Did You Know? - Silicon Valley Bank

Did You Know?
June 2005
Did you know that Silicon Valley Bank’s clients are some of the most accomplished and innovative companies in the
technology and life science industries? From emerging enterprises to established, public firms, our clients succeed
through consistent business and technological leadership. We congratulate them on their successes and invite you, as a
member of the SVB community, to tell us about yours.
SVB Tech Investors Forum
Silicon Valley Bank will highlight some
of the best fast-growth technology
companies around at its second annual
SVB Tech Investor Forum September 7-8
in San Francisco.
News Makers
CyOptics, Inc., a Lehigh Valley, Penn.-based supplier of high-speed optical
chips and components for broadband communication solutions, acquired
TriQuint’s optoelectronics operations in Pennsylvania and Matamoros,
Mexico. The transaction was valued at approximately $23.5 million including
a combination of cash, equity and seller financing. CyOptics also closed a
Series F funding round, in which an additional $24 million in equity and
debt financing was raised from Jerusalem Venture Partners, Sprout Group,
TowerBrook Capital Partners (formerly Soros Private Equity Partners) and
Eurofund. www.cyoptics.com
IPOs
Mergers & Acquisitions
Avaki Corporation, of Burlington, Mass.,
was acquired by Sybase, Inc., a Dublin,
Calif.-based provider of enterprise infrastructure and mobile software. Avaki develops
enterprise information integration (EII)
software. Sybase plans to incorporate Avaki’s
technology into its core group of information
management solutions. www.avaki.com
Jazz Pharmaceuticals, Inc., a Palo Alto,
Calif.-based specialty pharmaceutical company focused on neurological and psychiatric
disorders, and Minneapolis-based Orphan
Medical, Inc., entered into an agreement
and plan of merger, pursuant to which Jazz
Pharmaceuticals will acquire Orphan Medical.
Following the merger, Orphan Medical will
become a wholly-owned subsidiary of Jazz
Pharmaceuticals. Orphan Medical develops
pharmaceuticals for inadequately treated
and uncommon central nervous system
diseases treated by specialist physicians.
www.jazzpharma.com www.orphan.com
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Did You Know?
Coley Pharmaceutical Group, Inc., of Wellesley, Mass., filed a registration
statement in connection with the initial public offering of its common stock.
Coley Pharmaceutical Group discovers and develops TLR Therapeutics, a
new class of investigational drug candidates that direct the human immune
system to treat cancers, infectious diseases, asthma and allergy.
www.coleypharma.com
SkinMedica, Inc., of Carlsbad, Calif., filed a registration statement in
connection with the initial public offering of its common stock. SkinMedica
is a specialty pharmaceutical company focused on developing products that
treat dermatologic conditions and diseases. www.skinmedica.com
New Funds
Benchmark Capital, a Menlo Park, Calif.-based early stage venture capital
firm, raised a $250 million second fund, Benchmark Israel II, focused on
investments in Israeli high tech. The fund will focus on early stage software,
Internet, applications, and communications companies. www.benchmark.com
Canaan Partners, of Menlo Park, Calif., closed a $450 million fund, Canaan
VII. The fund will invest in Internet infrastructure, communications, software
and services, medical devices, biological sciences, pharmaceuticals and
diagnostics. Canaan Partners focuses on investments in next-generation
companies in technology and life sciences. www.canaan.com
Split Rock Partners, LLC, of Minneapolis, closed its first fund, Split Rock
Partners, LP, with $275 million. Split Rock focuses on opportunities in
healthcare, software, and Internet services, primarily in the upper Midwest
and West Coast. www.splitrockpartners.com
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Did You Know?
LTU Technologies, of Washington, D.C.,
was acquired by Jastec International, Inc.,
the U.S. subsidiary of Japanese custom
software developer and systems integrator
Jastec Co., Ltd. LTU Technologies provides
image search software. www.ltutech.com
TriVascular, a Santa Rosa, Calif.-based
developer of stent grafts for abdominal
aortic aneurysm therapy, was acquired by
medical device manufacturer Boston
Scientific, of Natick, Mass. Terms of the
acquisition were not disclosed.
www.trivascular.com
Funding Announcements
Infoblox, Inc., Sunnyvale, Calif.
www.infoblox.com
Product:
Network identity appliances
Funding:
$30 million from Sequoia Capital and Lehman Brothers
Orchestria Corporation, New York
www.orchestria.com
Product:
Funding:
Compliance software
$21 million from Paladin Capital Group, Goldman Sachs & Co.,
RRE Ventures, New York City Investment Fund, Benchmark
Capital, Constellation Ventures and Doughty Hanson Technology
Ventures
People in the News
Archivas, Inc., a Waltham, Mass.-based
provider of archive object management
solutions, appointed Scott Dussault CFO.
Prior to joining Archivas, Dussault served
as vice president, treasurer and CFO of
Astra Tech, Inc., a provider of healthcare
devices and medical implants.
www.archivas.com
Consul risk management, Inc., a Herndon,
Va.-based provider of enterprise security
audit and compliance solutions, named
Michael Borton CFO. Borton joins Consul
from iSKY, a customer relationship management solutions company. Borton served as
iSKY’s COO/CFO. www.consul.com
EM4, Inc., and its wholly-owned subsidiary
EM4 Defense, of Bedford, Mass., named
Donald Pratt CFO. Pratt was previously
CFO and treasurer of Taqua, Inc. EM4 is a
supplier of optoelectronic modules and
optoelectronic design and manufacturing
services. www.em4inc.com
Fulcrum Microsystems, Calabasas Hills, Calif.
www.fulcrummicro.com
Product:
Fabless semiconductors
Funding:
$20 million from Granite Ventures, Infinity Capital, New
Enterprise Associates, Palomar Ventures and Worldview
Technology Partners
Sorrent, Inc., San Mateo, Calif.
www.sorrent.com
Product:
Funding:
Cell phone games
$20 million from Granite Global Ventures, BA Venture Partners,
New Enterprise Associates, Globespan Capital Partners and
Sienna Ventures
ChannelAdvisor, Research Triangle Park, N.C.
www.channeladvisor.com
Product:
Channel management solutions
Funding:
$18 million from Advanced Technology Ventures
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Did You Know?
