Booster groups Indy Partnership, Develop Indy to merge
Local economic development groups Indy Partnership and Develop Indy plan to combine operations to save money and more effectively pitch the city and region to potential job creators.
Mergers & Acquisitions
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Klipsch selling for $166M, Audiovox says
Klipsch will become a subsidiary of Audiovox and operate as a stand-alone operation in Indianapolis under the leadership of the current management team, Audiovox said.
Marcadia may fetch up to $537 million in sale
The December sale of Carmel-based Marcadia Biotech to Roche garnered at least $287 million—and as much as $537 million—for the company’s owners and could lead the Marcadia management team to launch a firm using one of Marcadia’s experimental diabetes medicines.
21st Century Fund pockets a payoff from sale
The state’s principal fund investing in high-tech companies has reached a milestone—for the first time recouping all the money it granted an emerging company, and then some.
Simon Property abandons offer for Capital Shopping
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
Ratio Architects acquires North Carolina firm
Ratio Architects Inc., the area’s fourth-largest architectural firm, has acquired Cherry Huffman Architects in Raleigh, N.C.
Duke Energy plans acquisition, new CEO
Duke Energy Corp. announced Monday an agreement to buy Progress Energy Inc. and put Progress CEO William Johnson in charge of what will be the largest U.S. utility.
Audiovox agrees to buy local speaker maker Klipsch
Audiovox said in a statement, though, that the deal is “subject to a number of contingencies.” Indianapolis-based Klipsch was founded in 1945 and has 130 local employees.
Roche aims to prevent bidding war for software firm
The Swiss company, which operates its North American business out of Indianapolis, filed a lawsuit late last month against Virginia-based Medical Automation Systems Inc. for breaching the purchase agreement the companies signed back in October.
OfficeWorks acquires competitor’s local operations
Fishers-based furniture dealer and office space designer is purchasing the assets of Columbus, Ohio-based Continental Office Environment’s Indianapolis location on East 33rd Street. Both companies are Herman Miller dealers.
Shareholders approve FinishMaster deal
FinishMaster Inc.’s shareholders this week approved a deal to sell the Indianapolis-based company to a subsidiary of Uni-Select Inc. for $172 million.
Simon target’s valuation ‘out of reach’ for Indianapolis firm
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
Aprimo sale may usher in ‘new wave’ of tech deals
Observers say conditions are ripening for more deals like the recent $525 million sale of Aprimo Inc. in the months ahead—not only among IT firms, but also among biotech companies here.
Old National Bancorp completes Monroe Bancorp buyout
Evansville-based Old National Bancorp on Monday said it completed its previously announced takeover of Monroe Bancorp of Bloomington, a deal worth about $90.1 million.
Simon loses battle for General Growth
Just as shoppers began spending more cash at Simon Property Group Inc. malls, the Indianapolis real estate giant tried to open its own wallet for three huge deals—to mixed results.
UPDATE: Aprimo will stay put after $525M acquisition
Marketing software company Aprimo Inc. will stay in Indianapolis after being sold for $525 million to Dayton, Ohio-based based data storage giant Teradata Corp., Aprimo CEO Bill Godfrey said Wednesday.
Platinum Equity wraps American Commercial buyout
The sale of inland marine shipping company American Commercial Lines Inc. to an affiliate of Platinum Equity closed on Tuesday. Jeffersonville-based ACL was one of the state’s largest public companies.
Software firm Aprimo to be sold for $525M
Indianapolis-based marketing software maker Aprimo Inc. will be sold to an Ohio data-storage company for $525 million, Teradata Corp. said Wednesday. Aprimo, led by co-founder Bill Godfrey, pulled plans to go public two years ago.
Lilly Alzheimer’s imaging agent to get priority FDA review
Eli Lilly and Co. said the Food and Drug Administration will perform a faster review of florbetapir, an imaging agent that may help diagnose Alzheimer's disease.
Simon Property likely to continue pursuit of British mall owner
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."