Mergers & Acquisitions

Salesforce slow to excite investors after $2.5B buyout of ExactTarget

June 10, 2013
Dan Human
Shares of the California-based cloud computing giant continue to lag after last week's announcement of its $2.5 billion offer for Indy-based marketing powerhouse ExactTarget.
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ExactTarget option gains approach $300MRestricted Content

June 8, 2013
Dan Human
xactTarget Inc.’s sale will swell the value of employee stock options to nearly $300 million—a windfall local tech experts expect will launch a wave of entrepreneurship over the next several years.
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Salesforce to keep ExactTarget independent, 'invest' in it

June 5, 2013
J.K. Wall
In a company memo, ExactTarget CEO Scott Dorsey assures employees of their importance after announcing deal to sell the company for $2.5 billion.
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ExactTarget sale caps success story; CEO mum on Indy work force

June 4, 2013
Greg Andrews, Dan Human, Bloomberg News
ExactTarget CEO Scott Dorsey said the company will remain “very committed to Indianapolis” after its $2.5 billion buyout by tech giant Salesforce.com, but he would not comment on potential changes to the local work force of more than 1,000 employees.
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Celadon acquires Canadian trucking company

May 23, 2013
 IBJ Staff
Hyndman Transport Limited, based in Wroxeter, Ontario, operates about 175 tractors and brought in roughly $48 million in revenue in 2012.
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Lids acquiring Kentucky sporting goods chain

May 20, 2013
Associated Press
The CEO of a private equity firm that helped fund the Lexington-based Fan Outfitters chain said new regulations imposed by the Affordable Care Act prompted the group to look at the offer from Lids.
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Spate of banking mergers may be just the beginningRestricted Content

May 18, 2013
Greg Andrews
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
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Sherry Labs snapped up by Netherlands corporation

April 1, 2013
Jeff Newman
The materials-testing business with nearly 300 employees has been acquired by Element Materials Technology. Sherry had been owned by a group of well-connected central Indiana businessmen.
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ExactTarget lands on tech shopping list for buyout

March 30, 2013
Dan Human
ExactTarget Inc.’s strong position in digital marketing has made the Indianapolis company a tempting acquisition target for Salesforce.com and other tech-industry suitors, Wall Street analysts believe.
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Two of city's largest credit unions set to merge

March 22, 2013
Chris O'Malley
Horizon One Federal Credit Union, founded in 1949 to serve General Motors metal-stamping plant employees in Indianapolis, is merging with Financial Center Credit Union.
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Fortune Industries set to accept $13.3M buyout offer

February 21, 2013
Scott Olson
The proposed buyer is CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler, who first bid for the company last March.
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Office Depot agrees to buy OfficeMax for about $1.2B

February 20, 2013
Associated Press
The move would combine the No. 2 and No. 3 office supply retailers and lead to consolidation in an industry that analysts say is over-stored. Office Depot has eight stores in the Indianapolis area and OfficeMax has five.
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Two neighboring utilities united by fiber in Hancock CountyRestricted Content

February 16, 2013
Chris O'Malley
Unusual merger of Hancock Telecom and Central Indiana Power is paving the way for network deployment in rural areas.
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American, US Airways to merge, create world's biggest carrier

February 14, 2013
Associated Press
The $11 billion deal could well result in the elimination of some overlapping routes the carriers operate out of Indianapolis International Airport. Together, the two airlines have a combined market share of nearly 24 percent in Indianapolis.
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Calumet's 2012 profit rockets to $205.7 million

February 13, 2013
Dan Human
An acquisition spree helped oil refiner Calumet Specialty Products increase profit almost five-fold in 2012, the Indianapolis-based company reported Wednesday morning.
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Firm's Klipsch purchase hasn't rocked Wall StreetRestricted Content

February 9, 2013
Dan Human
Voxx International Corp.’s $166 million buyout of Indianapolis-based speaker maker Klipsch Group two years ago so far hasn’t generated the excitement on Wall Street that Voxx wants.
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Barnes & Thornburg's longtime chief gives suitors cold shoulderRestricted Content

