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By Gus G. Sentementes, The Baltimore Sun | February 18, 2011
Open Text Corp., a Canadian company, said Friday it completed its acquisition of Baltimore-based Metastorm Inc. for $182 million. Metastorm provides business process management software to government and commercial clients all over the world. Open Text said it plans to integrate Metastorm's process management software solutions into its own content management software offerings to customers. Open Text, which is based in Waterloo, Ontario, has more than 100 million users of its products in 114 countries.
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SPORTS
By Dan Connolly and The Baltimore Sun | October 7, 2014
An article that I wrote for Tuesday's newspaper is about reliever Andrew Miller, who has been absolutely filthy in the playoffs after pitching exceptionally well since the Orioles acquired him for left-handed pitching prospect Eduardo Rodriguez at the July 31 nonwaiver trade deadline. In one sense, it will be difficult to analyze the effectiveness of the trade until we see what Rodriguez does in the major leagues. Plus, it's possible that Miller is simply a rental player, will leave as a free agent this winter, and the Orioles will only get two months and a postseason from the big left-hander.
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BUSINESS
By Hanah Cho, The Baltimore Sun | September 30, 2010
The parent company of Domino Sugar, whose iconic sign lights up at the Inner Harbor in Baltimore, said Thursday it completed its acquisition of Tate & Lyle PLC's European sugar refining business. American Sugar Refining Inc., which owns the Baltimore sugar refinery, announced the $314 million deal in July. Under the transaction, ASR bought cane sugar refineries in London and Lisbon as well as the license to use the Tate & Lyle sugar brand. American Sugar Refining markets its products under the Domino, C&H and Redpath brands.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 28, 2014
Whenever Baltimore-area companies sell themselves to out-of-state firms, economists and local leaders alike bemoan the loss. Another headquarters gone. Fewer corporate decision-makers here. Possible job cuts. But Silicon Valley's deals for two Columbia firms - the planned Micros Systems acquisition, announced last week, and Sourcefire last year - strike local entrepreneurs in an entirely different way. They want more California tech giants doing business here, more billion-dollar-plus acquisitions.
BUSINESS
By Hanah Cho, The Baltimore Sun | October 13, 2011
Fairmount Bancorp, the holding company of its namesake bank in Rosedale, announced Thursday that it had completed the acquisition of Baltimore's Fullerton Federal Savings Association. Under the deal, Fairmount sold $793,000 of its common stock to Fullerton Federal depositors and to Fairmount's employee stock ownership plan. Shares were also offered to the public. Hanah.cho@baltsun.com
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 13, 2013
Legg Mason Inc. said Wednesday that it completed the acquisition of Fauchier Partners, a European money manager acquired from BNP Paribas Investment Partners. Legg Mason Inc. said Wednesday that it completed the acquisition of Fauchier Partners, a European money manager acquired from BNP Paribas Investment Partners. The Baltimore-based money manager paid $80 million for Fauchier plus agreed to pay as much as $56 million more over the next few years if financial targets are reached.
BUSINESS
By Edward Gunts, The Baltimore Sun | June 8, 2011
Kimpton Hotels & Restaurants, the management company for the 202-room Hotel Monaco Baltimore and B&O American Brasserie — which both have been tenants of the historic B&O Building since 2009 — has followed through on its previously announced plan to buy the portion of the structure occupied by the hotel and restaurant. The agreed-upon price was approximately $33 million. San Francisco-based Kimpton said Wednesday that the buyer was Kimpton Hospitality Partners II, Kimpton's proprietary private equity fund.
BUSINESS
Bloomberg News | March 12, 2013
Micros Systems Inc., a maker of software for the hospitality and retail industries, jumped its most in 18 months Tuesday after ValueAct Capital Management disclosed a stake in the company. ValueAct acquired 5.9 million shares, or a 7.5 percent stake, in Columbia-based Micros, according to a regulatory filing Tuesday. Micros Systems increased 7.6 percent to $45.87 at the close in New York for its biggest one-day gain since Aug. 26, 2011. The shares had declined 21 percent in the past year through Monday compared with a 5 percent advance for the Standard & Poor's Midcap Information Technology Index.
BUSINESS
By Scott Dance, The Baltimore Sun | August 14, 2013
Shares of Millennial Media lost 19 percent of their value in trading Wednesday on news that the Canton mobile advertising company would buy a competitor mostly in exchange for stock, and that its losses widened in the second quarter. The stock closed at $6.90 on the New York Stock Exchange, down $1.60 from the previous day's close. The acquisition and earnings were announced after the market closed Tuesday. Millennial plans to acquire Boston-based rival Jumptap for more than $200 million, with the privately held company's shareholders receiving 24.6 million shares of Millennial along with $12 million in cash.
