Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Rare Run on PCH

‘Entirely New Type of Investor’ for Commercial Properties Along NB StretchIt’s rarely a bad time to sell a waterfront commercial property in Newport Beach, home to some of the most desirable—and expensive—real estate in California.

By Mark Mueller January 25, 2016 midnight   $$ Share
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Mirman Group Will Wait on Freedom Bid

An investment group led by Freedom Communication Inc. Chief Executive Richard Mirman will not submit the initial or “stalking horse” bid for the company’s assets by today’s deadline.

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VCs Put $140M in OC High Tech in Q4

High-tech companies in Orange County scored more than $140 million in venture capital funding in the fourth quarter of 2015, according to numbers released Thursday by the Irvine office of real estate brokerage Jones Lang LaSalle.

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Ingram Micro Buys in Europe

Irvine-based Ingram Micro Inc. plans to buy the Central and Eastern European operations of Moscow-based RRC Group, a distributor of networking and telecommunications equipment.

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Activision Shares Down on Miss

Shares in Activision Blizzard Inc. fell after it reported results that missed analyst forecasts for revenue and earnings.

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Time Inc. Buys Irvine Ad Tech Firm

Irvine-based advertising technology company Viant Inc. was bought by Time Inc. in New York on undisclosed terms.

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First American has $82M Quarter

Santa Ana-based First American Financial Corp. earned net income of $81.6 million on revenue of $1.36 billion for its quarter ended Dec. 31.

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NB Ad Shop Sold

Newport Beach-based advertising agency O’Leary and Partners has been bought by the Shipyard, a marketing firm in Columbus, Ohio, on undisclosed terms.

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Big Job Cuts at Broadcom

San Jose-based Broadcom Ltd. will slash nearly 700 employees in Irvine as part of a nationwide cost-cutting plan under Chief Executive Hock Tan.

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Laptop Accessories Supplier Acquired

Anaheim-based Targus Group International Inc. was acquired by its lenders for an undisclosed amount in a foreclosure sale on Feb. 1.

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Newspaper Takes Over Rival

Nguoi Viet Daily News Inc. in Garden Grove, publisher of Nguoi Viet Daily News, has taken over assets of competitor The Little Saigon News Inc., according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

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St. Joseph Health to Run Home Health Franchises

Irvine-based St. Joseph Health bought 26 Nurse Next Door franchises with an option to buy 12 more.

Manufacturer’s Recent Buy to Boost Sales by 50%

TECHNOLOGY: LoJack adds to satellite-heavy CalAmp’s line

CalAmp Corp.’s latest acquisition strengthens the company’s long-running diversification strategy crafted by Chief Executive Michael Burdiek.

Fox Head to Shift Workers from NorCal

Fox Head Inc. in Irvine said it plans to close its offices in Morgan Hill in Santa Clara County in June and relocate its finance, IT and sales operations to the motocross apparel and accessories manufacturer’s headquarters in Irvine.

PE Firm Acquires Canadian Companies

Windjammer Capital Investors, a private investment firm in Newport Beach, added two Canadian companies to its portfolio. Terms weren’t disclosed.

Convenience, Security Drive Call for ‘Smart’ Homes

Buyers Now Want Practical Innovation in Retrofits

A recent survey by Coldwell Banker reveals that the growth curve of connected-home devices, such as smart thermostats, door locks, smoke detectors and light switches, is on track to beat that of smartphones and tablets over the next five years, expanding from 20.7 million units in 2014 to 35.9 million units by 2017.

Alphaeon Diversifies With Technology, Hires Execs

Buy of Digital Company Deepens Social Efforts

Irvine-based Alphaeon Corp. is continuing to grow its healthcare technology presence.

Netlist Partners With Samsung in $23M Memory Deal

Co-Developed Product To Be Unveiled This Year

Netlist Inc.’s new joint venture with the world’s largest electronics company paves a path to produce a new hybrid storage-class memory product geared for cloud computing, big data, and server and storage customers that could ultimately reshape the Irvine-based company’s story on Wall Street.

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OC Weekly Sold

Duncan McIntosh Co. Inc. in Irvine has purchased OC Weekly from Denver-based Voice Media Group Inc. for an undisclosed sum.

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M-Flex Sold for $610M

One of China’s largest sheet metal suppliers is set to acquire Irvine-based printed circuit board maker Multi-Fineline Electronix Inc. for $610 million.

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LinkedIn to Buy Costa Mesa Startup

LinkedIn plans to acquire Costa Mesa-based startup Connectifier on undisclosed terms.

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Taco Bell Q4 Profit Down in Up Year

Irvine-based Taco Bell Corp. fourth quarter operating profit fell 4.3% to $152 million, compared with the same period last year, while full-year operating profit increased 12% to $529 million.

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BP Cardboard Box Plant to Close

A 465,000-square foot corrugated box plant in Buena Park run by Atlanta-based Georgia-Pacific LLC will close by Sept. 1, the company said.

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More Fox Head Ops to Irvine HQ

Fox Head Inc. in Irvine said it plans to close its offices in Morgan Hill in June and relocate its finance, IT, and sales operations to the motocross apparel and accessories manufacturer’s headquarters in Irvine.

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Tustin Case Maker Sold for $100M

Tustin-based smartphone battery case maker Mophie Inc. has been acquired for at least $100 million by rival Zagg Inc. in Utah.

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Kurion Sold for $350M

Irvine-based Kurion Inc., which played a key role in stabilizing the contaminated Fukushima Daiichi Nuclear Power Plant in Japan nearly four years ago, has been sold for $350 million to Paris-based nuclear cleanup specialist Veolia.