Stories for November 2017

Thursday, November 30

Sommetrics Adds to Board of Directors, Advisory Board

Sommetrics has added Raymond Huggenberger to its board of directors and Randall Whitfield to its advisory board.

Escondido Commercial Building Sells for $1.6M

The Escondido building that is home to About Service, Inc. has been sold for $1.6 million.

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DiegoDev Invests in DonationMatch

Del Mar-based web development agency DiegoDev Group LLC recently announced it invested in Sorrento Valley-based DonationMatch Inc.

Patterson + Sheridan LLP Opening Office in San Diego

Intellectual property law firm Patterson + Sheridan LLP plans to open its sixth U.S. office in San Diego.

CPUC Turns Down San Diego Gas & Electric's 2007 Wildfires Request

The CPUC denied a San Diego Gas & Electric request to bill ratepayers $379 million in damages related to the 2007 wildfires.

San Elijo Lagoon Restoration Begins

A long-awaited restoration of the San Elijo Lagoon began Nov. 29.

Report: S.D. 5th Most Expensive for Renters

Renters looking to stretch their earnings might try El Cajon, according to a report by Zumper, a rental property search firm.

Kearny Mesa Retail Center Sells for $9.9M

A Kearny Mesa retail center has been sold for $9.9 million.

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Wednesday, November 29

Economic Index: S.D. Economy Rises on National Outlook

A local index of leading economic indicators in San Diego County was up 0.6 percent in October.

NanoCellect Raises $10M in Funding Round

San Diego biotech NanoCellect Biomedical raised $10 million in a Series B round, led by investment from Illumina Ventures.

Cobham Gets $39M in Orders From Harris Corp.

Cobham Advanced Electronic Solutions has received some $39 million in orders for radio-frequency microelectronics from defense contractor Harris Corp.

Haskell & White LLP Exec Joins ACG's San Diego Chapter Board

Carlos Martinez, a senior manager at accounting, auditing and tax firm Haskell & White LLP, has joined the board of directors for the Association for Corporate Growth’s San Diego chapter.

GA-ASI Gets a $17.5M U.S. Air Force Contract

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. a $17.5 million contract.

Carlsbad's Ted Vallas Hopes New Buy Will Help Him Fly

Ted Vallas, the 96-year-old businessman based at McClellan-Palomar Airport, recently spent some money to make a longtime dream come true.

TuSimple Receives $55M in Funding Round

TuSimple said Nov. 28 that it received $55 million in series C funding.

Tuesday, November 28

Westcore Properties Names New COO

Robert Sistek has joined Westcore Properties as its chief operating officer.

Oceanside Apartments Sell for $4M

An Oceanside single-story apartment building with some commercial space on South Coast Highway has been sold for $4 million.

Biolinq Closes $10M Financing Round

San Diego digital health company Biolinq has closed a $10 million Series A financing round led by M Ventures in collaboration with Hikma Ventures.

The Business Calendar for the Week of November 27, 2017

Some of the business events planned in the county for the week of November 27, 2017, and beyond

Dexcom Partners with Eli Lilly

A newly formed partnership calls for the integration of Dexcom’s continuous glucose monitoring (CGM) system with Eli Lilly and Company’s insulin delivery platform.

Monday, November 27

S.D. Apartments Sold for $11.5M

An 81-unit San Diego apartment complex has been sold for $11.5 million.

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UC San Diego to Join Big West Conference, Become Division I School

UC San Diego is on its way to becoming a Division I school.

Synthorx Appoints Laura Shawver as CEO

Laura Shawver, who has a background as an entrepreneur and drug developer, has been tapped.

Marathon Construction Gets a $9.6M Renovation Contract

The U.S. Navy has awarded Marathon Construction Corp. a $9.6 million task order to renovate Pier 13 at Naval Base San Diego, known informally as the 32nd Street naval station.

ViaSat Signs First Reseller for Speedy Private Jet Internet Service

ViaSat Inc. has signed up its first value-added reseller for its high-speed in-flight internet service for private jets.

Qualcomm Backs Startup Developing Battery-Free Bluetooth Beacons

The busy investment arm of Qualcomm has spied another startup it hopes will go big.

‘Genomics Evangelist’ Envisions Group Effort

Dawn Barry is a self-described genomics evangelist. But she’s not preaching to the choir.

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Sunday, November 26

$1M Donation Match Offered to the San Diego Zoo Global Wildlife Conservancy

The billionaire founder of software company Oracle Corp., and his girlfriend have agreed to match donations up to $1 million to the San Diego Zoo Global Wildlife Conservancy.

New Ionis COO Named

Brett Monia, a founding member of Ionis Pharmaceuticals, has been named the company’s COO.

Sue Major Elected to Girl Scouts' National Board Of Directors

Sue Major has been elected to the national board of directors of Girl Scouts of the USA.

City Heights Apartments Sold for $2.5 million

A 16-unit Euclid Avenue apartment complex in City Heights has been sold for $2.5 million.

GA-EMS New Executive Named

General Atomics Electromagnetic Systems has named Jim Mosquera vice president and chief technology officer.

Cubic Gets $575 million in Boston Rapid Transit Provider Contract

Cubic Corp. has received a 10-year, $575 million contract from Boston’s rapid transit provider.

James Floros Elected Chair of the California Association of Food Banks

The CEO of the Jacobs & Cushman San Diego Food Bank has been elected chairman of the California Association of Food Banks.

