Sterling Financial Corporation (NASDAQ:STSA), parent of Argent Bank, announced the completion of its acquisition of Commerce National Bank for total cash consideration of $42.9 million. Immediately following completion of the acquisition, Commerce National was merged with and into the company’s principal operating subsidiary, Sterling Savings Bank. David DePillo, the company’s vice chairman and chief lending officer, noted that the acquisition would boost Sterling’s business banking capabilities in the Orange County market.
Food & Beverage
The Republic of Tea in Novato launched a new line of environmentally friendly, single-serve “One Cuppa” teas that are compatible with most popular brewing machines. One Cuppas are said to be filled with fine-quality tea, handpicked from the most prized tea gardens around the world. The containers offer a convenient way to enjoy an authentic tea experience at home or in the office. The Republic of Tea has a commitment to sustainability and harmony with the environment, so One Cuppas are said to be 95 percent biodegradable.
Bear Republic Brewing Company of Healdsburg said its Racer X Double IPA will be arriving in select areas of California, Oregon, Washington, Nevada, Colorado, Arizona, Texas, Florida, North Carolina, South Carolina, Ohio, Wisconsin, Pennsylvania, New York, Massachusetts, and Virginia in mid-October. Rated 100 on Ratebeer.com and a 95 on Beeradvocate.com, the Racer X recipe was originally created over 10 years ago by Brewmaster and Chief Operating Officer Richard “Ricardo” Norgrove. It was released annually with limited availability nationwide. Racer X is a four-time California State Fair award-winner, with three silver medals and one bronze.
Frank R. Howard Memorial Hospital in Willits received national recognition in patient satisfaction with a 2013 Path to Excellence award. The hospital was recognized at the 19th annual National Research Corporation’s International Patient-Centered Care Symposium in Baltimore, Md., on Sept. 22. The hospital was one of two hospitals in its size category to be recognized as “most improved.”
San Rafael-based Autodesk (Nasdaq: ADSK) signed a definitive agreement with the shareholders of Graitec to acquire certain technology assets, including Graitec’s Advance Steel and Advance Concrete product lines, and associated employees. The acquisition will enhance Autodesk’s current offerings for structural engineering and expand its portfolio of technology for building information modeling (BIM) for structural fabrication and detailing. Through the proposed acquisition, Autodesk will continue to lead the industry’s migration to BIM and evolution of model-based workflows for structural engineers, detailers, fabricators and contractors who provide modeling, analysis, detailing, and production services. The transaction is expected to close in the 4th quarter of fiscal year 2014 and is subject to customary closing conditions. The financial terms of the transaction were not disclosed.
Cyan (NYSE:CYNI), a Petaluma-based maker software-defined networking and packet-optical solutions for communications network operators, said its Blue Planet SDN platform was named “Best New Telecom Product” by Light Reading at its annual Leading Lights Event in New York City. The program recognizes innovative companies and products that signal the direction of technology advances and have demonstrated significant traction in the market.
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