Orange County Business Journal


Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Report: Advantage Sales & Marketing On Sales Block

The parent of Irvine-based Advantage Sales & Marketing is looking into a sale of the company in a deal that could approach $4 billion, according to a Reuters report.

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Sequent Medical Raises $20M

Aliso Viejo-based medical device maker Sequent Medical Inc. has raised $20 million in venture capital funding.

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Pac Merc Gets New CCO

Costa Mesa-based Pacific Mercantile Bancorp has named Robert Stevens chief credit officer of the company and its Pacific Mercantile Bank subsidiary.

CSUF Index: Outlook About Flat for Q2

ECONOMY: Continues to ease off all-time high notched last year

Orange County business owners and executives enter the second quarter with a virtually unchanged outlook on the economy, according to the latest quarterly index of business expectations published by the Mihaylo College of Business and Economics at California State University-Fullerton.

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Opus Sets Price Range on IPO

Irvine-based Opus Bank has announced specifics of its plans for an initial public offering, which will include about 5.7 million shares of common stock priced between $31 and $34.

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Laguna Hills PE Firm in Deal for Video Technology Developer

Laguna Hills-based private equity firm Parallax Capital Partners LLC has joined another investor in acquiring DivX LLC in San Diego.

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SJC Camera Maker in Merger Agreement

San Juan Capistrano-based network camera manufacturer IQinVision has agreed to merge with Vicon Industries Inc. in Edgewood, N.Y. in an all-stock transaction.

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Irvine Investor Adds RSM Restaurant

Irvine-based American Restaurant Holdings Inc., an investor in restaurants and food manufacturing companies, has acquired Canyon Fireside Grille on undisclosed terms.

Facebook’s OC Focus

$2B Deal on Heals of Google Hookup With Oakley

Orange County gave Silicon Valley and the rest of the world plenty to talk about in a 24-hour burst last week.

No IPO, No Problem for City Ventures

REAL ESTATE: Homebuilder raises $345 million with land sales

City Ventures Inc. has shown that there are other ways to raise money, even as some fellow Orange County-based homebuilders have opted to join a recent trend of initial public offerings.

Zuckerberg’s Reality

Facebook Inc.’s eye-popping $2 billion acquisition of Irvine startup Oculus VR Inc. is a long-term bet on the future of computing, Mark Zuckerberg told analysts last week.

Gordon’s Opus

From Recapitalization to $4B in Assets, Eye on More

Stephen Gordon was unabashedly proud of the company he kept at the Business Journal’s 13th Annual Excellence in Entrepreneurship Awards.

Startup Device Maker Raises $32.5M

Irvine-based Axonics Modulation Technologies Inc. completed a $32.5 million first round of financing.

ADDENDUM -- Week of March 31

The Defense Advanced Research Projects Agency in Arlington, Va., awarded Boeing Co.’s operations in Huntington Beach a $30.7 million contract to support development of a system to use aircraft for satellite launches at a cost savings compared to rocket-fueled launches.

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Report: El Pollo Loco Eyeing IPO

The owners of Costa Mesa-based El Pollo Loco Holdings Inc. are looking to take the company public, according to a report from the Wall Street Journal.

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Pac Merc Adds Silicon Valley Vet

Costa Mesa-based Pacific Mercantile Bancorp has named former Silicon Valley Bank executive Tom Wagner as manager of the northern division of its Pacific Mercantile Bank subsidiary.

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Miven Portfolio Company Goes Public

A company in the portfolio of Newport Beach-based entrepreneurs Victor and Janie Tsao remained slightly above its initial price of $15 per share today, with a market value of about $156 million.

Wall Street Backer for Cruttenden’s Main Street Micro-Investing App

FINANCE: Looks to link mass market, money managers

Walter Cruttenden, an investment banking pioneer in Orange County, has secured $5.5 million in funding from a Wall Street fund manager to bring his latest business venture to market.

Device Designer to Stay Local Under New Owner

HEALTHCARE: Sees benefit in Illinois company’s size

An Irvine design and engineering firm that develops products for medical device and biotech companies has been sold to a larger competitor.

UK Device Maker Eyes Offering Here

HEALTHCARE: Lombard’s US operations in Irvine

A British medical device maker that has its U.S. headquarters in Irvine is seeking its fortune in the U.S.

Acacia Bruised in Past Year But Expects Rebound

TECHNOLOGY: Rugged run wiped out 45% of market value

Three straight disappointing quarters for Acacia Research Corp. has zapped 45% of the company’s market value, leaving it at $789 million as of late last week, but executives say they’re confident it will bounce back through pending patent lawsuits.

Startup Raises $4.5M in 1st Round

Irvine startup Bitvore Corp., which mines information from email, social media and websites for business customers, closed a $4.5 million inaugural fundraising round.

5 Entrepreneurs Honored for Excellence

Members of the Orange County business community celebrated five winners of the Business Journal’s 13th Annual Excellence in Entrepreneurship Awards last week.

ADDENDUM - March 24

Irvine-based Motorcycle Industry Council hired Erik Pritchard as its general counsel. The appointment was effective immediately and fills a spot left open by the departure of Paul Vitrano, who recently joined snowmobile and ATV maker Polaris Industries as vice president for global government relations.