TOP STORIES
Broadcom Corp., Irvine, acquired Silicon Spice, Mountain View, for $1.2 billion … Arrow Electronics Inc., Melville, N.Y., one of three companies acquiring Germany-based VEBA Electronics, will buy VEBA unit Irvine-based Wyle Electronics for $840 million … The 563-unit Toscana Apartments in Irvine was sold by Prudential Realty Group to an unnamed buyer; the price was not disclosed but Prudential reportedly had been asking about $90 million (see related story, page 3) … Supervisors voted to put on the November ballot a proposition to mandate spending 40% of the county’s share of the national tobacco settlement on paying off the debt from OC’s 1994 bankruptcy; it will compete with Measure H, an initiative that would require 80% of the funds to be spent on healthcare programs … Henry T. Segerstrom married psychologist and author Elizabeth Macavoy in New York.
TECHNOLOGY
CAM Commerce Solutions, Fountain Valley, acquired New Jersey-based MicroBiz Inc. … Roy Slavin stepped down as chief executive of Wonderware Corp., Irvine, as parent PLC integrates the software maker with recently acquired Baan Co. Tyco Electronics will close its 300-employee Irvine factory … Shares of Costa Mesa-based Emulex Corp. rose 43% to around 67 after the company posted better-than-expected fiscal fourth-quarter and year-end results (see Earnings on page 17) … MTI Technology Corp., Anaheim, whose shares have plummeted since March, was hit with a shareholder lawsuit Dense-Pac Microsystems Inc., Garden Grove, warned its second-quarter results will be hurt by a shortage of some types of chips; its shares fell 30% to 6 5/8 on the announcement … Pen Interconnect Inc., Irvine, will merge with perFORMplace, based in New York and Santa Monica, pending shareholder approval; Pen president and CEO Stephen Fryer will be chairman of the combined entity and perFORMplace CEO T.A. Mercurio will retain that title … Sync Research Inc., Irvine, and Santa Monica-based Osicom Technologies Inc. revised a merger agreement to give Osicom a majority stake in Sync … EMachines Inc., Irvine, signed a distribution deal with British retailer Dixon’s … Thomson-CSF’s Irvine-based Sextant In-Flight Systems unit will help market Primex Aerospace Co.’s high-speed electronic systems for airline passengers … The Pennsylvania Department of Transportation contracted with FileNET Corp., Costa Mesa, to use its Panagon software to make highway construction documents available to contractors online … Natural Wonders Inc. will stop carrying Irvine-based Meade Instruments Corp.’s products in its stores … Datum Inc., Irvine, said it will move some units from its San Jose facility to its Beverly, Mass., facility and to its Irvine headquarters, consolidating operations and trimming about 20 jobs … William J. Kettle resigned as chairman and CEO of Irvine-based LMKI and A. Maria Kettle resigned as vice president; the company named President Bryan L. Turbow interim CEO and recently elected independent director Barry Hall chairman … California Software Corp., Irvine, said it will restate its results for 1999 and the first quarter of this year; the company also promoted vice president Carol Conway to president … An employee of Powerwave Technologies Inc., Irvine, inadvertently shot himself to death while trying to shoot another employee in the company’s parking lot.
GOVERNMENT
Rep. Loretta Sanchez said she is willing to move her upcoming fund-raiser from the Playboy mansion after fellow Democrats blasted the planned gala and threatened to pull her from the list of speakers at this week’s Democratic National Convention Superior Court Judge Tam Nomoto Schumann ordered an initiative removed from the San Clemente ballot that would have required an extension of Avenida La Pata before the Talega master-planned community and other housing could be developed … Huntington Beach City Attorney Gail Hutton told the city’s Conference and Visitors Bureau that it must terminate its contract with Mayor Dave Garofalo to publish the bureau’s visitors guide or lose its city funding, because of conflict-of-interest rules … An Assembly environmental committee killed a bill by state Sen. Tom Hayden that would have prohibited building a section of the proposed 16-mile Foothill South (261) Toll Road through San Onofre State Park.
REAL ESTATE
After agreeing to environmental measures, The Irvine Company won approval from the California Coastal Commission to grade and lay sewer lines on 681 acres in Newport Coast in preparation for building more than 600 homes; the company still needs approval from the county and the commission’s OK before building homes Brea residents will vote in November on an initiative aimed at giving them more of a say over development in the city’s hillsides California Coastal Communities Inc., Irvine, said the California Coastal Commission has postponed a hearing on its Warner Mesa project at Bolsa Chica from October until November.
WHAT’S NEW
Gotcha Glacier LLC asked Anaheim for a three-month extension of their development agreement for the company’s proposed indoor extreme-sports complex, to secure financing for the $130 million project … Keith Cos., Costa Mesa, agreed to buy Crosby Mead Benton & Associates, Santa Ana Ista Pharmaceuticals Inc., Irvine, scaled back the amount it hopes to raise in an IPO from $57 million to $35 million McDonald’s Corp. submitted a plan to buy 55 Boston Market stores in Southern California from bankrupt Anaheim-based Boston West LLC, a franchisee … El Pollo Loco, Irvine, said it plans to open 100 new restaurants over the next five years at a cost of $130 million … CKE Restaurants Inc., Anaheim, sold 48 Hardee’s units to Doro Inc., Eau Claire, Wis., for $13.5 million … Travcoa, Newport Beach, was acquired by Grand Expeditions Inc., Boca Raton, Fla. … Freedom Communications Inc., Irvine, named OC Register president and COO Ron Redfern vice president of its interactive media division … Lumenyte International Corp., Irvine, emerged from Chapter 11 bankruptcy … Sysco Newport Meat Co., Irvine, said a strike by Teamsters Union drivers had ended and contract talks are under way.
