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Morphlabs Raises $5M

socalTECH

Damarillo is known for founding GlueCode, which he sold to IBM in 2005, Logicblaze, which he sold to Iona Technologies in 2007, and for founding Webtide, which was sold to Intalio in 2009. Morphlabs also said it anticipates additional funding announcements before the end of the year. READ MORE>>.

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Qualcomm Founder Jacobs Sets Retirement From Board

socalTECH

Jacobs had already stepped away from day to day management of Qualcomm back in 2005, and had stepped down as Chairman in March of 2009. Qualcomm is now in the hands of Jacobs' son, Dr. Paul E. Jacobs, who is Chairman and CEO. READ MORE>>.

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SoCal VC's Scarce On Top VC List

socalTECH

This week's release of a list of their "Top 100" venture capitalists by AlwaysOn -- based roughly on number and dollar amount of successful M&A and IPO deals between October 1, 2005 to September 30, 2009--seems to have skipped local Southern California venture capitalists, with only one Southern California VCs listed.

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Broadcom To Pay $160.5M to Settle Class Action Lawsuit

socalTECH

The class action suit was filed by investors who bought or acquired shares of Broadcom between July 21, 2005 and July 13, 2006. District Court for the Central District of California, and will result in a one-time charge in its 2009 fourth quarter results. Broadcom said the settlement is subject to approval by the U.S. READ MORE>>.

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ACG Los Angeles Business Conference

SoCal Tech Calendar

Wednesday, September 16, 2009 -- ACG Los Angeles Business Conference. Keynote speakers will include Paul Volcker, Chairman of President Obama's Economic Recovery Advisory Board and former Chairman of the Federal Reserve System, and Condoleezza Rice, Secretary of State from 2005 to 2009. See [link].

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ACG Los Angeles Business Conference

SoCal Tech Calendar

Tuesday, September 15, 2009 -- ACG Los Angeles Business Conference. Keynote speakers will include Paul Volcker, Chairman of President Obama's Economic Recovery Advisory Board and former Chairman of the Federal Reserve System, and Condoleezza Rice, Secretary of State from 2005 to 2009. See [link].

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Report Tallies $7.7 Billion In SoCal IT Exits In 2011

socalTECH

Both years were well above 2009, which had a low of only $475M in exits. The report also tallied six companies having IPOs, the most since 2005; those firms included RealD, Cornerstone OnDemand, Demand Media, ReachLocal and Inphi Corp. Among other major 2011 exits listed were Riot Games ($400 million) and HauteLook ($270 million).