Triangle

Wilmington Chamber supports controversial CSX project

January 26, 2016

(Greater Wilmington Business Journal)

The Wilmington Chamber of Commerce issued a statement supporting the proposed CSX intermodal freight hub near Interstate 95 in Johnston County, citing potential benefits to the ports and Eastern N.C. businesses that use them. Johnston County commissioners have said they support the $272 million project, though they are urging CSX to seek an alternative site after some landowners objected to selling their properties to the rail company.

Coty to invest $19M in Sanford plant

January 25, 2016

(The Fayetteville Observer)

Beauty-products manufacturer Coty plans to add 25 jobs and invest $19 million at its plant in Lee County, where the company employs more than 750 people, plus several hundred contractors. New York-based Coty announced in July it is acquiring 43 of Procter & Gamble's beauty and cosmetics brands for $12.5 billion.

CEO of Durham's Carolina Theatre resigns

January 25, 2016

(The News & Observer, Raleigh)

Bob Nocek resigned Friday as president of Durham's Carolina Theatre. Last month, the board discovered that the organization was more than $1 million in debt, $800,000 more than it had previously realized. Nocek has led the nonprofit since 2010.

Utah company buys Southern Pines marketing agency

January 25, 2016

(The Pilot, Southern Pines)

Utah-based Clearlink has acquired buyCalls, a marketing agency based in Southern Pines. The company will operate as a division of Clearlink and will remain in Southern Pines. Clearlink has more than 1,200 employees; brand partners include ADT, AT&T, Progressive and Verizon.

Former Microsoft exec named Citrix CEO

January 22, 2016

(The News & Observer, Raleigh)

Kirill Tatarinov, 51, will become president and CEO of Citrix Systems on Monday. He replaces interim CEO Robert Calderoni, who has been filling in since N.C. State grad Mark Templeton retired in October. Tatarinov was executive vice president of Microsoft's business solutions division from July 2007 to July 2015. Citrix, which acquired Raleigh's ShareFile in 2011, employs about 600 in downtown Raleigh.

CSX project faces opposition from landowners

January 21, 2016

(The News & Observer, Raleigh)

Jacksonville, Fla.-based CSX plans to build a $272 million container hub on 450 acres in Johnston County, but some landowners are telling the railroad giant their properties aren't for sale. State law allows private railroad companies such as CSX the power of eminent domain, which means they can forcibly take land for a fair-market price.
Also: Johnston County commissioners oppose CSX cargo hub plans

Raleigh's Capital Bank could move HQ to Charlotte

January 21, 2016

(The Charlotte Observer)

Capital Bank is considering relocating its headquarters to the Queen City after regulators approve its proposed $350 million acquisition of Charlotte's CommunityOne Bancorp. Capital Bank will have nearly $10 billion in assets when the deal closes, expected to be in the first quarter.

Wegmans to open first NC grocery store

January 20, 2016

(The News & Observer, Raleigh)

Wegmans Food Markets, an 88-store chain based in Rochester, N.Y., plans to open its first North Carolina store in Cary. Consumer Reports ranked Wegmans, which has stores in New York, Massachusetts and across the Mid-Atlantic region, the No. 1 supermarket in the U.S. in 2015. The grocer earned high marks for produce, freshness, baked goods and overall shopping experience.

Durham's Clinverse bought by Pennsylvania company

January 20, 2016

(The News & Observer, Raleigh)

Clinverse, a Durham-based software company with about 60 employees, has been acquired by Bioclinica, a privately held Pennsylvania pharmaceutical-services company with about 2,000 employees, for an undisclosed amount. Clinverse's cloud-based software is used by drug companies and CROs.

Cree shares rise in after-hours trading

January 20, 2016

(WRAL TechWire)

Durham-based Cree reported second-quarter earnings of $14 million, with adjusted earnings of 30 cents per share, beating Wall Street expectations of 24 cents per share. Shares rose more than 5% in after-hours trading on Tuesday. The LED-maker said it is delaying the spinoff of its Wolfspeed power and radio-frequency unit until later this year.

WRAL switches network affiliation to NBC

January 18, 2016

(WRAL.com)

After 30 years as a CBS affiliate, WRAL in Raleigh is changing to NBC on Feb. 29. "As the industry continues to change, we believe this switch to NBC positions us well for the future," Jim Goodmon, president of WRAL parent Capitol Broadcasting, said in a statement. WNCN will become a CBS affiliate for the Triangle area.

Morrisville's Overture Networks acquired for $35M

January 14, 2016

(WRAL TechWire)

Munich-based ADVA Optical Networking said it will buy Morrisville-based Overture Networks for $35 million. Founded in 2000, Overture provides Ethernet networking technology and also has offices in Massachusetts and India.

Chapel Hill's TrueBridge exceeds goal, raises $400M

January 14, 2016

(PEHub.com)

TrueBridge Capital Partners closed its fourth venture fund, raising $400 million – exceeding its target of $325 million. The Chapel Hill-based firm now has more than $1.6 billion in assets under management. TrueBridge invests primarily in funds focused on early-stage IT companies in northern California, according to the release.

Parker Poe law firm opens Atlanta office

January 14, 2016

(The Charlotte Observer)

Charlotte-based Parker Poe Adams & Bernstein has opened an Atlanta office, its sixth location and the first outside of the Carolinas. Several attorneys previously with McGuireWoods LLP have joined the firm, including Robert Florence, whose background is in the pharmaceutical industry.

MetLife plans to spin off life insurance business

January 13, 2016

(The Charlotte Observer)

Insurer MetLife says it is considering a spinoff, sale or initial public offering of its life insurance business and the new company would be based in Charlotte, where the New York-based company employs more than 1,500. A company spokesman said the changes would have no impact on its Cary Global Technology Campus, which employs more than 1,000 people.

Lenovo gains market share amid shrinking PC sales

January 13, 2016

(WRAL TechWire)

While global sales of PCs continue to decline, there was one bright spot for Lenovo, which has its North American headquarters in Morrisville. In the fourth quarter, the company slightly increased its global market share, and its PC sales in the U.S. were up 21%. 

Investment startup could be just what the doctor ordered

January 13, 2016

N.C. Budget Director Lee Roberts left state government last week to join a startup asset management company called SharpVue Capital, whose parent company is Medical Mutual Insurance, the Raleigh-based company that sells medical malpractice insurance to more than 10,000 physicians in 27 states.

Raleigh software company bought by Texas private-equity firm

January 12, 2016

(The News & Observer, Raleigh)

Consolidated Asset Recovery Systems was acquired for an undisclosed amount by Greenridge Investment Partners. Consolidated Asset provides Internet-based software that helps lenders manage and sell repossessed property. The company expects to add seven to 10 new employees to its existing 63 in 2016.

Tech problems cause backlog for Blue Cross NC customers

January 8, 2016

(The News & Observer, Raleigh)

A technology upgrade is causing headaches for Blue Cross and Blue Shield of North Carolina customers who have been unable to confirm coverage. The health insurer said call volume is 400% to 500% higher than the same time last year. Durham-based Blue Cross blamed the implementation of a new customer records system for delays in processing Affordable Care Act applications.

Lenovo, Google team up on 3-D smartphone

January 8, 2016

(WRAL.com)

Lenovo will partner with the tech giant on a 3-D augmented smartphone that will "become a magic window into the physical world by enabling it to perceive space and motion that goes beyond the boundaries of a touch screen," according to a Google representative at the annual CES technology show in Las Vegas. Also, Lenovo said it is dropping the Motorola brand name from its phones. The company paid $2.9 billion for Motorola Mobility in 2014.