Thursday, January 29, 2015

POSTED: Monday, January 3, 2011, 11:59 AM
Filed Under: Business Services

Pennoni Associates Inc. has acquired Patton Harris Rust & Associates, a smaller engineering firm based in Chantilly, Va.

The Center City-based Pennoni said Monday it will add seven offices in Maryland and Virginia and 175 employees to its operations. Before completing this transaction, Pennoni had 775 employees in eight states.

Terms of the deal were not disclosed.

POSTED: Monday, January 3, 2011, 2:05 AM

The rising tide that was the U.S. stock market in 2010 lifted many of the dinghies, trawlers and supertankers of the Philadelphia corporate world.

But it’s easy to see the dents and leaks left by the financial crisis and recession. The ranks of the good ship Inquirer/Bloomberg Philadelphia Index have been thinned significantly over the last three years.

Delistings, acquisitions, and the relocation of corporate headquarters have all played a part in winnowing the index to 181 members.

POSTED: Wednesday, December 29, 2010, 2:05 AM
Filed Under: Technology

The outlook for venture-capital investment sounds similar to the prognostications for the rest of the economy in 2011: better than 2010.

However, the recent survey by the National Venture Capital Association contains one worrisome sign for the Philadelphia region. Life sciences may no longer be ascendant.

Attach your favorite reason for why that may be. The Food and Drug Administration is approving fewer new drugs than in the past. There is continuing uncertainty over how health-care reform will affect reimbursement for drugs and diagnostic tests. And quite frankly, the few life-sciences companies that did go public in 2010 saw their share prices sink.

POSTED: Tuesday, December 28, 2010, 9:02 AM

A Bucks County-based hedge-fund manager has attracted the eye and capital of Goldman Sachs Group Inc.

Mount Lucas Management Corp., with $1.8 billion under management, said Monday that Goldman Sachs’ Petershill Offshore Fund L.P. will acquire a passive minority interest in the 34-year-old firm in Newtown. It did not disclose how big that stake will be.

However, Mount Lucas said it will “retain complete autonomy” over management, operations and investment strategies.

POSTED: Monday, December 27, 2010, 8:51 AM
Filed Under: Technology

I have a hard time believing that there’s a lack of innovation in the United States right now.

Technological change seems to be everywhere in daily life - in the workplace, at home, even inside the convenience store and on Philadelphia’s sidewalks with its new parking-payment kiosks.

Given that I need a different charger for the various electronic devices plugged in all over my house, I’d even trade a little innovation for some standardization.

POSTED: Wednesday, December 22, 2010, 8:52 AM

We may not be seeing a rush of blockbuster acquisitions as 2010 draws to a close, but each December day seems to bring word of a small deal here and there.

On Monday, three transactions involved local companies. Just like some of those Christmas gifts you may have tossed into your shopping cart, they were missing price tags.

Quinnova Pharmaceuticals Inc., of Newtown, Bucks County, was acquired by a unit of Amneal Enterprises L.L.C., a Bridgewater, N.J., maker of generic and specialty pharmaceuticals.

POSTED: Tuesday, December 21, 2010, 10:59 AM
Filed Under: Economic Development

I would have thought that we’d plowed the faddish field of the creative economy enough by now.

But no. Judging by the data released Monday by the city’s Office of Arts, Culture and the Creative Economy, we’ve only begun to document whether the creative sector can become a growth engine for the city.

With a three-year, $75,000 grant from the William Penn Foundation, the office bought data from the Western States Arts Federation to benchmark where the city and region stand using an index.

POSTED: Monday, December 20, 2010, 2:00 PM

If all you knew about InfoLogix Inc. was that it was involved in wireless technology with health-care customers, you might think that would be a recipe for endless growth.

That has not been the path of the Hatboro company, however. Over the last three years, InfoLogix has lost $42.2 million, restructured, refinanced its mounting debt, and finally saw its shares delisted in October.

So why did Stanley Black & Decker Inc. last week strike a deal to buy InfoLogix in a transaction valued at $61.2 million?

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Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at

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