Digital Video Experts React to Google’s WebM, Motorola Out Scouting for Spinoff Headquarters, BakBone Cuts ColdSpark, & More San Diego BizTech News
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leading technology experts in the region.
—Cymer’s David Knowles told me the TCZ display division he heads has installed its first system for making ultrathin OLED (Organic Light Emitting Diode) displays for an unnamed customer in South Korea. Knowles said the San Diego company plans to deliver its second OLED manufacturing system, which cost about $10 million apiece, to another unnamed customer in China this Fall.
—Members of the Tech Coast Angels invested $1.6 million—and helped induce another $9.9 million in venture investments—in five startup deals during the first three months of 2010. TCA Chairman Richard Sudek said that investors’ mood seems to be improving, even though the pace of angel investing remained sluggish.
—So much for this idea: San Diego’s BakBone Software, which acquired ColdSpark a year ago for $15.9 million in cash and stock, shut down the business and said it is taking a $300,000 charge in personnel-related expenses and writing off $12.6 million in non-cash goodwill. A BakBone spokeswoman never responded to my phone call or e-mail inquiries concerning the number of layoffs. Chris Mellor of the Register provided the most incisive, or should I say, eviscerating, analysis of the move.
—Zeebo, the San Diego video game console maker, has raised $8 million in a combination of equity, debt, and loans convertible to stock. Zeebo, which is backed by wireless giant Qualcomm and Brazilian video-game developer Tectoy S.A., is selling its equipment now in Brazil and Mexico.
—Qualcomm is opening its second multimillion-dollar R&D facility in China—this time in Shanghai—in a move that underscores the importance of the huge Chinese market to the San Diego wireless technology provider.