Former Securities and Exchange Commissioner Christopher Cox has joined the board of Irvine-based laser maker Newport Corp.
Cox totes a long resume with international business connections, capital market expertise and extensive knowledge of corporate governance issues, global defense and security.
“These will be invaluable assets to Newport as we continue to pursue our growth strategies and expand our presence in international markets,” Chairman Kenneth Potashner said.
The company makes lasers and related controls for telecommunications, chipmakers, researchers, medical companies and manufacturers.
Newport recently acquired Austria-based High Q Technologies GmbH—a family-owned maker of “ultrafast lasers” and lasers for surgical procedures—and Israel-based optics, instrumentation and measurement company Ophir Optronics Ltd.
The former acquisitions should help make inroads into precision manufacturing, while the latter should help Newport’s push into areas such as thermal imaging and 3D non-contact measurement.
Cox, 59, is a partner in the corporate practice group of Bingham McCutchen LLP in Costa Mesa. He served as SEC chairman from August 2005 to January 2009. Prior to that, he was a 17-year congressman from Newport Beach.
Product Certified
A wireless phone from Newport Beach startup AirTouch Communications Inc. has been certified by Verizon Wire-less, opening up new sales channels and a wider market.
The company, which developed a wireless desktop phone and docking station for the home or office, is one of the first to get Verizon approval for the consumer market, said AirTouch founder and Chief Executive Hideyuki Kanakubo.
“This certificate entitles the product to the same commission structure that Verizon pays for Verizon phones,” Kanakubo said.
That means Verizon’s sales force and resel-lers will gain commissions on units sold and upgrades to data packages.
In addition to the functions of a landline phone, the X1500 can receive text messages, voicemail alerts, and connect wirelessly to the Internet. It comes equipped with up to six cordless handsets and is said to be 10 times more powerful than a hand-held mobile phone.
“We have a wide scope of customers to release our product to,” Chief Financial Officer Jerome Kaiser said.
The product is scheduled to be shipped this quarter in the U.S.
AirTouch recently raised $12 million from private investors as it seeks to make a mark in wireless communication. The company is using the proceeds for research and development, marketing and working capital, targeting growth in Brazil, Russia, India and China.
The phone docking station resembles a wireless router and can carry its own number and link mobile and landline phones, selling for less than $200.
AirTouch has rung up more than $1 million in sales since October. In late July, the company changed its name from Waxess Holdings Inc.
Quest Acquires VKernel
Aliso Viejo-based Quest Software Inc. has acquired VKernel Corp., a Boston company that makes software for managing storage needs, on undisclosed terms.
The company will operate as an independent subsidiary. VKernel also makes software and provides services for analyzing system performance, automating re-ports, managing customers and storing data in the cloud and virtual data centers.
Quest makes software that manages and improves on other business products from Redmond, Wash.-based Microsoft Corp., Oracle Corp. in Redwood Shores, IBM Corp. in New York and others.
Quest is Orange County’s third-biggest software maker by revenue with some $800 million in yearly sales.
The company is a frequent buyer and investor. In May, it bought Montana-based RemoteScan Corp., a software maker that tracks scanners and other imaging devices on corporate networks, and in the first quarter Quest bought BakBone Software Inc., a San Diego-based data protection software maker, for $55 million.
Quest did not provide any guidance for the current quarter. Analysts are expecting an adjusted profit of $43 million on about $244 million in revenue.
Mapping Apps
Fountain Valley startup MEDL Mobile Holdings Inc. is developing a recommendation engine for app enthusiasts.
The patent-pending Mobile Brain aims to bring organization and structure to the vast array of apps that can overwhelm mobile phone and tablet users, said Andrew Maltin, cofounder and chief executive of MEDL Mobile.
“It’s almost impossible for people to find apps and apps to find people, until now,” Maltin said. “We believe the Mobile Brain will completely transform the app discovery process.”
There are nearly 1 million apps available through Cupertino-based Apple Inc.’s app store and the Android marketplace. MEDL Mobile was founded in 2008 and has raised $2.5 million to date from angel investors and its founders.
The company is traded on the low-profile Pink Sheets. In the recently ended quarter, it posted a gross profit of $335,000, up 373% from a year earlier. Revenue topped $705,000, up 250% from a year ago.
