Orange County Business Journal

WD Stake Pushes OC-China Ties to New Level

TECHNOLOGY: $3.8B deal catches Wall Street by surprise

China continued to make waves in Orange County last week with a $3.8 billion deal that will give Unisplendour Corp. Ltd. a 15% stake in Irvine-based Western Digital Corp.

Wang’s Way

Business Failure Led Vizio Co-founder to ‘Innovate Myself Out of This Situation’

William Wang owes as much to his failures as his successes.

Rare Investment Method Behind MTAB Acquisition

Search Fund Acquires Local Software Maker

Poplar Capital Partners LLC’s recent buy of Yorba Linda-based business software maker mTAB LLC was backed through a rarely used investment mechanism: a search fund.

Morris in Motion

Telogis Hooks Up With AT&T on Software for Automakers

Telogis Inc.’s new deal with AT&T Inc. marks another significant turn for the Aliso Viejo-based logistics software maker under the leadership of co-founder Newth Morris.

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TTM to Shutter 3 Plants

TTM Technologies Inc. will shutter three manufacturing plants and lay off 550 workers as part of a global integration plan following its $927 million June acquisition of Viasystems Group Inc., the Costa Mesa-based printed circuit maker announced today.

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NextVR to Stream Democratic Debate

Laguna Beach-based startup NextVR will stream the Democratic presidential debate next month in Las Vegas on CNN, adding to its list of firsts in the developing virtual reality segment.

Santa Ana Software Maker Names CEO

Technology industry veteran Joe Bergera was named chief executive of Iteris Inc., a Santa Ana-based data provider and traffic management software maker.

Out of Ordinary for Newport Beach: Factory Upgrade

TECHNOLOGY: Chipmaker to put $15M or more into plant on Jamboree

Israel-based Tower Semiconductor Ltd. is investing $15 million to $20 million to upgrade its Newport Beach manufacturing plant to meet growing demand for new generations of chips for smartphones and other wireless devices.

Microsemi Aboard NASA Spacecraft for Pluto Mission

Space Unit Targets Niches In Mission-Critical Work

Aliso Viejo-based chipmaker Microsemi Corp. has supplied several key components on NASA’s New Horizons spacecraft, which was sent in part to study Pluto in a mission launched nearly a decade ago from Cape Canaveral Air Force Station in Florida.

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Iteris Names New CEO

Technology industry veteran Joe Bergera has been named chief executive of Iteris Inc., the Santa Ana-based data provider and traffic management software maker said this morning.

Irvine Battery Maker Raises $30M

Irvine-based startup Enevate Corp. has raised $30 million in a Series B funding round and has plans to start production of its lithium batteries.

Hiring Push for Cloud Software Startup in Aliso Viejo

Company Looks to Nearly Double Work Force to 90

Aliso Viejo-based startup Verismic Software Inc. is on a hiring push as more companies look to offload IT management services via the cloud.

Ingram Opts for ‘Diverse, Interconnected’ Software

TECHNOLOGY: Distribution giant abandons general overhaul

Ingram Micro Inc. has scrapped a global software overhaul launched seven years ago in an effort to improve flexibility as the distribution giant’s business model evolves.

E-Commerce, Cloud Fuel Seta’s Skyrocket Designation Opens More Doors

A big push into e-commerce and a partnership with the world’s largest online retailer has helped Irvine-based Seta International’s top line skyrocket in the past few years.

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Irvine Battery Maker Raises $30M

Irvine-based startup Enevate Corp. has raised $30 million in a Series B funding round has plans to start production of its lithium batteries.

Energy Equipment Company Refocuses on Licenses

Changes Lead Ener-Core To Quit Manufacturing

Irvine-based Ener-Core Inc. has signed its first large-scale commercial order after some missteps, management changes and a company split.

Vizio Puts $50M Into Potential of Big Data

TECHNOLOGY: Completes buy of SF-based software firm

Vizio Inc. has acquired full ownership of a technology that enables smart TVs to capture, record and disseminate data on the viewing habits of its customers.

