Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Footwear Maker Names Interim President

Sole Technology Inc. in Lake Forest appointed Esmail Mawjee interim president, a new position.

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OCTANe Q2 Funding Up Big

Aliso Viejo-based OCTANe announced Monday that startups that completed its LaunchPad accelerator raised nearly $75 million in the second quarter, according to Chief Executive Bill Carpou.

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Accreditation for Concordia Business School

Concordia University in Irvine said it received accreditation for its business and economics programs within its business school, which serves undergrads and grads.

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Jury Nixes $554M Claim

A jury in Orange County unanimously ruled Friday against San Juan Capistrano-based InfoSpan Inc. in favor of Dubai-based Emirates Bank in a federal lawsuit.

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Healthcare Group Starts $150M Fund

Innovation Institute in La Palma will raise $150 million to invest in early-stage healthcare companies. It bought TriStar Health Partners LLC in Nashville to be the fund investment manager.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,182.58.

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Emerald Buys Two More Shows

Emerald Expositions LLC in San Juan Capistrano acquired two trade shows from founder Shannon Leggett on undisclosed terms.

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OC No. 3 in Travel Ranking

Orange County is the No. 3 “large city” destination—bested only by Los Angeles and New York City—in a national assessment by Resonance Consultancy Ltd. in New York.

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Hotel Menage to Rebrand as Sheraton

The Hotel Menage in Anaheim plans to rebrand as a Four Points by Sheraton, industry sources said.

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ASICS Americas Sales Down

ASICS America Corp.’s sales in the first half of its fiscal 2016 declined 17.3% compared to the same period last year, according to its parent, Japan-based Asics Corp.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,186.88.

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Allergan to Buy Glaucoma Co. for $95M

Allergan Plc plans to buy ForSight Vision5 for $95 million and milestone payments.

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REIT in First of Three Development Deals

CareTrust REIT Inc. in San Clemente invested $2.2 million in a company that’s developing a new healthcare facility CareTrust plans to own.

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Disney Parks Earnings Up

Walt Disney Co. in Burbank earned $2.6 billion on revenue of $14.3 billion in its most recent quarter, up from $2.5 billion on $13.1 billion for the same period last year.

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Private Equity Firm Sells Dairy

Marwit Capital in Newport Beach has sold on undisclosed terms its Driftwood Dairy Inc. to Vietnam Dairy Products Corp.

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Education Firm to Open Irvine Site

New York City-based General Assembly, a global education company, announced Wednesday it will open a campus in Irvine.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,176.35.

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Microsemi Name for Rams' UCI Field

Aliso Viejo-based chipmaker Microsemi Corp. has taken naming rights of the Los Angeles Rams practice facility at University of California-Irvine.

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Karma Seeks to Make Model in China

Wanxiang Group Corp., the parent company of Karma Automotive LLC in Costa Mesa, plans to manufacture electric cars in China, according to Bloomberg.

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NextVR Completes $80M Funding

Laguna Beach-based virtual reality content maker NextVR Inc. said it has completed an $80 million round of funding, led by a syndicate of Asian technology companies.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,182.68.

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Target to Open Concept Store Near UCI

Minneapolis-based Target Corp. selected Irvine Company’s University Center near University of California-Irvine as one of four college campus locations where it will open a “flexible-format” store. It will be the first such store in Orange County.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,180.47.

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Device Maker Names Boss

ReShape Medical Inc. in San Clemente named Mike Mangano its president and chief executive.

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Karma Sets Sales Strategy

Karma Automotive LLC in Costa Mesa said its distribution strategy for the new Revero car will include 10 independent dealers and a company-owned “brand-experience center” in Orange County.