San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Omnitracs to Buy XRS for $178 Million

Omnitracs LLC, a spinoff business of Qualcomm Inc. that was acquired by Vista Equity Partners last year and is relocating to Dallas, said it agreed to acquire XRS Corp., a Minneapolis based firm that makes software for mobile fleet management, for $5.60 per share or $178 million.

Legend 3D Closes $10M Series C Stock Offering

Legend 3D, the San Diego based business that converts two-dimensional film to three-dimensional formats, closed on a $10 million Series C stock offering, led by current investors, Northwater Capital Management Inc. of Toronto and Monaco-based Augustus Ventures Limited.

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BST Nano Acquires Ellsworth Handcrafted Bicycles

BST Nano Carbon, a San Diego composites manufacturer, said it has acquired Ellsworth Handcrafted Bicycles, a Ramona bike manufacturer with a national reputation for top-quality mountain bikes.

The President of Qualcomm’s Atheros Unit Moves to Intel Corp.

The president of Qualcomm Inc.’s Atheros unit has left his job to go work for Intel Corp.

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Novatel Names New CFO

Novatel Wireless Inc., which is rebuilding its executive suite following a change in the board’s composition, said on Sept. 2 that it named Michael Newman its executive vice president and chief financial officer.

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BioLegend Acquires Antibody Products Business Unit From Covance

San Diego-based BioLegend Inc. acquired the shares of Covance Antibody Services Inc., a business unit of Massachusetts-based Covance Inc., on August 29.

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Hilton San Diego Del Mar Completes $15 Million Renovation

Operators of Hilton San Diego Del Mar recently completed a $15 million renovation of the 257-room property.

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Arena Pharmaceuticals' Drug Candidate Granted Orphan Status From FDA

Arena Pharmaceuticals Inc. announced that the Food and Drug Administration has granted orphan drug status to the company’s drug candidate for the treatment of pulmonary arterial hypertension.

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Spring Valley Apartment Property Sells for $3.65 Million

Carv Properties LLC of Chula Vista has acquired the 28-unit Greenwood Villas Apartments in Spring Valley for $3.65 million, according to CoStar Group and public data

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SDG&E Contracts for 2 Firefighting Helicopters

Recognizing the higher risk of wildfires this fall, San Diego Gas & Electric said it is contracting for both an Erickson Air-Crane helitanker and a Helistream Type II helicopter through November.

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General Dynamics Nassco Gets $140 Million Ship Work Contract From Navy

The U.S. Navy said that it awarded General Dynamics Nassco a $140 million contract modification to cover dry-dock work on the USS Pearl Harbor.

StemCutis Names Lee CEO and President

StemCutis LLC, an operating company of Stemedica Cell Technologies Inc., today announced the appointment of Ike Lee as president and CEO.

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Bottega Americano Opening in East Village at Law School Building

Operators planned an Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.

The Business Calendar for the Week of September 1, 2014

Some of the business events scheduled in the county for the week of September 1, 2014.

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Escondido Apartment Complex Sells for $9.9M

Claus Family Trust of Del Mar has purchased Windsong Villas, a 67-unit apartment complex in Escondido, for $9.9 million, according to CoStar Group and public data.

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Mast Therapeutics Names Interim CMO as Exec Announces Departure

Mast Therapeutics Inc. announced that Chief Medical Officer and Senior Vice President Santosh Vetticaden will be leaving the company in mid-September.

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Harper Construction Finishes $2.67 Million Sheriff’s Substation

Harper Construction Co. of San Diego has completed a new $2.67 million San Diego County Sheriff’s substation, which opened recently at 28914 Old Highway 80 in Pine Valley.

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Mast Therapeutics Announces CMO's Departure

Mast Therapeutics Inc. today announced that Chief Medical Officer and Senior Vice President Santosh Vetticaden will be leaving the company in mid-September.

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General Dynamics Nassco Gets $140M Navy Contract

The U.S. Navy said that it awarded General Dynamics Nassco a $140 million contract modification to cover dry-dock work on the USS Pearl Harbor.

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Bottega Americano Set to Open in East Village at Law School Building

Operators plan Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.