Active Network Shares Rise, Accelrys Buys Sweden’s Contur, Mitek Raises $15M, & More San Diego BizTech News

5/31/11Follow @bvbigelow

The IPO market is clearly improving, with San Diego’s Active Network serving as the latest example in a slew of new stock offerings. We have that and all the other tech news you need to start your week.

—Shares of the Active Network (NYSE: ACTV) steadily gained altitude last week after the San Diego-based provider of online registration services for events, went public through an initial stock offering of $15 a share. The stock is trading this morning around $18 a share.

—The number of IPO filings increased during the first quarter of this year, according to an IPO pipeline study from the Ernst & Young accounting firm. The San Diego-based Active Network was among 125 companies that filed for an IPO nationwide during the first three months of 2011, a 56 percent increase over the 80 companies that were registered to go public at the end of the first quarter of 2010.

—San Diego’s Mitek Systems closed a $15 million private placement to boost its working capital as part of its plan to move its listing from the over-the-counter bulletin board to the Nasdaq Capital Market. Mitek has developed mobile transaction technology that enables smartphone users to deposit checks, pay bills, and conduct other transactions.

Accelrys (NASDAQ: ACCL) expanded its electronic laboratory notebook capabilities by acquiring privately held Contur Software AB of Stockholm, Sweden, in a deal valued at $13.1 million. Accelrys specializes in software used to model chemical reactions and to help scientists manage their research and development.

—In his WWW tech column, Wade argued that there is room for optimism as the latest wave of innovations in computer tablets, mobile apps, and cloud-based computing eliminate jobs and reshape the economy. He identifies “four slender threads” to hang some hope that the trend of technology ephemeralization—a coalescing of capabilities with fewer and fewer people—can enable dispossessed journeyman workers find gainful employment.

San Diego was among the 25 “most electric vehicle-ready cities in the U.S.,” according to research from Dearborn, MI-based Ford Motor, which plans to roll out its Focus EV later this year.

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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