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Direct Drive Systems Acquired for $120M

socalTECH

Cerritos-based Direct Drive Systems , a developer of high speed motors for the oil and gas industry, has been acquired by Houston-based FMC Technologies, FMC said earlier this week. Direct Drive is a spinout of Calnetix.

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With $40 million for AuditBoard’s risk and compliance toolkit, LA’s enterprise startups notch another win

TechCrunch LA

Daniel Kim and Jay Lee, the two founders of AuditBoard , a Los Angeles-based provider of a risk and compliance software service for large businesses, grew up middle school friends in Cerritos, Calif. I couldn’t believe there wasn’t a software for compliance and risk,” Lee said.

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