Triangle

Morrisville-based SciQuest beats earnings estimates

February 9, 2015

(The News & Observer, Raleigh)

Morrisville-based SciQuest reported fourth-quarter revenues that beat analysts' expectations. The software company, which added 17 new customers in the quarter, also posted net income of $200,000 compared with a loss of $1 million in the fourth quarter of 2013. The company's stock is down 38% over the past year (NCtrend, September 2014)

Quintiles founder steps down as chairman

February 9, 2015

(WRAL TechWire)

Dennis Gillings will step down as chairman of Durham-based Quintiles later this year. Gillings co-founded what is now the world's largest contract-research organization more than three decades ago. He will remain a member of the board.

Durham-based Scynexis announces leadership changes

February 9, 2015

(The News & Observer, Raleigh)

Marco Taglietti will become CEO of Durham-based Scynexis April 1, replacing Yves Ribeill, who will remain president. Chief Medical Officer Carole Stable is also stepping down. Scynexis is developing a treatment for life-threatening fungal infections. 

RTP drugmaker raises $33 million

February 6, 2015

(The News & Observer, Raleigh)

G1 Therapeutics raised $33 million in a round of funding led by Wilmington-based Eshelman Ventures and Boston-based RA Capital Management. The company, based in Research Triangle Park, is developing a treatment to prevent certain cancer cells from replicating.

Citrix layoffs have minimal impact in Raleigh

February 6, 2015

(The News & Observer, Raleigh)

California-based software company Citrix Systems will only lay off a handful of employees at its Raleigh office as part of companywide cuts that will affect 900 workers. Fewer than five local employees will be affected, a company spokeswoman said. 

North Raleigh shopping mall to be sold for $181M

February 5, 2015

(The News & Observer, Raleigh)

Raleigh's Triangle Town Center shopping mall and the adjacent Triangle Town Place shopping center are under contract to be sold to an institutional investor for $181 million. Chattanooga, Tenn.-based CBL & Associates Properties and The R.E. Jacobs Group currently own the properties as part of a joint venture. CBL will retain a 15% stake. Triangle Town Center has 1.26 million square feet of retail space.

Projects transforming downtown Durham

February 5, 2015

(The News & Observer, Raleigh)

Austin Lawrence Partners began site work last week on a 27-story tower in downtown Durham. The Aspen, Colo.-based developer also plans to renovate the adjacent Jack Tar Hotel and five historic buildings.

Morrisville digital-marketing company plans IPO

February 4, 2015

(The News & Observer, Raleigh)

Morrisville-based MaxPoint Interactive plans to raise as much as $75 million in an initial public offering, according to an SEC filing. The company makes and sells software that helps companies identify consumers who live in neighborhoods with particular demographics.

FBI investigates Chapel Hill shootings

February 13, 2015

(The News & Observer, Raleigh)

The FBI has launched an investigation into the killings of three Muslim-American students in Chapel Hill earlier this week. Police said the shootings may have been the result of a parking dispute, but the victims' families believe it may have been a hate crime.

First Carolina Bank to open Raleigh office

February 3, 2015

(The News & Observer, Raleigh)

Rocky Mount-based First Carolina Bank plans to open a loan-production office in Raleigh later this year. Formed in July 2012, the community bank previously known as First Carolina State Bank has three N.C. branches in Greenville, Reidsville and Rocky Mount.

Rex ends contributions to employee pensions

February 3, 2015

(The News & Observer, Raleigh)

Rex Hospital will stop contributing to pensions of its employees who still have the retirement savings plans. The Raleigh hospital eliminated pensions for new hires in 2009. About half of its 5,600 employees – roughly 2,800 – have pensions.

Biogen Idec adding 100 jobs in Triangle

January 30, 2015

(The News & Observer, Raleigh)

Biogen Idec plans to add 100 jobs in Durham and Morrisville to meet demand for its products, which include treatments for multiple sclerosis and hemophilia. The Cambridge, Mass.-based biotech company employs 1,300 in the Triangle.

Citrix to lay off 900 workers

January 30, 2015

(The News & Observer, Raleigh)

Citrix Systems plans to lay off 900 of its 9,500 workers worldwide, though it's unclear whether any of the software company's 600 workers in Raleigh will be affected. Santa Clara, Calif.-based Citrix acquired Raleigh-based Sharefile in 2011 and opened a new, 170,000-square-foot office in the city's warehouse district last fall.

Duke Realty selling Triangle office buildings for $1.1B

January 29, 2015

(The News & Observer, Raleigh)

The Triangle's second-largest landlord will sell all 23 of its local office buildings as part of a $1.1 billion portfolio sale that includes 62 properties in four states. Indianapolis-based Duke Realty will sell the properties, including Morrisville's Perimeter Park, to a joint venture led by Starwood Capital Group.

SAS revenue reached $3.09 billion in 2014

January 29, 2015

(The News & Observer, Raleigh)

SAS' 2014 revenue totaled $3.09 billion, up from $3.02 billion in 2013. Revenue from the Cary-based software company's cloud business rose 24% in 2014. SAS added 193 workers last year at its headquarters, where it employed 5,353 at year-end.

IBM layoffs have begun at RTP

January 29, 2015

(The News & Observer, Raleigh)

Job cuts are underway at IBM locations across the nation, including at Research Triangle Park. The company previously confirmed it would lay off thousands of workers, though it declined to provide details. For the last several years, IBM has refused to disclose how many workers it has at RTP or details of past layoffs.

IBM union reports job cuts to begin Wednesday

January 28, 2015

(WRAL TechWire)

Many IBM employees have told a workers' union that layoffs related to a restructuring will begin Wednesday. The Armonk, N.Y.-based technology company confirmed Monday it plans to cut 10,000 jobs worldwide, though it is unknown how many will be in the United States.

Cree LED bulbs to light up the Super Bowl

January 28, 2015

(The News & Observer, Raleigh)

When the New England Patriots face the Seattle Seahawks at Sunday's Super Bowl XLIX , 44,928 Cree LED bulbs will light up Arizona's University of Phoenix Stadium. The Durham company's 312 LED fixtures are 75% more energy efficient and provide double the illumination of traditional fixtures.

IBM calls report of massive layoffs 'baseless'

January 27, 2015

(The News & Observer, Raleigh)

IBM denied a Forbes report that said it planned to lay off one-fourth of its workforce, or more than 100,000 people. The Armonk, New York-based tech company employs several thousand people in Research Triangle Park.

Yadkin Financial reports net income of $14.7M

January 27, 2015

(The News & Observer, Raleigh)

Raleigh-based Yadkin Financial reported $14.7 million in fourth-quarter net income. The parent of Yadkin Bank, which was formed in July when Raleigh-based VantageSouth Bank merged with Elkin-based Yadkin Bank, added $332.6 million in new loans and commitments in the fourth quarter.
Related: Read Yadkin Financial CEO Scott Custer's latest BankNotes blog post: Remaining Community