What you need to know - 06/23/11

Square adds a former government official to its board; EA might acquire PopCap for $1+ billion

Allegiance, provider of VOCi (Voice of Customer Intelligence) technology and services, closed a $12 million Series B led by new investor El Dorado Ventures.

The iPhone 5 may come out as early as September and the device will reportedly be faster and have a more advanced camera than the iPhone 4.

Best Buy launched Best Buy Music Cloud, a cloud music service designed to offer users access to their entire music collection across multiple devices.

In May, Google, across its many Web properties, became the first to surpass one billion unique visitors globally for the month.

Sources say Electronic Arts is about to acquire PopCap Games for over $1 billion.

Square added a new member to its board of directors: former U.S. Secretary of the Treasury and Chief Economic Advisor to President Obama, Larry Summers.

Enterprise cloud storage provider StorSimple secured a $10.5 million Series C round of funding led by Ignition Partners, with participation from all of StorSimple’s existing investors, including Index Ventures, Mayfield Fund, and Redpoint Ventures.

Touchstone Semiconductor, developer of high-performance analog integrated circuit solutions, secured $12 million in Series A funding from Opus Capital and Khosla Ventures.