Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Indiana-based pharmaceutical testing company Inotiv Inc. disclosed late Monday that it expects to incur charges of between $7.4 million and $9.9 million for the previously announced shutdowns of two Virginia animal-breeding facilities.
Fort Wayne-based Steel Dynamics Inc. says a newly announced joint venture with Minnesota-based biocarbon company Aymium will help it meet its goal to achieve carbon neutrality by 2050.
Scale Computing CEO Jeff Ready said the $55 million investment will help the fast-growing company move closer to its goal of an initial public offering.
Indiana-based tech firms attracted a combined $166 million in investments last quarter, according to a report released this week by Indianapolis-based TechPoint. The quarterly total was up sharply from the first quarter, despite the nationwide tech slowdown.
EnVista, which has 850 global employees and expects $185 million in revenue this year, is selling the commerce and transportation parts of its business to Germany-based Körber. Once the deal closes, 400 enVista employees, including its cofounder, will join Körber.
The West Lafayette-based pharmaceutical testing company has seen its stock price soar—and later plunge—following its announcement last fall that it planned to acquire Indianapolis-based Envigo RMS LLC, which breeds and sells animals used in lab testing.
Elevate Ventures’ annual pitch competition takes place Aug. 5 in Fishers, and this year for the first time the event is free and open to the public.
Fishers-based American Acquisition Opportunity Inc. says it has entered into a merger agreement with Royalty Management Corp. in an all-stock deal that values Royalty Management at $111 million. The merger will create a new Fisher-based public company.
At the close of trading June 24, Bloomberg’s Indiana Index was trading at $375.30, up 0.55% from the beginning of the year. The S&P 500 was down 18.45% and the tech-heavy Nasdaq was down 26.59%.
A campaign launched last week by a Windsor, Ontario-based economic development organization is targeting small- to medium-sized tech companies in Indiana and three other midwestern states. The goal is to get them to expand or relocate into Windsor.
Christopher Day, the CEO and cofounder of Indianapolis-based marketing tech firm DemandJump, will take over as CEO of the Indianapolis-based organization on July 18.
The deal, expected to close in the fourth quarter, includes about $500 million in client assets held in about 157,000 accounts associated with more than 3,000 employer groups.
Tech has hit a well-publicized slump, and within the last few months, layoffs have hit big companies like Netflix and Coinbase as well as smaller firms like Zionsville-based 120Water, Indianapolis-based Casted, and Terminus, which is based in Atlanta but has an employee base and its CEO in Indianapolis.
John Wechsler, who will step down as CEO of both Launch Fishers and the Indiana IoT Lab next month, will turn his attention to his latest venture: a startup that makes it easy to create and share videos via QR codes.
InoBat Auto, a Slovakian company that launched in 2019, said Thursday that it plans to open battery R&D and production sites in Indiana, in partnership with New York City-based Ideanomics Inc.
Diego Morales defeated Gov. Eric Holcomb’s appointed Secretary of State Holli Sullivan and two other challengers at Saturday’s Indiana Republican Party State Convention.
The IEDC has contributed $3.4 million toward creating the Indy Innovation Challenge, to encompass both the Indy Autonomous Challenge and potential future competitions focused on performance automation technology.
Holder, the latest startup to launch out of Indianapolis-based venture studio High Alpha, offers a marketing platform built for the emerging era of blockchain technology.
The red-hot tech industry is cooling down, and local industry insiders say they’re preparing for a landscape in which venture funding may be harder for companies to secure.
