Legal Question in Business Law in California

Sure, you are free to acquire an existing suspended corporation and then revive it if you want. Of course that has to be done through the present owners. You can't just grab a suspended corporate entity.

You can form a new corporation with the same name as the suspended corporation, or you can purchase the suspended corporation from its owners (e.g., by buying its stock). You cannot just step into its shoes, revive and run it as yours without making a deal with its owners.

Just so you know, the name of a suspended corporation is up for grabs by others during the period of any suspension.

I agree with the other comments. Just purchase the business and then bring it current with the Secretary of State. Or, better yet, ask the current owners to bring it current and then purchase it.