OCBJ WEEKLY EDITION
Acacia Research Corp. will lend $20 million to Veritone Inc. in a deal that could be worth up to $50 million to Veritone, which is developing ways to search and analyze large amounts of audio and video content and other data.
Incipio LLC walked away from its bidding war with Mill Road Capital Management LLC, a private investment firm that made the winning offer for Skullcandy Inc. at $6.35 a share in cash, which valued the company at about $197 million.
Sensors, Already Popular With Amateurs, Move Up
World-class surfer and part-time San Clemente resident Jordy Smith is trying to level the playing field, not against the competition, but Mother Nature.
Records Integration One Of Series of Tech Changes
Irvine-based St. Joseph Health, one of the largest healthcare operators in Orange County, set out four years ago to establish a single electronic record for each patient who visits any of its 16 hospitals spread across California, Texas and New Mexico.
17 Biggest Down 756 Jobs To Just Under 4K Workers
Big job cuts at Broadcom Ltd. following its $37 billion sale in February to Singapore-based Avago Technologies Inc. and a string of divestitures fueled one of the steepest local employment drops in the chip sector in years.
Other items of interest Orange County Business Journal Vol. 39, No. 35
A.G. Kawamura, owner of Irvine-based Orange County Produce, and Tom Nassif, president and chief executive of Irvine-based Western Growers, were appointed to the agricultural advisory committee of Republican presidential nominee Donald Trump’s campaign, the Orange County Register reported.
14 High-End Transactions Close So Far This Month
Luxury home sales in the first three weeks of August continued the brisk pace set in June and July, with 14 transactions above $4 million closing in the first three weeks of the month.
Qidian Combines Tech With Personal Touch
A recently launched Irvine company uses technology in concert with a personal career counselor to help recent grads find jobs.
Dental Services Provider’s Founder, CFO Back to Firm
The buy of Smile Brands Inc. by OneSmile LLC in Laguna Hills a few weeks back brings new branding options to the dental practice manager in Irvine.
Superfan ‘Julie’ Lives, Breathes the Game
The Los Angeles Angels of Anaheim signed Amusement Park in June to create a campaign targeting “women and other groups typically outside the scope of MLB marketing,” and the Santa Ana-based agency this month delivered three TV ads featuring Julie—“mom, superfan, Mike Trout enthusiast!”
Aug. 29-Sept. 7, 2016; Sept. 22, 2016
This week's business and other event listings.
There is little land available across the board for industrial developments in Orange County.
Hard Drive Sales Sink To Five-Year Low at 40M
Western Digital Corp.’s hard drive sales have fallen to the lowest level since heavy monsoons and record floods shut down its Thailand manufacturing hub nearly five years ago.
Sales and leases of offices, industrial buildings, retail space and apartments
A multitenant industrial park in Santa Ana was sold for about $6 million, or $135 per square foot.
Colton Co. Paid $21.5M For Retail Property in 2000
Dallas-based retail property investor Dunhill Partners Inc. has bought a shopping center in Laguna Hills that caters to high-end design and home-furnishing tenants.
Creative Alternatives on Meetings Claim Spotlight
Balboa Bay Resort finally has a yacht.
PR Shop Thrives Amid Client Shakeups
This could have been a tough year for The Brand Amp.
REAL ESTATE: 262,000 SF for executive offices, direct sales center
Karma Automotive LLC will move the bulk of its local operations and establish a new direct sales center in a building in Irvine whose design is expected to echo the company’s cutting-edge technology.
REAL ESTATE: Values new center in Huntington Beach at $970 PSF
It took the Pacific City shopping center in Huntington Beach less than a year to claim a spot among Orange County’s most valuable retail properties.
Orange County hotels and resorts are nothing if not agile—always adapting and improving their goods and services. Hospitality providers here lately are building on OC’s reputation for attractive venues and entertaining presentations by crafting creative events (see story page 1) and targeting niche groups for meetings (see story page 18). Once groups get to a property, though, what do they do? What’s new on-site for them to try, enjoy or benefit from? Reporter Paul Hughes asked hotels, resorts and other venues about physical changes they’ve recently made at their properties, including those intended to tap a specific submarket of the meetings and convention business. Some facilities focused on food, fireworks or fitness, while others went with spa amenities or enhanced technology behind the scenes. Here are edited excerpts of their responses:
Industry Values Consistent, Flexible Source of Business
It’s the little things that count.
Count the Oct. 5-9 run of the Toshiba Classic at the Newport Beach Country Club as another aspect of Fountain Valley-based Kingston Technology’s role as a good sport and able marketer.
This list includes conventions, trade and consumer shows, and other happenings scheduled from Aug. 22 through July 31, 2017.
REAL ESTATE: Also grows within OC with Brea project
New Home Co. has bought land for its first homebuilding project in San Diego, and is also expanding its reach in Orange County through a new project at the La Floresta development in Brea.
HEALTHCARE: 3rd phase for La Palma-based enterprise
Innovation Institute LLC in La Palma plans to raise $150 million and take “meaningful” stakes in healthcare startups at “Series B and beyond” with investments in the $10 million to $12 million range.
A manufacturer in Irvine has won a nearly $97 million contract to supply weapon components to the U.S. Army.
Smile Brands Group Inc. in Irvine was acquired by private-equity firm Grpyhon Investors in San Francisco on undisclosed terms.
Twitch.tv, the world’s largest live-streaming site for gaming content, acquired Irvine-based Curse Inc., which creates content for gamers.
Shaheen Sadeghi of Costa Mesa-based LAB Holding LLC got the green light from Long Beach City Council to turn city-owned property in the north part of town into a “small-business friendly” retail center.
Alphaeon Corp. in Irvine named Murthy Simhambhatla president and chief executive to replace Robert Grant.
The Brand Amp Stays Atop List With 21% Increase
The majority of the biggest public relations firms in Orange County increased their staffing levels during the 12 months ended July 31, combining to more than double the Bureau of Labor Statistics’ projected 6% pace of national industry growth.
ECONOMY: Centerpiece of Sept. 19 Special Report
Is your company growing fast?
More than 500 “foodies” gathered at Montage Laguna Beach on May 15 for the city’s premier culinary event for a cause, Laguna Beach Taste of the Nation for No Kid Hungry.
Other items of interest Orange County Business Journal Vol. 39, No. 34
Sole Technology Inc. in Lake Forest appointed Esmail Mawjee interim president, a new position.
Aug. 23-31, 2016; Sept. 22, 2016
This week's business and other event listings.
Plans to Look at Raindrop Inlay for Post-Cataract Use
ReVision Optics Inc. in Lake Forest said study results on its Raindrop product showed “significantly improved near and immediate vision” in patients with presbyopia.
Envoy Creates National Ads That Trumpet IDOL 4
Smartphone maker Alcatel Onetouch, the Irvine-based unit of TCL Communication in China, which posts annual sales topping $5 billion, worked with Envoy to launch a new national campaign for its flagship device.