SD BizTech Roundup: Ortiva Acquired, EcoATM, & Grid2Home Raise Cash
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AKS Capital, Moore Venture Partners, PI Holdings and Singapore billionaire Koh Boon Hwee. Valuation wasn’t disclosed.
—Memjet, the San Diego-based developer of new inkjet printing technology, said it has reached a key agreement to assume direct ownership and control of 4,000 issued and pending global patents that were previously held and managed by Australia’s Silverbrook Research. Inventor and Memjet co-founder Kia Silverbrook, will continue to support Memjet as a special advisor and consultant. In a statement from an industry conference in Germany last week, Memjet says the deal clears the way for the continued commercialization of Memjet’s revolutionary color printing technology.
—San Diego’s Chumby Industries, which raised about $29 million in venture capital and debt financing, has been selling off its technology patents and other assets. Former Chumby CEO Derrick Oien told me that Chumby’s 30 employees are now working for Technicolor, the media business that is now part of Thomson, the electronics and media conglomerate based in France. Chumby began with a simple Internet-enabled wireless device, about the size of a bedside alarm clock, with a touch-screen that could display the time, weather, traffic, and serve as a music and video player.
—Israel’s Allot Communications (NASDAQ: ALLT) said it reached a definitive agreement to acquire San Diego’s Ortiva Wireless, which specializes in optimizing video streaming across wireless networks. Financial terms of the deal were not disclosed. Ortiva Wireless CEO Marc Zionts told me the company will keep its office in University City after the deal closes, which is expected by the end of June.