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...

Oculus Buttons Up Last Operations at Original HQ in Irvine

TECHNOLOGY: Software team will head to Silicon Valley

Oculus VR Inc., a trailblazer that put Orange County on the virtual reality map, has moved the last remnants of its local operation to Silicon Valley.

PE Firm Sells Electronics Supplier

Newport Beach-based Windjammer Capital Investors, one of Orange County’s long-standing private equity firms, sold Irvine-based electronics components supplier Infinite RF Holdings Inc. on undisclosed terms to San Francisco-based private equity firm Genstar Capital.

Software Maker Takes in $1.4 Million

San Juan Capistrano-based data-analysis software maker NarrativeWave Inc. received $1.4 million in new funding, bringing its cumulative amount raised to $2 million.

Burger Chain Plans OC Spots

Burger Boss LLC in Corona plans to open at least five corporate-owned locations in Orange County by year-end.

Steadfast a Record Maker with Music City Purchase

$110M Apartment Deal Tops for Nashville Region

An affiliate of Irvine-based Steadfast Cos. has bought a big apartment complex in the suburbs of Nashville, Tenn., in what local news reports say is the priciest multifamily deal the area has ever seen.

Chapman U. Incubator Ventures Into Show Business

Links Lawyers, Students For Entertainment Startups

Chapman University’s Leatherby Center for Entrepreneurship has expanded into entertainment. The shift at the incubator comes at the direction of Professor Judd Funk, a former entertainment lawyer who worked for several Hollywood studios and who teaches at Chapman’s law and film schools.

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Montage’s Pendry in Baltimore Named

The Baltimore hotel Montage Hotels & Resorts will run under its Pendry brand has been named Sagamore Pendry Baltimore.

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Data Analytics Company Launches

A Frost Data Capital data analytics startup officially launched today.

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Broadcom Shares Up on Outlook

Shares of Broadcom Ltd. were up after the chipmaker announced adjusted profits in the May quarter that topped Wall Street expectations and gave a sales outlook for the current quarter.

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CareTrust Buys in Michigan

San Clemente-based CareTrust REIT Inc. said today it bought four senior housing properties in Michigan.

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Alorica to Double in Size

Irvine-based call center operator Alorica Inc. will acquire Expert Global Solutions in Plano, Texas, on undisclosed terms.

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Santa Fe Springs Distributor Sold

Santa Fe Springs-based distributor USE Co. Inc. has been sold on undisclosed terms to Ingersoll Rand in Davidson, N.C.

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Advantage Solutions Makes Buy

Irvine-based Advantage Solutions acquired ecommerce specialist Sage Tree LLC in Naperville, Ill. on undisclosed terms.

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SJC Software Maker Gets $1.35M

San Juan Capistrano-based data-analysis software maker NarrativeWave Inc. has received $1.35 million in new funding, bringing its cumulative amount raised to $2 million.

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Opus Bank Wins Design Award

Irvine-based Opus Bank has received the International Interior Design Association’s 2016 Calibre Design award in the small workspace category.

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Windjammer Sells Electronics Supplier

Windjammer Capital Investors, a private equity firm in Newport Beach, sold Irvine-based electronics components supplier Infinite RF Holdings, Inc. on undisclosed terms to San Francisco-based private equity firm Genstar Capital.

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Chapman Creates VP for Research

Chapman University named Thomas Piechota its first vice president of research, effective Sept. 1.

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Carbon-Capture Co. Gets $29M

Costa Mesa-based Newlight Technologies LLC, founded to make technology that captures and converts carbon and methane into plastics, received $29.2 million in “Form D” venture funding, according to a regulatory filing Tuesday.

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More Job Cuts at WD

Irvine-based storage products maker Western Digital Corp. is cutting nearly 100 more jobs in Orange County as the company begins to integrate its $17 billion buy of SanDisk Corp. that closed two weeks ago.

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Tilly’s Shares Up

Shares of Tilly’s Inc. in Irvine were up 12% in midday trading Thursday following a first quarter report that exceeded Wall Street expectations on revenue and despite a higher-than-expected loss.

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Alphaeon CEO Steps Down

Robert Grant is no longer the chief executive of Irvine-based Alphaeon Corp., a lifestyle healthcare company he founded three years ago.

Irvine Co. Provides Free Space to Incubator - Which Provides Free Space to Startups

Bennett Washabaugh and Mike Zei launched their commercial real estate startup, TenantBase, with Irvine Company in mind as an innovator that leases space to startups around the country.

Deal Signal of Irvine Co. Shopping Spree?

REAL ESTATE: $1B CMBS offering could precede some big property buys

A new billion-dollar funding deal involving a portion of Irvine Company’s apartment portfolio raises the prospect that Orange County’s dominant real estate company could soon be on the lookout for acquisitions.

KBS Lands SF Tower, Redmond Business Parks

REAL ESTATE: $300M spree follows bond deal in Israel

A real estate investment trust run by Newport Beach-based KBS Realty Advisors, fresh off a $250 million bond offering in Israel, has made plans to spend nearly $300 million on an office property in downtown San Francisco and a portfolio of business parks in the Seattle suburbs.

Details of Pending Abbott-St. Jude Merger Unclear

HEALTHCARE: Combo to make both more competitive

It’s not yet clear how Abbott Laboratories’ pending $25 billion buy of St. Jude Medical Inc. will impact the latter’s Orange County operations.