Aliso Viejo-based Quest Software Inc.’s long stock options ordeal finally has come to a close.
Federal regulators said they’ve settled their case against the maker of business software and are set to fine one current and two past executives named in a stock options backdating probe that stretched back two years.
The Securities and Exchange complaint al-leged former chief executive and current Chairman Vinny Smith, former vice president Kevin Brooks and former finance chief John Laskey backdated stock options from 1999 to 2002.
Under the terms of the settlement, the three are set to pay $300,000 in fines without admitting or denying wrongdoing.
The SEC found that Quest backdated 28 stock option grants involving more than 11 million shares, according to reports.
Last year Quest took charges to past earnings of about $137 million to account for backdated options. It was the second largest options restating bill locally, albeit a distant second to Irvine-based Broadcom Corp.’s $2.2 billion.
Quest makes software that improves on or helps manage other business programs from Oracle Corp., Microsoft Corp. and others.
GPS Position
Broadcom is gaining ground among makers of global positioning chips.
New York-based ABI Research, a technology market researcher, recently named Broadcom as the top supplier of GPS chips.
The company was trailed by No. 2 San Jose’s Sirf Technology Holdings Inc. and No. 3 Dallas-based Texas Instruments Inc.
Broadcom was boosted to the top spot after a wave of consolidation among GPS chipmakers.
Britain’s CSR PLC last month said it’s set to buy Sirf in an all-stock deal valued at about $136 million.
In 2007 Broadcom paid $226 million for San Jose’s Global Locate Inc., a privately held maker of GPS chips. Other local GPS chipmaker deals: Irvine startup u-Nav Microelectronics Inc. was bought by Santa Clara-based Atheros Communications Inc. for $54 million.
Newport Beach’s GloNav Inc. was bought by NXP Semiconductors, the former chip arm of Royal Philips Electronics NV, for $85 million.
“Recent consolidation within the GPS chipset sector has led to intensified competition among the remaining players,” said George Perros, senior analyst at ABI Research.
GPS and location-based services such as local search and driving directions are helping cell phone makers differentiate their offerings from competitors.
Others on the list included No. 4 Qualcomm Inc. of San Diego and No. 5 Switzerland’s STMicroelectronics NV.
ABI research ranked the chipmakers on a range of criteria including features, recent product introductions, manufacturing technology and other factors.
Last month Broadcom announced a chip that integrates GPS, Bluetooth networking and FM radio geared toward mobile devices.
Strategic Move
Irvine online video game startup True Games Interactive Inc. hired another executive from video game publisher K2 Network Inc.
True Games hired Dilek Ilboga, 28, to manage international business.
Ilboga will be responsible for building and managing all distribution and merchant relationships for True Games, with a focus on Eastern Europe and South America.
She had a similar post at Irvine’s K2 Network.
True Games was started last year by two former K2 employees, Jeff Lujan and Bob Drobish. Like K2 Network, True Games’ titles are built around a business model called “free-to-play micro transactions.” Players can download and play the game for free online and buy items along the way.
Ilboga hails from Turkey, where the micro transaction model in video games is gaining a foothold.
True Games is readying its first title, “Warrior Epic,” for release next month.
