TOP STORIES
Broadcom Corp., Irvine, said it will acquire ServerWorks Corp., Santa Clara, for 11 million shares plus up to 9 million additional shares based on future performance (Broadcom was trading around 90 last week, giving the deal a potential value of more than $1.6 billion); Broadcom also completed its acquisition of Israel-based VisionTech Ltd. for $693 million Fidelity National Financial Inc., Irvine, will acquire International Data Management Corp., Los Angeles Bergen Brunswig Corp., Orange, received two Defense Department supply contracts with a total value of about $300 million A unit of Japan-based Kyocera Corp. said it plans to acquire Tycom Corp., Irvine Nexell Therapeutics Inc., Irvine, will sell up to $25 million in shares over the next 22 months to Acqua Wellington North American Equities Fund Ltd. Supervisors named Gary Simon to lead the county’s El Toro planning Arlington, Va.-based AES Corp. applied to the state Energy Commission to refurbish and restart units 3 and 4 at its Huntington Beach electrical generating plant; the units were closed in 1995.
TECHNOLOGY
Telenetics Corp., Lake Forest, signed a deal to have Tustin-based Comtel Electronics Inc., produce data-transmission products licensed from Motorola Inc. McKinsey & Co. leased space in the University Research Park in Irvine and will employ about 75 people there I-exposure Inc., Irvine, signed a one-year licensing deal with The Jim Henson Co. to make Muppet-themed software Simple Technology Inc., Santa Ana, agreed to pay $1.8 million to Global Technologies Ltd. and other parties to settle lawsuits alleging breach of contract and warranty Long Beach-based Sea Launch Co. aborted the mid-Pacific launch of a broadcast satellite for XM Satellite Radio Inc., Washington, D.C., 30 seconds before the planned liftoff Aspeon Inc., Irvine, said it will appeal its delisting by Nasdaq Cyberbuck Corp., Santa Ana, filed for bankruptcy liquidation.
GOVERNMENT
Cynthia Coad was elected chairman of the Board of Supervisors and Jim Silva was elected vice chairman in the board’s annual reorganization Irvine Councilman Mike Ward was elected chairman of the OC Transportation Authority and Supervisor Todd Spitzer was elected vice chairman C. Dean McGrath, chief of staff for Rep. Chris Cox, R-Newport Beach, was named deputy chief of staff to vice president-elect Dick Cheney A San Bernardino Superior Court judge refused to dismiss a lawsuit that alleges the 91 Express Lanes were built illegally Trustees of the South Orange County Community College District agreed to pay $36,000 in legal fees incurred by Irvine Valley College president Raghu Mathur in a failed suit he filed as an individual against two colleagues Gov. Gray Davis appointed RBF Consulting senior VP F.M. Ameri to the state Regional Water Quality Control Board, Santa Ana region UCI political science professor Mark Petracca and former councilwoman Mary Ann Gaido were appointed to the Irvine Planning Commission Supervisors replaced El Toro airport opponent Charles Zoffer with pro-airport Tom Naughton on the Airport Land Use Commission, which reviews development plans near airports.
HEALTHCARE
Cardiac Science Inc., Irvine, offered to acquire Sweden-based Aterma Medical AB for $20 million; meanwhile, Cardiac Science withdrew its offer for the outstanding shares of Spacelabs Medical Inc., Redmond, Wash., and received a patent on technology for smaller defibrillator connectors that attach to patients’ chests For Health Inc., Costa Mesa, was acquired by Geriatrix, San Diego, for $7.4 million (see report on page 55) ICN Pharmaceuticals Inc., Costa Mesa, acquired the Eastern European marketing rights to two nonsteroidal anti-inflammatory drugs from an affiliate of F. Hoffman-La Roche Ltd. Endocare Inc., Irvine, and New Jersey-based Cryomedical Sciences Inc. settled a patent infringement dispute; the two firms will cross-license some of each other’s technologies Bankrupt Irvine-based Premier Laser Systems Inc.’s deal to be acquired by ProLaser Ltd. of Germany has fallen through and the company said it is seeking another buyer Peregrine Pharmaceuticals Inc., Tustin, reported favorable clinical results for its anti-brain tumor drug candidate The Interstate Pharmacy Corp. unit of Orange-based Bergen Brunswig Corp. agreed to pay $4 million to settle charges in Hawaii that it illegally recycled unused pills from nursing homes aand overbilled Medicaid.
REAL ESTATE
SBC Services, San Antonio, signed a 10-year, $27 million lease for 150,000 square feet of space in Irvine for a data center Orlando, Fla.-based Fairfield Communities Inc. acquired from Winner’s Circle Resorts International Inc. the 136-unit Dolphin’s Cove Resort in Anaheim and the rights to develop an additional Southern California resort with 150 units at an oceanfront location Western Pacific Housing plans to build 45 homes on the 5.5-acre New Saigon Mall site in Westminster Part of the roof of the Sares-Regis Group’s Irvine headquarters collapsed under the weight of pooled rainwater and caused an estimated $100,000 in damage.
FINANCE
LoansDirect.com, Huntington Beach, was acquired by E*Trade Group Inc. Experian, Orange, acquired Paladian Enterprises, Boulder, Colo. A unit of First American Corp., Santa Ana, acquired New Jersey-based Pretiem Corp. Brad A. Morrice, vice chairman and president of Irvine-based New Century Financial Corp., was named to the additional post of COO Brentwood Associates partner G. Bradford Jones reported an 8.4% stake in Onyx Acceptance Corp., Foothill Ranch, of which he is a director Ventura-based Affinity Bank will acquired the Irvine branch of Tustin-based First Plus Bank Paul A. McCulley was named managing director of the Pacific Investment Management unit of PIMCO, Newport Beach There were 139 bank robberies in OC in 2000, the same number as in 1999, the FBI said.
WHAT’S NEW
Herbert Zarkin, chairman aand CEO of Irvine-based HomeBase Inc., acquired 1 million shares of the company in December and other firm executives bought an additional 190,000 shares Nelson J. Marchioli, CEO of Irvine-based El Pollo Loco, was named CEO of South Carolina-based Advantica Restaurant Group; meanwhile, Advantica, parent of the Irvine-based Coco’s and Carrow’s restaurant chains, was delisted by Nasdaq for failing to maintain its minimum price Timothy E. Kelly resigned as president of Costa Mesa-based Tickets.com Inc. to rejoin Spring Corp. as president of consumer services; Tickets.com will not replace Kelly, whose duties will be divided among three division presidents Krause’s Furniture Inc., Brea, will launch wholesale and retail Web sites Kawasaki Motors Corp. USA, Irvine, recalled 18,000 motorcycles to repair a rear-brake defect The OC Performing Arts Center will use a $100,000 donation from American Express to upgrade its Web site The National Endowment for the Arts granted $32,000 to South Coast Repertory, Costa Mesa, and $10,000 to the Pacific Chorale, Santa Ana.
