Tech News

Carlsbad-based Dot Hill Systems, a manufacturer of external RAID storage devices, said today that it is in a definitive purchase agreement to buy Cloverleaf Communications, a software firm developing storage virtualization and storage management products. The deal is worth $2.5M in cash plus approximately $9.5M shares of its common stock. Cloverleaf has headquarters in New York, with research and development in Israel. Dot Hill said the buy would broaden its reach into storage virtualization, data management services software, and the unified storage market. Elic Yavor and Yosi Klein, two of Cloverleaf's founders, are among those joining Dot Hill as part of the acquisition. Tags: development, research, software

San Diego-based Sangart, a biopharmaceuticals firm focused on the commercialization of oxygen therapeutics, said Thursday that it has raised $50M in a Series F funding round. Names of investors were not disclosed, however, the firm said the round came from existing investors. According to Sangart, the funding round brings the company's total raised under its Series F round to approximately $100M. The new funding will go towards further clinical development of its products. Sangart's Series F, which initially closed in April of 2007, was led by Leucadia National Corporation. Tags: development, mac

AP - Internet pioneer Yahoo Inc. is scheduled to report its fourth-quarter results after the stock market closes Tuesday. The following is a summary of key developments and analyst opinion related to the period. Tags: development