FINANCE

Restaurant365 Raises $88 Million

Irvine-based Restaurant365, a cloud-based restaurant accounting software, said it’s closed an $88 million minority investment led by ICONIQ Capital, a Silicon Valley-based growth equity firm.

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Mechanics Bank to Have 2 CEOs

Mechanics Bank (OTCBB: MCHB) announced it will have two chief executives after its acquisition of Rabobank, N.A., a subsidiary of Rabobank Group.

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Allergan Being Sold for $63B

Chicago-based AbbVie Inc. has agreed to buy fellow pharmaceutical giant Allergan Plc for nearly $63 billion in cash and stock.

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Yogurtland Expands in SE Asia

Yogurtland signed a multiunit deal with a franchisee to enter Indonesia; the frozen dessert chain already has locations in the region in Australia, Myanmar, Singapore and Thailand.

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Allied Universal Buys SF Security Firm

Santa Ana’s Allied Universal, the biggest private security firm in the U.S., today said it acquired a San Francisco-based firm with more than $40 million in annual sales and 1,300 employees.

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OC Unemployment Falls to 2.4%

Orange County’s unadjusted jobless rate fell to 2.4% in May from a revised 2.6% in April and below the year-ago estimate of 2.5%, according to the state Employment Development Department.

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China-U.S. Dispute Could Cost 43,000 California Jobs, Chapman Says

California could lose 43,000 jobs this year alone because of the U.S. trade war with China, the latest economic forecast from Chapman University estimates.

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Roth Scores TD With NFL QB Rodgers

FINANCE: Raises $50M for venture capital fund

Byron Roth’s new venture co-founded with Green Bay Packers superstar quarterback Aaron Rodgers has closed its initial investment fund after raising $50 million.

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Demand for Apartment Development Remains Strong

Over 5,000 Units Underway in OC

If there’s an end in sight to Orange County’s apartment construction boom, no one told the developers.

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OC LEADER BOARD

OC Can Learn From Austin’s Venture Capital

Orange County has a big problem—if not the biggest—we are not creating enough high-paying jobs to enable more people to afford our soaring housing costs.

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Samueli Family’s Latest Gift: $100M to UCLA

EDUCATION: Largest gift to namesake school

Henry and Susan Samueli last week continued their commitment to funding the region’s next generation of engineers and innovators.

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SteelWave’s Two Buys Include Tricon’s New Home

REAL ESTATE: Next-door deals in Tustin; $49M

SteelWave LLC, the Foster City-based real estate investor currently heading the development of The Press creative office project in Costa Mesa, has added a pair of large buildings in Tustin—including one of the city’s recently rebuilt creative office properties—to its area portfolio.

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Avid Aims for Rebound After CEO Departure

New Analyst Sets $5 Price Target

Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO), a pharmaceutical contract manufacturer that’s seen its share of change the past year, might be returning to the light as its stock gains traction, and the attention of a new analyst.

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Cryoport’s Hot on Acquisitions

$20.5M Cash Buy of Cryogene

Cryoport Inc. (Nasdaq: CYRX), a provider of cold-chain logistics services for the biopharmaceutical industry, is a hot stock.

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Applied Innovation Showcases Advances, Entrepreneurs

Event Follows New Beall Family Donation

Elliot Botvinick, Ph.D., a University of California-Irvine professor who is involved in two startups, took home the prize of Entrepreneurial Leader of the Year at UCI’s Applied Innovation’s second annual award ceremony on May 29.

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Green Street Advisors Sold

Deal Will Support Growth At NB Firm, CEO Says

Newport Beach real estate data and analytics firm Green Street Advisors LLC is being sold to a New York private equity firm on undisclosed terms.

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PIMCO Eyes Deals Across the Pond

$76M for Troubled Retail Assets in UK

Pacific Investment Management Co.’s planned $1 billion initial public offering for a new real estate investment trust has been postponed for nearly a month without word on a potential reboot, but the Newport Beach investment giant is still keeping a close eye on real estate opportunities.

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More Microsemi Ties for Lantronix

Goren Joins Networking Company as Legal VP

David Goren, a member of the management team that pushed Microsemi Corp.’s revenue up to $2 billion prior to its sale last year, and a confidant of that company’s former chief executive, has rejoined former colleague Paul Pickle, in a senior role at Irvine-based networking products maker Lantronix Inc. (Nasdaq: LTRX).

PHILANTHROPY

Susan G. Komen Orange County held its annual Pink Tie Ball on May 11 at City National Grove of Anaheim.

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Staar Surgical Has Eyes on 20% Growth

HEALTHCARE: Hiring for new Lake Forest HQ

It has been more than 30 years since ophthalmic device maker Staar Surgical Co. (Nasdaq: STAA) developed its first implantable lens to treat vision issues.

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$54M South Coast Metro Office Sale Tops for Year

REAL ESTATE: Ocean West, Angelo Gordon buy

A nine-story office in the South Coast Metro area of Santa Ana has sold for $54 million, in the highest-priced investment sale in Orange County reported to date.

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Samuelis Give $100M+ to UCLA

Henry and Susan Samueli have given more than $100 million to their namesake school of engineering—the school’s biggest donation ever—at University of California-Los Angeles.

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Trace3 Sales Surge Post-Midwest Merger

TECHNOLOGY: $1.2B sales beats prior projection

A blockbuster merger with a Midwest competitor last summer has gone faster and better than expected, according to Irvine-based IT services provider and consulting firm Trace3 Inc.

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Tilly’s Feels Results of May Gray

APPAREL: Shares on downswing after Q1 report

Tilly’s Inc. (NYSE: TLYS) is feeling California’s recent record-breaking cold front.

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The Business Journal Adds 2 Reporters

Costelloe, Corbett Covering Tech, Healthcare

Kevin Costelloe and Alexa Corbett have joined the Orange County Business Journal as reporters.

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