Quote of the Week
‘Even though Arizona has really begun a major effort to grow biotech … the truth is the resources that are needed for the for-profit biotechs, particularly the startup companies, just don’t compare to what’s in San Diego.’
, Michelle Hanna, chief executive and scientific director of Ribomed Biotechnologies Inc., which has relocated from Phoenix to Carlsbad.
Click here for the story.
Friday, Dec. 28
Ship Comes In For DOCX:
Shares of Carlsbad-based Document Sciences Corp. closed at $14.49 after a week that saw the stock price rise dramatically.
EMC Corp. of suburban Boston said early Dec. 27 that it had inked a deal to acquire the Carlsbad-based software maker for $85 million in cash.
The $14.75-per-share offer was a 79 percent premium on Document Sciences’ Dec. 26 closing price of $8.24 per share.
Document Sciences, whose Nasdaq ticker symbol is DOCX, makes specialized software for large, institutional computer systems. The software creates “well-designed, highly personalized communications,” according to company literature.
The deal still needs stockholder and regulatory approval, and is expected to close in the first quarter of 2008.
EMC trades on the New York Stock Exchange under the symbol EMC.
, Brad Graves
Monday, Dec. 31
U.S. District Judge James Selna of Santa Ana ruled certain mobile phone chips from Qualcomm Inc. infringed on patents owned by Irvine-based Broadcom Corp., and issued an injunction prohibiting or limiting use of those Qualcomm chips. The injunction applies only to chips used in the United States.
Qualcomm said Jan. 2 that it has put out four new chip models designed to comply with the injunction. The company said the replacement chips should be in commercial handsets by the end of the first quarter.
The judge also ruled Qualcomm must pay Broadcom royalties on another technology through 2009.
In a prepared statement, Qualcomm called the judge’s ruling “complex” and said it would seek more clarification on it. The San Diego company said it might ask for a stay or may appeal the judge’s ruling.
The company also said it would discuss the financial ramifications of the issue , part of an ongoing dispute with Irvine-based Broadcom , on Jan. 23.
Qualcomm trades on the Nasdaq under the symbol QCOM. Shares closed at $39.35 on Dec. 31. They closed at $38.39 on Jan. 2.
, Brad Graves
Wednesday, Jan. 2
We Sell Santaluz:
Willis Allen Real Estate said that it has opened its eighth office, in Santaluz. Santaluz is the new master-planned community north of state Route 56, near Fairbanks Ranch.
La Jolla-based Willis Allen took over the operation of Santaluz Realty/DMB Realty, acquiring assets and the office location, according to Gary Wheeler, the Willis Allen executive who will oversee the Santaluz office.
Terms of the sale were not disclosed.
The eight agents and two support staff who worked for Santaluz Realty/DMB Realty will continue with Willis Allen, Wheeler said, adding that the office will be home to two additional agents.
Wheeler manages the Rancho Santa Fe branch of Willis Allen.
, Brad Graves
Thursday, Jan. 3
Conference Business Beckons:
The Active Network Inc. said that it has acquired RegOnline and WingateWeb, two companies specializing in software for meetings and events registration.
Terms of the sales were not disclosed. With the acquisitions, The Active Network’s head count is nearly 1,500, according to a company spokeswoman.
RegOnline, based in Boulder, Colo., offers online registration services. It employs 60 people.
WingateWeb, based in Lindon, Utah, employs 85 people. It offers software for large corporate computer systems and serves Fortune 500 companies. According to The Active Network, WingateWeb doubled the size of its business during 2007.
Active Network, which has its headquarters in San Diego’s Sorrento Mesa neighborhood, said the acquired companies will keep their existing offices.
Active bought another meeting planning company, Thriva LLC, last year.
, Brad Graves