Company news

Audio Research Corp., Plymouth, has been acquired by Quadrivio SGR S.p.A, an Italian private equity firm. Audio Research makes high-end audio products. Bayview Capital Group, Wayzata, represented Audio Research in the transaction.

MagStar Technologies Inc., Hopkins, effected a 1-for-2,000 reverse stock split as part of a transaction to take the company private. Each 2,000 shares of the company's common stock were converted into one share of common stock; owners of fewer than 2,000 shares of common stock are entitled to receive 42.5 cents in cash per pre-reverse-split share. The reverse split may not be reflected on the Over-the-Counter Bulletin Board until later in the week, likely Thursday or Friday.

Verizon Wireless, Basking Ridge, N.J., invested nearly $96.5 million in 2007 to enhance its network in Minnesota. The improvements included building new and upgrading existing cell sites, expanding the high-speed wireless broadband network to new markets and improving existing wireless broadband network speeds.

Digi International, Minnetonka, introduced the ConnectPort X4, a wireless gateway to link ZigBee/802.15.4 device networks with IP networks over cellular, Wi-Fi or Ethernet connections.

St. Jude Medical Inc., Little Canada, announced European CE Mark approval of two integrated components: the Cool Point irrigation pump and the IBI-1500T11 cardiac ablation generator.

HealthEast, St. Paul, named Cindy Barr CEO of Bethesda Hospital. Barr was HealthEast vice president for community based services and HealthEast Home Care senior director. Bethesda belongs to the HealthEast Care System.

Innovex Inc., Plymouth, appointed John Clark III and Kenneth White to its board of directors and announced the resignation of board member Robert Buhrmaster. Clark is retired from National Semiconductor but most recently was its senior vice president, general counsel and secretary. White is an executive director for Finansa PCL.

Archer Daniels Midland Co., Decatur, Ill., appointed George Buckley to its board of directors. Buckley is chief executive of 3M Co., Maplewood.