Driver’s Seat: Edmunds.com, a Santa Monica car-shopping website, has acquired CarCode, its first acquisition. Startup CarCode, a mobile service that allows vehicle shoppers to engage in one-on-one text messaging with dealers, entered and won Edmunds’ Hackomotive challenge in February and then received further guidance through Edmunds’ three-month Fastlane Accelerator program. Financial terms of the deal were not disclosed.
Heating Up: SolarReserve, a Santa Monica solar power tech developer, has acquired a solar power division of Canoga Park aerospace and defense company Aerojet Rocketdyne. The acquisition includes solar power-related intellectual property and patents. Employees in the Aerojet Rocketdyne division will join SolarReserve. Financial terms of the deal were not disclosed.
SAN FERNANDO VALLEY
Healthy Injection: Cal State Northridge has received a $22 million grant from the National Institutes of Health to promote diversity in the nation’s biomedical workforce. The grant is the largest received by the university. The money will fund the Build@CSUN program to create strategies for recruiting and retaining minority researchers in the biomedical field.
On Money: Tipalti, an Agoura Hills provider of cloud payout services, has received $13 million in a Series B funding round led by Chicago’s Wicklow Capital. Tipalti plans to use the money to grow its sales and marketing, among other general corporate purposes.
Tapping Investors: Fireman’s Brew, a Canoga Park beer maker, has announced a private offering of up to $6 million through online platform FlashFunders.com. The offering, which will extend to Jan. 14, will allow accredited investors to purchase shares priced at $1.25.
Package Deal: Stamps.com, an El Segundo provider of online postage services, has acquired St. Louis e-commerce shipping software company ShipWorks for $22 million in an all-cash deal. ShipWorks, which works with online sellers such as Amazon to offer multicarrier shipping options, will operate as a wholly owned subsidiary.
Retail Pickup: Santa Monica’s Metro Properties has acquired a Torrance retail property for $10.7 million from Holt Group Inc. of Vancouver, Wash. The 23,438-square-foot Pacific Plaza, at 2382-96 Crenshaw Blvd., was built in 1992 and was fully occupied at the time of sale.
Shopping Complex: An investment group led by Progression Real Estate Investments has purchased the lease-hold interest in a Palmdale retail property for $18.3 million from L.A.’s Grae Ventures. The 104,811-square-foot Sierra Commons, at 39720 10th St. West, was built in 1994, renovated in 2005 and was 90 percent occupied at the time of the sale.
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