MERGERS AND ACQUISITIONS H.B. Fuller Co., Vadnais Heights, has agreed to acquire Nordic Adhesives, a developer and maker of flexible packaging adhesives based in Buxtehude, Germany. Terms were not disclosed. Nordic's 2008 net revenue was about $9 million.
NEW BUSINESS Polaris Industries Inc., Medina, has a marketing and product-development agreement with NASCAR and three-time Baja 1000 Trophy Truck winner Robby Gordon. The three-year agreement includes Gordon's provision of insight for future products and promoting Polaris' Ranger RZR Side-by-Sides.
NEW PRODUCTS Medtronic Inc., Fridley, announced approval of its Endeavor drug-eluting coronary stent (DES) system by the Japanese Ministry of Health, Labor and Welfare, clearing the way for use of the product in Japan. Medtronic plans to launch the system immediately after authorization of reimbursement, which is expected May 1. When in use in Japan, the Endeavor DES will be commercially available for treatment of coronary artery disease in every major market in the world. Medtronic says the Endeavor DES provides long-term safety and durable efficacy in the treatment of coronary artery disease.
RENAMING Decision Intelligence Inc., an Eden Prairie-based analytical database-marketing company, has changed its name to Clario Analytics.
PERSONNEL The Minnesota High Tech Association, Minneapolis, has elected Rich Baker, Sandra Lee, Don Leeke and Pat Ryan to its board of directors. Baker is vice president of engineering for MTS Systems Corp. Lee is vice president of RJ Ahmann Co. Leeke is Microsoft Corporation's director of enterprise sales for the North Central District. Ryan is vice president of research and development for Seagate Technology's Alternative Technology Group.
DEBT AND EQUITIES Lecere Corp., Rochester, will proceed to raise $7.05 million though a non-brokered private placement of up to 47 million common shares at 15 cents per share. Proceeds will be used to fund business and market development activities, expansion of Lecere's software offerings and for general corporate purposes.
