Cummins to acquire Meritor for $3.7B
Columbus-based Cummins said its acquisition of Michigan-based Meritor, a maker of electric axle and brake technology, will help accelerate Cummins’ electric and hybrid business.
Susan Orr
Articles
First Internet leans into banking-as-a-service trend
Under the relatively rare model, a bank offers its expertise and capabilities to a fintech, allowing the fintech to provide iservices that require the involvement of a federally regulated and insured institution.
UPDATE: Tech startup Qualifi lands $2.5M in seed funding
Indianapolis-based Qualifi, which launched in 2019, offers technology that helps customers quickly screen job applicants using automated phone calls.
Allos Ventures launches $75 million investment fund
Indianapolis-based Allos Ventures, which invests in early-stage business-to-business software companies in the Midwest, said it plans to start making investments from Allos IV right away.
Elanco, High Alpha Innovation launch ag-tech startup Athian
The startup, Athian, aims to help farmers and ranchers measure, and eventually monetize, their efforts to reduce the carbon footprint of their cattle operations.
IUPUI lands $3.7M grant for cybersecurity degree programs
IUPUI is among eight universities to receive the latest round of funding from the National Science Foundation’s CyberCorps Scholarship for Service program, which aims to increase the nation’s supply of trained cybersecurity professionals.
Elements CEO stepping down after 17 years leading credit union
Lisa Schlehuber has served as CEO of Indianapolis-based Elements Financial since 2005. She’ll retire from the role in April, the credit union announced Wednesday.
Cummins to acquire brake manufacturer for $325M
Cummins announced Wednesday that it’s signed an agreement to purchase Connecticut-based Jacobs Vehicle Systems from its current owner for $325 million. The deal is expected to close later this year.
Pandemic forces delay in fraud trial of former Celadon execs
The criminal case against former Celadon executives Eric Meek and Bobby Peavler had been scheduled to begin on Feb. 22, but the judge has rescheduled the trial because local COVID-19 positivity rates are too high.
Use of on-demand execs becomes a growing trend
Rather than hiring full-time executives, companies are increasingly likely to turn to a fractional executive—someone who serves part time, typically on contract rather than as an employee.
Local software firm Woven scores $8M in funding
Woven aims to streamline the hiring software engineers, a process that typically requires skills-testing and multiple rounds of interviews.
Purdue University files patent-infringement suit against Google
The dispute concerns technology that the university says was developed and patented by a team of professors and graduate students to address “power bugs” in mobile phone apps.
Jasper-based German American Bank set to enter Indianapolis market
German American, which has 78 locations in 33 Indiana and Kentucky counties, said it plans to open a loan production office in Greenwood this quarter. It will be the bank’s first physical presence in this market.
As demand to snag remote workers rises, Indy-based MakeMyMove fetches $2.6M
MakeMyMove, which launched about a year ago, will use the investment to scale up and hire several new employees, particularly in the areas of engineering, product development and sales.
Carmel-based tech firm Lumavate scores $6M investment
This is the sixth round of funding Lumavate has announced since its founding in 2015. The company offers a no-code platform that clients can use to create smartphone apps.
An acquisition can be answer to a tight labor market
Keen to beef up their workforces, some local companies are turning to a practice known as acqui-hiring—acquiring employees by buying the company they work for.
Indianapolis-based SEO firm Demandwell lands $5M in seed funding
Demandwell, which offers search-engine-optimization software, says the investment will help it reach growth goals that include tripling its revenues and headcount over the next year.
California-based crypto startup to open central Indiana office
Anchorage Digital, founded in 2017, plans to open a physical office in the Indianapolis area and hire another 10 people here by year’s end.
Criminal case against former Celadon execs headed for court
A four-week fraud trial is scheduled to begin Feb. 22 for Celadon’s former president and chief operating officer, Eric Meek, 41, and its former chief financial officer, Bobby Peavler, 42.
Tech firm Ironclad lands $150M in investment, plans to grow Indianapolis office
Ironclad, which allows users to negotiate, sign and manage online contracts, established a local presence when it acquired Indianapolis-based PactSafe a year ago.