Cerberian raises $3.35M in new venture capital
Cerberian Inc., a Salt Lake City-based Internet content filtering solutions company, has raised $3.35 million in its latest venture capital round.
The investments were led by vSpring Capital and also included first-time investments from East Gate Capital of Palo Alto, Calif., and Aspen Grove Ventures of Lehi.
Scott Petty, vSpring’s managing director, said Cerberian’s success in a competitive market earned the company investor confidence.
“We recognize the uniqueness of the company’s business model and the talent it has in place to execute on its objectives,” Petty said in a statement Wednesday. “Recent contracts with SonicWall, Fortinet, GTA, Belkin, and Zone Labs demonstrate the company’s progress.”
Added East Gate’s Ken Choi: “We have found in Cerberian a unique business model and a proven, established technology developed by a talented group of dedicated people.”
Cerberian Chief Executive Jeff Smith said the fresh funding will allow his company to accelerate sales and marketing initiatives.
— Bob Mims
PacifiCorp VP will retire
After four years as PacifiCorp’s executive vice president for Utah, Bill Landels said Wednesday that he plans to retire from the company and return to Scotland in April 2004.
“When I arrived here in October 1999, my goals were to ensure Utah realized the benefits of the [PacifiCorp] merger with ScottishPower, that our commitments to improve customer service and network performance were fulfilled,” Landels said.
PacifiCorp is the parent company of Utah Power.
Landels will be succeeded by Rich Walje, a native Utahn who sits on PacifiCorp’s board and serves as the company’s senior vice president of corporate business services.
Walje will make the transition to the executive vice president’s role between January and April 2004 with Landels continuing in his present position until his retirement.
— Steven Oberbeck
Villa Theatre sale in works
Harmons on Wednesday confirmed that a deal is pending to sell Salt Lake City’s landmark Villa Theatre to an unnamed buyer.
But the grocery chain would supply no details. “Harmons is under contractual agreement not to comment until the sale is complete,” spokeswoman Rhonda Greenwood said.
In February, the 53-year-old movie house at 3092 S. Highland Drive showed its last film and was expected to be razed.
The 1,000-seat Villa was nationally recognized as one of the last of the 1950s craze Cinerama theaters still showing first-run movies. But the single-screen theater had become unprofitable in an era of neighborhood multiplexes.
Carmike Cinemas, a Georgia-based chain in Chapter 11 bankruptcy, operated the theater from 1994 until its closure. Harmons bought the 3.3 acre property as an investment, saying it planned to resell it.
— Glen Warchol