Friday, November 24

New Investors at Table Mean Changes for Jack

DINING: Possible Qdoba Sale May Just Be First Step of Big Changes

Jack in the Box Inc. may emerge from 2017 as a slimmer version of itself.

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Cubic Gets Big BostonTransit Contract

Cubic Corp. said Nov. 21 that it received a 10-year, $575 million contract from Boston’s rapid transit provider. Under the deal, Cubic (NYSE: CUB) will design, build, operate and maintain a next-generation fare payment system for the Massachusetts Bay Transportation Authority. Commuters will be able to use mobile phones and bank cards to pay their fares.

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‘Fully Commercialized,’ Biocept Ready for Big Role

BIOTECH: Co.’s Biopsies Enable Targeted Therapy

Tissue biopsies have long been the standard in cancer care. Yet sometimes the tissue-removal procedure can’t be done for medical reasons.

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Seabin Takes Out the Trash

Cabrillo Isle Marina on Harbor Island has turned to technology to help it solve a chronic, annoying problem — floating bottles, cans and other trash that accumulates where people store their boats.

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Cybersecurity Co. Uses Swift Sift of Data to Combat Threats

“Time to detection is kind of a big deal in our business,” says Peter Bybee.

AT&T Supports Veterans and Their Families With Grant

In honor of Veterans Day and as part of AT&Ts Thank Our Heroes campaign, AT&T teamed up with nonprofit zero8hundred to recognize the serving active military families in the San Diego region with a contribution of $25,000.

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Retirement Town … Not Anymore

Planning to retire? Thanks partly to the high cost of housing, the San Diego metropolitan region is not the place for you, according to a report from Bankrate.com. San Diego was ranked 23rd among 50 metro regions reviewed by the organization, which provides consumer financial information online.

Public Spaces, Private Enterprises Make Good Mix at Westfield UTC

A plethora of new stores has opened at Westfield UTC, with more to come following the October opening of the mall’s two-story Nordstrom and San Diego’s first Shake Shack restaurant.

Brokerage’s Mall Office Amenities Likely to Make the Sale for Recruits

When CBRE went shopping for a new location for its San Diego headquarters, the company went to a mall.

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Kristin Rizzo Elected President of S.D. County Bar for 2018

Kristin Rizzo has been elected president of the San Diego County Bar Association (SDCBA) for 2018. Rizzo, a solo practitioner with her own law firm, Rizzo Law, represents individuals in the areas of wrongful termination, discrimination, harassment, retaliation, failure to accommodate, contract and wage and hour disputes.

Cybersecurity Top Of Mind For Wealth Managers

FINANCE: Vendors and clients Must Know Best Cyber Practices

Cybersecurity isn’t just an internal matter for wealth management firms. Without educated clients and vetted vendors, firms may still find the security of their data at risk.

Alumnus’s $30M Gift to UCSD to Go Toward Engineering

GIVING: Qualcomm’s Chief Scientist’s Action Likely to Inspire Others

It played a central role in the formation of Qualcomm Inc. Now the University of California, San Diego is reaping more rewards from that relationship.

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Bullish on Coworking, WeWork to Add UTC Location

WeWork, the coworking behemoth, has confirmed it plans to open a second location in San Diego with 1,000 new desks in 2018.

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Robot Developers Are Finding Work for Their Creations

TECH: Entry Level Tasks Are Baby Steps of The Coming Technology

Between the low-rise buildings in a Kearny Mesa industrial park, a four-wheeled vehicle a little bigger than a Radio Flyer wagon goes around and around on the asphalt in a preprogrammed route, capturing video of what it sees.

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Downtown Building to Remain Senior Housing After Upgrade

PROPERTY: Deal for 14-Story Tower Locks In Status for 55 Years

A downtown San Diego apartment tower that has long been home to low-income senior citizens will undergo a major makeover in a deal that guarantees that it will remain affordable housing for 55 years.

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San Diego County Got Big Boost in Life Science Jobs in 2016

FINANCE: Report Finds VC Investment Down; Average Wages Fell

Employment in the life sciences sector in San Diego County shot up nearly 19 percent year over year, according to a recent industry report for the state.

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Betting on Beer

Breweries Turn To New Way To Get Cash

Dan Selis likes being a trailblazer. Under Selis, who began Mission Brewery nearly a decade ago in a former Wonder Bread bakery near Petco Park, Mission was the first brewing company in California to sell a 32-ounce version of its craft beers. It was also the first in the state to make and sell an alcoholic version of root beer.

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Thursday, November 23

Median Sales Price for Single-Family Home in North County in October: $680K

Home prices in San Diego’s North County crept ever higher in October.

San Elijo Lagoon Conservancy Acquires Land in Encinitas

The San Elijo Lagoon Conservancy acquired 77 acres of land in upland Encinitas for $112,500.

BAE Systems Gets $8.8M U.S. Navy Contract

The U.S. Navy awarded BAE Systems San Diego Ship Repair an $8.8 million contract modification.

Encore Capital Group Subsidiary Abandons IPO Plan

A subsidiary of Encore Capital Group has abandoned its plan for an initial public offering.

Cubic Corp.'s Q4 Revenue: $445.6 million

Cubic Corp., the defense contractor that has a big footprint in the mass-transit space, reported net income of $13.2 million in its Q4.

Guild Mortgage Expands Into the Midwest

Guild Mortgage, a mortgage lender based in San Diego, is expanding into the Midwest.

Tuesday, November 21

New Chairman Named at Salk Institute

Daniel Lewis has been named chairman of the Salk Institute’s Board of Trustees.