Western Digital Execs Have History of Restructurings

Milligan Reshaped HGST, Leonetti Same at Amgen

The track record of Chief Executive Steve Milligan and Chief Financial Officer Olivier Leonetti might have foreshadowed Irvine-based Western Digital Corp.’s extensive job cuts in recent years.

Gamer on Cloud 9 as He Rides Lucrative Whirlwind

Players Do What They Love for Big Cash, Fame

Sean Gares is getting ready to leave his Tustin apartment to catch a 2 p.m. flight out of LAX to Germany.

South Korea-Based Game Maker Sets Sight on West

TECHNOLOGY: NCSOFT hires 100 in Aliso Viejo

South Korea-based video gaming giant NCSOFT Corp. is pouring big money into expanding its Aliso Viejo operations in a global effort to bring a roster of popular role-playing fantasy games to the West under a new business model.

OC Companies Play Key Role as ESports Grow Up

Much of Play Devoted To Blizzard’s Game Fare

Irvine-based Blizzard Entertainment Inc. and Kingston Technology Inc. in Fountain Valley are at the forefront of one of the hottest trends in the technology industry that’s attracting stadium-size crowds to venues across the globe and millions of online viewers.

Incubator Move to OC to Boost Startup Aid Network

Cie Digital Aims For Up To 4 Launches Per Year

Cie Digital Labs’ recent move from Long Beach to Irvine could boost OC’s developing ecosystem of incubators, a mix of real-estate-driven plays, public and private partnerships, and co-working spaces.

Western Digital Cuts More OC Jobs

Western Digital Corp. eliminated 81 positions from its Irvine headquarters in its second round of layoffs in the past three months.

Electronics Makers See Flat Employment Pace

18 Biggest Companies Add Just Nine Employees

Employment at the county’s largest contract electronics makers was flat over the past 12 months, despite steady sales growth in the industry worldwide.

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Job Cuts at WD

Western Digital Corp. has cut 81 positions at its Irvine headquarters, slightly more than 4% of its local employment base, the company confirmed to the Business Journal.

New Owner, Address for Westinghouse TV Brand

MARKETING: China-based company gets license from CBS

Flat TV designer and marketer Westinghouse Digital LLC has relocated its headquarters from Orange to the eastern edge of Los Angeles County and changed its name, the company confirmed to the Business Journal.

Regulatory Step Brings Broadcom Sale Closer to Reality

Clears Antitrust Waiting Period, Close Set for Q1

Irvine-based Broadcom Corp.’s pending $37 billion sale to Avago Technologies Ltd. in Singapore has passed one of the first regulatory hurdles.

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QLogic Makes Leadership Changes

QLogic Corp. this morning announced that two women will take the top management posts of the Aliso Viejo-based-based networking equipment maker.

Telecom’s Job Cuts Pull Down Local Industry By 6%

Verizon Trims 1,000 in OC, Leads to 2nd Drop in a Row

A companywide restructuring fueled the second straight year of significant job losses among Orange County’s largest telecommunications companies.

Blizzard Gains Sales Through Its Free-to-Play Games

Revenue Up 13%, WoW Subscribers Down

Blizzard Entertainment Inc.’s evolving business model into free-to-play games has helped the Irvine-based video game maker offset the lowest subscription count for its flagship World of Warcraft franchise in more than decade.

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Ultra Mobile Tops Inc. 5000

Costa Mesa startup Ultra Mobile has zoomed to the top of the list of the 5000 fastest growing private companies in the U.S., according to Inc. Magazine.

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WD Names New Chairman

Former Western Digital Corp. Chairman and Chief Executive Matthew Massengill will regain the top board seat following the retirement of Tom Pardun later this year, the Irvine-based storage products maker announced.

