Lilly to sell off drug for low blood sugar in deal worth up to $1.1B
Worldwide sales of Baqsimi totaled $139.3 million last year, representing less than 1% of Indianapolis-based Lilly’s worldwide revenue of $28.5 billion.
Mergers & Acquisitions
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Safety Management Group acquires Trinity Safety Group
The combination of the two Indianapolis-based firms is expected to to result in increased job opportunities for environmental, health and safety professionals.
Intelinair acquires digital agriculture company
Indianapolis-based precision agriculture startup Intelinair Inc. announced Tuesday it has acquired Aker Technologies Inc., headquartered in Illinois.
UFC parent, WWE combine to form $21.4B sports entertainment company
The deal between the company that runs Ultimate Fighting Championship and WWE catapults WWE into a new era, after functioning as a family-run business for decades.
Troubled Silicon Valley Bank to be acquired by First Citizens
While more than half of Silicon Valley’s assets will remain in U.S. receivership, the First Citizens deal announced late Sunday, at least initially, seemed to achieve what regulators have sought: a shoring up of trust in U.S. regional banks.
Indianapolis-based Studio Science acquires RevTech360
Steve Pruden, CEO of design and innovation consulting firm Studio Science, said the acquisition of RevTech360 adds new technical capabilities to Studio Science’s lineup.
Fishers-based marketing-tech firm Vibenomics acquired
Vibenomics, which has raised about $32 million in investment capital since its 2016 launch, is now owned by Austin, Texas-based Mood Media, a much larger player in marketing tech field.
HNI to acquire Kimball International for $485M
Iowa-based HNI said Wednesday that the acquisition of Indiana-based Kimball International will enhance manufacturing capabilities and create a combined company that can better benefit from post-pandemic trends in the markets it serves.
Carvana debt comes due with business ‘firmly in retreat’
The quarterly loss reported after the close Thursday caps a disastrous year in which Carvana’s stock plummeted 98%, erasing almost $37 billion of market capitalization. Carvana spent $2.2 billion last year to acquire Carmel-based KAR Auction Services Inc.’s physical auto auction business, ADESA.
Amazon closes $3.9B buyout of health company One Medical
Anti-monopoly groups have been calling on the Federal Trade Commission to block Amazon’s purchase of the company, arguing it would endanger patient privacy and give the online retailer more dominance in the marketplace.
Subway sandwich chain exploring sale after record-setting year
Subway, one of the most recognizable names in the industry, has more than 20,000 U.S. locations, making it the largest by store count in the country, dwarfing even McDonald’s.
Primary care remains hot deal target as CVS makes $10.6B bid
CVS Health is seeking to buy Oak Street Health, which runs clinics that specialize in treating Medicare Advantage patients.
Local accounting firm Somerset acquired by two out-of-state players
Somerset CPAs and Advisors, the fifth-largest accounting firm in Indianapolis, is now owned by CBIZ Inc., a financial firm based in Cleveland, and affiliated accounting firm Mayer Hoffman McCann PC.
Westfield-based Storage Solutions acquired by German firm for $375M
Jungheinrich AG sees purchasing the 45-year-old warehouse racking and automation company as part of its strategy to expand its geographic footprint. It says that it intends to keep Storage Solutions’ management team.
Elevance Health buys Louisiana insurer, pushing operations into 15th state
The two companies said the combination builds on a seven-year collaboration in Louisiana through joint ownership of Healthy Blue, which serves Medicaid and Medicare Dual Eligible members.
Pennsylvania-based Northwest Bank to open regional office in Fishers
Pennsylvania-based Northwest Bank, which entered the Indiana market in 2020 with its acquisition of Muncie-based MutualFirst, has been beefing up its local workforce since then.
New ownership plans to keep Fountain Square Brewing Co. in business
Fountain Square Brewing Co., founded in 2011, is expected to reopen for business after a sale closes in mid-January.
Dunham Rubber & Belting acquired by Georgia-based firm
Dunham, a 57-year-old Greenwood-based distributor, fabricator and manufacturer with locations in Shelbyville and Fort Wayne, was purchased by Belt Power LLC.
Taft completes merger with Detroit law firm
Taft is now comprised of more than 800 attorneys across 12 offices in eight primary Midwest markets and the District of Columbia.
2022 Year in Review: Cummins acquires Meritor in deal worth $3.7 billion
Meritor, which had 9,600 global employees pre-acquisition, is a leader in electric axle and brake technology.