Motorola Mobility Stays Put, RadiSys Acquires Continuous Computing, Watchwords From Qualcomm’s Town Hall Meeting, & More San Diego BizTech News
Much of San Diego’s tech news came out of the mobile industry last week, along with a dash of cleantech and a dollop of software. In other words, a feast for the hungry reader.
—The big deal of the week came when Hillsboro, OR-based RadiSys (NASDAQ: RSYS) announced an agreement to acquire privately held Continuous Computing, a San Diego company that provides wireless infrastructure equipment based on the Trillium set of software protocols. Radisys agreed to pay a total of $105 million when the deal for Continuous Computing closes, with an additional payment of either $15 million or payments based on the sales of certain Trillium products until 2014.
—Illinois Gov. Pat Quinn and Motorola Mobility Chairman and CEO Sanjay Jha announced Friday that the corporate headquarters for the Motorola spinout will remain in Libertyville, IL. Jha, who was previously Qualcomm’s chief operating officer, was considering a move to San Diego, Silicon Valley, or Austin, TX. Gov. Quinn said Illinois is providing a business investment package to Motorola to help keep approximately 3,000 jobs in the state.
—Power efficiency, security, integration, and simplicity were the watchwords that Qualcomm’s top executives used to explain their strategy during a town hall meeting at Qualcomm (NASDAQ: QCOM) headquarters last week. As the complexity of wireless networks multiplies, Qualcomm chairman and CEO Paul Jacobs said, “The key is really going to be making all these things simple [for the user].”
—A large-scale denial-of-service-attack distracted Sony system administrators in San Diego from network intruders who gained access to some 101 million user accounts on the PlayStation Network, Qriocity, and Sony Online Entertainment in mid-April, according to a letter that Sony delivered to Congress last week. Stolen customer data included names, addresses, e-mail addresses, and birthdates, but Sony now says stolen credit card information was encrypted.
—A streaming video of the U.S. raid that killed Osama bin Laden was “almost certainly” carried on a mobile broadband system developed for the U.S. military by Carlsbad, CA-based ViaSat, according to ZDNet UK editor Rupert Goodwins. ViaSat delivered a militarized, secured version of its technology to the U.S. Special Operations Command in 2008.
—A quarterly report from The Software Equity Group, a San Diego based investment banking and consulting firm, says the first three months of 2011 is the sixth consecutive quarter that the median valuation of public software companies in the index has been at or above two times 12 months revenue. The Software Equity Group also counted 394 software buyouts and mergers during the first quarter, with the cumulative value of all deals totaling $8.3 billion.
—Xconomy has a new Facebook fan page, and you can check it out here. We’ve made it more personal, and we’re including photos from events we’ve organized from coast to coast.
—The California Energy Commission awarded $2 million to UC San Diego to accelerate R&D and demonstrate the feasibility of using a variety of new plant-based biofuels as alternatives or to replace existing transportation fuels.