Other items of interest Orange County Business Journal
ADVERTISING
Costa Mesa-based advertising agency Casanova Pendrill successfully defended its position as agency of record for the California State Lottery’s Hispanic advertising account, winning a five-year contract valued at $75 million in billings, counting a two-year option for the state to extend the deal. Casanova has handled the account for the last 20 years.
FINANCE
Irvine-based accounting firms White, Nelson & Co. and Diehl, Evans & Co. agreed to merge. The combined firm will be called White Nelson Diehl Evans LLP. It will operate from the White Nelson headquarters in Irvine starting in December, with more than 125 workers. Dave Doran, now managing partner of White Nelson, will head up the combined firm.
HEALTHCARE
A cataract drug being developed by Irvine-based Ista Pharmaceuticals Inc. met the main goal of two late-stage clinical trials, but its dry-eye drug missed on a second late-stage trial. Ista’s Prolensa, a drug for inflammation and pain in patients who have undergone cataract surgery, showed that it was significantly better than a placebo and met its main goal of the absence of eye inflammation 14 days following surgery, the company said. The drug maker said its Remura for dry eyes failed to show statistically significant improvement in patients compared with a placebo. Ista said it “will complete a full analysis of the data, but focus our efforts on the potential use of (Remura) as an over-the-counter artificial tear product.”
REAL ESTATE
The City of Irvine might consider selling a 20-acre parcel of land to help pay for the ongoing development of the Great Park of Orange County, according to a report in the Orange County Register. The parcel at Alton and Barranca parkways is not part of the Great Park, which totals about 1,300 acres. The city has already spent or committed about $235 million to the park, with much of that going to a seven-acre lawn, arts plaza and other public features. It expects to get $40 million in fees for the development of 5,000 homes adjacent to park over the next five years, and anticipates about $20 million in public redevelopment money within a few years. A sale of the land at Alton and Barranca would require approval from city officials.
RETAIL
Los Angeles-based Assi Super, a grocery chain that specializes in Korean foodstuffs, will open a store in the Woodbridge section of Irvine. The Assi Natural Market will take space that used to be occupied by a Vons Pavilions.
TECHNOLOGY
Aliso Viejo-based Microsemi Corp. completed its $633 million buy of Canada-based chipmaker Zarlink Semiconductor Inc. The Zarlink buy puts Microsemi on a clear path to reaching its goal of $1 billion in annual revenue and joining the upper ranks of the mixed-signal chip market. The deal is Microsemi’s largest to date and provides the company inroads in the communications and medical markets—two key segments in its growth plan.
Irvine-based Full Circle Wireless Inc.—which resells and recycles used mobile phones, tablets and other devices—will be acquired by Clover Holdings Inc. in Hoffman Estates, Ill. Terms of the transaction, expected to close later this month, were undisclosed. Full Circle Wireless has about $6 million in annual revenue, according to executives. Clover is one of the largest recyclers of ink jet and toner cartridges, and provides other recycling services for small electronics. It has about $600 million in annual revenue, according to the company. Full Circle employs more than 50 people in Irvine. Clover Holdings employs more than 6,000 people worldwide.
OTHER NEWS
Public television personality Huell Howser is donating the archives of his popular California Gold show to Chapman University in Orange. The gift includes episodes of the show, which has run for 20 years and continues, along with various papers, memorabilia and about 1,800 books about California. Chapman plans to convert the material into digital files.
ECONOMIC INDICATOR
DOWN: The number of new-business filings in Orange County in September, according to the County Clerk-Recorder’s office. Last month saw 2,752 fictitious name statements, also known as DBAs, down 2.9% from August and 4.8% from a year earlier. DBA filings generally reflect growth in startups, although some are periodic renewals for existing businesses.
