HP to absorb file-serving software co. Ibrix
Hewlett-Packard has announced its pending acquisition of Ibrix, a Billerica, Mass., company that helps companies like Pixar quickly access large amounts of stored data. While the financial terms of the deal have not been released, Ibrix had previously raised $49 million in capital from JT Venture Partners, Credit Suisse and others.
The company, which boasted 175 customers at the time of the deal (expected to close in the next 30 days), has offered its software on… Continue Reading
FTEN gets backing for direct market trading software
Financial software developer FTEN nabbed an undisclosed amount in second-round preferred stock funding from financial giants Merrill Lynch, Goldman Sachs, J.P. Morgan and Credit Suisse. The New York-based company provides digital applications to help prime brokers, clearing firms and hedge funds make direct transactions, assess risk and compliance, and easily monitor market data. It plans to use the investment to grow its operations in Europe and Asia.
The round comes at a time when hedge funds… Continue Reading
SolarReserve promises a first in energy storage with $140M solar power financing
The problem with solar power is that it only works when the sun is shining. Once the sun goes down, there’s no more power. SolarReserve hopes to change that, with a design it says can store solar power at 99 percent efficiency.
SolarReserve’s basic technology is similar to that of other companies, including Ausra, Brightsource and eSolar. Called solar thermal power, it uses mirrors to reflect sunlight onto a centralized structure, in this case a tower…. Continue Reading
Innovation Fuels takes $15.5M venture capital, $160M credit line toward biodiesel production
Update: Innovation CEO John Fox says the credit line figure reported by VentureWire was incorrect and smaller than $130 million, although he would not disclose the exact amount.
Relatively small right now, Albany, NY-based Innovation Fuels has plans to move into a bigger league soon, with forecasted production of 300 million gallons per year by next year.
Like larger competitor Renewable Energy Group, which called off an IPO this year due to market conditions, Innovation plans to… Continue Reading
Smart grid investments come hot and heavy — SmartSynch gets another $20M for talkative electrical meters
Two days ago it was Optimal Technologies with $25 million toward software for electrical grids; today, it’s SmartSynch with $20 million for wirelessly communicating meters. I haven’t gone back and done an official count, but with well over half a dozen large fundings in the past few months, the efficiency-focused smart grid space looks to have emerged as the hot cleantech venture space du jour.
“Smart grid” is a catch-all term for a number of technologies… Continue Reading
Noble Environmental Power files for $375M wind power IPO
Despite a rough market for IPOs — as evidenced by Real Goods Solar’s tough first day of trading yesterday — Noble Environmental Power, an Essex, Conn., wind power startup has filed plans to raise up to $375 million in an IPO
Its share sale will be underwritten by Lehman Brothers, JPMorgan and Credit Suisse; CPP Investment Board is a minority backer. Noble Environmental currently manages 282 MW; its wind farms are located in New York, Michigan,… Continue Reading
Life sciences briefing: Thursday, Dec. 20, 2007
TODAY’S HEADLINES:
Acorn Cardio raises $22M for heart-failure device (bizjournals.com)
Agile Therapeutics raises $5.6M for women’s health (release)
Polyheal draws $1M for wound healing (Globes)
MatrixBio receives seed funding for cancer diagnostics (release)
Pacira Pharma names David Stack as CEO (release)
VivoMetrics appoints Howard Baker as CEO (release)
Acorn Cardio raises $22M for heart-failure device – St. Paul, Minn.-based Acorn Cardiovascular, a device maker investigating a device that would restrain the expansion of failing hearts, raised $22 million in a new funding round…. Continue Reading
Cleantech Network to raise $10M for green conferences, consulting
Cleantech Network, the San Francisco media and conference company specializing in the area of green technology, is about to finish raising $10 million in financing, according to VentureWire (subscription required).
Reached by VentureBeat this morning, founder Nicholas Parker said he “can’t comment on rumours.”
Credit Suisse Group and U.K. investment firm Consensus Business Group provided the financing, which adds to funding already provided the company earlier by Sail Venture Partners and entrepreneur Bob Epstein.
According to the report,… Continue Reading
Scalent raises $15M for data center virtualization
Scalent Systems, a Palo Alto company offering a data center virtualization software, said it has raised $15 million in a third round of funding.
This round was led by new investor Credit Suisse and includes participation by all existing investors, Hummer Winblad, JK&B Capital, and Pequot Capital, the company said in a statement sent to VentureBeat last week.
From its statement:
Scalent Systems is the first company to virtualize the entire environment of existing virtual and… Continue Reading