Aliso Viejo’s Telogis Inc., a maker of navigation and traffic software for delivery fleets, made its second buy in the past year or so.
Telogis picked up Cranford, N.J-based Intergis LLC, a privately held rival that serves small and midsize businesses. Terms weren’t disclosed.
The move is set to boost Telogis’ growth by giving it some 2,000 additional customers, the company said.
“This new acquisition positions Telogis for substantial growth,” Chief Executive Dave Cozzens said.
Telogis focuses on large businesses, while Intergis pinpoints smaller ones.
“Our focus on large enterprises combined with Intergis’ focus on small- and medium-sized business ensures a strong revenue stream and sure footing to pursue additional growth and expansion,” Cozzens said.
Telogis also said it recently raised some $3 million in funding. No further details about the source or type of funding were disclosed.
The Intergis buy is the second acquisition by Telogis in the last eight months.
In July, it picked up Remote Dynamics Inc. of Texas for undisclosed terms.
Telogis, which started in 2001, has offices in Europe and Latin America, as well as a development center in New Zealand.
Telogis uses global positioning systems and software to help companies with large fleets of delivery trucks create better routes, track shipments and deliveries, and cut costs.
Its customers include the government, food and drink makers, oil and gas utilities and others.
Board Additions
A couple of local companies have expanded their boards.
Irvine-based Kofax PLC, a maker of software that helps companies cut down on paper and organize digital files, recently added Wade Loo as an independent director.
Loo also is set to head the company’s audit committee.
He retired from KPMG LLP last year after three decades there.
He is a member of the American Institute of Certified Public Accountants and California Society of CPAs, and has a business bachelor’s from the University of Denver.
Santa Ana’s Powerwave Inc., a maker of cellular base station gear for wireless networks, added to its advisory board.
It appointed F. Whitten Peters and David Deptula to its technical strategic and advisory board, which advises on product development and strategy for government clients.
Peters practices law at Williams & Connolly LLP of Washington, D.C. During the Clinton administration, he served as secretary of the Air Force and in other roles.
Deptula is a retired deputy chief of staff for intelligence, surveillance and reconnaissance for the Air Force.
Powerwave’s advisory board is designed to “provide strategic direction for the company’s product development and marketing efforts … for the government, public safety, military and homeland security markets,” according to the company.
Solarflare Funding
Irvine’s Solarflare Communications Inc., one of the area’s best-funded chip startups, raised another $5 million in debt financing, according to a regulatory filing.
No other details about the funding were given. The move follows another recent debt round in December that also totaled $5 million.
Solarflare makes networking chips that help bridge older data networks to newer, faster ones.
Last year the company changed tack and started selling its speedy data networking circuit boards directly to finance-related companies.
It’s a marked shift from Solarflare’s initial strategy, which was to sell chips to server makers themselves.
The company sells its boards directly to banks, hedge fund operators, stock exchanges, brokerages and other financial institutions.
The company has raised an estimated $210 million in various types of funding to date. It expects to turn a profit this year.
Solarflare’s investors included Westport, Conn.-based Oak Investment Partners, Britain’s Acacia Capital Partners, Santa Monica-based Anthem Venture Partners, Corona del Mar’s Miramar Venture Partners and Intel Corp.’s venture arm, among others.
Tech Spending
Global spending on information technology products and services by corporations hit nearly $1.5 trillion last year, driven by pent-up demand for upgrades and investment after tech spending ground to a near-halt during the recent recession, according to data from Framingham, Mass.-based market researcher International Data Corp. This year, spending is projected to grow 7% to $1.65 trillion in worldwide revenue.
Bits and Pieces
Howard Atkins, the former finance chief of Wells Fargo & Co. who unexpectedly resigned earlier this month, is set to stay on as a director at Santa Ana’s Ingram Micro Inc., the top distributor of technology products. Atkins resigned for “personal reasons” and is set to retire in August after an unpaid leave of absence effective in February, according to the company. It remains unclear why Atkins left the company, where he was widely regarded for steering it through the financial crisis … Fountain Valley’s Kingston Technology Co., the top maker of memory products for computers, made a roughly $3 million investment in Taiwanese chipmaker JMicron Technology Corp. JMicron is a maker of controller chips for solid state drives, which are made up of flash memory and have no moving parts.
