Santa Barbara Venture Partners closes $11M fund, focuses on established software companies
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2022 Business Hall of Fame: Jesus “Chuy” Loza
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QAD to pay $2.45M in legal fees from dispute over acquisition
Santa Barbara-based QAD announced June 2 it will pay out $2.45 million in legal fees to shareholders who sued to stop the company’s acquisition by Thoma Bravo in 2021. QAD, which provides cloud software for the manufacturing industry, was purchased last year by the private equity firm Thoma Bravo in a transaction worth $2 billion. Read More →
French Hospital CEO Iftiniuk to retire
Alan Iftiniuk will retire at the start of next year as president and CEO of French Hospital Medical Center in San Luis Obispo, after nearly 22 years with Dignity Health, the hospital system announced June 2. Iftiniuk’s official retirement date is Jan. 3, said Sara San Juan, director of marketing and communications for Dignity Health Read More →
Flood of IPOs has slowed to a trickle in 2022
After reaching new heights in 2021, including a $150 million capital raise that closed in July and surpassing $100 million in annual recurring revenue, Santa Barbara-based Impact Technologies was preparing to go public in 2022. But, with rising inflation and interest rates decimating the stock market, the IPO money that was available in 2021 has Read More →
Semtech reports earnings and revenue growth in Q1
Camarillo-based Semtech Corp. reported record sales and rising earnings when it announced its financial results for the first quarter of 2022 on June 1. Semtech, a semiconductor company specializing in Internet of Things applications, saw net income increase in the first quarter of 2022, as the company netted $38 million, or 59 cents per share, Read More →
Dayspring sentenced to 22 months for bribing county supervisor for cannabis permits
The cannabis grower who bribed a San Luis Obispo County supervisor has been sentenced to 22 months in federal prison. Helios Dayspring, who also goes by “Bobby,” was sentenced on May 27 by U.S. District Judge André Birotte Jr. in his Los Angeles courtroom. Dayspring has also paid $3.4 million to the IRS as restitution Read More →
