Triangle

Wake Forest-based PowerSecure acquires Florida data center

October 15, 2014

(WRAL TechWire)

Wake Forest-based PowerSecure International bought a data center owned by St. Petersburg, Fla.-based Power Design in a deal worth up to $15 million. Wake Forest-based PowerSecure provides energy  services to electric utilities and their commercial and industrial customers.

Cape Fear Valley considers partnership with Harnett Health

October 14, 2014

(The Fayetteville Observer)

The board of trustees of Fayetteville-based Cape Fear Valley Health could vote later this month on a proposed partnership with Harnett Health System in Dunn. Harnett Health operates hospitals in Dunn and Lillington, along with clinics and rehabilitation centers in Harnett and Johnston counties.

Southern Season to open holiday pop-up shops

October 14, 2014

(The News & Observer, Raleigh)

Southern Season will open holiday pop-up shops in Charlotte and Raleigh to introduce its brand and products to those markets while the company searches for additional permanent locations. The Chapel Hill-based specialty-foods retailer plans to open a permanent store in Charlotte in late 2016 and one in Raleigh, possibly by 2017.

President of William Peace University to retire

October 14, 2014

(The News & Observer, Raleigh)

Debra Townsley will retire as president of William Peace University after five years in the position. Townsley oversaw the school's transition from a women's college to a co-ed university in 2012. She will leave when her contract expires June 30 to pursue other interests and spend time with her grandchildren.

Triangle to host entrepreneurial summit in 2015

October 14, 2014

(WRAL TechWire)

The Triangle will host the 2015 UP America Summit, an event that is expected to draw nearly 200 entrepreneurs from across North America. Dates haven't been announced.

Durham tech startup gets 12,000 pre-orders for fitness device

October 13, 2014

(The News & Observer, Raleigh)

A Durham-based technology startup says it has received 12,000 pre-orders for a wearable fitness-tracking device for kids. Squord (pronounced "scored") CEO Coleman Greene says the company expects to sell 15,000 Squord Boosters by year-end.

Raleigh tech hub signs e-textbook company as first big tenant

October 10, 2014

(WRAL TechWire)

Raleigh-based Vital Source Technologies signed on as the first major tenant at 227 Fayetteville St., a 10-story office building in downtown Raleigh that was formerly occupied by Wachovia and is undergoing an $8 million renovation. The e-textbooks company, a subsidiary of Nashville, Tenn.-based Ingram Industries, will lease 20,000 square feet.

Longtime Raleigh Chamber CEO to retire

October 9, 2014

(The News & Observer, Raleigh)

Harvey Schmitt will retire as CEO of the Greater Raleigh Chamber of Commerce after 21 years in the post. Schmitt, 65, said in an statement he plans to remain in Raleigh and he is not calling this a retirement. 

Former Wachovia building could become Raleigh tech hub

October 9, 2014

(WRAL TechWire)

Developers will host a media event this morning regarding a 10-story office building in downtown Raleigh where New York-based LRC Opportunity Fund announced an $8 million renovation in January 2013. A website for the 227 Fayetteville Street says the 110,000-square-foot building will provide office space for "small startup businesses and entrepreneurs."

Raleigh-based Red Hat completes $700 million offering

October 9, 2014

(The News & Observer, Raleigh)

Red Hat completed a previously announced sale of $700 million worth of senior convertible notes and plans to use $375 million of the proceeds to repurchase shares of its common stock. The Raleigh-based software company will use another $257 million for general corporate purposes that could include future acquisitions.

NC Bankers Association names new president

October 8, 2014

(The News & Observer, Raleigh)

The N.C. Bankers Association named Peter Gwaltney president and CEO effective Jan. 2. Gwaltney, 51, has been CEO of a Memphis, Tenn.-based foundation for the past seven years and was chief executive of the Louisiana Bankers Association from 1999 to 2006. He replaces Thad Woodard, who has led the Raleigh-based trade group since 1997 and is retiring (Statewide, June).

Raleigh-based CRO files for IPO

October 8, 2014

(The News & Observer, Raleigh)

INC Research hopes to raise as much as $150 million in an initial public offering, securities filings show. The Raleigh-based contract research organization, which employs 5,400 people in 50 countries, plans to use proceeds to pay off debt.

Texas Ebola patient receives Chimerix drug

October 7, 2014

(The News & Observer, Raleigh)

A Liberian man infected with the Ebola virus is being treated with brincidofovir, an experimental drug made by Durham-based Chimerix, at a Dallas hospital. The U.S. Food and Drug Administration approved an emergency request for the drug, which is being tested as a treatment for a variety of viruses.

RDU airport authority offers $2.1 million incentive for international flight

October 7, 2014

(The News & Observer, Raleigh)

Raleigh-Durham Airport Authority said it will offer $2.1 million in first-year incentives to add a new international service − specifically a direct flight to Paris or Frankfurt – and leaders are urging local governments and civic groups to match the investment.

Durham's Argos Therapeutics to hire 236 in expansion

October 6, 2014

(The News & Observer, Raleigh)

Argos Therapeutics will receive up to $9.5 million in state and local incentives to expand its Durham headquarters and add a manufacturing plant. The drug developer will hire 236 people with an average annual salary of $90,725 by 2018. Argos has no drugs on the market, but its experimental cancer treatment is in phase III clinical trials.

Salix calls off Cosmo merger

October 6, 2014

(WRAL TechWire)

Amid rumors of a potential acquisition by Botox-maker Allergan, Raleigh-based Salix Pharmaceuticals has called off its pending $2.7 billion merger with Italy's Cosmo Pharmaceuticals. The drug developer said a tougher U.S. tax policy on moving companies overseas was the reason.

Aseptia co-founder departs company

October 6, 2014

(The News & Observer, Raleigh)

Michael Drozd, CEO and co-founder of Aseptia, which operates a plant in Montgomery County as Wright Foods, left the Raleigh-based company in July shortly after it announced the completion of $28 million in financing. The company, ranked No. 15 on Inc. magazine's 2014 list of the nation's fastest growing private companies, uses technology to lengthen the shelf life of food products without the use of preservatives.

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.