Orange County Register

Two Orange County businesses have been sold to nonlocal entities.

MSC .Software Corp. in Santa Ana will be taken private by by Symphony Technology Group in Palo Alto and Elliott Management in New York in an all-cash deal valued at $360 million. MSC shareholders will receive $7.63 per share.

MSC makes software to simulate the design and testing of manufactured products. Symphony is a private equity firm and Elliott is a private investment firm. The deal is expected to close in the third quarter.

In a separate deal, Synovis Life Technologies Inc. in St. Paul will pay $12.1 million in cash to acquire the assets of  Pegasus Biologics Inc. , an Irvine medical device firm. Synovis had won the assets in an auction.

Pegasus, which had conducted clinical trials involving 10,000 patients of  technology to repair soft tissue, closed in May. It had raised $38 million in venture capital and debt financing and had 2008 revenue of $9.1 million.

Other acquisition stories….

• O.C. college buys a trade school
• O.C. company buys its 10th business
• Private equity investments hit 7-year low
• Veteran O.C. angel sees trouble for entrepreneurs
• O.C. company buys competitor
• State pension fund may hike equity investments
• O.C. manufacturer acquires helmet technology
• O.C. company buys neighbor
• O.C. firm bought by Massachusetts company
• Medical firm buys Illinois business
• O.C. companies buy other entities
• Company sells its broadband line

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