In today’s Bulldog wrapup of tech and life science news:
- StubHub is hacked
- Viamet names chief development officer
- LinkedIn makes an acquisition
- Cisco takes entrepreneur program to Europe
- 4K TVs for World Cup boost LG
- Cyber Thieves Hit StubHub
NEW YORK — Cyber thieves got into more than 1,000 StubHub customers’ accounts and fraudulently bought tickets for events through the online ticket reseller, a law enforcement official and the company said.
Arrests were expected in a case that sprawled across international borders, said the official, who wasn’t authorized to discuss it ahead of arrests being announced and spoke on the condition of anonymity.
Manhattan District Attorney Cyrus R. Vance Jr. was expected to hold a news conference Wednesday with London and Royal Canadian Mounted Police officials. A spokeswoman for Vance’s office declined to comment Tuesday night on the case, which comes amid growing concern about data thieves targeting retailers and other consumer giants.
StubHub, which is based in San Francisco, said that the thieves didn’t break through its security — rather, they got account-holders’ login and password information from data breaches at other websites and retailers or from key-loggers or other malware on the customers’ computers, spokesman Glenn Lehrman said.
- Viamet Pharmaceuticals Names Chief Development Officer
RESEARCH TRIANGLE PARK – Amir Tavakkol, a veteran life science executive, is the new chief development officer at Viamet Pharmaceuticals.
Viamet is focused on antifungal products.
“Prior to joining Viamet, Dr. Tavakkol most recently served as Senior Vice President of Clinical Development & Operations at Topica Pharmaceuticals Inc., a privately-held, clinical-stage pharmaceutical company. Dr. Tavakkol was previously Project Leader at Merck & Co., a pharmaceutical company. Prior to Merck, Dr. Tavakkol served as Senior Director – Dermatology Clinical Research at Schering Plough. In addition, Dr. Tavakkol was previously with Novartis, where he served as Director of Dermatology Clinical Research,” the company said in the announcement, which was made Tuesday.
- LinkedIn To Buy Ad Tech Company Bizo for $175M
NEW YORK — LinkedIn Corp. is spending $175 million to buy Bizo, a provider of advertising technology and measurement services aimed at professionals.
LinkedIn said Tuesday that it is paying 90 percent in cash and the rest in stock for San Francisco-based Bizo. The deal is expected to close in the third quarter. Founded in 2008, Bizo lets marketers target professionals with ads they want them to see, and helps measure the effectiveness of the ad campaigns.
LinkedIn, a professional networking service based in Mountain View, California, has more than 300 million users. The deal comes a day after Yahoo Inc. announced that it is buying Flurry Inc., which helps companies make mobile apps and design mobile ad campaigns.
Shares of LinkedIn were unchanged in after-hours trading following the announcement of the deal. They had closed the regular trading session up $3.54, or 2.2 percent, to $165.50.
- Cisco Takes Entrepreneurial Program to Europe
Cisco is expanding its startup program to Europe, having launched its first such effort in the U.S. in April with six firms receiving a variety of support.
Cisco is working with Pioneers, a community focused on entrepreneurship, science and technology, according to the news site Telecompaper.
Between five and 10 startups will be selected by Pioneers and Cisco to receive early-stage funding as well as other support from Cisco.
- Ultra High Definition TVs Boost LG Display Profit
SEOUL, South Korea — LG Display Co. said profit for the April-June quarter more than doubled as a stronger won reduced the value of its foreign debt and the World Cup boosted demand for ultra-high-definition TVs.
The South Korean display panel maker said Wednesday its net income reached 256 billion won ($250 million), compared with 105 billion won a year earlier. Operating fell, however, showing that most of the net profit improvement came from the debt revaluation.
Analysts polled by FactSet, a financial data provider, expected profit of 114 billion won.
The panel supplier for Apple Inc. said higher demand for UHD TVs during the World Cup increased panel shipments.
LG Display’s parent company, LG Electronics Inc., is among the TV makers betting that a quadrupling of the resolution of high-definition TVs will convince consumers to upgrade.
Consumer interest in UHD TV sets, also known as “4K,” is positive for panel makers especially because those advanced TV sets tend to come in big sizes, featuring screens larger than 40 inches.