Orange County Business Journal

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

Smith Micro Software Inc. has regained compliance with the NASDAQ Stock Market’s minimum bid price requirement, the Aliso Viejo company announced today.

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Airport Area Hilton Sells

Infinity Realty Advisors in Los Angeles said a client bought the 306-room Hilton Irvine/Orange County Airport.

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FantasyAces Acquires More Players

The parent company of Aliso Viejo-based startup FantasyAces LLC has entered an agreement to acquire a database of fantasy sports players from Gaming Nation Inc.

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Swell.com Parent Rebrand on Hold

Australia-based online retailer SurfStitch Group Ltd. said a wave of recent losses have prompted it to delay a global rebranding effort that would have consolidated its online operations into a single website—Swell.com—named after its e-commerce subsidiary in Irvine.

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Orange Coast Magazine for Sale

Emmis Communications Corp. in Indianapolis plans to sell Newport Beach-based Orange Coast magazine, Los Angeles magazine and three other regional monthly print publications as part of an effort to go private, according to Orange County Business Journal sister publication Los Angeles Business Journal.

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Incipio Ends Skullcandy Pursuit

Incipio LLC walked away from its bidding war with Mill Road Capital Management LLC, a private investment firm that made the winning offer for Skullcandy Inc. at $6.35 a share in cash, which valued the company at about $197 million.

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Tilly's Results Beat Street

Tilly’s Inc. in Irvine reported revenue and earnings that exceeded Wall Street expectations for the August quarter.

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OC a Top-10 Funding Market

Orange County was the eighth largest U.S. market for high-technology venture capital funding in the second quarter, a jump of two slots compared with the same period last year, the Irvine office of real estate brokerage JLL said.

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Lantronix Narrows Loss

Irvine-based Lantronix Inc. reported lower net losses in its most recent quarter and year; shares rose 15% after-hours Tuesday but declined on a sell-off in Wednesday trading

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Bank to Pay $100M for Stadium Name

Irvine-based Banc of California is the $100 million naming partner for the Los Angeles Football Club’s new soccer stadium, which is scheduled to open in 2018.

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Acacia-Veritone Deal Could Hit $50M

Acacia Research Corp. will lend $20 million to Veritone Inc. in a deal that could be worth up to $50 million to Veritone.

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Lombard Exits U.S., Seeks Sale

Irvine-based Lombard Medical Inc. said it would exit the U.S. market and explore “strategic alternatives” for its business in other markets.

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Bryant Has $100 Million VC Fund

Retired NBA player Kobe Bryant has added venture capitalist to his new calling, with a $100 million fund that will invest in technology, media and data companies.

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Unemployment Up as Labor Force Grows Again

Orange County’s unemployment rate rose to 4.6% in July from a revised 4.4% in June.

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Former Ubiquity Exec Faces SEC, DOJ Charges

The former interim chief executive of Irvine-based Ubiquity Inc., which is transitioning away from media and into augmented and virtual reality, has been slapped with civil fraud charges by the Securities and Exchange Commission and criminal fraud charges by the Department of Justice.

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Frost Startup Gets More Money

NarrativeWave raised $1.2 million in Series C funding, bringing its total funding to $3.2 million.

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Smile Brands Acquired

Smile Brands Group Inc. in Irvine has been acquired by private equity firm Grpyhon Investors in San Francisco on undisclosed terms.

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LoanDepot Gets $150 Million

Irvine-based loanDepot.com LLC has received $150 million in term debt financing.

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Ex-Abbott Exec New Alphaeon CEO

Alphaeon Corp. in Irvine named Murthy Simhambhatla president and chief executive to replace Robert Grant.

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Amazon’s Twitch Buys Irvine Gaming Specialist

Twitch.tv, the world’s largest live-streaming site for gaming content, has acquired Irvine-based Curse Inc., which creates content for gamers.

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LAB Holding In $7M Long Beach Land Buy

Shaheen Sadeghi of Costa Mesa-based LAB Holding LLC got the green light from the Long Beach City Council to turn city-owned property in the north part of the town into a “small-business friendly” retail center.

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Smith Micro Down After Reverse Split

Shares of Smith Micro Software Inc. are down in its first trading session after the Aliso Viejo-based company initiated a reverse stock split before the start of trading today.

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OCTANe in State Life Sciences Push

OCTANe in Aliso Viejo will work with California Life Sciences Association on statewide advocacy and programs for supporting Orange County life sciences companies.

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OC Hotel Sales Up, Prices Down

The number of hotels sold in the first half of 2016 increased 27% but total dollar value of those sales fell 83%, a report by Atlas Hospitality Group said.

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Puerto Rico Manufacturer Buys in Costa Mesa

Costa Mesa-based Mocean Holding Company LLC has been acquired on undisclosed terms by SNC Technical Services in Puerto Rico.