Force10 and Turin merge, pool their capital and clients
Network builder Force10 Networks has merged with Ethernet services provider Turin Networks to create a powerhouse in both spaces, with an impressive list of clients, numbering 1,300 (including eHarmony and Facebook), reports peHUB. More significant than that is the marrying of two significant pots of venture capital. Since their nearly simultaneous founding a decade ago, Force10 has raised $400 million, and Turin $250 million.
Combined under the Force10 name, the new entity, based in San Jose,… Continue Reading
Mobile app maker MobUI acquires Action Engine to extend reach
MobUI Corp., a young mobile application developer, announced today that it has bought peer company Action Engine Corp. The latter has a software platform that streamlines the process of adapting one application to different handhelds and carriers, which could help MobUI scale. The cost of the acquisition hasn’t been released, and it’s unclear whether Action Engine executives cashed out or took equity in MobUI.
Bellevue, Wash.-based Action Engine had raised $65 million in venture capital before… Continue Reading
Turin Networks buys Carrier Access for $92.7M
Turin Networks, a Petaluma, Calif. provider of networking equipment, will buy Carrier Access, a struggling company in Boulder, Colo. that is publicly traded on the Nasdaq exchange.
Although Turin has agreed to pay about $2.60 per share for Carrier Access, that amount could be lower if the latter company has less than $63 million on its balance sheets when the acquisition is finalized.
A number of venture firms have invested in Turin over the years, including Baker… Continue Reading
Omniture buys Web site testing company, Offermatica, for $65M
Omniture, which helps companies analyze their customers’ online behavior to boost revenue, has acquired San Francisco’s Offermatica for $65 million. Offermatica helps companies test different aspects of their Web sites, to see how customers respond to changes in content or other features.
Under the deal, Omniture will pay Offermatica $35 million in common stock and $30 million in cash.
Offermatica had raised a $5.1 million in a first round of capital from East Coast firm Baker Capital… Continue Reading
Action Engine raises $20M for media delivery to mobile phones
Action Engine, a Bellevue, Wash. developer of a platform that allows mobile operators to deliver music and video to Web-enabled mobile devices, has raised $20 million in a fifth round of funding.
Baker Capital led the round, which included Northwest Venture Associates and Spangler Group. Action Engine has now raised around $65 million in funding
Turin Networks, telecom equipment maker, to bring in $50M more
Turin Networks, a Petaluma, Calif.-based telecom equipment maker, apparently is struggling, and looks to have taken between $26 million and $35 million financing at worse terms than previously.
Called a recapitalization round, this sort or refinancing typically lowers the value of the company, so that new investors have an incentive to invest. A lower value means they get a larger share of ownership for every dollar they invest.
VentureWire and PE Week report the different numbers today… Continue Reading