Orange County Business Journal

OCBJ WEEKLY EDITION

Acacia-Veritone Deal Could Hit $50M

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 Ends Skullcandy Pursuit

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.

Better Sense of Performance Now at Pros’ Fingertips

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.

St. Joseph Embraces Digital Change After Challenges

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.

Chipmakers, led by Broadcom, Cut OC Work Force 16%

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.

ADDENDUM

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.

Sales Stay Brisk as Summer Season Winds Down

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.

Recent Grad, Dad Start Millennial Job Counsel Service

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.

Smile Brands Acquisition Brings Branding Boost

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.

Amusement Park Helps Angels Crack Funny in Ads

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!”

OCBJ Calendar

Aug. 29-Sept. 7, 2016; Sept. 22, 2016

This week's business and other event listings.

Industrial Construction Slows in Q2 as Office Pipeline Fills

There is little land available across the board for industrial developments in Orange County.

Dwindling PC Sales Pull Down Western Digital Results

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.

Real Estate Deals

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.

Dallas Buyer Gets Laguna Design Center for $53.7M

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.

Will This Trend Float?

Creative Alternatives on Meetings Claim Spotlight

Balboa Bay Resort finally has a yacht.

Brand Amp Makes Its Breaks

PR Shop Thrives Amid Client Shakeups

This could have been a tough year for The Brand Amp.

Karma’s Road to Revival Starts in Spectrum

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.

Pacific City Sale Tops Chart For OC Retail

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.

Q&A

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:

Niche Groups Help Hotels Fill Up Events Bookings

Industry Values Consistent, Flexible Source of Business

It’s the little things that count.

Sports Report: Golf, Rodeo, Theater, Etc.

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.

EVENTS Calendar

This list includes conventions, trade and consumer shows, and other happenings scheduled from Aug. 22 through July 31, 2017.

New Home Co. Expands Into San Diego

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.

Innovation Institute Plans Fund for Startups

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.

$97M Army Contract to Irvine Manufacturer

A manufacturer in Irvine has won a nearly $97 million contract to supply weapon components to the U.S. Army.

Private-Equity Buyer for Smile Brands

Smile Brands Group Inc. in Irvine was acquired by private-equity firm Grpyhon Investors in San Francisco on undisclosed terms.

Gaming Content Maker Acquired

Twitch.tv, the world’s largest live-streaming site for gaming content, acquired Irvine-based Curse Inc., which creates content for gamers.

LAB Holding Plans LB Retail Center

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.

Ex-Abbott Exec Now Alphaeon Chief

Alphaeon Corp. in Irvine named Murthy Simhambhatla president and chief executive to replace Robert Grant.

PR Firms Up Staffing 14%, Outpacing US Estimate

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.

Fastest-Growing Private Companies Wanted for Annual List

ECONOMY: Centerpiece of Sept. 19 Special Report

Is your company growing fast? 

PHILANTHROPY

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. 

ADDENDUM

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.

OCBJ Calendar

Aug. 23-31, 2016; Sept. 22, 2016

This week's business and other event listings.

Good ReVision Study News Follows FDA OK for Gel

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.

Alcatel Dials Up Promotional Help From Irvine Shop

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.