Indiana Members adds small credit union to its fold
Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.
Mergers & Acquisitions
Articles
Angie’s List acquires Denver firm for $2.7 million
BrightNest, founded in 2011, provides free online tips for home maintenance to about 100,000 users. The company’s eight employees will remain based in Denver.
Salesforce.com wraps up $2.5B acquisition of ExactTarget
Cloud computing giant Salesforce.com paid $33.75 per share to acquire ExactTarget. The price was roughly 6.5 times ExactTarget’s projected revenue for 2013, analysts said.
Tyco to buy Fishers-based technology firm for $150 million
Tyco International Ltd. said Wednesday that it reached a deal to acquire Exacq Technologies Inc., which develops video management systems for security and surveillance uses.
ProLiance Energy sold to Dallas company
Indianapolis-based ProLiance Energy, which has lost tens of millions of dollars in recent years amid falling natural gas prices, is being sold to Dallas-based Energy Transfer Partners.
Salesforce slow to excite investors after $2.5B buyout of ExactTarget
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.
ExactTarget option gains approach $300M
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.
Salesforce to keep ExactTarget independent, ‘invest’ in it
In a company memo, ExactTarget CEO Scott Dorsey assures employees of their importance after announcing deal to sell the company for $2.5 billion.
ExactTarget sale caps success story; CEO mum on Indy work force
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.
Celadon acquires Canadian trucking company
Hyndman Transport Limited, based in Wroxeter, Ontario, operates about 175 tractors and brought in roughly $48 million in revenue in 2012.
Lids acquiring Kentucky sporting goods chain
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.
Spate of banking mergers may be just the beginning
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.
Sherry Labs snapped up by Netherlands corporation
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.
ExactTarget lands on tech shopping list for buyout
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.
Two of city’s largest credit unions set to merge
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.
Fortune Industries set to accept $13.3M buyout offer
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.
Office Depot agrees to buy OfficeMax for about $1.2B
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.
Two neighboring utilities united by fiber in Hancock County
Unusual merger of Hancock Telecom and Central Indiana Power is paving the way for network deployment in rural areas.
American, US Airways to merge, create world’s biggest carrier
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.
Calumet’s 2012 profit rockets to $205.7 million
An acquisition spree helped oil refiner Calumet Specialty Products increase profit almost five-fold in 2012, the Indianapolis-based company reported Wednesday morning.