FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

William Lyon Sold; $2.4 Billion Deal

HOMEBUILDERS: Combined company fifth-largest in USNext year will mark the end of an era for William Lyon Homes, one of Orange County’s iconic homebuilders.

Axonics in $101M Offering

Axonics Modulation Technologies Inc. (Nasdaq: AXNX) in Irvine priced 5 million shares of common stock at $22 a share.

Santa Ana’s Allied Universal, the largest private security firm in North America, bought Vinson Guard Service, a New Orleans-based guard services firm in the southeastern United States, the two companies said today.

Starboard Takes Acacia Stake

Patent licenser Acacia Research Corp. (Nasdaq: ACTG) in Newport Beach said it will get up to $400 million under an agreement with New York-based investment adviser Starboard Value LP.

Salas O’Brien Buys Again

Santa Ana engineering firm Salas O’Brien bought RMS Engineers in Richardson, Texas, on undisclosed terms. RMS does heavy industrial consulting in Texas for chemical; oil and gas; paper and pulp; and mining companies.

OC Unemployment Up Slightly

Orange County’s unadjusted jobless rate rose to 2.5% in October, up from a revised 2.4% in September and below the year-ago estimate of 2.8%, according to the state Employment Development Department.

New CFO at Ingram Micro

Mike Zilis, who’s led much of Ingram Micro Inc.’s international strategy and operations, has been named chief financial officer of the Irvine-based wholesale tech distributor, succeeding Gina Mastantuono effective Jan. 1.

Clearview Sells Hawaii Hotel

Clearview Partners in Newport Beach sold a nearly 600-room Holiday Inn Express in Waikiki for $205 million.

Mission Critical Buys Again

Huntington Beach-based Mission Critical Electronics bought Purkeys Fleet Electric in Arkansas.

Guest Spending Boosts Disneyland

Strong visitor spending at Disneyland Resort offset expenses and lower attendance at the Anaheim park during its parent company’s fourth quarter.

NextGen Buying Patient Platform

Irvine-based NextGen will buy North Carolina-based Medfusion Inc. for $43 million in cash.

Trumark Adds Commercial

Newport Beach-based homebuilder Trumark Cos. will develop office, multifamily and mixed-use projects under a new division.

Allied Universal Buys Tech Integrator

Santa Ana’s Allied Universal, the largest private security firm in North America, has acquired Advent Systems Inc. to expand its technology offerings. Terms weren’t disclosed.

Trade Food Hall Sells

Trade Food Hall in Irvine sold for $31 million.

Veritone Revenue Up 70%

Veritone Inc. (Nasdaq: VERI) in Costa Mesa, a provider of artificial intelligence technology, said third quarter revenue rose 70% year-over-year to $12.8 million while its net loss narrowed to $14.2 million from $15.9 million.

William Lyon Homes: $2.4B

Taylor Morrison Home Corp. (NYSE: TMHC) has agreed to buy William Lyon Homes (NYSE: WLH) for cash and stock worth $2.4 billion, creating the fifth-largest U.S. home builder and developer firm.

Iteris Hit By Earnings Miss

Shares in vehicle detection and traffic control company Iteris Inc. (Nasdaq: ITI) plunged as much as 11% after its second-quarter loss was greater than analysts’ estimates.

Simons Give Chapman $9M

Chapman University received a $9 million commitment from the Simon Foundations during its annual Chapman Celebrates gala on November 2.

Beauty M&A Continues: Benchmark to KDC/ONE

Irvine beauty formulations firm Benchmark Cosmetic Laboratories has traded hands.

Pace Over Price for New Home Co.

Aliso Viejo homebuilder New Home Co. (NYSE: NWHM) is following through on its plan to focus on sales volume over price, shifting its home prices downward to capture growing demand for affordable housing.

Carrick Exits 3 Cos.

Newport Beach-based Carrick Capital Partners, an investment firm focused on software firms, said it sold three portfolio companies, its first such divestiture.

Viant Co-Founders Buy Back Stake

Viant Technology LLC, an Irvine-based advertising technology company, said it completed a company buyout and that co-founders Tim and Chris Vanderhook have regained control of the firm from Des Moines-based Meredith Corp.