3M Co., Maplewood, declared a quarterly dividend of 51 cents per share payable March 12 to shareholders of record Feb. 20.
Granite City Food & Brewery Ltd., St. Louis Park, announced debt and rent reduction agreements worth $4 million. The company has an agreement with its principal developer and landlord to provide rent or other cash-flow reductions to the company of $2.5 million for the calendar year 2009 and $1.5 million for calendar year 2010. Granite City entered into a master agreement with Dunham Capital Management; DHW Leasing, and Dunham Equity Management to make reductions in leases and rents.
MERGERS AND ACQUISITIONS
SwiftKnowledge, Eden Prairie, a global provider of Web-based business intelligence software, has bought essentially all of the assets of SwiftKnowledge Inc., including all of its intellectual property. The purchase was made by Robert Olson, who becomes chief executive officer of SwiftKnowledge. Olson was founder, chairman and CEO of Stellent Inc., an Eden Prairie-based enterprise content management software provider acquired by Oracle Corp. for $440 million in March 2007. Olson retained all SwiftKnowledge Inc. employees, including company founders Daniel Moloney and Allie Gentry. Moloney becomes president and chief operating officer at SwiftKnowledge. Gentry is the new company's chief technology officer and chief financial officer.NEW BUSINESS
Lawson Software, St. Paul, said that MedicalEdge Healthcare Group licensed Lawson QuickStep Healthcare along with the Lawson Human Resource Management and Lawson Business Intelligence suites.
Lorton Data, a Minneapolis-based provider of data quality services, has named Ray Davey president. Davey previously was chief executive officer of Humagine, a Minneapolis consultancy that works with business owners, CEOs, and professional executives on personal, professional, and organizational development and growth.