Mon.Jun 24, 2019

Insight Acquires PCM for $581M in Cash and Debt

L.A. Business Journal

El Segundo-based information technology services firm PCM Inc. will be acquired by Tempe, Ariz.-based based Insight Enterprises Inc. in a deal worth roughly $581 million

Virgin Hyperloop One In Design Link With St. Louis School

socalTECH

Los Angeles-based Virgin Hyperloop One , which is developing futuristic transportation technology, says it has linked up with the Sam Fox School of Design & Visual Arts at Washington University in St. Louis. According to Virgin Hyperloop One, the two will create a "Master of Architecture (MArch) studio" to map out the "social, political and physical context of the state" and to and explore "elegant hyperloop infrastructure proposals" for Missouri.

Design 115

Silicon Beach Report June 24: Insight Acquires PCM

L.A. Business Journal

SpaceX launches Falcon Heavy rocket; Virgin Hyperloop works with WashU in St. Louis; PCM acquired by Insight for $581 million

SpaceX 130

Acutus Medical Collects $170M

socalTECH

Carlsbad-based Acutus Medical , a developer of cardiac imaging and mapping systems for real-time arrhythmia, has raised a big, $170 funding round, split between both equity and credit. According to the company, it raised $100M in a Series D equity funding, plus a $70M credit facility. The equity funding came from 8VC, Opaleye Management, Pura Vida Investments, plus OrbiMed, Deerfield Management Company, Advent Venture Partners, Xeraya Capital and GE Ventures.

Equity 108

Review: Inside the House of Lies at Theranos

Xconomy

Youth. Charm. Fearlessness. Ruthless focus. These can be positive attributes in an entrepreneur, but in a more rational world, technology investors wouldn’t overvalue them. Risk capital would be allocated based mostly on evidence, data, progress towards milestones—in short, on proof.

Course 104

Cubic Names New Board Member

socalTECH

San Diego-based defense and electronics products and consulting provider Cubic Corporation announced a new, independent director on Monday morning, saying it has named David F. Melcher to its board. Melcher is the former president and chief executive officer of the Aerospace Industries Association (AIA), and also served as President and CEO of Exelis Inc., in addition to serving at ITT Corporation., as well as had a long career in the U.S. Army, retiring as Lieutenant General.

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PCM Acquired By Insight Enterprises For $581M

socalTECH

El Segundo-based IT products and services provider PCM is being acquired by Tempe, Arizona-based > Insight Enterprises , in a deal worth $581M, the two announced this morning. According to the two, Insight will pay $35 per share for PCM, which provides hardware, software and services to small, mid-sized and corporate/enterprise commercial clients, state, local and federal governments and educational institutions across the United States, Canada and the United Kingdom.

Conatus to Slash Staff, Consider Sale After NASH Trial Failures

Xconomy

Sales 69

SpaceX Gears Up For Falcon Heavy Launch Later Today

socalTECH

Hawthorne-based SpaceX is gearing up for another launch of its Falcon Heavy, with the first use of the Falcon Heavy by the Department of Defense (DoD). According to SpaceX, the launch window for the Space Test Program-2 (STP-2) mission opens at 11:30pm today, June 24th, with a liftoff targeted from Launch Complex 39A at the Kennedy Space Center in Florida. The mission will deliver 24 satellites to space for the Department of Defense.

SpaceX 108

Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills

Xconomy

To hear some people talk, you’d think the age of bipartisan action in Congress was a lost phenomenon of the distant past. But it’s not so, at least when it comes to certain issues. And no one knows it better than the big Silicon Valley tech companies that are the recent targets of proposed bipartisan bills. Mark Warner, a Virginia Democrat, joined today with a Missouri Republican, Sen.

AFYX Therapeutics Finds $13M In Convertible Note

socalTECH

San Diego-based biopharmaceuticals startup AFYX Therapeutics announced this morning that it has raised $13M in a convertible loan financing. The note came from Sofinnova Ventuers, which led the investment, and also included Nova Seeds and Lundbeckfonden Emerge. AFYX Therapeutics is developing treatments for mucosal diseases, with its lead compound aimed at treatment of oral lichen planus. The company is currently in an ongoing, Phase 2B study.

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Bird Hit By Nashville Scooter Ban, After Rider Death

socalTECH

Santa Monica-based Bird is one of seven scooter companies which have been banned by the city of Nashville, Tennessee, after the major there banned electric scooter companies from streets , as a result of the death of a tourist in the city while riding a scooter. The tourist was struck by a SUV and killed while riding a Bird scooter after an evening at a bar. The tourist's family had called for a ban on scooters in Nashville.