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.
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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.
Republic, Rolls-Royce sign on as investors in early-stage air mobility effort
Indianapolis-based Republic Airways, along with Rolls-Royce, are among numerous investors in Eve, an urban air mobility company that aims to develop an international network of electric vertical-lift aircraft.
Canada-based tech firm acquires marketing-tech firm Delivra
Delivra’s new owner, British Columbia-based Redbrick, said the company’s operations will remain in Indianapolis and all of its employees will retain their jobs.
Indy-based parking tech company T2 to be acquired for $347M
T2, founded in 1994, provides parking-management hardware and software to universities, municipalities, parking operators, health care facilities and transportation hubs. It has more than 1,900 customers.
Muncie-based First Merchants to acquire Michigan bank for $323.5M
First Merchants has agreed to acquire Farmington Hills-based Level One Bancorp, which has 16 Michigan banking offices. The deal is expected to close in the first half of next year.
Zionsville-based Clear Software acquired by Microsoft
Clear Software, founded in 2015, offers tools to help simplify and streamline business processes. Microsoft said the acquisition will help it improve its Microsoft Power Platform, which offers a variety of business-oriented tools for users.
First Internet Bank to acquire Georgia-based bank in $80M deal
Fishers-based First Internet says it expects that its $80 million acquisition of Georgia-based First Century Bank will be complete early next year. The deal brings several new product lines to First Internet’s existing offerings.
Marketing tech firm Terminus announces its largest acquisition yet
Terminus, which offers a business-to-business platform that helps marketers connect with potential customers, said its acquisition of Boston-based Zylotech is its fifth acquisition to date, and its largest.
Pyramid Place shopping center changes hands for $10.6M
Chicago-based Cloverleaf Group now owns three retail plazas in the Indianapolis area. Pyramid Place boasts a high density of nearby homes, offices, industrial sites, health-care facilities and highway traffic.
Indy-based startup Pattern89 acquired by Shutterstock in cash deal
Pattern89, founded by R.J. Talyor and launched under the wing of Indianapolis-based venture studio High Alpha, is one of three acquisitions that publicly traded Shutterstock announced Tuesday for a total of $35 million.
Korean auto supplier plans to expand local presence with Franklin facility
Daechang, which makes seating components for Kia, Hyundai and Subaru, established its North American headquarters in Indianapolis in 2017. The Franklin facility would be its second local site.
Indiana Members Credit Union adds Bloomington-based credit union
Indianapolis-based Indiana Members Credit Union will add 2,231 members, two offices and $17 million in assets by adding Members Choice Federal Credit Union through a merger.
Old National Bank merging with Chicago-based bank to create $45B firm
The deal is the largest to date by far for Old National, which has grown dramatically over the past decade through a series of acquisitions.
Indianapolis-based Castle Wealth Advisors acquired by Kansas firm
Castle President and CEO Gary Pittsford, who founded his business in 1973, said the deal will allow the firm to continue to grow, and give it access to a much larger pool of experts and services.
Carmel-based Protective Insurance to be acquired by Progressive
Insurance giant Progressive is purchasing Protective in a stock deal worth $338 million. Protective, known as Baldwin & Lyons Insurance until 2018, is the Indianapolis-area’s 12th largest public company in terms of annual revenue.
Carmel-based CNO acquires employee benefits administrator for $50M
The benefits administrator, DirectPath LLC, offers a variety of technology-driven services for employees and employers.
Why dealmakers expect tech M&A to keep up its red-hot run
Salesforce.com Inc.’s December announcement that it was buying Slack Technologies Inc. for $25 billion—the largest software deal of the year—could spur other companies to revisit their wish lists, advisers said.
Dealmaking activities have largely moved online for social distancing. Will the new habits stick?
Since the pandemic has shifted many of these interactions online, local dealmakers say they feel the loss of assessing non-verbal cues and interactions among members of a management team as they decide whether to acquire companies or invest in startups.
Turner Woodard sells majority stake in historic Stutz property
The new majority owner says it plans to retain the Stutz property’s historic character but isn’t yet revealing details about its plans for the 110-year-old downtown complex.