Regional Report Triangle July 2013

Mike Lipps knows how competitive recruiting talent in the technology industry is, having worked for Intuit Inc. in Silicon Valley. That’s why the vice president and managing director of LexisNexis’ law-software division arranged for the company to sponsor the High Tech Club at Duke University’s Fuqua School of Business and to partner with N.C. State University’s innovation-management program. His division is planning to hire 350 people over the next five years, so he wants first dibs on the best developers graduating from Triangle universities. Nearly a dozen tech companies are in the same position, needing to fill hundreds of jobs at new or expanding operations in the region. Citrix Systems Inc.’s building under construction in downtown Raleigh will have a gym, gourmet coffee machines, gaming systems and pingpong tables. Red Hat and LexisNexis offer employees time off to volunteer in the community. “It’s much more about culture,” says Jennifer Bosser, assistant executive director of Wake County Economic Development and head of its Work in the Triangle program. “How to brand yourself as a company that is doing something that is going to change the world.” The hiring spree has helped the region rebound from the recession faster than the rest of the state and much of the nation. In January, the U.S. Bureau of Labor Statistics reported that Raleigh-Cary was one of only 14 U.S. metros to have gained more jobs than lost between November 2007 and November 2012.

CARY — Ply Gem Holdings, maker of home-exterior products such as vinyl siding and windows, raised about $306 million in an initial public offering of 15.8 million shares. The company plans to use the proceeds to pay off debt and for general business purposes.

DURHAM —  Paris-based Amundi will acquire money-management firm Smith Breeden Associates for an undisclosed amount. Smith Breeden, which handles more than $6 billion, will become a subsidiary. Its leadership team won’t change.

MORRISVILLE — ChannelAdvisor raised about $80 million in an initial public offering, selling nearly 5.8 million shares. The e-commerce company, which makes cloud-based software that allows retailers to sell their products online, will use the money to expand its sales force.

CHAPEL HILL —  Drug developer Cempra won a five-year contract worth up to $58 million from a division of the U.S. Department of Health and Human Services to develop an antibiotic that could treat infections in children and those caused by bioterrorism.