Mergers & Acquisitions

Franciscan Alliance takes control of VNS home health agency

May 19, 2011
J.K. Wall
Visiting Nurse Service Inc., a 200-employee agency based in Indianapolis, will operate under the umbrella of Franciscan St. Francis Health, the organizations announced Thursday.
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Law firm towers after acquisitions

May 7, 2011
Scott Olson
Barnes & Thornburg's entrance into the Los Angeles market earlier this year capped off a string of office openings that vaulted it into an elite national player.
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Citizens Energy agrees to document utility savings

April 13, 2011
Associated Press
A not-for-profit public trust that wants to buy Indianapolis' water and sewer utilities has agreed to document all of the savings it says the $1.9 billion deal would create. State regulators still must approve the transaction.
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Herff Jones sells photography division

April 11, 2011
Kathleen McLaughlin
Indianapolis-based class ring and yearbook maker Herff Jones will sell its photography division to Lifetouch Inc., the company announced Monday.
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High-end home audio gear will be made in IndianaRestricted Content

March 26, 2011
Kathleen McLaughlin
A team of former Klipsch Group engineers has spent the two years trying to infuse high-end home audio equipment with the all-in-one sophistication of a smartphone.
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Drugmakers call off animal-health deal, possible asset sale

March 22, 2011
 IBJ Staff and Bloomberg News
Drugmakers Merck & Co. and Sanofi-Aventis SA have abandoned plans to combine their animal-health businesses after wrestling with regulators for a year over potential divestitures. Indianapolis-based Eli Lilly and Co. was among a list of possible suitors for about $1 billion in assets the two companies considered selling.
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Lilly agrees to buy European animal health company

March 14, 2011
J.K. Wall
Elanco, the animal health division of Eli Lilly and Co., has agreed to acquire Jannsen Animal Health, a subsidiary of New Jersey-based Johnson & Johnson, pending regulatory approval. Financial terms of the deal were not disclosed.
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Midway Produce acquired by U.S. Foodservice

February 21, 2011
Founded in 1999, Indianapolis-based Midway Produce mostly distributes produce to restaurants, health care facilities and schools throughout central Indiana.
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Old National-Monroe merger costing 59 jobs

February 17, 2011
 IBJ Staff
Almost 60 employees of Old National Bank and Monroe Bank are losing their jobs as the financial institutions combine their operations.
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Booster groups Indy Partnership, Develop Indy to merge

February 15, 2011
Cory Schouten
Local economic development groups Indy Partnership and Develop Indy plan to combine operations to save money and more effectively pitch the city and region to potential job creators.
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Klipsch selling for $166M, Audiovox says

February 3, 2011
 IBJ Staff
Klipsch will become a subsidiary of Audiovox and operate as a stand-alone operation in Indianapolis under the leadership of the current management team, Audiovox said.
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Marcadia may fetch up to $537 million in sale

February 2, 2011
J.K. Wall
The December sale of Carmel-based Marcadia Biotech to Roche garnered at least $287 million—and as much as $537 million—for the company’s owners and could lead the Marcadia management team to launch a firm using one of Marcadia’s experimental diabetes medicines.
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21st Century Fund pockets a payoff from saleRestricted Content

January 22, 2011
Chris O'Malley
The state’s principal fund investing in high-tech companies has reached a milestone—for the first time recouping all the money it granted an emerging company, and then some.
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Simon Property abandons offer for Capital Shopping

January 11, 2011
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
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Duke Energy plans acquisition, new CEO

January 10, 2011
Bloomberg News
Duke Energy Corp. announced Monday an agreement to buy Progress Energy Inc. and put Progress CEO William Johnson in charge of what will be the largest U.S. utility.
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Ratio Architects acquires North Carolina firm

January 10, 2011
Scott Olson
Ratio Architects Inc., the area's fourth-largest architectural firm, has acquired Cherry Huffman Architects in Raleigh, N.C.
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Aprimo sale may usher in 'new wave' of tech dealsRestricted Content

