Orange County Business Journal

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Recent and archived news stories on: Aerospace, Agribusiness, Chemicals, Electronics, Energy, Fabrication, Industrial, Plastics, Textiles...

Hyundai to Pay Penalty for Failing to Report Defect

Hyundai Motor America said it will pay a $17.4 million civil penalty and comply with the National Highway Traffic Safety Administration’s oversight requirements for failing to report in a timely manner a braking system defect that affected Hyundai Genesis vehicle model years 2009 to 2012.

By Mediha DiMartino August 8, 2014 10 a.m.   Share
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Broadcom Shares Surge on Takeover Talks

Shares of Broadcom Corp. surged in afternoon trading today amid media reports that the Irvine-based chipmaker is in negotiations to be acquired by Avago Technologies Ltd.

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Neudesic Buys Anaheim IT Provider

Irvine-based IT provider Neudesic LLC has acquired Anaheim competitor Web4, which specializes in enterprise content management and human resources software.

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Anaheim Lighting Products Maker Sold

Anaheim-based lighting products maker Intense Lighting LLC has been acquired by Leviton Manufacturing Co., a Melville, N.Y.-based manufacturer of electrical wiring equipment.

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Autobytel Buys Competitor

Autobytel Inc. shares were up about 30% to a market value of $185 million after the Irvine-based automotive marketing company said it acquired Dealix Corp. from CDK Global Inc. in Hoffman Estates, Ill. for $25 million.

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Edwards Suspends Valve Study

Irvine-based Edwards Lifesciences Corp. said today that it is voluntarily halting enrollment in an early clinical trial for an experimental, less-invasive mitral heart valve.

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Biolase Names CEO

Irvine-based Biolase Inc. said today that Harold Flynn Jr. will become its new chief executive, effective July 13.

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Masimo's $467M Verdict Upheld

Irvine-based Masimo Corp. said today that a federal court in Delaware has upheld a $467 million jury verdict in its favor against a pair of Netherlands-based Royal Philips Electronics NV's units for patent infringement.

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Telogis Gets $25M Investment

Aliso Viejo-based Telogis Inc. has raised another $25 million in venture capital funding.

Meggitt Adds Hires in Irvine to Meet Growing Demand

Orders Up For Military, Aerospace Sensors

The Irvine operation of U.K.-based Meggitt Sensing Systems has been on a hiring push since consolidating its San Juan Capistrano and Londonderry, N.H., outfits less than two years ago.

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OC Auto Sales Up in April

Orange County auto dealers sold 14,888 vehicles in April, an 8.1% increase from the same period last year, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Tesla to Open Buena Park Location

Tesla Motors Inc. plans to open a showroom and a service center in Buena Park this summer, its second in Orange County.

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Glaukos Files for IPO

Laguna Hills-based Glaukos Corp. has filed plans to raise $86 million in an initial public offering.

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Hollywood & Sports Exec to Advise Laguna Beach VR Firm

Hollywood and sports executive and entrepreneur Peter Guber will chair the newly formed advisory committee for Laguna Beach-based virtual reality content provider NextVR.

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Clean Energy Shares Fall on Missed Targets

Shares of Clean Energy Fuels Corp. were down about 2% in midday trading Tuesday after the Newport Beach-based company reported first-quarter revenue and adjusted profits that missed Wall Street expectations.

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OC Dealers Among First to Sell Toyota Hydrogen Car

Toyota Motor Corp. selected two Orange County dealerships—Toyota of Orange and Tustin Toyota—to be among the first eight in the U.S. selling its new Mirai hydrogen vehicle.