Illumina Revenue Jumps 18 Percent in Q3

San Diego biotech Illumina reported that its Q3 revenue climbed 18 percent year over year.

More Robots Coming to Walmart?

WalMart recently made headlines by deploying specialized robots able to scan store shelves to see if the merchandise needs restocking.

Neurocrine Biosciences Gets New CFO

Matt Abernethy has been tapped as CFO of Neurocrine Biosciences.

Qualcomm Backs Startup Developing Battery-Free Bluetooth Beacons

The busy investment arm of Qualcomm Inc. has spied another startup it hopes will go big.

Nixon Opens Outlet in Encinitas

Nixon has opened a retail store in its global headquarters on South Coast Highway.

Monday, November 20

La Jolla Offices Sold for $3.2 million

A La Jolla office building that is home to a City National Bank office and the law firm of Blanchard, Krasner and French has been sold for $3.2 million.

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Mission Hills Apartments go for $2.4 million

A Mission Hills apartment building has sold for $2.4 million.

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Coronado Apartments Sell for $3.1 million

A seven-unit Coronado apartment complex has sold for $3.1 million.

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Startup’s Game Plan: Team Up With Fantasy Sports’ Players

TECH: Co. Profits By Selling Full Functionality Of Its Free Mobile App

Fantasy sports allow fans of professional competitors to build and manage teams as if they were their own.

Coastal Connection Cultivated at Boutique Property

Downtown San Diego has a new hotel — the 19-story Hotel Republic San Diego at 421 W. B St., in what was formerly the W Hotel, renovated throughout.

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Northrop Drops Out of Competition For Aerial Tanker Drone Contract

Northrop Grumman Corp. has walked away from an unmanned aircraft project that it had an excellent chance of winning.

Star Street: Del Mar Heights Road

Businesses looking for a tony place to open shop might well consider Del Mar Heights Road.

Industrial and Flex Lead Way As Construction Gets Busy

New construction is heading for levels not seen in San Diego County since before the past recession, according to a report by the commercial real estate brokerage firm of JLL.

A New Day at the Office

Design and Construction Moves to Meet Millennials By Providing Open Space, Amenities And Office Options Rather Than a Set Space

Millennials, those younger workers between the ages of 18 and 34 who are seeking a different kind of workspace, are having a profound effect on the way offices are designed and built in San Diego County and elsewhere. And since millennials constitute a large percentage of the San Diego population, designers and builders are stepping up to accommodate their preferences.

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Petco’s Latest Acquisition is Local Co. PupBox

RETAIL: Subscription Service Another Element Of Expanding Offerings

San Diego-based specialty retailer Petco Animal Supplies Inc. has acquired PupBox, a monthly subscription service that sends out bundles of toys, treats, tools and training guides to puppy owners.

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Celebration of Hope Raises $250,000 for Huntington’s Fight

The San Diego Chapter of Huntington’s Disease Society of America announced that a record $250,000 was raised at its 16th annual Celebration of Hope Gala held at the Pendry San Diego hotel in downtown San Diego.

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House Brings Together ‘Historical Charm’ and ‘Modern Flair’

Just less than a half mile up from the ocean on Ninth Street in Del Mar, the road hits a dead end at Highland Avenue. Straight ahead is a charming Spanish-style villa behind a wrought-iron gate surrounded by neatly trimmed hedges all along the street. Immediately, the sprawling canopy of a giant ficus tree in the front yard takes one’s breath away.

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Alexan ALX Leads Way of Downtown Apartment Boom

PROPERTY: Alexan Targets Millennials; More Projects on the Way

Downtown San Diego is about to get the first in a series of new apartment towers — Alexan ALX — after a year of little activity

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Industry Disrupter Health IQ Raises $34.6M, Plans More Local Hiring

INSURANCE: Co. Gives Health Conscious Incentives Via Policies and Prices

IA life insurance startup co-founded by a UC San Diego computer science graduate has raised $34.6 million in Series C funding in a round led by top Silicon Valley venture capital firm Andreessen Horowitz.

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Predator Tries Anti-Submarine Role

General Atomics Aeronautical Systems Inc. said Nov. 13 that one of its unmanned MQ-9 Predator B aircraft participated in an anti-submarine warfare demonstration during war games in mid-October in the ocean west of San Clemente Island.

Israeli Co. Buys Chassis Plans

Israel-based Aeronautics Ltd. has acquired Rancho Bernardo-based Chassis Plans, a business that produces ruggedized computers and peripherals. Financial terms were not disclosed. Chassis Plans will stay in its San Diego offices and add to its workforce, said CEO Michael McCormack.

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Kratos Conducts $300M Bond Offering

Kratos Defense & Security Solutions Inc. is selling $300 million worth of bonds to private investors. The University City defense contractor said it plans to use some cash as well as proceeds from the bonds — which are 6.5 percent senior secured notes due 2025 — to retire outstanding 7 percent senior secured notes due 2019.

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Sunday, November 19

Integrated Chemistry Design Gets a Patent for Drawing on a Touchscreen Computer

Integrated Chemistry Design Inc. has received a patent for drawing on a touchscreen computer.

Qualcomm Co-Founder Gifts $30M to UCSD

Qualcomm Inc. co-founder Franklin Antonio has made a $30 million gift to UCSD.

Ionis Licenses Second Antisense Drug

Ionis Pharmaceuticals has licensed another antisense drug to Janssen Biotech.

Odonate Therapeutics Files for $173 M IPO

San Diego-based Odonate Therapeutics has filed with the SEC to raise up to $173 million in an IPO.