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Did You Know?
Integrated Development Enterprise, Inc.,
of Concord, Mass., named Craig D. Divino,
a 27-year veteran of product development
and technology-based companies, CEO.
Integrate Development Enterprise is a provider of software solutions for integrated
development in the product portfolio management (PPM) market. www.ide.com
Cellerant Therapeutics, Inc., Palo Alto, Calif.
Marathon Technologies Corporation, a
Littleton, Mass.-based developer and supplier
of fault- and disaster-tolerant software for
Microsoft Windows environments, named
Gary Phillips president and CEO. Phillips
comes to Marathon with more than 20 years
of senior management experience at high
technology firms. He was most recently
senior vice president, worldwide sales and
services, for Avaki, an enterprise integration
software company.
www.marathontechnologies.com
Novariant, Inc., Menlo Park, Calif.
Merced Systems, of Redwood City, Calif.,
named David Wittenkamp CFO. Wittenkamp
joins Merced Systems with over 20 years
experience building and running technology
companies and most recently served as CFO
for Dealix Corporation. Merced Systems is
a provider of software for contact center
performance management.
www.mercedsystems.com
Mobile 365, a Chantilly, Va.-based provider
of mobile messaging and data services,
named Joseph Kuhn CFO. Kuhn brings
more than 20 years of experience in accounting and finance for technology-based companies to the company. Kuhn previously
served as vice president and CFO of OPNET
Technologies, a provider of management
software for communication networks and
applications. www.mobile365.com
www.cellerant.com
Product:
Stem cell and progenitor cell-based therapeutics
Funding:
$16 million from Novel Bioventures, George Rathmann, CX
Venture Group, Allen & Company and MPM Capital
www.novariant.com
Product:
Global positioning system technologies for farming, mining and
other industries
Funding:
$16 million from Clearstone Venture Partners, SpaceVest, Marubeni,
Yasuda, Metdist, Pacifica Fund, Arcturus Capital and Argonaut
Private Equity
DATAllegro, Aliso Viejo, Calif.
www.datallegro.com
Product:
Data warehousing appliances
Funding:
$15 million from Adams Capital Management, Palomar Ventures
and Venrock Associates
Mindjet Corporation, Larkspur, Calif.
www.mindjet.com
Product:
Software for visualizing and managing information
Funding:
$15 million from Investor Growth Capital and 3i
GTESS Corporation, Richardson, Texas
www.gtess.com
Product:
Business process outsourcing services
Funding:
$12 million from HLM Venture Partners, Adams Harkness Ventures,
General Catalyst Partners and Kodiak Venture Partners
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Did You Know?
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Did You Know?
Penguin Computing, of San Francisco,
named Frank Mattson senior vice president
and CFO. Before joining Penguin Computing,
Mattson consulted with several technology
companies on financial and operational
strategies and business planning. From 1997
to 2002, Mattson helped grow Scientific
Learning Corporation as CFO, and
ultimately president and COO.
www.penguincomputing.com
Conforma Therapeutics Corporation, San Diego
Pyxis Technology, an Austin, Texas-based
electronic design automation (EDA) company,
named Naeem Zafar president and CEO.
The company also opened an office in Santa
Clara, Calif. Zafar was most recently president
and CEO of Silicon Design Systems, where
he turned the company from an ASIC and
design services company to a pure play EDA
company in the physical design space.
www.pyxistech.com
Packet Design, Palo Alto, Calif.
www.conformacorp.com
Product:
Biopharmaceuticals for the treatment of cancer
Funding:
$11 million from Domain Associates, Forward Ventures,
Inglewood Ventures, Lilly BioVentures, Novo A/S, ProQuest
Investments, RBC Capital Partners, RiverVest Venture Partners
and S.R. One, Limited
www.packetdesign.com
Product:
Appliances that analyze large IP networks
Funding:
$10.5 million from Masthead Venture Partners, Advanced Technology Ventures, Mayfield Fund and Allegis Capital
Stentor, Inc., of Brisbane, Calif., named
Douglas Sinclair CFO. Sinclair most recently
served as CFO and COO of Vertical
Networks. Stentor distributes, manages and
stores digital medical images.
www.stentor.com
Summit Microelectronics, of San Jose,
Calif., named Patrick Brockett president
and CEO. Brockett was previously
president and CEO of Zarlink Semiconductor. He also spent 20 years at National
Semiconductor Corp., where he held
various management roles, including senior
vice president and general manager of the
analog division and senior vice president
of worldwide sales. Summit Microelectronics
supplies semiconductors for consumer,
networking, communications, storage,
computing, industrial and military products.
www.summitmicro.com
Did You Know?
Contact Us
If you, as a member of the SVB community, have a success to share, please
e-mail us at [email protected].
www.svb.com
© 2005 Silicon Valley Bank
Corporate Headquarters Address: 3003 Tasman Drive, Santa Clara, CA 95054
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