Issue link: https://nebusinessmedia.uberflip.com/i/466666
www.wbjournal.com February 16, 2015 • Worcester Business Journal 5 boost came from the wind energy seg- ment, although that was partially offset by lower revenue in the grid segment, the company announced in its quar- terly report. AMSC was also able to rein in its net losses, though it still lost $6.4 million in the third quarter. This was down from $8.7 million the previ- ous year. (See related story, Page 9.) WEBSTER — MAPFRE Insurance will acquire as much as $127 million in business from Middleoak Insurance of Middletown, Conn., and Salem — to expand its insurance offerings in New England. The deal focuses on personal insurance business in Massachusetts, Connecticut, New Hampshire and Rhode Island. As part of the agree- ment, MAPFRE will enter the Maine and Vermont markets. Middleoak is exiting the personal lines market in New England, a statement from MAPFRE said. MARLB OROUGH — Boston Scientific Corp. saw sales improve in the fourth quarter and throughout 2014, thanks in large part to strong sales of the company's cardiovascular devices. Sales for the quarter ended Dec. 31 were $1.88 billion, up 3 percent over the third quarter of 2013. For the full year, BSX reported sales of $7.3 bil- lion, compared with $7.1 billion in fis- cal 2013. Results were in line with company guidance, and led to operat- ing revenue growth of 7 percent for the quarter and 6 percent for the year. The company executed a turnaround last year after posting 2013 losses. ACTON — Video software maker SeaChange International said it has completed its acquisition of Timeline Labs, a California-based social media analytics developer. SeaChange offi- cials said the deal will expand the com- pany's customer base and extend its expertise to television broadcasting and online video. According to a state- ment, SeaChange has retained former Timeline Labs employees and facilities in Los Angeles and San Francisco. The former CEO, Malcom CasSelle, has been appointed senior vice president and general manager at SeaChange's new digital media business unit. In addition, SeaChange said Timeline Labs co-founder and executive chair- man Ed Wilson has been appointed to its board of directors. SOUTHBOROUGH — Sevcon saw a 10-percent gain in revenue in the first quarter of its new fiscal year, as more of its customers bought the company's products as part of their hybrid and electric vehicles. Sevcon, which makes microprocessor-based controls for those vehicles, said it generated $9.93 million in sales for the quarter, which ended Jan. 3. That's up from $9.05 mil- lion in the same quarter last year. The company churned out profits of $171,000, down from $488,000 in the REGIONAL BRIEFS >> Continued from previous page REAL DEALS 50 Cambridge Worcester FEDEQ Red Apple 67,458 $18M Jan. 13 St. NL005 LLC Worcester MA LLC 25, 45 Hopkinton 25-45 Weston Partners 119,295 $11M Jan. 30 South St. South LLC Acquisition Group LLC 83-85 Marlborough Merlin Realty 85 Broad LJS 18,968 $5.9M Jan. 14 Broad St., Management LLC LLC 534 Lincoln St. 225 Fitchburg B&J Real 225 Industrial 63,440 $1.2M Jan. 20 Industrial Rd. Estate Trust Road LLC 55-57 Mendon Kevin J. Heidrea Mendon 25,200 $896,000 Jan. 12 Cape Rd. Lombard LLC 49 Miller St. Blackstone Hastie Real 15 Main Street 1,270 $480,000 Jan. 23 Estate Management Inc. Real Deals highlights recent commercial property transactions in Central Massachusetts. Commercial real estate firms that want to submit information on transactions can send it to editorial@wbjournal.com, or fax it to 508-755-8860. SALE ADDRESS CITY/TOWN SELLER BUYER SQ. FEET PRICE DATE SALES Sources: Massachusetts Registry of Deeds, municipal documents and assessors — Compiled by Sam Bonacci, Worcester Business Journal Staff Writer >> Continued on next page Knowledge + Experience + Trusted Advice. It all adds up. Large enough to serve the needs of most businesses and individuals; small enough to offer the personal attention you expect and deserve. Greenberg, Rosenblatt, Kull & Bitsoli, PC Certified Public Accountants 306 Main Street, Suite 400 • Worcester, MA 01608 508.791.0901 • www.grkb.com