Costa Mesa-based Secova Inc. said it landed $8 million in funding. The company, which recently combined with Costa Mesa-based UltraLink Inc., plans to use the money to grow its sales and marketing. Baring Private Equity Partners in India made the investment.
Irvine-based DynTek Inc. said it bought the Long Island, N.Y., unit of TekConnect Corp., a technology consulting company. Terms of the deal weren’t disclosed.
Irvine-based chip designer ClariPhy Communications Inc. said it opened a development center in Argentina near the National University in Cordoba.
Irvine drug maker Allergan Inc. said the Food and Drug Administration cleared Lumigan, its prescription eye drop, as a treatment for elevated intraocular pressure, an eye condition that’s associated with glaucoma or ocular hypertension.
Shares of Irvine-based Cortex Pharmaceuticals Inc. slumped after the company said its flagship drug fell short of expectations. Cortex said that a study testing CX717, its lead drug candidate for wakefulness, didn’t differ from a placebo. That was a different result than seen from previous tests.
Holliston, Mass.-based Harvard Bioscience Inc. said it completed its buy of assets of the microplate reader and washer product lines from Anthos Labtec Instruments GMBH, a unit of Fullerton-based Beckman Coulter Inc. Terms of the deal weren’t disclosed.
Santa Ana-based mortgage lender Stearns Lending Inc. said it’s finalizing a deal to lease about 23,000 square feet of Irvine office space being vacated by another lender, the Orange-based parent of Ameriquest Mortgage Co. Stearns plans to sublease space at Jamboree Center. A deal is awaiting final approval from landlord The Irvine Company. Stearns employs about 250 people in all in OC.
The Irvine Co. reportedly is set to pay about $400 million for 560 Mission St. in San Francisco, according to industry reports. The 31-story tower, known as the JP Morgan Chase building, is in the financial district. It would be the Newport Beach-based company’s first acquisition in San Francisco.
Costa Mesa-based Pacific Premier Bancorp said it applied to change from a federal thrift charter to a state commercial bank. The bank said it expects the change to be finished before the end of the year.
Anaheim’s Don Miguel Mexican Foods Inc. said it was moving food-making operations to Dallas. Don Miguel, which has 324 workers at the site, is moving after homebuilder Lennar Corp. bought land in the Platinum Triangle, including the Don Miguel site, which it’s redeveloping into homes, restaurants and retail space.
Irvine-based Freedom Communications Inc. said it’s paying $17 million for upstate New York TV station WCWN-TV in Albany from Chicago’s Tribune Co. The buy of the WB affiliate is Freedom’s first TV station buy in eight years. The company owns eight other TV stations. The Federal Communications Commission still needs to OK the transfer of WCWN’s broadcast licenses.
The Anaheim Ducks unveiled its revamped name, logo and jersey. The new colors: orange, metallic gold, black and white. The National Hockey League franchise dropped the “Mighty” from the team name. That was a product of original owner Walt Disney Co., which launched the team after its 1993 movie “The Mighty Ducks.” Henry and Susan Samueli bought the Ducks last year for a reported $60 million to $70 million.
Foothill Ranch-based Oakley Inc. said it was renaming almost all of its sunglass stores under one name, Sunglass Icon. Oakley, which has about 110 sunglass stores, has six retail chains, Occhiali da Sole, Optica, Sporting Eyes, Sunglass Club, Sunglass Designs and Sunglass Icon. Its two Optica stores won’t change names and will continue to be operated by its Optical Shop of Aspen unit.
Santa Ana-based Corinthian Colleges Inc. said its Florida Metropolitan University Inc. received a subpoena from the Florida Attorney General’s office for records relating to its advertising and marketing practices for the past four years. Corinthian said it’s cooperating with the request.
ECONOMIC INDICATORS
Mixed: Orange County’s housing market in May, with the median price of a home sold hitting a record $635,000, up 8% from a year earlier, but the number of homes sold down 32% to 3,113, versus a year ago, according to La Jolla-based market tracker DataQuick Information Systems.
