Aliso Viejo, Calif.-based OCTANe will merge with Mission Viejo, Calif.-based Orange County Technology Alliance, keeping the OCTANe name, effective Dec. 31.
“We felt a combined organization could deliver higher value to the partners and accelerate what we’re all about. It creates a bit of a platform for growth services,” OCTANe chief exec Bill Carpou said in prepared remarks.
Through the deal, local technology firms will gain access to OCTANe’s network of investors and advisors and other services, while OCTANe will gain access to more established companies, according to Carpou.
“The merger was the result of many discussions extending back quite some time during which we, the collective leaders and sponsors of both entities, all felt that that combining our resources and activities made a terrific amount of sense for all stakeholders,” OC Tech Alliance chief exec Peter Craig said, according to an Orange County Business Journal report.
The organizations reported that less than 12% of the companies they work with will overlap with the merger.
In August, the California Life Sciences Association said it inked a deal with OCTANe to “accelerate the growth of Orange County’s life sciences sector.”
With the agreement, the CLSA will provide multi-faceted support to OCTANe stakeholders, including state and federal advocacy services, public policy roundtables and industry programs and conferences.