Triangle

SAS awarded $79M in damages in trial against British competitor

October 15, 2015

(The News & Observer, Raleigh)

A federal jury found that United Kingdom-based World Programming committed fraud and breach of contract when it reverse engineered portions of a SAS software product to create a knock-off product. Cary-based SAS will be entitled to collect more than $79 million in damages.

Durham approves $7.2M for tobacco warehouse redevelopment

October 15, 2015

(The News & Observer, Raleigh)

Durham city and county governments approved up to $7.2 million in incentives for Wexford Science & Technology to redevelop a former Liggett and Myers cigarette plant. Plans call for an $80 million investment that will include 284,000 square feet of commercial space plus offices, R&D and retail space.

Triangle investment firm raises $2.5M of $4M fund

October 15, 2015

(WRAL TechWire)

Triangle Angel Partners has raised $2.5 million of a $4 million fund, according to a securities filing. The Chapel Hill-based firm invests in early-stage companies based in the Triangle area. Previous investments include Wedpics, Windsor Circle and Stealz.

Food Lion invests $250M in Triangle market

October 14, 2015

(The News & Observer, Raleigh)

Food Lion says it has spent $250 million on employee training and renovations at 162 stores in the Raleigh area. Upgrades include expanded gluten-free, natural and organic offerings and larger produce sections. Food Lion's market share in the area is 19.5%, second only to Wal-Mart, according to Chain Store Guide.

SAS ranks 2nd on global 'Great Place to Work' list

October 14, 2015

(WRAL TechWire)

Cary's SAS Institute, the world's largest privately held software company, landed at No. 2 on the World's Best Multinational Workplaces list. California-based Google was No. 1.

Raleigh could loosen restrictions on food trucks

October 14, 2015

(The News & Observer, Raleigh)

Raleigh city staff is expected to draft a trial program for food trucks to operate on public streets. City council will consider the issue on Nov. 17. Food trucks are currently allowed to serve customers only on private property.

Dell buying major Apex tech employer EMC

October 13, 2015

(WRAL)

Computer maker Dell will buy EMC, a Massachusetts-based data storage company with a large presence in Apex, for about $67 billion. The companies said the combination will create the world's biggest privately held integrated tech company. EMC was awarded a state grant of up to $7.4 million when it announced the creation of 400 new jobs in 2009.

Automotive supplier adding 76 jobs in Lee County

October 13, 2015

(The Fayetteville Observer)

Magneti Marelli Powertrain will invest $12 million and create 76 jobs in Sanford over the next three years in an expansion of its local plant. The Italy-based company makes engines and transmissions components for cars, motorbikes and other light vehicles.

Durham's BioCryst reports disappointing drug-trial results

October 9, 2015

(The News & Observer, Raleigh)

Durham-based BioCryst Pharmaceuticals said Thursday it may discontinue development of one of its experimental drugs for a genetic condition that causes swelling, while frequent side effects marred a clinical study of another drug. BioCryst shares tumbled 18% Thursday.

Rooms to Go to open Dunn distribution center next week

October 9, 2015

(The News & Observer, Raleigh)

Rooms to Go will open a 1.5 million-square-foot facility that includes a distribution center and a retail outlet center in Dunn. The Florida-based company has filled about two-thirds of the 400 jobs it expects to create.

Novant to close Franklin Medical Center next week

October 8, 2015

(WRAL.com)

Franklin Medical Center stopped admitting patients at 6 p.m. Wednesday, though the emergency room will remain open until Oct.16. About 140 employees will lose their jobs. Novant Health had eliminated most inpatient care at the Louisburg hospital a year ago, reducing inpatient beds to 15 from 70.

Netsertive raises $15 million for expansion

October 8, 2015

(The News & Observer, Raleigh)

Morrisville-based Netsertive raised $15 million in a financing led by Cincinnati-based River Cities Capital Funds. The digital advertising company, founded in 2009, expects to add at least 50 employees to its 200 over the next 12 months.

Triangle scientists win Nobel Prize in chemistry

October 7, 2015

(WRAL TechWire)

A trio of scientists that includes professors at Duke University School of Medicine and UNC School of Medicine were awarded the Nobel Prize in chemistry for DNA work that can be used to develop cancer treatments.

Carlyle Group CEO gives $25M for Duke arts center

October 6, 2015

(The News & Observer, Raleigh)

David Rubenstein, co-founder of Washington, D.C.-based investment firm The Carlyle Group, will give $25 million to Duke University for a new arts building. The 71,000-square-foot building, which has an overall price tag of $50 million, will include theaters, studios, offices and classrooms. A 1970 Duke graduate, Rubenstein is chairman of the university's board of trustees.

Morrisville medical-device company to be bought for $149M

October 6, 2015

(The News & Observer, Raleigh)

Ohio-base AtriCure will acquire privately held nContact in a cash and stock deal valued at up to $149 million. Both companies are developing treatments for atrial fibrillation, an irregular heart rate that can cause poor blood flow and lead to complications including stroke.

Tennessee bank completes purchase of Raleigh's TrustAtlantic Bank

October 6, 2015

(Winston-Salem Journal)

Memphis-based First Horizon National, the parent company of First Tennessee Bank, has completed its $80 million acquisition of Raleigh-based TrustAtlantic Financial. TrustAtlantic's five branches will operate as First Tennessee Bank beginning Oct. 19.

LIfe-sciences boom lifts Triangle real-estate market

October 5, 2015

(The News & Observer, Raleigh)

The Triangle real-estate market is getting a boost from life-sciences companies establishing offices or moving to be near other related businesses. While a recent JLL study showed rents for life-sciences companies have increased 12.4% compared with last year, costs are still far less than other life-sciences hubs such as Boston and San Francisco.

Local officials, execs tout RTP modernization

October 2, 2015

(The News & Observer, Raleigh)

Research Triangle Park's ambitious redevelopment project is finally getting off the ground thanks to $50 million in financing, including $20 million from Durham County. Business leaders say it will be an economic engine for the area and provide the kind of work/live space attractive to tech companies and millennials.

RTP redevelopment project to begin Jan. 1

October 1, 2015

(The News & Observer, Raleigh)

The Research Triangle Foundation will begin the first phase of redevelopment of its 50-acre Park Center Jan. 1. Build out of the first phase, which will include a 5,000-seat amphitheater and has sites for hotels, offices and apartments, is expected to take 7 to 10 years.

Raleigh's Highwoods invests $427M in Atlanta, Tampa properties

October 1, 2015

(The News & Observer, Raleigh)

Highwoods Properties will pay $303 million for a two-building office complex in Atlanta's Buckhead area and $124 million for the 35-story SunTrust Financial Center in downtown Tampa. The Raleigh-based REIT also plans to sell a retail and office complex in Kansas City.