The Business Calendar for the Week of November 20, 2017

Some of the business events planned in the county for the week of November 20, 2017, and beyond.

Mahoney Named CEO of Red Cross of San Diego/Imperial Counties

Sean Mahoney has been named as the CEO of the American Red Cross of San Diego/Imperial Counties. Sean Mahoney -- Photo courtesy of American Red Cross of San Diego/Imperial Counties

Cubic Gets 3-Year Contract Extension Worth $185M From a UK Transit Agency

Cubic Corp. has received a three-year extension on its contract to collect revenue for Transport for London, the transit agency for the United Kingdom’s capital city.

SD Homes Buys Little Italy Site, Plans Office and Retail Project

A Little Italy site targeted for redevelopment was sold to SD Homes, which plans to replace the existing structures with a two-story retail and office building.

Thermo Fisher Awarded $40 Million Army Contract

The U.S. Army awarded Thermo Fisher Scientific Inc. a five-year, $40 million contract for customized reagents and consumables.

Friday, November 17

Ionis Confident It Can Compete With Alnylam

PHARMA: Cos. Clash as They Target Same Illness

Business Calendar for Week of November 20, 2017

Some of the business events planned in the county for the week of November 20, 2017.

Tax Reform May Threaten Incentives for Orphan Drug Research

PHARMA: Sector Lobbies Against Changes; Cut Said to Bring $54B Over 10 Years

Drugmakers researching medicines for rare diseases could lose all or part of a tax credit under Republican tax overhaul proposals unveiled this month, sparking concern among San Diego’s biotech industry.

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‘Fully Commercialized,’ Biocept Ready for Big Role

BIOTECH: Co.’s Biopsies Enable Targeted Therapy

Tissue biopsies have long been the standard in cancer care. Yet sometimes the tissue-removal procedure can’t be done for medical reasons.

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Sempra Betting on Its Power of Persuasion

ENERGY: Acquisition of Texas Utility Likely to Depend On Convincing State’s PUC

It wasn’t the sort of regulatory memo the head of a large public company looks forward to discussing on an earnings call. But the timing left Sempra Energy CEO Debra Reed little choice.

Qualcomm Sets Stage For Complex Battle

ACQUISITION: Broadcom Must Effectively Deal With Many Players

Qualcomm Inc.’s board of directors unanimously rejected Broadcom Ltd.’s offer to buy the company for $70 per share, saying on Nov. 13 that Broadcom’s offer “dramatically undervalues” the company.

New Inseego CEO Brings Change in Staff and Organization

TECH: Co. Creates 2 Units for Businesses, Pursues New Initiatives

Dan Mondor is settling into the routine of working in San Diego. At midafternoon, an F/A-18 jet from Marine Corps Air Station Miramar screams over his office on Sorrento Mesa, setting off a nearby car alarm. It happens every day.

Seed Round of $1.7M Will Help Weedguide Give the 411 on 420

Search Google for “ganja” and your results will be marijuana-related. But what about weed? What about grass? Pot, another term for the flowering plant called cannabis, will lead you first to cookware.

Technology Aims to Take On Social Media’s Illicit Side

TECH: Pharmaceutical Sales, Counterfeit Goods Could Be Targeted

Researchers at the University of California San Diego are at the forefront of an emerging technology that sifts through enormous amounts of social media posts to identify illicit sellers of pharmaceutical drugs.

Thursday, November 16

Arcturus Completes Merger with Alcobra, Lists on Nasdaq

San Diego’s Arcturus Therapeutics is now on the public markets following a merger with Alcobra, previously based in Israel.

Carlsbad Industrial Building Sold for $24.5M

A Carlsbad building used for shipping by FedEx was sold by Leonard Living Trust to Berdan Holdings, LLC for $24.5 million.

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Arizona St. Apartment Complex Sells for $2.8M

An eight-unit North Park apartment building sold for nearly $2.8 million, close to $350,000 per unit.

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Design Firm Expands Offerings at California Offices

SmithGroupJJR, an integrated design firm, has begun offering mechanical and electrical engineering services in-house at its San Diego, Los Angeles and San Francisco offices.

North Park Apartment Sold for $2.8M

A Texas Street apartment complex in North Park sold for nearly $2.8 million, about $350,000 per unit.

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I.B. Apartments Sell for $2.6M

An Imperial Beach apartment building was sold by IB Properties, LLC of Coronado to Linton Dise Intervivos Trust, LLC of San Diego for $2.6 million.

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New Cheesecake Factory Opens in Carlsbad

The Cheesecake Factory is opening a new restaurant in Carlsbad in the Carlsbad Plaza South Shopping Center.

Australian Sunglasses Retailer Opens UTC Location

Quay Australia, a retail sunglasses company, has opened a shop at Westfield UTC.

Wednesday, November 15

Palomar Health to Build New Crisis Stabilization Unit

A standalone crisis stabilization unit will be built on the Palomar Medical Center Escondido campus.

Report: Review of Qualcomm's Bid for NXP Will Slip Into 2018

The European Commission might not complete its antitrust review of Qualcomm Inc.’s attempt to buy NXP Semiconductors N.V. until early 2018.

WD-40’s Latest Auto Upgrade Has Cult Following

A cult classic. That’s what WD-40 Co. calls the four-wheel-drive vehicle it is upgrading and planning to auction for charity.

Petco Sees Itself as Good Home for PupBox

San Diego-based specialty retailer Petco Animal Supplies Inc. has acquired PupBox.

