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.
Susan Orr
Articles
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.
High Alpha startup Castiron lands $6M in seed funding
High Alpha launched Castiron in October. The startup offers a platform for culinary artisans to sell their products, connect with customers and run their businesses.
Cummins enters joint venture to boost production of natural-gas-powered vehicles
The agreement between Cummins and Texas-based Rush Enterprises will help Cummins bring natural-gas-powered commercial vehicles to market.
Longtime TechPoint CEO Langellier to step down in May
Mike Langellier has been the president and CEO at Indianapolis-based TechPoint for nine years. The organization will launch a national search for his replacement.
Fishers-based Vibenomics signs audio deal with grocery chain Hy-Vee
Vibenomics, which offers music, advertising and audio messaging for retailers nationwide, says its audio will be heard in the Iowa-based grocery chain’s stores beginning Feb. 15.
Private equity firm that focuses on small companies inks 12 deals since 2018 launch
Monument Microcap Partners has also added three partners and two other employees, plus a branch office in the metro Detroit area.
Indianapolis-based Chuqlab offers crime-fighting transcription tech
Founded in 2019, Chuqlab offers transcription technology for law enforcement agencies, prosecutors and operators of jails and prisons. The company recently received a state incentives offer based on its hiring plans.
Carmel-based GyanSys acquires Vancouver-based Salesforce partner
With the acquisition of British Columbia-based Groundswell Cloud Solutions, GyanSys now has more than 250 employees who work in the firm’s Salesforce practice.