Orange County Business Journal, Mar 16-Mar 22, 2009 by Tolkoff, Sarah
Noritsu Set to Buy Photo Kiosk Maker; Kingston Launches Camera Phone Picture Contest
TECHNOLOGY
Santa Ana’s STEC Inc., a maker of flash memory drives for corporate and industrial uses, filled the board seat left by Microsemi Corp. Chief Executive Jim Peterson, who stepped down last month.
The chief executive of the Irvine chipmaker gave up his seat after he was found to have lied on his official biography after a short selling investor spurred an inquiry into his education background.
STEC added Chris Colpitis, the 41-year-old managing director and global head of technology investment banking at Deutsche Bank AG in San Francisco.
Before that, Colpitts spent nine years at Lehman Brothers Holdings Inc., most recently as global head of electronics investment banking.
Microsemi is facing a review by the Securities and Exchange Commission to see if Peterson’s denials of the allegations that he lied about his degrees constitute a misleading of investors.
In January, STEC added Matthew L. Witte, founder of Newport Beach-based private equity firm Marwit Capital, as an independent director.
Witte replaced Vahid Manian, a former Broadcom Corp. head of global engineering who was fired last month after the short selling investor tipped off the company to look into his education credentials.
Irvine-based Broadcom found that Manian didn’t receive a bachelor’s or master’s degree from the University of California, Irvine, as he had stated on his resume.
Photo Kiosk Buy
Buena Park’s Noritsu America Corp., a maker of photograph software, scanners and printers, said it plans to buy a maker of selfservice photo printing kiosks for stores.
Noritsu, part of Japan’s Noritsu Koki Co., is set to buy Vienna, Va.-based Lucidiom Inc. for undisclosed terms.
The deal is expected to close in the current quarter.
Lucidiom makes self-service kiosks that are used in stores that allow customers to upload photos from the Internet, CDs and storage cards and order prints.
Noritsu said it plans to leave Lucidiom’s East Coast operations and management team intact. Lucidiom has roughly 50 workers in all
buy photo kiosk