Guild Mortgage Reports Q3 Loan Volume of $4.4B

San Diego-based Guild Mortgage reported total loan volume of $4.4 billion in the third quarter of 2017.

GA Acquires Assets of Colorado-based Co. Specializing in Small Satellites

General Atomics has acquired the majority of the assets of Englewood, Colorado-based Surrey Satellite Technology US LLC.

UC San Diego Forms Medical Records Partnership

UC San Diego and UC Irvine Health are now on an integrated electronic medical records platform.

Tuesday, November 14

Qualcomm Rejects Broadcom's Advances

Qualcomm Inc. has rejected Broadcom Ltd.'s offer to buy the company.

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Centerpark Plaza in Sorrento Valley Sold for Undisclosed Sum

In a joint venture with Montana Avenue Capital Partners, Goldman Sachs Asset Management Private Real Estate has acquired Centerpark Plaza in Sorrento Valley.

Heron Wins FDA Approval for Chemotherapy Drug

The FDA has approved Heron Therapeutic's Cinvanti, an injectable drug for the prevention of chemotherapy-induced nausea and vomiting.

S.D. 'Google of Ganja' Entrepreneur Raises $1.7M For Search Engine Startup

Weedguide has landed its first outside funding.

Survey: Nearly Half Say They Prefer Shopping In-Store Over Online

Brick and mortar store owners can take heart from a recent survey.

SmartCover Systems Gets a $3.2M Contract

SmartCover Systems of Escondido received a $3.2 million contract to supply its manhole-mounted fluid level sensors to the San Antonio, Texas, sewer system.

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Monday, November 13

MaxLinear Reports Record Q3 Revenue

Carlsbad chipmaker MaxLinear Inc. reported a net loss of $9.2 million on record quarterly revenue of $113.6 million.

Tear Film Innovations Raises $9M in Financing Round

San Diego-based Tear Film Innovations Inc. said it has raised $9 million in a Series A preferred stock round.

Report: Good Credit Score Key to High-End Apartments

Apartment renters better have good credit if they expect to get into that cool flat.

Sunday, November 12

Jessop Jewelers to Shutter After 125 Years

Jessop Jewelers in downtown San Diego is closing its doors after 125 years in business.

Court Allows Improvements to go on at Belmont Park

A recent court ruling will allow improvements to continue at San Diego’s Belmont Park.

AbacusNext Acquires U.K.-based Document Automation Co.

San Diego-based AbacusNext has acquired U.K.-based HotDocs. Financial terms of the deal were not disclosed.

Broadcom Chief Speaks to Importance of San Diego

Qualcomm Inc. has its roots in San Diego, and Broadcom Ltd. would be “very focused” on the region in the event its bid for Qualcomm is a success.

The Business Calendar for the Week of Nov. 13, 2017

Some of the business events planned in the county for the week of November 13, 2017, and beyond.

Friday, November 10

Silvergate Bank Q3 Earnings Up

Strong loan production at good yields played a role in increased third-quarter earnings at Silvergate Bank in San Diego.

MaxLinear Reports Record Quarterly Revenue

Carlsbad chipmaker MaxLinear Inc. reported a net loss of $9.2 million on record quarterly revenue of $113.6 million.

Jessop Jewelers Shutting Down After 125 Years

Jessop Jewelers in downtown San Diego is closing its doors after 125 years in business.

Court Allows Improvements to Continue at Belmont Park

A recent court ruling will allow improvements to continue at San Diego’s Belmont Park.

Heron Therapeutics Wins FDA Approval for Chemotherapy Drug

The FDA has approved Heron Therapeutic's Cinvanti, an injectable drug for the prevention of chemotherapy-induced nausea and vomiting.

AbacusNext Acquires U.K.-based Document Automation Company

San Diego-based AbacusNext has acquired U.K.-based HotDocs.

Broadcom Chief Speaks to the Importance of San Diego

Broadcom went public with its unsolicited, $70 per share bid for Qualcomm on Nov. 6. Broadcom CEO Hock Tan answered a few questions.

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Business Calendar for Week of November 13, 2017

Some of the business events planned in the county for the week of November 13, 2017, and beyond.

Thursday, November 9

Inseego Corp. Posts Net Loss of $13.8 million in Q3

Inseego Corp., a specialist in electronics hardware and software as a service, reported a net loss of $13.8 million on net revenues of $57.5 million in its third quarter ending Sept. 30.

Palomar Health CEO Retires

Robert Hemker has announced his retirement as president and CEO of Palomar Health.

Swiss Chocolatier Opens Outlet in La Jolla

Teuscher Chocolates of Switzerland is coming to La Jolla.

BN Builders Gets New Digs in Sorrento Valley

BN Builders has moved to new offices in Sorrento Valley.

Jelley Properties Becomes Part of Coldwell Banker Residential Brokerage

Coldwell Banker Residential Brokerage has acquired the assets of Jelley Properties in Del Mar.

SmithGroupJJR Opens Downtown Office

SmithGroupJJR, an integrated design firm, has opened a downtown San Diego office at 225 Broadway.

Philanthropy Will Generate Brand Trust, Loyalty

After last month’s Northern California wildfire disaster, several tech companies lined up to assist survivors. Apple and Facebook each pledged $1 million donations to fire-relief efforts. Uber and Lyft offered transportation to those impacted.

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BAE Systems Provides Key Resources in Hurricane Relief Efforts

BAE Systems employees in San Diego recently assisted Hurricane Harvey relief efforts in Texas using its Geospatial eXploitation Products, or GXP, which are developed in San Diego as part of its Electronic Systems group. The BAE products provided geospatial intelligence and solutions to disaster response teams assisting victims of Hurricane Harvey.

