Orange County Business Journal

FINANCE

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

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

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Chicago Buyer for SJC Medical Supplier

Pacific Medical LLC in San Juan Capistrano was bought by Jordan Health Products in Chicago on undisclosed terms.

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Mobile Accessories Maker Buys Again

Incipio Group in Irvine acquired Nashville-based competitor Griffin Technology on undisclosed terms.

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Autobytel Q2 Sales Up 19%

Autobytel Inc. in Irvine beat Wall Street expectations for revenue for its second quarter that ended June 30.

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Herbert Matriarch Gives $5M to UCI

Josephine Herbert Gleis has pledged another $5 million to the Gavin Herbert Eye Institute at University of California-Irvine, bringing her total support of its efforts to $19 million since 2007.

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Skullcandy Touts Incipio’s Bigger Bid

Incipio LLC upped its offer to buy Skullcandy Inc. from $5.75 per share to $6.10 per share, or approximately $188.6 million, according to the Irvine-based maker of cellphone cases and other mobile device accessories.

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VC Investments Rebound in Q2

Venture capital investors plunked down more than $229 million for Orange County high-tech companies in the second quarter, according to a report issued Tuesday by the Irvine office of real estate brokerage JLL.

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OCTANe in Med Device Pact

Aliso Viejo-based OCTANe and the Boston-based Massachusetts Medical Device Industry Council will work together to build awareness of emerging med-tech companies for investors in Orange County and Boston.

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Pyott, Kiani in $13M Investment

David Pyott and Joe Kiani were part of a $13M Series A funding round for Bioniz Therapeutics Inc. in Irvine and both joined its board, with Pyott being named chairman.

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Emerald Buys Tennessee Shows

Emerald Expositions LLC in San Juan Capistrano acquired the International Gift Exposition in the Smokies from M&M Gift Shows in Toledo, Ohio.

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Smoothie Products Maker Sold

Fullerton-based Dr. Smoothie Brands has been acquired on undisclosed terms by Bevolution Group in Chicago.

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Office Products Supplier Buys Again

Office Solutions Business Products & Services LLC in Yorba Linda acquired on undisclosed terms the business services division of Irvine-based Newport Stationers.

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Skullcandy Nixes Incipio Offer

Irvine-based Incipio LLC’s bid for Skullcandy Inc. was rejected by the audio equipment manufacturer’s board of directors, in favor of a “superior proposal.”

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$400M for 5.11

Compass Diversified Holdings LLC in Westport, Conn. acquired 5.11 Tactical in Irvine for $400 million.

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CM Law Firm Adds Specialty

Haynes and Boone in Costa Mesa has established an insurance recovery practice group with a new team led by Partner David Bender, Jr.

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WD Sales, Profits Down

Irvine-based Western Digital Corp. reported lower annual sales and adjusted profits.

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Irvine Fin-tech Firm Gets $7.5M

Internet-based mortgage lender cloudvirga Inc. in Irvine raised $7.5 million in Series A funding, led by Calabasas-based Dallas Capital. Santa Monica venture capital firm Upfront Ventures and angel investment club Tribeca Angels in New York participated in the round.

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Electronics Maker Makes Buy

Infinite RF Holdings Inc. in Irvine bought on undisclosed terms L-Com Inc., a maker of custom computer networking equipment in North Andover, Mass.

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Volcom Down in First 6 Months

Costa Mesa-based Volcom Inc. posted $121.8 million in revenue for the first half of 2016, a 14.9% decrease compared to the same period last year, according to Kering, its Paris-based parent.

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WD Leads VC Round

Irvine-based Western Digital Corp. co-led a $77 million funding round for a Redwood City startup with noted Silicon Valley venture capital firm Kleiner, Perkins, Caufield and Byers.

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Vizio in $2B Deal

Irvine-based Vizio Inc. has been acquired for $2 billion by LeEco, a conglomerate based in China.