Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Kofax Sells for $1B

Shares of Kofax Ltd. soared in afterhours trading today after the Irvine-based software maker announced it would be sold for $1 billion to Lexmark International Inc. in Lexington, Ky.

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Auto Dealer Sales Up in 2014

Automotive dealers in Orange County combined for $11 billion in sales last year, a 10% increase over 2013, according to the Newport Beach-based Orange County Automobile Dealers Association’s 2014 Economic Impact Report.

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Midday Stock Roundup

The S&P 500 was down 0.3% to 2,098.22 in midday trading.

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Dana Point Cloud Company Sold for $25M

Dana Point-based communications company SimpleSignal Inc. has agreed to sell for $25.3 million to Vonage Holdings Corp., a Holmdel, N.J.-based provider of telephone services via broadband connection.

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Taco Bell Considers Design, Delivery

Irvine-based Taco Bell Corp. said it plans to test new store designs as well as food delivery, according to trade journal Nation’s Restaurant News.

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OC Adds Jobs; Unemployment Down

Orange County added 14,600 jobs in February, helping drive down the unemployment rate to 4.6% from a revised 5% in January.

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Jobless Rate Up on Revised Data

Orange County’s unemployment rate ticked up to 5% as an annual revision by the U.S. Department of Labor showed 21,200 fewer jobs in January than in December, for a total of 1,510,700.

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Midday Stock Roundup

The S&P 500 was up 0.1% to 2,109.91 in midday trading.

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Levy Invests $120M in Del Taco

A group led by Chicago restaurateur Larry Levy has invested $120 million in Lake Forest-based Del Taco Holdings Inc., the first step in its previously announced acquisition of the fast food chain.

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UCI Chancellor Emeritus Peltason Dies

Jack Peltason died Saturday at 91.

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Irvine Restaurant Operator Buys Again

American Restaurant Holdings Inc. in Irvine said an affiliate bought the five Orange County locations of Costa Mesa-based Fresca’s Mexican Grill.

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OC Auto Sales Rise 10.9%

Sales of new vehicles at Orange County auto dealers increased 10.9% year-over-year in February to 12,861, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Irvine Restaurant Operator Buys Again

American Restaurant Holdings Inc. in Irvine said an affiliate bought the five Orange County locations of Costa Mesa-based Fresca’s Mexican Grill.

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Ceradyne Founder Moskowitz Dies

Joel Moskowitz, cofounder of Costa Mesa-based Ceradyne Inc., has died, according to a report in the Los Angeles Times.

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Midday Stock Roundup

Major indices climbed in midday training on easing fears of a hike in interest rates by The U.S. Federal Reserve.

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Kia Recalls Soul Cars

Irvine-based Kia Motors America Inc. has recalled 208,858 of its Soul and Soul EV models due to an issue with the gas pedal, according to the National Highway Traffic Safety Administration.

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Ingram to Pacific Life's Board

Newport Beach-based Pacific Life Insurance Co. said today that Douglas Ingram, former president of Allergan Inc., has been elected to its board, effective May 1.

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ReShape Raises $2M

San Clemente-based medical device maker ReShape Medical Inc. has raised $2 million, according to a Securities and Exchange Commission filing.

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Midday Stock Roundup

The S&P 500 was down 0.4% to 2,090.27 in midday trading.

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Seven Honored for Entrepreneurship

Members of the Orange County business community celebrated seven winners during a luncheon Wednesday for the Business Journal’s 14th Annual Excellence in Entrepreneurship Awards.

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Midday Stock Roundup

The S&P 500 was up 0.7% to 2,086.62 in midday trading.

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Pyott to Retain Chair of Allergan Foundation

David Pyott will remain chair of the Allergan Foundation, according to Actavis PLC, the Ireland-based drug maker that recently wrapped up its $72.5 billion buy of Irvine-based Allergan Inc.

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Ingram Buys in South America

Santa Ana-based Ingram Micro Inc. said it bought businesses in Peru and Chile from Clearwater, Fla.-based Tech Data Corp., on undisclosed terms.

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Microsemi in $389M Deal

Microsemi Corp. has agreed to acquire Camarillo-based networking chip maker Vitesse Semiconductor Corp. for $389 million.

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Times Gets $4.2M Lien on Register

The Los Angeles Times has been granted a $4.2 million “writ of attachment” against the Orange County Register in Superior Court, according to a news report.