2023 Newsmaker: Cummins CEO Jennifer Rumsey assumes role as company’s board chair
The company has notched several noteworthy accomplishments this year under Rumsey’s leadership.
Susan Orr
Articles
2023 Year in Review: Lilly had a ‘big-deal’ year
Among other big dealmakers in 2023 was Hillenbrand Inc., Jasper-based Kimball International Inc. and Noblesville-based Helmer Scientific Inc.
Solar eclipse activities planned around Indianapolis and beyond in 2024
Communities and groups are planning events large and small for the April 8, 2024, solar eclipse, with a path of totality that will briefly plunge the Indianapolis area and much of the rest of the state into darkness.
2023: A look back at Indiana’s biggest tech-sector investments
Venture investing in tech firms was still sluggish in 2023 as compared to the peak activity of 2021, but a handful of Indiana-based tech companies and venture investors still got some big deals done this year.
Franklin’s Canary Creek Cinemas to close after 24-year run
Canary Creek, which opened in 1999, will screen its last movies this weekend. The theater has historic ties to Franklin’s century-old Artcraft movie theater in downtown Franklin, which continues to operate.
Judge orders asset freeze for shopping-center owner accused in SEC fraud case
A federal judge in Arizona ordered a freeze on the assets of Jonathan Larmore and his company, ArciTerra, whose holdings include seven Indianapolis-area shopping centers and scores of other properties around the country.
SEC accuses retail centers’ owner of fraud
The founder of an Arizona real estate company with scores of retail centers across the country—including seven in the Indianapolis area with a total of nearly 500,000 square feet—is facing federal allegations that he committed a $35 million fraud.
Pacers partnering with sports-tech startup Edge Sound Research
The technology allows sports fans to both hear and feel sounds with greater clarity than they otherwise could.
Cummins agrees to pay nearly $1.7B to settle federal Clean Air Act investigation
Cummins has reached an agreement with the U.S. Department of Justice and will pay $1.675 billion—the largest Clean Air Act settlement in history—to resolve allegations that the company violated the Clean Air Act by installing “defeat devices” in some of its pickup truck engines.
Made in Indiana: Foamnasium blocks by Foamcraft Inc.
The company’s customers were almost exclusively local until the 2019 holiday season, when a new Foamnasium product, Blocksy, became a hit on social media.
Indianapolis tech startup Arrive to go public via merger
Indianapolis-based Arrive, which did business as DroneDek until a rebranding earlier this year, offers smart mailboxes for package delivery.
Marketing-tech firm Hummingbirds expands to Indy after $3.3M investment
The concept of social media influencers being compensated for promoting things online isn’t new, but Hummingbirds’ CEO said what sets the firm apart is its focus on local social media users in targeted cities.
Windsor Wealth Management acquired by fast-growing Corient
Indianapolis-based Windsor Wealth Management had 14 employees and $1.9 billion in assets under management when Corient acquired the firm.
NBA, partners to host pitch contest for Hoosier startups on All-Star Weekend
The contest for diverse-led Indiana-based startups offers a total of $150,000 in cash prizes.
Indiana-based banks see stock-price rebound on horizon
Most of Indiana’s 14 publicly traded banks have seen a significant drop in stock prices at some point this year, in some cases falling more than 50% from their Jan. 3 prices, the first trading day of the year.
High Alpha Innovation launches new fund to boost Notre Dame-affiliated startups
Indianapolis-based High Alpha Innovation announced this week that it has closed on $17.5 million for its new 1842 Fund, which will invest in startups affiliated with University of Notre Dame faculty, students and members of the greater South Bend and Elkhart communities.
Purdue wins $32.5M in patent-infringement lawsuit
A jury found STMicroelectronics infringed on a Purdue patent by making and selling products for a technology related to semiconductor devices used in high-voltage power applications.
Fishers-based tech firm Formstack hires new CEO
Chris Byers, who had been Formstack’s CEO since 2010, said he came to the realization earlier this year that it was time for him to leave the company.
OpenLane plans to expand Canadian presence with $95M acquisition
Carmel-based OpenLane announced Monday that it plans to acquire Manheim Canada from Atlanta-based Cox Automotive in a $95 million deal that’s expected to close within 30 days.
Will AI laws protect consumers or stifle innovation?
Local tech founders and funders have diverse and nuanced opinions on whether new laws governing AI are necessary or whether effective legislation of the technology is even possible.