Out-of-state firms are sweeping up Indiana’s tech startups. Is that a good thing?
Experts are mixed on whether the buyout barrage is cause for concern or validation of success.
Deals
Articles
Lilly execs: $8B acquisition feeds into cancer drug strategy
Drug industry analysts on Monday applauded Eli Lilly and Co.’s pending $8 billion cash deal to buy a startup that focuses on oncology, which has become a prime focus for the pharma giant in the last year.
Carmel-based Orbis Education to be acquired for $362.5M by public company
Orbis was founded in 2003 by Daniel Briggs, who now serves as the company’s chief growth officer. The firm markets and manages health care programs for academic institutions and health care systems.
Carmel-based Merchants Bancorp to acquire Florida-based lender
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
Greenwood-based One Click Ventures acquired by eyewear heavyweight
Randy Stocklin, who founded the company with his wife, Angie Stocklin, will remain with the company.
Novartis nearly doubled its Endocyte bid during drawn-out courtship
The escalation in per-share price—which far exceeds that of other recent deals involving Indiana public companies—reflects the unique nature of M&A in the pharmaceutical realm.
Endocyte’s $2.1B deal with Novartis comes after years of setbacks
The West Lafayette biotech firm’s stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.
Novartis to acquire West Lafayette-based Endocyte for $2.1B
The deal represents a huge breakthrough for tiny Endocyte, which has about 90 employees in Indiana but has not yet launched a single product.
WESTERHAUS-RENFROW: Angry people win some, but lose more in negotiations
Anger expression is on the rise in the workplace and especially in business negotiations. If you use anger to get the bigger piece of the pie, you might think it’s an effective negotiation tactic.
Dwarfed by rivals, Office360 is growing, acquiring other firms
The Indianapolis-based office-supplies company had revenue near $38 million last year and is on target to hit $43 million this year. If the company hits its projections, revenue will have nearly tripled since 2013.
UPDATE: Cummins loses out on GE’s industrial-engine business
General Electric Co. has agreed to sell its industrial gas engine business to a private equity for $3.25 billion, passing over interest in the acquisition from Columbus-based Cummins Inc.
Texas tech firm acquires High Alpha’s ClearScholar
Founded in 2016, ClearScholar is the second company in the High Alpha portfolio to be snapped up in the last four months.
Hoosier carnival pro buys back big amusement operation on the cheap
It’s been a bumpy ride for North American Midway Entertainment, which was sold in 2015 to a Connecticut-based buyer for $75.5 million. One of its former owners just bought it back for $23.5 million.
Anthem stays on sidelines amid blitz of megadeals
Business history is littered with colossally bad mergers that seemed brilliant at the time. So the insurer might benefit from avoiding the temptation to follow the current trend. Or it could get left in the dust.
Lilly signs licensing deal with biotech startup for diabetes drug
Under the agreement, Lilly will pay Sigilon Therapeutics up to $410 million if the technology hits certain milestones.
Finish Line’s merger with British suitor could pose challenge to Foot Locker
Combining Indianapolis-based Finish Line Inc. and JD Sports Fashion from across the pond could create a firm within striding distance of the sports apparel industry’s heavyweight, according to an analyst.
One of central Indiana’s oldest web developers acquired
New England-based SilverTech Inc. plans to expand to its second market by buying local stalwart Bitwise Solutions, which was founded in 1991.
Tech firm Octiv to be acquired but remain in Indianapolis
Founded in 2010 as Tinderbox Inc., Octiv will continue to operate under its current moniker until leaders determine how it will fit into the brand of Colorado-based document automation firm Conga.
Local ed-tech firm acquired by industry goliath, to keep local presence
VeriCite Inc., a Fishers-based maker of plagiarism-detection software, is being acquired by Turnitin, a Silicon Valley-based leader in the plagiarism-detection industry. Turnitin officials said they will maintain and grow its local presence.
Terry Lee Honda in Avon has new owner, name
The buyer is the same publicly traded firm that purchased Hare Chevrolet last year in Noblesville, and it’s interested in collecting more Indy-area dealerships.