Compiled by Mike Mason
Costa Mesa-based Netifice Commun-
ications Inc. said it raised $35 million in funding and is buying rival MegaPath Networks Inc. of Pleasanton. Terms of the buy, expected to close in April, weren’t disclosed. The companies sell gear that helps link corporate headquarters, regional offices, remote workers and retail outlets Irvine-based RiverOne Inc., a maker of supply chain software that’s raised $50 million in funding, has been acquired by Dallas-based rival i2 Technologies Inc. Terms of the deal weren’t disclosed. RiverOne counts estimated yearly sales of $35 million and about 150 workers.
Regulators have signed off on a less-restrictive label for Costa Mesa-based Valeant Pharmaceuticals International’s Parkinson’s disease drug. The new wording calls for less laboratory monitoring of patients using the drug. That could make doctors more comfortable prescribing Tasmar, which is used with levodopa-carbidopa, another Parkinson’s drug. Valeant paid Switzerland’s Roche Holdings AG $13 million in 2004 to attain the U.S. rights for Tasmar Allergan Inc. again extended its $3.2 billion buyout offer for Inamed Corp. for two more weeks after federal antitrust approval was delayed. The Irvine-based drug maker’s offer, which was set to close last week, now is expected to wrap up March 8. Santa Barbara-based Inamed makes breast implants, obesity treatments and face fillers Irvine drug maker Spectrum Pharmaceuticals Inc. said it signed a distribution deal and landed an investment from Par Pharmaceutical Cos. of New Jersey. Spectrum is set to get $10 million in milestone payments from Woodcliff Lake, N.J.-based Par for each generic drug Spectrum successfully develops. The deal also calls for Par to invest in Spectrum in the next two years.
Newport Beach-based Impac Mortgage Holdings Inc. said its net earnings available to shareholders fell to $22 million in the fourth quarter, versus $112 million a year earlier. Impac, a real estate investment trust that invests in mortgage loans, has been hit by rising short-term interest rates and less enthusiasm from Wall Street for its mortgage bonds. Impac said it combined its subprime mortgage operations with its non-conforming loan business. Impac also opened an office in Chicago to boost its Midwestern operations The Mission Viejo City Council approved a 144-townhome development on 23 acres at Los Alisos Boulevard and Jeronimo Road. The Aliso Ridge project is being developed by Steadfast Investment Properties and Target Corp., with Fieldstone Communities in Newport Beach set to build the homes.
St. Louis-based FireStream WorldWide Inc. said it plans to buy Newport Beach-based Symbology Systems Inc. for undisclosed terms. FireStream, which provides services to oil wholesalers and retailers, is expected to keep Symbology’s OC office with six workers. The deal is set to close in the next three weeks Irvine-based Oryxe Energy International Inc. has boosted its third round of venture funding to $27 million. Oryxe, which develops and distributes fuel additives, said funds from Washington, D.C.-based Paladin Capital Group raised its round of financing by another $9 million. Paladin invested via its homeland security fund. Other investors in the third round included Costa Mesa-based Odyssey Venture Partners and New Jersey’s Ridgewood Capital.
Irvine-based Commercial Capital Bancorp Inc. said bank regulators approved its buy of Calnet Business Bank NA for $40 million. The deal is expected to close during March … Santa Ana-based title insurer First American Corp. named a Lehman Brothers Holdings Inc. executive as its chief financial officer. First American named Frank McMahon, a managing director with Lehman Brothers, as financial chief and vice chairman. McMahon is set to join on March 31. First American’s former financial chief, Thomas Klemens, died last month of blood cancer Former Merrill Lynch & Co. chief economist Donald Straszheim joined Newport Beach-based Roth Capital Partners LLC as vice chairman. Straszheim joins Roth from Straszheim Global Advisors, a Los Angeles-based financial research firm he founded in 2002 with a strong focus on China. He said he expects to continue his focus on China at Roth.
The Santa Ana-Irvine-Anahiem area ranked No. 17 on the Milken Institute’s top U.S. metro areas for job creation last year. That’s up from No. 35 a year ago William Kogerman was elected to the Great Park board, which is overseeing redevelopment of the El Toro Marine base. The choice of Kogerman, who replaces Dick Sim, was criticized by some because he has ties to public relations firm Forde & Mollrich, which denied accusations that it overbilled the park board last year. Kogerman was a leader in the fight to defeat a commercial airport plan for the base.
Australia’s Billabong International Ltd. said sales grew about 16% to $363 million for the six months ended Dec. 31. Profit was up 15% to $59 million. The gains were spurred by Billabong’s Irvine-based unit, which runs operations in North and South America. Sales in the Americas rose 26% to $162 million in the period The Foothill/Eastern Transportation Corridor Agency voted to build the $875 million 16-mile extension of the Foothill (241) Toll Road through San Onofre State Beach. State officials and environmentalists vowed to fight the plan, which would connect Rancho Santa Margarita to San Clemente.
