Briefly in Business

IBM acquires FileNet Corp. of Costa Mesa

IBM announced Thursday its acquisition of Costa Mesa-based FileNet Corp., for about $1.6 billion, pending shareholder approval, regulatory reviews and other standard closing conditions.

The all-cash transaction price comes out to about $35 per share.

IBM will use the content management solutions corporation to build on its February initiative — Information on Demand — which seeks to integrate IBM’s software, services, partners and industry consulting expertise to improve business performance.

A stockholder meeting will be called soon to gain approval and FileNet Corp., plans to file a proxy statement and other documents with the Securities and Exchange Commission. Investors can get a free copy of these when they are available at the Securities and Exchange Commission’s website.

John Laing Homes appoints new executive

Newport Beach-based John Laing Homes announced Tuesday the appointment of Patrick Higgins as the new vice president of sales.

He will manage the homebuilder’s sales team and will oversee the training programs for new employees. Higgins will help lead the private company as it expects to increase home deliveries in California and Colorado and new markets with the backing of Dubai-based Emaar Properties.

The Laguna Hills resident has 20 years of experience in the industry and most recently was the vice president of sales for Centex Homes.

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