Mission Ventures’ Leo Spiegel Senses an Uptick in VC Activity, SAIC Plays Crucial Role in Cyber Security, DivX Buys AnySource, & More San Diego BizTech News

9/8/09Follow @bvbigelow

While there was a bit of a lull among San Diego’s hardware and software companies last week, Mission Ventures’ Leo Spiegel told me venture activity in the sector seems to be picking up. Our news summary begins now.

—Mission Ventures managing partner Leo Spiegel told me he’s “cautiously optimistic” about a resumption in venture investment activity. Spiegel says one encouraging sign for VCs is that one of Mission Venture’s portfolio companies is looking to go public through an IPO, although he declined to say which one.

—Alan Paller, a founder and director of research at the SANS Institute outside Washington , DC, said San Diego’s SAIC is ahead of other defense contractors when it comes to meeting the federal requirements for computer security contracts. (SANS, which stands for SysAdmin, Audit, Network Security, is a research and training organization for professionals.) According to Paller, SAIC (NYSE: SAI) “is the only major defense contractor that is able to deliver large numbers of people with advanced technical security skills.” SAIC said it recently won a $388 million contract from the U.S. Department of Homeland Security to provide cyber security for the National Communications System.

—In a quest to expand its digital video codec technology, San Diego’s DivX (NASDAQ: DIVX) said it is acquiring AnySource Media of Malvern, PA, in a deal that could be worth as much as $15 million, if certain milestones are met over the next three years. AnySource’s Internet television streaming technology enables users to connect their TVs to Internet-based content and services.

—San Diego-based BrightScope, a startup that analyzes and rates the performance of 401k plans, said it has raised $2 million in a secondary round of angel funding that includes Jim Caccavo of Steelpoint Capital Partners. Caccavo, a former CEO of Tickets.com, will join BrightScope’s board. The company has developed its Web-based software to help corporate customers analyze the performance and costs of various 401k retirement plans.

http://www.xconomy.com/san-diego/2009/09/02/brightscope-raises-2m/

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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