Triangle

Innovation district unveiled in downtown Durham

October 2, 2014

(The News & Observer, Raleigh)

Developers revealed the first phase of the 1.7 million-square-foot Durham Innovation District on Wednesday. Duke University has already leased the Carmichael Building, part of a former tobacco warehouse that has been renovated into office and laboratory space. The project is being developed by Boston-based Longfellow Real Estate Partners and Durham-based Measurement Inc.

Red Hat plans to sell $700 million in convertible notes

October 2, 2014

(The News & Observer, Raleigh)

Raleigh-based Red Hat plans a $700 million offering of convertible notes that will be sold to institutional investors. The software company plans to use up to $400 million of the proceeds to repurchase shares of its common stock, while the rest of the proceeds could be used for general corporate purposes and potential acquisitions. The company has announced three acquisitions this year.

NC State engineering job fair attracts record crowd

October 1, 2014

(The News & Observer, Raleigh)

A record 373 employers were on hand for the first day of N.C. State University's biannual engineering career fair. About 4,000 job seekers turned out for the event held at the McKimmon Center in Raleigh.

Moore County country club for sale

October 1, 2014

(The Fayetteville Observer)

Seven Lakes Country Club, which has seen its membership decline in recent years, is for sale. The Moore County golf club, opened in 1976, will accept sealed bids until Nov. 6 at noon. General Manager Mike Floyd said the club needs about $3 million to $4 million in repairs.

CRO acquires Singapore company

October 1, 2014

(The News & Observer, Raleigh)

Chiltern has acquired Singapore-based Pacific Clinical Research, allowing the contract research organization to double its presence in the Asia-Pacific region. The United Kingdom-based company acquired Cary-based Ockham in July and has operations in Wilmington.

Announcement planned for Durham redevelopment project

September 30, 2014

(WRAL TechWire)

Developers will unveil plans for the "Durham Innovation District" on Wednesday, a downtown project with 1.7 million square feet of office space plus apartments and retail. The project, which will have an emphasis on life-science companies, is led by Boston-based Longfellow Real Estate Partners and Hank Scherich, founder and president of Durham-based Measurement Inc.

Allergan shareholders urge board to delay decision on Salix acquistion

September 30, 2014

(The News & Observer, Raleigh)

Two of Allergan's largest shareholders sent letters to the company's board advising them against making a deal to acquire Raleigh-based Salix Pharmaceuticals before a Dec. 18 shareholder meeting. The Irvine, Calif.-based company is said to be pursuing the Salix acquisition to fend off a hostile takeover by Canada-based Valeant Pharmaceuticals.

Lenovo to complete acquisition of IBM server unit Wednesday

September 29, 2014

(WRAL TechWire)

About 2,000 Triangle IBM workers will be become Lenovo employees when the computer-maker completes its $2.1 billion acquisition of IBM's low-end server unit on Wednesday. Beijing-based Lenovo, which has its North American headquarters in Morrisville, will move from No. 9 to No. 3 among server manufacturers, behind only Hewlett Packard Co. and Dell Inc. 

Four Oaks Bank names new chief operating officer

September 29, 2014

(The News & Observer, Raleigh)

Four Oaks Bank promoted David Rupp to executive vice president and chief operating officer following the retirement of Clifton Painter. Rupp was senior vice president and strategic project manager at the Johnston County bank since June. Painter, who joined the bank in 1986, will serve as a consultant over the next two years. 

NC's oldest printing companies join together

September 29, 2014

(New Bern Sun Journal)

AlphaGraphics of Downtown Raleigh acquired Commerical Printing Co., a Raleigh-based printing company founded in 1884. AlphaGraphics, now a national franchise and owned by the Andrews family of New Bern for five generations, began as Owen G. Dunn Printing in 1902. Terms were not disclosed. 

LabCorp to buy Raleigh-based LipoScience for $85.3 million

September 26, 2014

(The News & Observer, Raleigh)

LipoScience, a Raleigh-based medical diagnostics company, will be acquired by its largest customer for $85.3 million. Burlington-based LabCorp accounts for about 35% of sales of the company's testing products. LipoScience went public in January 2013 at $9 a share, but hasn't traded above $5.25 a share in the past year.

First Citizens announces board changes

September 25, 2014

(The News & Observer, Raleigh)

Three directors from South Carolina-based First Citizens Bank and Trust will join the board of First Citizens Bank when the two banks complete their $600 million merger next week. Ten members of the Raleigh-based bank's board will keep their positions, while two − H.M. Craig III and Ralph K. Shelton − will resign.

Cisco begins layoffs in RTP

September 24, 2014

(The News & Observer, Raleigh)

Cisco Systems has begun previously announced layoffs at its Research Triangle Park campus and across North America. The San Jose, Calif.-based tech company was awarded $12.9 million in state incentives to add 550 jobs at RTP by 2017. The company will be required to fill vacancies caused by the layoffs before it can count new hires toward the 550 total.

Salix stock rises amid reports of Allergan acquisition

September 24, 2014

(The News & Observer, Raleigh)

Shares of Salix Pharmaceuticals rose 5% in afternoon trading Tuesday amid reports the company is in talks with Allergan, the maker of Botox, about a possible acquisition. It's unknown how an acquisition by Allergan would affect Salix's planned merger with a subsidiary of Italy-based Cosmo Pharmaceuticals. Raleigh-based Salix, which makes drugs for gastrointestinal illnesses, has a market value of $10.7 billion.

VantageSouth branches convert to Yadkin Bank

September 23, 2014

(The News & Observer, Raleigh)

All 41 branches of Raleigh-based VantageSouth Bank have been converted to Yadkin Bank as of Monday. The rebranding is the result of a July merger between VantageSouth Bancshares and Elkin-based Yadkin Financial, which created the largest community bank based in North Carolina, with about $4 billion in assets. 

New Jersey drug maker to pay $100M to settle Salix patent litigation

September 23, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals has reached a $100 million settlement with New Jersey-based Par Pharmaceutical in a patent lawsuit filed by Santarus, a San Diego-based drug maker acquired by Salix earlier this year, and the University of Missouri. 

Decker confident trip to Japan will bring jobs to NC

September 23, 2014

(The News & Observer, Raleigh)

Following a recent trip to Japan, N.C. Commerce Secretary Sharon Decker says she feels "very good" about the state's prospects for attracting an auto manufacturer. Earlier this year, North Carolina lost a Toyota plant to Texas, which has direct flights to Tokyo, despite offering more than double the amount of incentives. "I came back very motivated for us to get direct flights to Asia," Decker said after the 36-hour flight home.

IBM unveils new RTP data center

September 22, 2014

(WRAL.com)

IBM will unveil a 72,000-square-foot data center at its Research Triangle Park campus on Monday. The Armonk, N.Y.-based tech company operates 150 such centers worldwide and employs about 7,500 in RTP. 

Yadkin Bank to test smaller branches

September 22, 2014

(The Charlotte Observer)

Yadkin Bank will open a 1,000-square-foot branch in Raleigh during the next year as a part of a pilot project aimed at cutting costs. The branch will be about one-third the average size of the Raleigh-based bank's branches and will employ two full-time employees and one part-time employee.

Durham's BioCryst receives additional funds for Ebola drug

September 22, 2014

(The News & Observer, Raleigh)

BioCryst Pharmeceuticals announced it could receive another $4 million from the federal government for the development of a potential treatment for the Ebola virus, bringing the total value of its contract with the National Institute of Allergy and Infectious Diseases to $26.3 million.