Expanded Menu: DineEquity Inc., a Glendale-based operator of restaurant chains, has announced that its IHOP restaurant unit will produce and distribute frozen breakfast items under the IHOP at Home brand. The items, some of which will not be available at the chain’s restaurants, will initially go on sale at Wal-Marts and eventually expand to other outlets.
WEST LOS ANGELES
Condo Project: California Landmark Development, a Westwood-based real estate company, has broken ground on a 25-unit condo project in West Los Angeles. The building, at the southeast corner of Wellesley and Texas avenues, will have two- and three-bedroom floor plans; units are expected to start at around $650,000.
Chipping In: Advanced Photonics Integrated Circuits Corp., a Culver City developer of technology that uses light to transmit information, has formed a $10 million partnership with New York state’s University of Albany. Apic and the university will work on developing and commercializing technology for faster computer chips that use less power.
Honor Roll: Children’s Hospital Los Angeles in Los Feliz has been named one of 11 children’s hospitals on U.S. News & World Report’s 2011-12 Honor Roll. Institutions are selected for the Honor Roll by ranking high in at least four of U.S. News’ assessed medical specialties: cancer, cardiology and heart surgery, diabetes and endocrinology, gastroenterology, neonatology, nephrology, neurology and neurosurgery, orthopedics, pulmonology and urology.
DOWNTOWN LOS ANGELES
Capital Infusion: Open Bank, a downtown L.A.-based community bank, has raised $11.1 million in additional capital through the sale of 3.9 million shares of common stock in a private placement. Open Bank sold the shares to improve its capital ratios.
Internet Award: SteelHouse, a Baldwin Hills e-commerce technology company, has been named a Top 10 Emerging Startup by the Indus Entrepreneurs and was given the global entrepreneurs group’s TiE50 Award. SteelHouse was honored for its technology that helps e-commerce companies target online consumers.
SAN FERNANDO VALLEY
Stock Buyback: DTS Inc., a Calabasas developer and licenser of entertainment sound technologies, plans to repurchase up to 1 million shares of common stock. The company said the buy-back will be funded from available working capital.
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