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Synergy, Right Symbolism Required for Proper Naming of Schools

EDUCATION: Institutions Often Have Guidelines For Transformational Event

Despite its youthful 27 years, California State University San Marcos can boast philanthropist names on five of its facilities, including the library, the field house and the home of the business school.

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Putting MBAs on Fast Track

Schools Consider Offering Accelerated Programs As Time and Career Concerns Weigh on Students

Nikhil Varaiya knows how to deal with students who complain it takes them too long to complete the Master of Business Administration program where he works at San Diego State University. “I’ve asked them, ‘Are you willing to go three semesters at 12 to 15 units a semester? That’s when they start to have some sort of hesitation,” said Varaiya, a finance professor at SDSU and director of its graduate business programs.

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Some Amazing Attorneys Earn Place on This Awards’ Roster

There are some amazing attorneys who will be honored Nov. 15 at the San Diego Business Journal’s Business Women of the Year Awards. You should attend the event, which will be held this Wednesday, at the Hilton San Diego Bayfront, from 11:30 a.m., to 2 p.m.

Life Science Leasing Surge Expected to Keep its Momentum

PROPERTY: Cos. Using S.D. as R&D Hub; Capital at Historic Highs

Leasing activity among life science companies surged in the third quarter of 2017 and shows no signs of letting up, the commercial brokerage firm JLL reported.

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Bose Corp. Buys Hush

Bose Corp., the Massachusetts consumer electronics maker, has acquired Hush, a former tenant of the EvoNexus incubator in the University Towne Center neighborhood. Hush is the company founded by three UC San Diego students — all named Daniel — who brought a set of noise-cancelling earplugs to market. It seemed they saw a wide market opportunity in college-area apartments where students attempted to get a little undisturbed rest. The Business Journal profiled Hush in April 2015.

ViaSat Busy in Both Commercial And Government Spaces

Satellite communications specialist ViaSat Inc. publicly opened the books on its second quarter, reporting a net loss of $13.7 million on revenue of $393.1 million. ViaSat (Nasdaq: VSAT) has an unusual fiscal year, so its second quarter ends Sept. 30 (yes, it’s the midpoint of fiscal 2018).

More Flavor for Ocean Beach

Blue Water Seafood Market & Grill in Mission Hills is expanding with a second restaurant due to open in Ocean Beach at 5083 Santa Monica Ave., in spring 2018.

New Pizza Smell Coming to Former Dealership

Buona Forchetta restaurant is expanding with plans for a new restaurant in Coronado in a former car dealership at 1000 C St.

Buzz Begins Early on Planned Little Italy Office Building

A full block of Little Italy with old warehouses will be transformed into a five-story office building under a $19.4 million deal by the Los Angeles-based Kilroy Realty.

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Origin Code Academy Moves Most of Its Curriculum Online

TECH: Access Cited In Move as Sector Looks for Right Model

Origin Code Academy, a local participant in the popular yet tumultuous industry of coding boot camps, is moving its curriculum online.

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Nonprofits Make Compelling Pitches

The Second Chance Youth Garden, a six-week job training program for people age 14 to 21, took first place in the San Diego Accelerator and Impact Lab (SAIL) Pitch Night on Oct. 24.

S.D. Entrepreneur to Pitch at WeWork’s Creator Awards

A San Diego entrepreneur is among 30 finalists invited to compete for $1.5 million in funding as part of co-working giant WeWork’s Creator Awards program. The initiative aims to award more than $20 million to those doing creative work across the globe.

Know the Pieces, the Moves and The Timing of VC Funding Game

Having an innovative product or service isn’t enough. Neither is delivering a perfect pitch, showing evidence of ample industry experience or revealing a major undiscovered market opportunity.

SmartDrive Turns Attention To Monitoring Drivers’ Focus, Actions

TECH: Co. Captures, Analyzes Video and Makes Report to Client

We’ve all done it while driving: taken our eyes off the road to peek at an incoming text message or take a bite of a snack. That very human tendency is a big liability for everyone on the highway, and a big liability for trucking companies.

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Ra Medical Systems Moves to a Larger Carlsbad Facility

BIOTECH: Unifying Operations Seen as Plus; Possible IPO Coming

Ra Medical Systems has outgrown its digs once again. Next month, the Carlsbad medical device company is moving to a bigger space to meet increased demand, the fifth time it has done so since forming in 2002. Its new headquarters — down the street from its current spot — will house R&D, production, sales, marketing and administrative functions in a 32,000-square-foot building.

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S.D. Coordinates Efforts to Put Hospital Stay on Tourist Itinerary

ECONOMY: Campaign Touts Region’s Prowess To Drive Medical Visits

For visitors, San Diego offers much more than beaches, craft beer and convention space.

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Renovation Revs Up In Downtown

PROPERTY: Office Space Demand Seen Into 2019

Downtown San Diego is seeing the biggest surge of building renovations in years, driven in part by a shortage of new office space and a demand for more open work spaces and amenities.

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Broadcom Aims Low With Qualcomm Offer

TECH: Its 5G Efforts, Other Tech Could Put Share Price Near $100

Is Qualcomm Inc. worth $70 per share? That simple question may be the beginning of a long negotiation process. Or it could be the key that determines whether Qualcomm (Nasdaq: QCOM) survives in its current form as a San Diego-based corporation.

