Triangle

Durham app developer acquired by Ticketmaster

April 1, 2015

(The News & Observer, Raleigh)

Ticketmaster will acquire Durham app developer Two Toasters for an undisclosed amount. Two Toasters has developed apps for brands including Regal Cinemas, Lexus and Dick's Sporting Goods. Following the sale, the company will work exclusively on Ticketmaster projects.

Durham's BioCryst awarded up to $35M for Ebola treatment

April 1, 2015

(The News & Observer, Raleigh)

Durham-based drug developer BioCryst Pharmaceuticals will receive up to $35 million in federal funding to accelerate clinical studies for its experimental Ebola treatment.

Durham pharmaceutical raises $50M

March 31, 2015

(The News & Observer, Raleigh)

Novan Therapeutics completed a $39.7 million round of financing, bringing the total amount raised since August to $50 million. The Durham-based company, which is developing a treatment for acne, has raised $70 million since 2008.

Apartments revitalize Triangle downtowns

March 30, 2015

(The News & Observer, Raleigh)

The number of high-end apartment units within a mile of downtown Raleigh will double to nearly 3,000 over the next two years, and downtown Durham's population is expected to double following construction of new apartments there.

Triangle companies fare well on Forbes' Best Companies list

March 27, 2015

(Forbes)

Forbes magazine ranked Triangle employers Quintiles, SAS and UNC Healthcare in the top 50 on its first-ever list of America's Best Employers.

 

Rex Healthcare names Burriss president

March 26, 2015

(The News & Observer, Raleigh)

Rex Healthcare has named Steve Burriss president, effective April 1. Burriss, 48, has served as chief operating officer of the Raleigh-based health system since 2012 and was named interim president in January when David Strong announced he was leaving to take a job in Florida. Rex employs 5,600 people at its 660-bed Raleigh hospital.
Rex was ranked No. 1 on Business North Carolina's 2015 list of Top Hospitals in the state. Click here to view the full list.

Red Hat reports strong fourth quarter

March 26, 2015

(The News & Observer, Raleigh)

Raleigh-based Red Hat reported fourth-quarter revenue of $463.9 million, beating analysts' projections of $456.4 million. Revenue for the full year increased 17% to $1.79 billion. The software company also announced that its board of directors approved a stock buyback of up to $500 million.

Campbell University expands health campus with new nursing school

March 26, 2015

(The News & Observer, Raleigh)

Campbell University broke ground Wednesday on a $22 million building that will house the Catherine W. Wood School of Nursing, which already has 110 students enrolled in pre-nursing seminars. The new building also will include space for physical therapy, occupational therapy and medical research programs. The Buies Creek university has established six health-care degree programs in the last five years.

Cary's Dude Solutions acquires Toronto-based software company

March 25, 2015

(The News & Observer, Raleigh)

Dude Solutions is acquiring Toronto-based Windmill Software for an undisclosed amount. Windmill offers a software product that adds support for functions at senior-living centers. The Cary-based software firm, which received a $100 million private-equity investment last year, also has another deal in the works, CEO Kent Hudson said.

RDU fares poorly in report on Internet access

March 25, 2015

(WRAL TechWire)

Raleigh-Durham International Airport ranked 40th out of 50 major airports in a report on performance of wireless Internet and phone service. Research firm Root Metric tested upload and download speeds, Internet browsing and other data to compile the rankings. Charlotte Douglas International ranked 23rd.

3 workers killed at Raleigh construction site

March 24, 2015

(The News & Observer, Raleigh)

Three workers were killed and another was injured Monday when a scaffolding platform fell to the ground at a construction site in Raleigh. Raleigh-based Dominion Builders is developing the 11-story Charter Square building on Fayetteville Street.

GSK cutting 180 jobs at RTP

March 24, 2015

(The News & Observer, Raleigh)

GlaxoSmithKline will lay off 180 workers in its commercial business division at Research Triangle Park. The United Kingdom-based pharmaceutical company said in December it was cutting about 900 jobs in research and development, but about half of those workers shifted to jobs at at new business unit GSK formed with Paraxel. GSK employs more than 5,000 in North Carolina.

Biogen changes name, reports positive results for Alzheimer's drug

March 23, 2015

(The Herald-Sun, Durham)

Biogen reported promising results of an Alzheimer's treatment it is developing. The Massachusetts-based biotech company, which has a manufacturing site in RTP, said Friday that its investigational drug successfully slowed cognitive decline in patients with the progressive neurological disease. The company also shortened its name from Biogen Idec effective Monday.

Lenovo restructures top management

March 20, 2015

(WRAL TechWire)

In a realignment of its top management officials, Beijing-based Lenovo named Gianfranco Lanci, former CEO of Acer, to the newly created position of president. Morrisville-based Jay Parker, president of North American operations, will become senior vice president of the computer-maker's enterprise business and will move to RTP.

M&F Bank continues profitable streak

March 20, 2015

(The News & Observer, Raleigh)

Mechanics and Farmers Bank continued its profitable streak, reporting net income of $810,000 for 2014, up from $126,000 in 2013. The Durham-based bank has recorded a profit every year since it opened in 1908 ("Rewriting History," October 2014).

Former Salix executives to get $46M after Valeant sale

March 19, 2015

(The News & Observer, Raleigh)

The former top executives of Raleigh-based Salix Pharmaceuticals will receive $46 million after the company is sold to Canada-based Valeant Pharmeceuticals. Adam Derbyshire, who resigned as CFO in November, will get $13.3 million in stock and options while former CEO Carolyn Logan will walk away with $32.7 million in stock.

Morrisville gem-maker names Beasley CEO

March 19, 2015

(The News & Observer, Raleigh)

Gemstone manufacturer Charles & Colvard named Marvin Beasley CEO. He replaces Randy McCullough, who announced his retirement this week. Beasley, 71, was CEO of Helzberg Diamonds from 2004 through 2009 and has been a director at Charles & Colvard for the last five years. The Morrisville-based company reported a net loss of $13.1 million for 2014.

Cary-based Pantry to lay off 250

March 18, 2015

(The News & Observer, Raleigh)

Cary-based convenience-store chain The Pantry announced it will lay off 250 workers in Cary and Sanford – about half of its workforce in the two Triangle cities – as a result of the company's merger with Canada-based Alimentation Couche-Tard, which was completed Monday.

Valeant wins bidding war for Raleigh-based Salix

March 17, 2015

(The News & Observer, Raleigh)

Endo International withdrew its bid for Raleigh-based Salix Pharmaceuticals on Monday after Valeant Pharmaceuticals raised its bid from $158 per share to $173 per share. Including debt, the revised deal is valued at $15.8 billion and is expected to close April 1.

AOL founder Steve Case looks to invest in Triangle startup

March 17, 2015

(WRAL TechWire)

Steve Case, co-founder and former CEO of America Online, plans to invest $100,000 in a Triangle startup as part of his third "Rise of the Rest" tour. Case will visit six cities in early May and plans to invest $100,000 at each stop.