BUSINESS
October 17, 1995
Reeds Jewelers Inc. has completed the acquisition of The Melart Jewelers Inc., a privately owned chain based in Silver Spring.The Melart chain has 19 Maryland stores, including two in Baltimore.Terms of the deal were not disclosed.The acquisition opens the door to Maryland for Reeds, a $H Wilmington, N.C.-based chain that now operates 99 stores in 12 states.Reeds, which will operate Melart as a subsidiary, said it does not intend to cut any of Melart's estimated 230 employees. The Melart name, however, is expected to be replaced by the Reeds label after the Melart stores are remodeled over the next three years.
NEWS
By Robert B. Reich | April 23, 2014
We're in a new Gilded Age of wealth and power similar to the first Gilded Age, when the nation's antitrust laws were enacted. Those laws should prevent or bust up concentrations of economic power that not only harm consumers but also undermine our democracy -- such as Comcast's pending acquisition of Time Warner Cable. In 1890, when Republican Sen. John Sherman of Ohio urged his congressional colleagues to act against the centralized industrial powers that threatened America, he didn't distinguish between economic and political power because they were one and the same.
BUSINESS
By Scott Dance, The Baltimore Sun | March 6, 2014
Tax giant KPMG LLP has acquired Cynergy Systems Inc., a Baltimore-based company that builds and designs software and mobile applications, for an undisclosed sum. Through the acquisition, KPMG sought to add more services for companies looking to use software systems to improve efficiency, productivity or sales, said Stephen Chase, a principal with KPMG. Cynergy builds and designs systems used in industries including health care, telecommunications, financial services and video games, and provides training to companies on how to use them.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | December 6, 2013
Under Armour completed its planned $150 million purchase of fitness technology firm MapMyFitness Inc. Friday, marking the Baltimore-based sports apparel maker's first-ever acquisition. Austin, Texas-based MapMyFitness, creator of the MapMyRun and MapMyRide mobile applications, has more than 20 million registered users who map, record and share their workouts using GPS and other technologies. Self-described as the largest social network of fitness buffs on the Internet, MapMyFitness is expected to help Under Armour compete with rival Nike and others in the growing fitness technology market.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 4, 2013
Saks Inc. warned state regulators Wednesday that it plans to lay off 191 employees in Aberdeen starting Jan. 3, a move the company said comes as a result of its November acquisition by Hudson's Bay Co. Some of the work at the Saks complex, which includes a distribution facility, will be moved to HBC's Wilkes-Barre, Pa., site. The Toronto-based HBC said in a statement that combining merchandise receiving and processing in one location would serve customers "by getting product to stores faster.
BUSINESS
By Lorraine Mirabella and Natalie Sherman, The Baltimore Sun | November 14, 2013
Under Armour took a huge leap forward in the fast-emerging fitness technology market Thursday with plans for a $150 million acquisition of MapMyFitness, creator of the MapMyRun and MapMyRide mobile applications and websites. What would be Under Armour's first acquisition opens a new frontier for the Baltimore-based sports apparel and footwear maker in online social networks and expands its toehold in fitness devices. But what seems like a radical departure for a sports clothing company really is Under Armour rapidly closing the gap with its larger rival Nike on fitness technology.
NEWS
By Mickey Matthews | November 4, 2013
As reports of an improving economy continue to trickle in, many businesses in the Baltimore area are realizing that global forces could very well positively impact our area and that now is the time to respond to these emerging trends. This area is in a unique position, with a relatively strong economy, a port with growing capacity, a base of businesses for the 21st century, and access to top talent. This infrastructure bodes well for the Baltimore/Washington area, but only if businesses recognize that we are part of a global economy.
BUSINESS
December 23, 1997
USF&G Corp. completed its acquisition of Titan Holdings Inc. in a deal valued at $221 million, the company said yesterday.The Baltimore-based insurer will more than double its position in two specialty property and casualty businesses with the acquisition: insuring riskier drivers and insuring small and medium-size towns and counties.The merger was approved yesterday by Titan's shareholders, who met in San Antonio, Texas, where the company is based.Shares of USF&G stock closed at $22.125 yesterday, down 31.25 cents.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 11, 2013
Columbia-based W.R. Grace & Co. said Friday that it has agreed to buy a Dow Chemical Co. division for $500 million. Grace is paying cash for Dow's Unipol polypropylene licensing and catalysts business, including a Louisiana manufacturing plant. Dow said it expects about 90 of its employees will transfer to Grace, and Grace will honor existing contracts. For chemical giant Dow, the sale is part of a strategy to get rid of "assets that are no longer a strategic fit," according to its announcement.
BUSINESS
The Baltimore Sun | September 26, 2013
Shares in McCromick & Co. Inc. slipped 2.2 percent Thursday after the Sparks-based spice maker lowered its forecast for its 2013 fiscal year, citing weak demand from consumers and restaurants. Its stock dipped $1.49 to $66.56 a share in New York Stock Exchange trading. The forecast was included in McCormick's earnings report for its third quarter ended Aug. 31. The company reported its quarterly earnings were flat year-over-year at $104.4 million, or 78 cents per share. Revenue grew 3.9 percent to just over $1 billion in the quarter, up from $978 million a year earlier.
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