February 2, 2013
Scott Olson
Alan Levin has been managing partner of Barnes & Thornburg LLP for 16 years, far longer than the heads of most major Indianapolis law firms. But what most sets him apart is that he’s built his firm into a national practice by taking the maverick approach of going it alone instead of merging with an out-of-state rival.
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Local buyout firm acquires New York shapewear maker

January 23, 2013
 IBJ Staff
Indianapolis investment firm E&A Industries has acquired a fast-growing New York apparel firm specializing in body-slimming fashions, the companies announced Tuesday.
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Local tooling manufacturer acquired by private-equity firm

January 21, 2013
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex, in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
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Local Taco Bell franchisee acquired by California firm

January 16, 2013
 IBJ Staff
Southern Bells Inc., an Indianapolis-based franchisee that operates 76 regional fast-food restaurants, has been acquired by the country’s largest franchisee of Applebee’s restaurants.
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Muncie-based glass maker to be sold for $1.6B

January 14, 2013
Bloomberg News
Ardagh Group said it has agreed to buy Indiana-based glass bottle and jar manufacturer Verallia North America, which has about 4,400 employees at 13 manufacturing plants in the United States, including more than 650 workers in Indiana.
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Tobias Insurance agency merges with Florida firm

January 10, 2013
Tobias Insurance, the Indianapolis area's eighth-largest independent insurance brokerage, is now part of Florida-based AssuredPartners. Tobias will retain its name, employees and leadership.
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Local elevator service firm bought by German company

January 8, 2013
The Indianapolis elevator repair and installation company has been acquired by ThyssenKrupp AG. Amco Elevator was founded in 1965 and had been locally owned until the purchase.
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Big drug deals expected to return in 2013

January 7, 2013
Bloomberg News
Pharmaceutical companies including Pfizer Inc., Bristol-Myers Squibb Co. and Eli Lilly and Co. could be ready to start making major acquisitions again.
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Celadon snaps up two more trucking companies

January 4, 2013
Chris O'Malley
The Indianapolis-based company's Celadon Trucking Services subsidiary has agreed to acquire Warren-based Rock Leasing Inc. in northeast Indiana and Wadley, Ala.-based Kelly Logistics Inc.
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  1. These higher rates Co. e about only because physicians are now hospital employees. otherwise physicians couldn't charge these rates and share the windfall with the hospital. Community/rural hospitals probably not buying physicians practices and thus weren't getting the windfall anyway.

  2. The incentive for poor people to get themselves off public assistance and "no longer be poor" is even with help...they're STILL POOR! Being poor, even with some assistance, isn't all that pleasant. (I speak from experience) It's a stubborn myth that poor people, who are on public assistance, are sitting in the lap of luxury. You should try living on just those "freebies" that you mentioned and see how meager they actually are. By the way, I didn't mean you had to buy/own a puppy...just pet one. :)

  3. As near as I can tell the minority has ZERO constitutional obligation to offer a quorum to the majority. A requirement for quorum was inserted into the constitution so that tyrannical majorities could not simply shove through odious and objectionable legislation (which is exactly what they did.) By allowing a tyrannical majority to charge fines against the minority for exercising their constitutional prerogative to deny quorum the court as made a mockery of constitutional governance in the state of Indiana.

  4. The voters elected the Reps to make a vote not walk out on the vote. They had to the right to exercise their opinion and vote "no" to the bill. Let me ask you this if you walked out of your job for 5 straight weeks would you get paid? Would you even have a job to go back to? If any elected official walks out on the people they should be arrested for stealing tax dollars from the public. They were elected to do a job and not leave when the job gets stuff.

  5. I have been to several of their locations in Pennsylvania and always go in for 1 item and leave with a basket full of things. I'm very happy they decided on Indiana, now if only they would put the other store in eastside.

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