Worcester Business Journal

6 Worcester Business Journal | May 14, 2018 | wbjournal.com Springdale brews clear with Kentucky beer Springdale Beer, a division of Framingham brewery Jack's Abby, has partnered with Louisville beermaker Against the Grain Brewery to create a completely clear beer called Any IPA. e collaboration was the result of Against the Grain officials attending a Massachusetts beer festival and poking fun at hazy New England-style IPAs. It is Springdale's first collaboration. T&G parent spent $300K for Gardner News GateHouse Media, the New York- based owners of the Telegram & Gazette and a host of other daily and weekly newspapers in Massachusetts, spent $300,000 to purchase the Gardner News. e acquisition closed on March 31, and the purchase price was disclosed in May. e purchased followed the com- pany in February acquiring Worcester Magazine and five community publica- tions for $1.2 million. Acacia Communications bracing for Chinese ban Aer being forced to suspend its relationship with ZTE Corp. aer the Chinese company was banned from U.S. commerce, Maynard communica- tions equipment manufacturer Acacia Communications is expecting its second quarter revenues to decrease between $7-13 million, from the $73 million it generated in the first quarter. WCTI receives $120K e Worcester CleanTech Incubator has been awarded a $120,000 grant and has launched a partnership with Cambridge marketing firm Hubspot for Startups. e grant, from Incubate Mass, will help fund the cleantech innovation ecosystem in Central Massachusetts. e partnership with HubSpot will allow WCTI to offer HubSpot's market- ing and sales soware at a 90-percent discount to its incubating companies. T H E T I C K E R $819 million Assets held by Fidelity Bank in Leominster in 2017, an increase of 5 percent from the previous year. Source: Fidelity Bank A private investment from a group of investors to Holliston biotech Biostage, as it markets toward Asia $3.6 million Source: Biostage 5,400 Source: Solect Energy Solar panels installed at Old Sturbridge Village, offset- ting three-fourths of the museum's electricity needs. Second quarter net loss reported by Marlborough medical device firm Hologic, largely due to impairment charges for its Cynosure division. $680 million Source: Hologic B R I E FS The Any IPA beer is being sold in both Massachusetts and Kentucky. Continued from previous page IPG to expand in Oxford, Marlborough Oxford laser equipment manufacturer IPG Photonics is planning a multi- year expansion of both its Oxford and Marlborough facilities. e company in February purchased two separate Ox- ford parcels - one on Federal Hill Road and another on Millbury Boulevard - for a combined $1.1 million. In the same month, it purchased about 13 acres in Marlborough for $1.8 million. e ex- pansion, announced during an earnings call, does not yet have a timeline. Worcester County had 1.2M rideshares last year ere were 1,213,440 ride sharing trips with companies like Uber and Ly started in Worcester County last year. Worcester alone accounted for most of those trips with nearly 849,000 trips started in the city, and nearly 824,000 trips ended in Worcester, ranking it the ninth-highest Massachusetts city, ac- cording to a state Department of Public Utilities' report. CLIENT: NOT-FOR-PROFIT SCHOOL & FOUNDATION Their 403(b) re rement plan was riddled with inefficiencies, lacking adequate record keeping and employee educa on, resul ng in a program that was complex and confusing. H&H clarified the road ahead with an in-depth benchmarking study, then provided a lower-cost plan streamlining administra on and reducing risk exposure. Get the full story at hhconsultants.com/success Put our knowledgeable and dedicated professionals to work for your business. We offer a full range of comprehensive actuarial, investment advisory and re rement plan consul ng services. We iden fy each client's need, custom design programs to achieve the highest level of success and consistently exceed expecta ons. RETIREMENT PLAN SERVICES THAT PASS THE TEST Each client's situa on is different and results may vary from those presented here

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