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...

Dallas Biotech to Costa Mesa

Dallas-based Cerebain Biotech Corp. has moved its corporate headquarters from Dallas to Costa Mesa.

Theme Park Company Buys NY Property

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

AI Developer Secures Sony Investment

Anaheim-based artificial intelligence developer Cogitai received a strategic investment on undisclosed terms from Sony Corp., the multinational conglomerate headquartered in Tokyo, Japan.

Knife Maker Sold to Beverly Hills Firm

American Capital Ltd. sold PHC Sharp Holdings Inc. to Beverly Hills-based investment manager Levine Lechtman Capital Partners on undisclosed terms.

Augmented Reality Product Picked for China Pitch

CandyBAR Delivers Images to Mobile Devices

Irvine-based Candy Lab, which has developed an augmented reality product intended to help businesses attract consumers, is one of eight companies selected by the Plug and Play Tech Center in Sunnyvale to pitch to venture capitalists, angel investors, and government officials in China.

Pyott Slated to Return to Spotlight at Eye Conference

Will Be Interviewed By Another Company Veteran

David Pyott, retired chief executive and chairman of Allergan Inc., now Allergan PLC, will be the headliner next month at the annual Ophthalmology Technology Summit put on by OCTANe, an Aliso Viejo-based booster group for life sciences and other forms of technology.

Newport Sports Museum Office Sells for Top Price

Museum Closed in 2014, Sells for Nearly $1,500/SF

An office near Fashion Island shopping center that previously held the Newport Sports Museum has sold for what looks to be one of the highest recent prices for an office deal in Orange County per square foot.

Clean Energy Founder Savors Idea of First Profits

Otherwise Laments State Of Overall Fuel Market

Count Clean Energy Fuels Corp. co-founder and corporate raider T. Boone Pickens among the throngs of company backers who thought a profitable quarter would come years ago.

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OC Unemployment Down

Orange County’s unemployment rate was down to 3.9% in April as employers added 9,600 jobs.

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UCI Eye Institute Gets $2M

University of California-Irvine’s Gavin Herbert Eye Institute received a $2 million gift from the Discovery Eye Foundation in Los Angeles.

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Sony Invests in AI Developer

Anaheim-based artificial intelligence developer Cogitai received a strategic investment on undisclosed terms from Sony Corp.

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Knife Maker Sold

American Capital Ltd. sold PHC Sharp Holdings Inc. to Levine Lechtman Capital Partners on undisclosed terms.

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Apex Parks Buys in NY

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

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Q1 Tech VC Funding Down

Orange County High-tech venture capital investment dollars declined in the first quarter of 2016 compared with the same time last year.

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Nissan Takes $2.2B Mitsubishi Stake

Nissan Motor Co. Ltd. said it will take a controlling stake in Mitsubishi Motors Corp., the parent company of Cypress-based Mitsubishi Motors North America Inc., for about $2.2 billion.

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Palace Parent Goes Public

Newport Beach-based Palace Entertainment Holdings LLC’s $430 million in debt is expected to be repaid as a result of its parent company’s recent initial public offering.

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Theme Park Owners Report Results

Burbank-based Walt Disney Co. said revenue at its parks and resorts—a division that includes Disneyland Resort in Anaheim—grew 4% in the company’s most recent quarter to $3.92 billion, up from $3.76 billion in the same period last year.

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Broadcom Sells Another Unit

Broadcom Ltd. has agreed to sell its wireless infrastructure backhaul business for $80 million to MaxLinear Inc. in the latest divestiture led by Chief Executive Hock Tan.

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HCP Spinning Off Skilled Nursing, Assisted Living

Irvine-based HCP Inc. will spin off its HCR ManorCare skilled nursing and assisted living businesses into a separate, publicly traded real estate investment trust.

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Autobytel Shares Crater on Q1 Results

Autobytel Inc. in Irvine reported mixed results for its March quarter, exceeding Wall Street expectations on revenue but delivering below forecasts on earnings

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Clean Energy Q1 Beats Wall Street

Newport Beach-based Clean Energy Fuels Corp. after the close of trading reported revenue and adjusted profits in the first quarter that blew away Wall Street expectations.

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Argyros Family Gives $7M for Hoag Nursing Program

Hoag Memorial Hospital Presbyterian today received a $7 million gift from Orange County philanthropists George and Julia Argyros to support its nursing program.

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$40M for AV-Based VR Camera Maker

Aliso Viejo-based 360fly Inc. has raised $40 million in a Series C financing round to boost global sales and marketing efforts for its breakthrough 360-degree 4K camera to be released later this month.

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Santa Ana Lender Names CFO

Santa Ana-based Stearns Lending LLC named Steve Smith chief financial officer.

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B Riley in $170M Buy

B. Riley Financial Inc., a Los Angeles-based investment firm that maintains an office in Newport Beach, is buying internet service provider United Online Inc. for $11 a share or about $170 million.