January 8, 2011
Chris O'Malley
Observers say conditions are ripening for more deals like the recent $525 million sale of Aprimo Inc. in the months ahead—not only among IT firms, but also among biotech companies here.
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Audiovox agrees to buy local speaker maker Klipsch

January 7, 2011
 IBJ Staff
Audiovox said in a statement, though, that the deal is "subject to a number of contingencies." Indianapolis-based Klipsch was founded in 1945 and has 130 local employees.
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OfficeWorks acquires competitor’s local operations

January 7, 2011
Fishers-based furniture dealer and office space designer is purchasing the assets of Columbus, Ohio-based Continental Office Environment's Indianapolis location on East 33rd Street. Both companies are Herman Miller dealers.
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Shareholders approve FinishMaster deal

January 7, 2011
 IBJ Staff
FinishMaster Inc.’s shareholders this week approved a deal to sell the Indianapolis-based company to a subsidiary of Uni-Select Inc. for $172 million.
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Roche aims to prevent bidding war for software firm

January 7, 2011
J.K. Wall
The Swiss company, which operates its North American business out of Indianapolis, filed a lawsuit late last month against Virginia-based Medical Automation Systems Inc. for breaching the purchase agreement the companies signed back in October.
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Simon target's valuation 'out of reach' for Indianapolis firm

January 7, 2011
Bloomberg News
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
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Simon loses battle for General Growth

December 24, 2010
Cory Schouten
Just as shoppers began spending more cash at Simon Property Group Inc. malls, the Indianapolis real estate giant tried to open its own wallet for three huge deals—to mixed results.
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UPDATE: Aprimo will stay put after $525M acquisition

December 22, 2010
Chris O'Malley
Marketing software company Aprimo Inc. will stay in Indianapolis after being sold for $525 million to Dayton, Ohio-based based data storage giant Teradata Corp., Aprimo CEO Bill Godfrey said Wednesday.
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Software firm Aprimo to be sold for $525M

December 22, 2010
 IBJ Staff and Associated Press
Indianapolis-based marketing software maker Aprimo Inc. will be sold to an Ohio data-storage company for $525 million, Teradata Corp. said Wednesday. Aprimo, led by co-founder Bill Godfrey, pulled plans to go public two years ago.
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  1. The deductible is entirely paid by the POWER account. No one ever has to contribute more than $25/month into the POWER account and it is often less. The only cost not paid out of the POWER account is the ER copay ($8-25) for non-emergent use of the ER. And under HIP 2.0, if a member calls the toll-free, 24 hour nurse line, and the nurse tells them to go to the ER, the copay is waived. It's also waived if the member is admitted to the hospital. Honestly, although it is certainly not "free" - I think Indiana has created a decent plan for the currently uninsured. Also consider that if a member obtains preventive care, she can lower her monthly contribution for the next year. Non-profits may pay up to 75% of the contribution on behalf of the member, and the member's employer may pay up to 50% of the contribution.

  2. I wonder if the governor could multi-task and talk to CMS about helping Indiana get our state based exchange going so Hoosiers don't lose subsidy if the court decision holds. One option I've seen is for states to contract with healthcare.gov. Or maybe Indiana isn't really interested in healthcare insurance coverage for Hoosiers.

  3. So, how much did either of YOU contribute? HGH Thank you Mr. Ozdemir for your investments in this city and your contribution to the arts.

  4. So heres brilliant planning for you...build a $30 M sports complex with tax dollars, yet send all the hotel tax revenue to Carmel and Fishers. Westfield will unlikely never see a payback but the hotel "centers" of Carmel and Fishers will get rich. Lousy strategy Andy Cook!

  5. AlanB, this is how it works...A corporate welfare queen makes a tiny contribution to the arts and gets tons of positive media from outlets like the IBJ. In turn, they are more easily to get their 10s of millions of dollars of corporate welfare (ironically from the same people who are against welfare for humans).

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