WESTSIDE
SANTA MONICA
Shot in Arm: Arrowroot Capital, a Santa Monica investment firm focused on software and Internet businesses, has invested $4 million in MedNet Solutions, a life-sciences technology company in Minnetonka, Minn. The funding will go toward MedNet’s growth as well as the development of its iMedNet EDC clinical technology platform.
Arts and Crafts: Demand Media Inc., a Santa Monica digital media company, has sold Creativebug, a San Francisco online video arts and crafts business, for $10 million to Otter Media. Otter is a video venture formed by AT&T Inc. and Chernin Group that announced plans in April to invest $500 million in acquiring and launching large-scale video services.
SAN FERNANDO VALLEY
CHATSWORTH
Lift-Off: Ontic, a Chatsworth supplier of aftermarket aerospace parts, has signed licenses to service commercial and military aircraft for Safran Power Systems, a division of Paris aerospace company Safran Group. Ontic, a subsidiary of London’s BBA Aviation, will provide services for aircraft including the Boeing 737NG commercial jet and Lockheed Martin C-130J military transport plane. Financial terms of the deal were not disclosed.
CALABASAS
Still on Board: Ixia, a Calabasas maker of computer networking software, will continue to be listed on Nasdaq, if certain conditions are met. The company failed to file quarterly reports in the fall after the resignation of its chief executive. Ixia faced delisting for missing those filings, but its new filing plan has been approved by the exchange.
SYLMAR
Industrial Acquisitions: Encino’s Selective Real Estate Investments has purchased a pair of Sylmar industrial buildings for $9.1 million from Anaheim’s Eaco Corp. The two properties, at 12458-12460 Gladstone Ave., total 67,060 square feet and were 100 percent leased at the time of sale.
SOUTH BAY
TORRANCE
Residential Pickup: A private investor has acquired a Torrance apartment building for $5.15 million from a private trust. The 19-unit, 22,953-square-foot property at 3711 Emerald St. was built in 1976.
CENTRAL AREA
LARCHMONT VILLAGE
Dig In: Burger Lounge, a La Jolla-based chain specializing in grass-fed beef, has opened an outpost in Larchmont Village. The new location, at 217 N. Larchmont Ave., is the chain’s 13th.
DOWNTOWN LOS ANGELES
Moving In: Burnham Brown, an Oakland law firm covering a range of services, has opened an office in downtown Los Angeles. The new outpost, in City National Plaza at 515 S. Flower St., will be led by Cathy Arias.
TRI-CITIES
PASADENA
Powered Up: Tetra Tech Inc., a Pasadena engineering services company, has been awarded a five-year, $64 million contract to provide technical assistance for the Power Africa Transactions and Reform Program, which is funded by the U.S. Agency for International Development. Under the program, Tetra Tech will work to accelerate the generation and transmission of sustainable electric power in regions throughout Africa.
