MERGERS AND ACQUISITIONSECC Technologies Inc., Minnetonka, said that it will be sold. ECC Tek wants potential buyers to make offers based upon the value they believe that its technology would have to their companies. ECC Technologies licenses ECC (error correction code) hardware and software designs for fixing mistakes in storage devices such as hard disk drives.
NEW PRODUCTBoston Scientific Corp., Natick, Mass., said Thursday that it has launched its third-generation drug-coated heart stents, called Promus Element and Taxus Element, in India. Last year the company got approval from the drugs controller general of India to market the stents.
DEBT AND EQUITIESValspar Corp., Minneapolis, declared a quarterly dividend of 18 cents per share, payable April 15 to all common stockholders of record on April 1.
Medtronic Inc., Fridley, approved a cash dividend of 22.5 cents per common share, payable April 29 to shareholders of record on April 8.
LEGAL MATTERSMinnesota Valley Alfalfa Processors, Priam, Minn. will pay a $50,000 civil penalty, and will also pay at least $52,000 for an improvement project regarding alleged air quality regulations. PM Beef Holdings, Windom, has agreed to pay a $49,000 penalty for alleged violations of water quality and hazardous waste laws and rules at its meat-processing plant in Windom. Fines for both companies were issued by the Minnesota Pollution Control Agency.
Entellus Medical, Maple Grove, has entered into a licensing agreement with Acclarent Inc. to resolve their patent lawsuit. As part of the agreement, Acclarent will receive royalties and the companies will file a joint request for the termination of a patent infringement proceeding brought by Acclarent against Entellus on July 28 in the U.S. District Court for the Northern District of California.
