Triangle

Botox-maker said to consider Salix acquisition

September 16, 2014

(The News & Observer, Raleigh)

Shares of Salix Pharmaceuticals rose more than 4% Tuesday after CNBC reported that Irvine, Calif.-based Allergan might be considering an acquisition of the Morrisville-based drug developer. Salix announced in July it is merging with Cosmo Technologies, a subsidiary of an Italian pharmaceutical, and moving its headquarters to Ireland.

Shareholders approve First Citizens merger

September 17, 2014

(The News & Observer, Raleigh)

Shareholders of Raleigh-based First Citizens Bank and Columbia, S.C.-based First Citizens Bank and Trust approved a merger of the two banks on Tuesday. First Citizens of Raleigh will acquire South Carolina's First Citizens for about $639.9 million. The deal is expected to close by year-end.

Red Hat opens Silicon Valley office to Triangle startups

September 17, 2014

(WRAL TechWire)

Raleigh-based software company Red Hat will provide work space for Triangle startups associated with the American Underground at its Mountain View, Calif., offices. 

Durham-based Cree files patent infringement suits

September 17, 2014

(WNCN.com)

Durham-based Cree has filed patent infringement lawsuits against two competitors in Wisconsin, where the company has had a strong presence since its 2001 acquisition of Ruud Lighting. The patents protect the lighting company's LED component portfolio, the company said in a statement.

Software company exceeds growth expectations in Raleigh

September 16, 2014

(The News & Observer, Raleigh)

Florida-based Citrix attributes growth in Raleigh to the success of its ShareFile software and a talented pool of workers in the area. The company is relocating to a 170,000-square-foot office near downtown that will allow it to employ about 800 workers. Citrix received state and local incentives in 2012 to increase its local workforce from 130 to 470.

Salix enters agreement with Indian pharma to sell drugs in Canada

September 15, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals signed an agreement to allow Lupin, the third largest Indian pharmaceutical company by sales, to market and sell some of Salix's drugs in Canada. Salix, ranked 12th on Business NC's annual list of Top 75 Public Companies based in North Carolina, announced in July it plans merge with Italian drug maker Cosmo Pharmaceuticals SpA and move its headquarters to Ireland.

Red Hat exec left for job at Google

September 12, 2014

(The News & Observer, Raleigh)

A former Red Hat executive is now vice president of cloud platforms at Google. Brian Stevens, who served as the Raleigh-based software company's chief technology officer for nearly nine years, resigned as of Sept. 5.

Childress Klein buys Cary office building for $12.5 million

September 12, 2014

(The News & Observer, Raleigh)

Charlotte-based Childress Klein Properties paid $12.5 million for a Cary office building. The 93,351-square-foot building was owned by Arcon Group, the real-estate arm of Goldman Sachs.

PNC Bank prospers in Southeast after RBC purchase

September 11, 2014

(The News & Observer, Raleigh)

Jim Hansen, regional president for the Eastern Carolinas at PNC Bank, says the bank is thriving in the Southeast since its 2012 acquisition of Raleigh-based RBC Bank. The Pittsburgh bank has experienced 22% annual revenue growth in Southeastern markets.

Raleigh's PRA Health Services files for initial public offering

September 10, 2014

(The News & Observer, Raleigh)

Raleigh-based PRA Health Services plans to raise as much as $375 million in an initial public offering, according to a company filing with the Securities and Exchange Commission. The world's fourth-largest contract research organization was acquired by private-equity firm Kohlberg Kravis Roberts for $1.4 billion in 2013.

Highwoods acquires Raleigh office building for $92.3 million

September 9, 2014

(The News & Observer, Raleigh)

Highwoods Properties acquired the 374,000-square-foot One Bank of America Plaza in downtown Raleigh for $92.3 million. Raleigh-based Highwoods also sold 14 office and industrial buildings in Greensboro to Virginia-based Lingerfelt CommonWealth Partners for $28.2 million. The REIT has sold $158.8 million in assets so far this year.

Art Pope named to most powerful billionaires list

September 9, 2014

(The News & Observer, Raleigh)

Former state budget director Art Pope is ranked No. 15 on a list of the country's top billionaires who wield the most political influence. Charles and David Koch of Koch Industries tied for first place on the list, compiled by Darrell M. West. West is the author of an upcoming Brookings Institution Press book titled "Billionaires: Reflections on the Upper Crust."

Morrisville tech firm secures $10 million in financing

September 8, 2014

(The News & Observer, Raleigh)

Netsertive, a Morrisville-based digital marketing company, has secured more than $10 million in new financing, including more than $7 million from Durham-based Square 1 Bank. The company, whose clients include Electrolux, Chrysler and Samsung, plans to use the money to invest in technology and personnel.

Bayer CropScience to break ground on RTP greenhouse

September 5, 2014

(The News & Observer, Raleigh)

Bayer CropScience will break ground Monday on a $29.6 million, 29,500-square-foot greenhouse at Research Triangle Park. Construction is expected to be completed by late 2015. 

NC State opens residence hall for entrepreneurs

September 3, 2014

(WRAL TechWIre)

N.C. State opened Innovation Hall, a residence hall that will serve as a headquarters for student entrepreneurs and includes a 24-hour workspace with SMART Boards, 3D printers and a conference room.

Performance Fibers to lay off 200 at Chatham County plant

September 2, 2014

(Winston-Salem Journal)

Performance Fibers will close its plant in Moncure by Oct. 27, laying off about 200 workers. About 60 affected employees could relocate to a Salisbury plant. The Huntersville-based company makes industrial fibers for for use in products including seat belts and tires.

Durham's BioCryst gets another $2.4 million to test Ebola drug

September 2, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals received another $2.4 million from the federal government to test an experimental treatment for the Ebola virus, the company said Friday. The award raises the total amount of the Durham-based drug developer's government contract to $24.4 million.

Red Hat CTO stepping down Sept. 5

August 29, 2014

(The News & Observer, Raleigh)

Brian Stevens, chief technology officer at Raleigh-based Red Hat, will step down Sept. 5 to pursue another opportunity. Stevens joined the open-source software provider in 2001 and became CTO in 2005.

Economic development leaders call for special legislative session over incentives

August 28, 2014

(The News & Observer, Raleigh)

Commerce Secretary Sharon Decker says the state Job Development Investment Grant fund could run out of money by late October unless legislators increase incentives. Decker says the state is pursuing a project that would take 80% of the remaining funds if the company decides to locate in North Carolina. 

Highwoods sells 11 non-core properties in Richmond, Va.

August 27, 2014

(The News & Observer, Raleigh)

Raleigh's Highwoods Properties sold 11 buildings totaling 359,000 square feet in Richmond, Va., for $40.7 million. The real estate investment trust has sold $103.4 million of its non-core properties this year.