MetroWest495 Biz

MetroWest495 Biz | May 2015 7 IT Solutions platform, Virtusa said in a statement announcing the deal. Virtusa will deliver remote infrastruc- ture management (RIM) services from Apparatus' RIM center. SeaChange sees stock effects Stock for multiscreen video software maker SeaChange International of Acton was trading down after fourth- quarter fiscal reports missed analysts' expectations. The company reported revenue of $31.3 million in the fourth quarter of fiscal 2015, and a loss from operations of $5.3 million, or 16 cents a share. Analysts were expecting the company to report a net loss of 4 cents per diluted share. In the fourth quarter of fiscal 2014, the company had rev- enue of 35.6 million and an operating loss of $0.9 million, or 3 cents a share. BSX announces acquisition of California company Marlborough-based medical device manufacturer Boston Scientific has reached an agreement to acquire Xlumena Inc. Based in Mountain View, Calif., Xlumena makes minimally invasive devices to drain targeted areas of the gastrointestinal tract through en - doscopic ultrasound. The deal is valued at $75 million, Boston Scientific (BSX) said in a statement. The announcement comes roughly 30 days after BSX an - nounced it would acquire the urology division of American Medical Systems for about $1.65 billion in cash. That deal, expected to close later this year, would be Boston Scientific's largest ac - quisition since it bought cardiovascular products maker Guidant Corp. in 2006 for $27.2 billion. InSite buys Franklin company's tower sites, equipment InSite Wireless Group has acquired 294 communication tower sites from CTI Towers of Franklin. A statement from InSite said the assets purchased also include tower site equipment and infrastructure, related real property interests, and wireless carrier and customer agreements related to the towers. InSite has developed and oper- ates more than 20 projects across the United States in convention centers, casinos, airports, sports stadiums, and transit systems such as the Boston MBTA and the Los Angeles County Metro. With the transaction, InSite now has more than 1,200 communica- tion towers. TJX Cos. growth reaps dividend increase, wage hikes Stockholders in Framingham-based TJX Cos. will see a 20-percent increase in dividends in two months as the parent of off-price retailers T.J. Maxx, HomeGoods and Marshalls contin- ues to grow revenue and profits. The company's board of directors declared a regular quarterly dividend of 21 cents per share, which will be paid June 4 to shareholders of record as of May 14, TJX said in a statement. In February, TJX reported net income of $648.2 million for its most recent quarter, which ended Jan. 31. That was up from $582.2 million a year earlier. An- nual net income rose to $2.2 billion, up from $2.1 billion, while sales jumped 6 percent for both the quarter and the full year. At the same time, TJX announced a plan to increase wages for U.S. employees, which also include Sierra Trading Post. Marlborough retail building sold A retail building on Bolton Street in Marlborough that houses a Rite Aid pharmacy has been sold for $4.15 million, according to the firm that bro- kered the deal. Parsons Commercial Group (PCG) said that the building, at 75 Bolton St. extension, was sold by Yorkshire Realty Trust to Arak LLC. The 13,000-square-foot building is fully leased to Rite Aid. Medical diagnostics firm creates immunity test Oxford Immunotec of Marlbor- ough has developed a laboratory test that measures a patient's immunity to cytomegalovirus (CMV), a herpes virus. The medical diagnostics com- pany — which has dual headquarters in Marlborough and England — said in a statement that its T-SPOT.CMV test is available in the U.S. sooner than expected, although approvals are pending in California, Florida and New York. It's a laboratory devel- oped test, which means it's designed, manufactured and used within a single laboratory. The test evaluates T cell re- sponse to CMV-specific antigens, and will be performed at Oxford Diagnos- tic Laboratories in Memphis. n Marketplace Multiples Exit Planning to Increase Value To register to attend the seminar, please contact Jenn Moore at jenn.moore@rocg.com or call 617-412-4640 FEATURED PRESENTERS Terence Shepherd is the Boston office Partner for ROCG, international consultants to small and medium-sized family owned enterprises, specializing in business exit and transitions. J oin Terry Shepherd of ROCG and Chris George of George & Company for a discussion on how to properly plan for your exit/transition out of your business, maximize your exit value, ensure the business remains sustainable through the exit/ transition and review the options that are available to you. The skills you've used to build your business are completely different than the ones you'll need to successfully transition it, whether you intend an internal transfer or to sell for the highest dollar. If you want to be able to enjoy the retirement you've worked so hard to earn, you must have a plan. At this seminar you'll learn about how to ask and answer a series of key questions that will help you build a solid exit plan. You'll also learn why transition planning is so critical to your success, and… • How you have the power to increase the value of your business to meet your personal lifestyle objectives before you put it up for sale • How to avoid being one of the 6 out 10 business owners whose exit is unsuccessful Some critical facts that will affect how well you transition your business: • There are 12 million "Baby Boomer" business owners heading for the exit in the next decade and the generation behind them has 10 million less people, meaning there will be many more sellers than buyers • Only 1 out of 10 businesses that go up for sale actually sell • Unprepared for the transition, depression hits over 60% of all retirees within the first three years of stepping out of their business If you are thinking of exiting your business the time to start preparing is now! A minimum of 2 to 5 years is needed to ensure you meet your personal lifestyle objectives. Terence Shepherd, CM&AA, CPA, MST Partner and founding member, ROCG Christopher R. George President, George and Company Christopher R. George is the president of George and Company and a business appraiser, broker and consultant specializing in the valuation, sale and financing of closely held companies. He has performed over 2,000 business appraisals, valuations and sales. REGISTER TODAY! THURSDAY, JUNE 11TH Sheraton Framingham Hotel THURSDAY, MAY 28TH Double Tree Hotel, Westborough Time: 7:30 – 9:30 AM WHITE CITY GOES FOR $97 MILLION The White City Shopping Center in Shrewsbury has been sold to an Illinois real estate company for $97 million. The property was sold by Charter Realty & Development and Acadia Realty Trust to Inland National Real Estate Service. Charter and Acadia, a joint venture, had acquired the 260,000-square-foot property located next to Lake Quinsigamond in 2010 for $56 million, according to a release by CBRE/New Eng- land, which handled the sale for the sellers. The owners undertook a redevelopment cam- paign that included upgrading infrastructure, common areas and signage and adding architectural features, according to CBRE. Since 2010, the owners also replaced or renewed tenants in more than half of the plaza's 44 stores, CBRE reported. The plaza is anchored by a Shaw's Supermarket and is fully leased.

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