Monday, December 4, 2023

Regional Report Triangle October 2011


DURHAMMetabolon, which tests medicines and other products for drug companies and universities, raised $13.1 million in venture capital. It plans to expand its business and add 20 employees to its 105-person workforce by the end of this year.

CHAPEL HILLUNC Health Care formally rejected Raleigh-based WakeMed’s $750 million hostile bid to buy Rex Healthcare. The system’s board says the sale would have hurt patient care and increased costs.

CARYHCL Technologies will add 300 employees here by the end of March, doubling its local workforce. A spokesman for the India-based information-technology company says the expansion is the result of new contracts, though he wouldn’t identify the clients.

MORRISVILLE — Rory Read resigned as president and chief operating officer of Lenovo Group to become CEO of Sunnyvale, Calif.-based technology company Advanced Micro Devices. Read spent five years with Lenovo and had been its top local executive since 2009.

CARY — Terrance Marks resigned as CEO of The Pantry to take a similar position at Atlanta-based Hooters of America. The restaurant chain has 435 locations in 44 states and 28 countries. Marks will be replaced on an interim basis by Edwin Holman, chairman of The Pantry’s board of directors.

RESEARCH TRIANGLE PARK — Joe Novak retired as site executive for Cisco Systems here. He was the company’s top executive at RTP. The San Jose, Calif.-based computer-networking equipment maker is laying off 170 of its 4,900 local employees. Ed Paradise, who held the job from 2003 to 2009, will replace him.

DURHAM — Kip Frey resigned as CEO of music-technology maker Zenph Sound Innovations. Frey left due to a disagreement with the board of directors over the company’s future. Zenph appointed co-founder John Q. Walker as interim CEO.

RALEIGH — Red Hat, which sells and services the Linux computer-operating system, will move its local workforce of about 600 from N.C. State’s Centennial Campus to space in Two Progress Plaza that’s now occupied by Progress Energy. The utility is expected to shed jobs here when its merger with Charlotte-based Duke Energy is final. Progress, which has a 30-year lease at the high-rise, will sublet the space to Red Hat.

RALEIGH 6fusion raised $7 million in venture capital. The company, which makes software that helps businesses analyze their cloud-computing needs, will use the money to boost sales and expand.

Call-center operator Affiliated Computer Services will hire 1,500 by Dec. 1 for its Cary and Raleigh offices. Up to 400 of the jobs will be permanent, with the rest lasting three to six months. ACS, a subsidiary of Xerox, already employs 2,300 in the Triangle.


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