service driven executive to oversee the award-winning Department of Technology with over 220 employees and an annual operating budget of nearly $100 million. The Director of the Department of Technology/Chief Information Officer (Director of DT/CIO) is at-will management-level position reporting to the Mayor with functional reporting to the City Administrator. Interested candidates should apply by by submitting a compelling cover letter, comprehensive resume, and current salary to Confidential inquiries welcomed to Ms. Heather Renschler at (916) 630-4900. Detailed brochure available at

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