Hospitals See Harm in Insurer’s Imaging Policy Change

MEDICINE: Use of Centers Expected to Cut Costs

Anthem will no longer pay for outpatient MRIs and CT scans at hospitals, a decision that at least two San Diego hospital systems fear could chip away at care — and their bottom lines.

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Independent Toy Stores Play to Their Strengths

RETAIL: They Focus On Customer Service, Create Community Feel

Say you were thinking of buying a new-to-market toy like the Zipes Speed Pipes Performance Pack, a hot item among the under-13 crowd. (The holidays are around the corner, after all.) Sure, this network of pipes that a toy car zips around at breakneck pace looks fun in YouTube videos.

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Wednesday, November 8

Gary Jacobs Named Board Chair of JCC Association of North America

Del Mar resident Gary Jacobs has been named board chair of the JCC Association of North America.

Batu Biologics Gets OK to Test Cancer Immunotherapy in Humans

San Diego-based Batu Biologics has received approval from the FDA to proceed with human testing of its cancer immunotherapy.

General Atomics gets $8.9M U.S. Missile Defense Agency Contract

The U.S. Missile Defense Agency awarded General Atomics Electromagnetic Systems Group an $8.9 million contract.

S.D. Entrepreneur Among Finalists Competing for $1.5M in Funding from WeWork

A San Diego entrepreneur is among 30 finalists invited to compete for $1.5 million in funding as part of co-working giant WeWork’s Creator Awards program.

Aquam Corp. Gets $26M in Growth Capital

Aquam Corp. has received $26 million in growth capital from NewWorld Capital Group LLC, a private equity firm with an environmental focus.

San Diego Business Leader Takes Helm of National Trade Group

Paola Avila has been tapped as the chair of the Border Trade Alliance.

Youth Job Training Program Wins $10K on Pitch Night

The Second Chance Youth Garden took first place in the San Diego Accelerator and Impact Lab (SAIL) Pitch Night.

Tuesday, November 7

Law Firm in Trump U. Case Buys Practice

San Diego-based consumer advocacy law firm Haeggquist & Eck said it’s bought the Cooper Law Firm in Irvine, an employee and consumer class action firm.

SDSU Entrepreneurs to Get Legal Help Through Partnership

San Diego State University, University of San Diego, and Duane Morris LLP on Nov. 3 launched a joint program that will pair SDSU entrepreneurs with law students and attorneys.

Klotho Therapeutics Raises $10 M in Funding Round

Klotho Therapeutics (KTI) raised $10 million in a Series A round from Thynk Capital, whose founder, Jim Plante, is also the founder and CEO of KTI.

Broadcom Makes $100 Billion Bid for Qualcomm

Ending speculation, Broadcom Ltd. announced that it is making an unsolicited bid for Qualcomm Inc. in a cash and stock deal worth slightly more than $100 billion.

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Monday, November 6

Procopio Expands to Nevada

San Diego County’s largest locally based law firm has expanded to Nevada, the fourth state in which it has at least one office.

Hottest Toy for Christmas?

Montreal toy importer WowWee, which has its engineering and design office in La Jolla, is entering another Christmas season with a product that holds a lot of promise — and a lot of fingers.

Banker's Hill Offices Sell for $7.3M

A Banker's Hill office building at 2250 4th Ave. has sold for $7.3 million.

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Sunday, November 5

The Business Calendar for the Week of November 6, 2017

Some of the business events scheduled in the county for the week of November 6, 2017, and beyond.

Friday, November 3

AMN Healthcare Reports Solid Growth in Q3

San Diego’s AMN Healthcare, the U.S.’s largest health care and nurse staffing company, has reported year-over-year revenue growth in its third quarter.

Zodiac Pool Solutions Plans to Merge With Barcelona-Based Multinational Group

Zodiac Pool Solutions, the Vista-based manufacturer of residential pool equipment, plans to merge with a publicly traded Barcelona-based multinational group.

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Hope-Amundson Merges With Coffman Engineers

The San Diego-based structural engineering firm of Hope-Amundson, Inc., has merged with Coffman Engineers, Inc.

Jerome’s Furniture Opens New Showroom

Jerome’s Furniture has opened a new showroom in Moreno Valley.

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La Mesa Apartments Sold for $3.2 million

A 12-unit La Mesa apartment complex has sold for $3.2 million.

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San Diego Competitive on Office Space Rent Costs

A snapshot of the cost of renting office space around the country shows San Diego County to be highly competitive.

Hera Labs Wins $50K in SBA contest

San Diego-based Hera Labs has won $50,000 from the U.S. Small Business Administration.

Reports: Broadcom Exploring Bid for San Diego-Based Qualcomm Inc.

Broadcom is reportedly exploring a bid for San Diego-based Qualcomm Inc.

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Business Calendar for Week of November 6, 2017

Some of the business events planned in the county for the week of November 6, 2017, and beyond.

Industrial Demand Drives Up-to-Date Digs

PROPERTY: North County Sites Go Fast in Tight Market

Go north is the solution for a growing number of companies looking for industrial space to expand in San Diego County.

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Thursday, November 2

Arcturus Therapeutics and Synthetic Genomics Announce Partnership

Two San Diego biotechs have entered into a research collaboration and licensing agreement to develop vaccines and therapeutics for both human and animal health.

Marine Corps. Awards Cubic Corp. $11.6 M Contract

The U.S. Marine Corps awarded Cubic Corp. a six-month, $11.6 million contract for readiness training support

Kratos Reports a Nearly 20 Percent Increase in Q3 Revenue

Kratos Defense & Security Solutions Inc. reported an 18.6 percent increase in revenue and a markedly lower net loss in the third quarter.