Auto Hackers Could Drive New Microsemi Line

TECHNOLOGY: Chipmaker bills 2 offerings as more secure

Aliso Viejo-based Microsemi Corp. has entered the auto market with two chip offerings as car manufacturers wrestle with mounting security concerns over data breaches and hacking attacks.

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Toshiba America Boss Adds Duties in NC

TECHNOLOGY: Takes on oversight, board seat for TGCS

Scott Maccabe will oversee a big strategic shift that aims to leverage two of Toshiba Tec Corp.’s largest U.S. business units under a new leadership role.

More of Vizio’s Ownership Revealed in IPO Filings

Minority Owner Details; Founder Wang Has 54.7%

Regulatory filings from Vizio Inc.’s planned initial public offering uncovered several unknowns behind the Irvine-based consumer electronics brand.

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Clean Energy Misses Q2 Targets

Newport Beach-based Clean Energy Fuels Corp. reported revenue and adjusted profits in the second quarter that missed Wall Street expectations.

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Newport Corp. to Cut Jobs

Newport Corp. will lay off workers and take other cost cutting measures, the Irvine-based company announced at the close of intraday trading Tuesday, after missing revenue and profit targets for the June quarter.

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Toshiba Exec Adds Role

Scott Maccabe, the president and chief executive of Irvine-based Toshiba America Business Solutions Inc., has taken on the same dual role for Toshiba Global Commerce Solutions Inc., which makes installed retail point of sale systems.

Vizio’s IPO Plan Calls for Wang to Keep Control

MARKETING: Electronics brand aims to raise up to $172.5M

Vizio Inc. cofounder and Chief Executive William Wang will retain control of the brand under a plan to take the TV titan public.

Rumblings Could Live Up to Nicholas’ Ambitious Hopes

Talk Picks Up On Other Potential Bidders

Broadcom Corp. cofounder Henry Nicholas set his hopes high after the Irvine chipmaker announced a $37 billion sale in late May to Avago Technologies Ltd.

Security Software Specialist Raises $42M

Irvine-based security software maker Cylance Inc. raised $42 million in a Series C funding round led by DFJ Growth in Menlo Park.

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Ingram Micro’s Q2 Profit Beats

Santa Ana-based Ingram Micro Inc. saw shares rise about 10% in Friday trading after it reported slightly higher second-quarter adjusted profits yesterday that also beat analyst estimates, though revenue missed analyst forecasts.

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Broadcom Has Mixed Q2

Irvine-based chipmaker Broadcom Corp. after the close of intraday trading reported second-quarter revenue in line with Wall Street expectations and adjusted profits that missed estimates.

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YL Software Maker Acquired

A Yorba Linda software maker that specializes in survey analysis has been acquired by local investment firm Poplar Capital Partners LLC, which is based in the same city.

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WD Beats on Profit, Revenue in Line

Irvine-based storage products maker Western Digital Corp. after the close of intraday trading Wednesday reported June revenue in line with Wall Street expectations and adjusted profits that beat estimates.

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Cylance Gets $42M

Irvine-based security software maker Cylance Inc. has raised $42 million in a Series C funding round led by DFJ Growth in Menlo Park.

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Vizio Files for IPO

Irvine-based Vizio Inc. has filed a registration statement with the Securities and Exchange Commission to raise up to $172.5 million in an initial public offering.

NB Startup Runs Into ‘Hiccups’ With Kickstarter Try

Went Elsewhere After Backers Show Disapproval

A Newport Beach startup has drawn widespread publicity in tech circles for a Kickstarter campaign to bring the world’s smallest Bluetooth headset to market.

Auction Firm Gets Naismith Center Deal

Laguna Niguel-based SCP Auctions was named the official auction and appraisal partner of the Naismith Memorial Basketball Hall of Fame.

Sage North America HQ to Exit Irvine for Atlanta

TECHNOLOGY: Software maker recently consolidated here

Software maker Sage North America is moving its U.S. headquarters from Irvine to Atlanta as part of a global restructuring plan.


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