Local acquisitions seem to be in bloom this spring, as you can see in our current and recent newsletters. While most of these acquisitions have been in tech, life sciences are also getting some action, such as MindTouch, JLab Audio, Perspectium, PowerDot, Sensemetrics, GenMark, and Decipher Bio.
A positive trend around this is that most of these acquisitions are by larger companies in a similar space and not by private equity. This typically helps keep a company locally rooted and grow, as opposed to reducing staff, which San Diego exits have been plagued with.
A few other recent acquisitions that have seen teams stay and grow locally include GreatCall by BestBuy and Lumendyne by Google. Exits that keep the team and recycle capital back into the community certainly have some big impacts. We’ll continue to highlight those.
Also, maybe you saw last week’s ransomware attack on Scripps Medical? While these seem to be so often that they feel benign, they are wreaking havoc on local institutions, including the Port of San Diego, another victim in 2018.
Many don’t know how the cybersecurity community comes together to help respond and get our companies back online in San Diego, but it highlights the bigger need for technology and how San Diego is poised to help, from private to military solutions.
The San Diego Cybersecurity community is strong and so we’re bringing everyone together for an intimate tech networking event, the first in a new series called Fresh Brewed Tech Live.
Join us on June 15 for Cybersecurity Night where we’re going to expertly match industry professionals for curated meaningful connections and thought leadership. Speakers being announced shortly.
Fast Five Stories of the week:
- VillageUp releases data on the diversity of the San Diego Startup community
- New SD Workforce Partnership program and grant is helping train new cybersecurity talent locally
- Startups are leaning into new found success through crowdfunding
- Chipotle and Jason Mraz are launching a sustainable farms accelerator. Applications due May 27th
- San Diego logistics tech continues to ride the global trend of growth
Join us every Friday at 12:30 p.m. on Clubhouse, where we dive into these stories with Jonah Peake and tech reporters from the UT and SDBJ.