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Seattle-based PayScale, which collects salary and benefits information online, plans to announce today that it has raised $7 million in a second round of venture capital.
The round was led by Trinity Ventures and included Fluke Venture Partners, Madrona Venture Group and Buerk Dale Victor. To date, the company has raised $10.2 million.
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Patricia Nakache, a principal at Trinity Ventures, will join the board. The company will use the money to hire employees, add more information to its database and develop new products.
India moves closer to buying 68 planes
Air India won the approval of an Indian government panel to buy 68 aircraft from Boeing, helping the carrier move one step closer to placing an order valued at $8.1 billion based on list prices.
The Public Investment Board, a government panel that approves large investments of state-run companies, approved Air India’s plan in New Delhi yesterday, said Ajay Prasad, civil aviation secretary. The plan, the biggest order by an Indian carrier, needs further approval from the Cabinet of Prime Minister Manmohan Singh before Air India can place the order.
The Bombay-based carrier, the nation’s biggest overseas airline, is seeking to buy 23 777 and 27 787 planes for itself and 18 737-800 planes for its low-fare unit Air India Express.
Separately yesterday, Airbus said Italian airline Eurofly signed a letter of intent to order three A350-800 planes, bringing the number of commitments for the planned airliner to 143. The order is valued at $480 million at list prices.
Nation / World
Macromedia deal approved by U.S.
Adobe Systems said yesterday the Justice Department has approved its $3.4 billion acquisition of Macromedia.
Adobe and Macromedia, two of the largest providers of graphic-design software, must wait for several European jurisdictions to sanction the deal before it can close.
Adobe’s Illustrator and Macromedia’s Freehand are two of the leading products for vector graphics illustration, a term for drawings that are stored as collections of points and objects instead of pixels.
A combined company also would own a huge chunk of the market for Web site-building tools: Macromedia makes Dreamweaver; Adobe sells GoLive.
Analysts have said that teaming Adobe with Macromedia also would create a formidable competitor for Microsoft, which announced last month that it will launch Web and graphic-design tools next year.
In April, Adobe announced an agreement to acquire Macromedia in an all-stock transaction. Adobe said in a statement that it continues to expect the transaction will close sometime this fall.
Compiled from Seattle Times business staff, Bloomberg News and The Associated Press