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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AtheroNova Files for Bankruptcy

Irvine-based AtheroNova Inc. and a subsidiary have filed for bankruptcy protection.

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WD Unit Acquires Storage Software Maker

A San Jose-based unit of Western Digital Corp. has acquired a maker of storage software for public and private cloud data centers.

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11 OCers Make Forbes List

Eleven residents of Orange County were included in a recent ranking of The World’s Billionaires by Forbes Magazine.

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Auction.com Buys Software Company

Auction.com LLC, an Irvine-based online real estate auction company, has acquired Channel LLC in Newport Beach on undisclosed terms.

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Software Maker Gets $5.5 Million

Irvine-based software maker YouMail Inc. has raised $5.5 million in a Series B funding round, the company announced this morning.

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How Henry Did It

Local Infrastructure, Global Vision Behind OC Legend

Henry Segerstrom was renowned, of course, as creator of South Coast Plaza and a patron of art and music.

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Dog Sleds to Dior: Slice of Legend’s Life

It Took an Impresario to Get Global Traction in Costa Mesa

Add one more entry next to Henry Segerstrom’s name in the history books: retail impresario who saw Tiffany jewels where lima beans once grew.

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Kofax Buys Dutch Software Maker

Irvine-based business software maker Kofax Ltd. has acquired a company in the Netherlands that specializes in the growing customer-management software segment.

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El Pollo Loco Plans to Expand in Utah

Costa Mesa-based El Pollo Loco Holdings Inc. said a group of Southern California franchisees have agreed to open five locations in the Salt Lake City market by 2018.

Apartments Draw Premium in IBC

REAL ESTATE: $112 million would be highest price since 2013

A spate of apartment development going up on Jamboree Road in Irvine doesn’t appear to be scaring off investors looking for existing complexes in the same area.

OC Schools Aim to Fill Key Rx of Reform

EDUCATION: Pharmacy programs in various stages at 3 universities

Three local universities want to launch pharmacy schools here, and they would join six others in Southern California and a total cadre of 11 statewide.

OCMA Still Plans Move to Segerstrom Land

ARTS: Sale, price of current location could be trimmed

Plans to relocate the Orange County Museum of Art to a new facility at the Segerstrom Center for the Arts in Costa Mesa are moving forward despite uncertainty over the fate of the museum’s current location in Newport Beach.

Device Maker Follows Side Effect Into New Niche

HEALTHCARE: Switch from respiratory to blood pressure aid

Rox Medical Inc. has shifted its business model as it seeks to lower the pressure—and possibly lure a buyer.

Wet Seal’s Fate to Unfold With Bids

RETAIL: Philadelphia firm joins B. Riley in bargain hunt

Beleaguered teen retailer Wet Seal Inc. is still drawing interest, even if it comes in the form of some rock-bottom bidding.

Singapore Firm to Buy Emulex for $606M

Costa Mesa-based networking equipment maker Emulex Corp. announced it would be acquired for $606 million by Avago Technologies Ltd.

Beauty Products Firm Reportedly for Sale

Pacific World Corp. in Aliso Viejo is up for sale, according to the Wall Street Journal.

Toba Capital Puts $4M Into Drink Maker

Toba Capital Management in Newport Beach invested $4 million in Irvine-based True Drinks Inc.

HB Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. bought the Shorebreak Hotel in Huntington Beach for $58.5 million, or nearly $373,000 per room.

Location, Amenities Part of Luxury Home Pricing Mix

$20M Gets You Varying Degrees of OC Posh

What will $20 million get you in Orange County? There’s a three-bedroom, two-bath, 1,774-square-foot home on a third of an acre in Emerald Bay in Laguna Beach that has a list price of nearly that.

Industrial Development Stymied by Lack of Land, Residential Competition

There were 502,612 square feet of industrial space under construction at the end of the fourth quarter.

Kilroy Sell-Off Continues in $26M Deal for IBC Land

Fairfield Residential Plans Mix of For-Sale, Rentals

Los Angeles-based Kilroy Realty Corp. has completed the long-planned sale of a former industrial site on Von Karman Avenue in Irvine where a residential project is slated to go up.

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Asics Reaches $1 Billion Sales Mark

Asics America Corp. said it surpassed $1 billion in net sales for the first time last year, a 14.9% year-over-year increase, and expects about 14% growth in 2015.

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JWA January: More Fliers, Fewer Flights

A trend that has run about six months continued in January at John Wayne Airport as the facility saw increased passenger counts on fewer commercial flights.

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DealerSocket Makes Another Buy

San Clemente-based DealerSocket Inc. has acquired a Rancho Santa Margarita company that specializes in software for car dealerships.

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Ingram Shares Fall on Outlook

Shares of Ingram Micro Inc. dipped after markets closed Thursday, and continued to decline in midday trading Friday, as the Santa Ana company provided revenue and profit targets in the current quarter below Wall Street expectations.