Grant to Train Medi-Cal Providers Through CSU Institute for Palliative Care

A new $244,000 grant will fund palliative care education for qualified Medi-Cal providers at the California State University Institute for Palliative Care in San Marcos.

Rancho Bernardo Office Building Goes for $7.7 M

A vacant Rancho Bernardo office building at 12220 World Trade Dr. has sold for $7.7 million.

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Del Mar Oceanfront Property an Architectural Masterpiece

The minimalist simplicity of the facade of the oceanfront home at 2932 Camino Del Mar in Del Mar is but an invitation to the architectural masterpiece behind its gated exterior.

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Renovate to Cut 100 Workers Following Leadership Changes

FINANCE: It Is Part of Broad Restructuring Plan; Changes to Loans Pushed

San Diego-based home improvements financing provider Renovate America said Oct. 30 it will lay off nearly 20 percent of its workforce — 100 people — by year’s end.

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Ignyta Raises $160M on Cancer Drug’s Promise

San Diego drugmaker Ignyta Inc. is piggybacking off recent positive press by raising $160 million in a new stock offering. The fresh infusion of cash will go toward developing the company’s cancer drug.

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Boomers Move Into Apartment Market

Watch out millennials, baby boomers are making a comeback when it comes to seeking new apartment housing.

Office Building Brings $21.5 Million

A two-story Rancho Bernardo office building was sold for $21.5 million.

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With a Low Vacancy Rate, Construction Hits a High Point

Finding available industrial and research and development space in San Diego County can be a challenge, with vacancy rates dropping to an all-time low of 4.5 percent in the third quarter of this year.

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OK By Feds Puts Endeavor in Unique Position as a New Local Bank

BANKING: Experienced Team Will Focus on Consultative Banking

The team of bankers and business leaders behind a proposed new bank has received permission from federal regulators to open once it raises at least $25 million.

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Continued Growth Expected in Local Defense Spending

Pentagon spending in San Diego County rose 3.2 percent between 2016 and 2017, and economists who track the numbers predict slightly faster growth this year.

BlueTech Incubator Debuts

The Maritime Alliance has launched a business incubator focused on ocean- and water-based industries.

Photos courtesy of Pacific Sotheby’s International Realty

Coldwell Banker Residential Brokerage raised more than $50,000 for charity at its 11th annual Coldwell Banker Community Foundation Charity Golf Event held at the Crosby National Golf Club in Rancho Santa Fe. Ten percent of the proceeds will be given to Balboa Naval Medical Center’s Children’s Hematology and Oncology Department.

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Planning to Back Out Of Parking Garages

PROPERTY: A Plan B for Obsolete Structures Needed

In the not-to-distant future, that parking garage that was so crucial to a commercial real estate project could be a white elephant.

Soccer Team Gives Naming a Shot; For Hockey, It’s Gotta Be Gulls

SPORT: Sales Soar for Gulls as Connection To Past Pays Off

Like the Seals, another professional sports organization that is new to the San Diego region has recently undergone a similar naming process.

Teams Seal First Victory With the Right Names

SPORTS: Connecting Team, Public and Place Is Goal

A rose by any other name would, of course, still smell as sweet.

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Health Record Platform Taps Blockchain Tech

BIOTECH: System Puts Patient In Active Role, Uses Gamification

Two executives of San Diego companies are pooling their areas of expertise into a health record platform built on blockchain technology.

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Trials Combined for Cancer Therapy

HEALTH: Move Expected to Greatly Advance Timelines

San Diego drugmaker Tocagen accelerated its gene cancer therapy into a pivotal Phase 3 trial, which the company estimates will shave off as many as three years from the drug’s development and the U.S. Food and Drug Administration regulatory process.

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For Women’s Health Company Uqora, Winning Pitch Is in the Pitcher or Glass

A San Diego resident who developed a drink mix to reduce the incidence of urinary tract infections recently took top honors — and $40,000 in capital for her startup — at a pitch competition hosted by the U.S. Small Business Administration.

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Qualcomm Net Income, Revenue Down as Legal Battles Continue

TECH: NXP Acquisition Is Moving Slowly; CEO Confident in Strong 2018

Strained by lengthening legal fights with Apple Inc., San Diego-based Qualcomm Inc. reported fourth quarter net income of $200 million — a decline of 89 percent from the same quarter a year ago, when the company produced $1.6 billion in net income.

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ResMed Makes Profitable Connection With Digital Health

BIOTECH: Co. Amasses Data, Turning It Into Actionable Information

ResMed earlier this year hit a milestone, amassing data on 1 billion nights of sleep.

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Wednesday, November 1

DexCom Reports Big Jump in Revenue

DexCom posted third quarter revenue of $184.6 million, a 24 percent year-over-year increase.

SoulCycle Studio Coming to Westfield UTC Mall

SoulCycle, an indoor cycling and lifestyle company, plans to open a studio at Westfield UTC mall in spring 2018.

La Mesa Apartments Sell for $4.25 million

A 24-unit La Mesa apartment complex has been sold for $4.25 million.

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Webb Cleff Architecture Changes Name, Moves into Larger Encinitas Office

Webb Cleff Architecture of Encinitas has changed its name to StudioWC Architecture and Engineering.

Endeavor Bank Gets Feds’ Go-Ahead

The team of bankers and business leaders behind a proposed new bank has received permission from federal regulators to open once it raises at least $25 million.