MANUFACTURING
* Voyant Technologies Inc., Westminster, was acquired by Polycom Inc., Pleasanton, Calif., a manufacturer of voice conferencing, conference bridges, and integrated Web collaboration solutions. Polycom will acquire all of the outstanding shares and options of Voyant in exchange for approximately $110.7 million in cash, or $95.7 million, net of the expected amount of Voyant cash to be available at the closing. An additional $35 million may be payable in cash or Polycom stock, at Polycom's discretion, to certain stockholders of Voyant, over a two year period based on the completion of certain financial milestones relating to the sale of Voyant products. Bill Ernstrom, Voyant's president and CEO, will continue to lead the Voyant organization. The deal is expected to close during the first quarter of 2004.
* Robinson Brick Co., Denver, will acquire Powers Masonry Supply, allowing Robinson to add block manufacturing capacity and five retail stores, increasing its number of masonry and design centers from seven to 12. Robinson Brick now serves Cheyenne and Casper, Wyo., Fort Collins and Greeley, and Scottsbluff, Neb. This acquisition follows Robinson's acquisition of Billings Brick & Masonry Supply, and Cody Brick & Masonry Supply in July of this year.
RETAIL
* Candy and specialty toy franchiser Fuzziwig's Candy Factory Inc., Durango, will acquire the assets of Sweets From Heaven USA L.P., a Pittsburgh chain of retail candy stores. Fuzziwig's has already assumed management responsibilities for nine company-owned and 26 franchised Sweets From Heaven stores. The acquisition results in Fuzziwig's Candy Factory growing to a total of 63 retail candy and specialty toy stores.
BANKING
* Native American Bank of Denver signed an automated-teller-machine agent agreement with Cleveland-based KeyCorp. The pact provides Native American Bank customers with surcharge-free access to Key's network of more than 1,347 automated teller machines in Alaska, Colorado, Idaho, Indiana, Michigan, New York, Ohio, Oregon, Utah and Washington as well as 716 ATMs in ARCO retail locations in Arizona, California, Nevada, Oregon and Washington. While headquartered in Denver, Native American Bank's retail presence and existing network of five ATMs is concentrated in and around Browning, Mont.
INSURANCE
* Great-West Retirement Services, a unit of Great-West Life & Annuity Insurance Co., Denver, has acquired the group retirement business of Federated Insurance. Federated customers were given the option of transitioning to Great-West or moving their business to another provider. Nearly 87 percent of all Federated's plans elected to enter into a contract with Great-West. Federated elected to discontinue its group-retirement-plan business after determining its clients would be better served by a firm that could provide the product diversity and level of service that its customers had increasingly come to expect.
FINANCE
* MediaNews Group Inc., Denver, plans to issue $300 million senior subordinated notes due in 2013. The notes will be issued in private placements and are expected to be resold by the initial purchasers to qualified institutional buyers. MediaNews intends to use the net proceeds from the sale of the notes and other available funds to repurchase or redeem the company's existing 8.75 percent senior subordinated notes due 2009.
* Allos Therapeutics Inc., Westminster, has completed a $12 million private placement of securities with several institutional investors. The company sold 5,172,412 shares of common stock at a negotiated price of $2.32 per share. The company also issued warrants to purchase approximately 1.7 million shares of common stock at an exercise price of $3.14 per share. The warrants become exercisable on May 20, 2004, and expire on Nov. 20, 2007. Allos Therapeutics expects to use the proceeds from the financing for the development of the company's lead investigational radiation sensitizer, RSR13 (efaproxiral), and for general working capital.
HEALTH CARE
* Centura Health at Home, a member of Centura Health, Denver, is launching a pilot telehealth program for congestive heart failure patients using American TeleCare's products and services. Technology in the patient's home will allow a home-care nurse to interact with the patient using live two-way video over standard phone lines, and to monitor clinical signs on a daily basis and quickly intervene should the patient's condition deteriorate. The pilot program is being underwritten by a grant from the Penrose Hospital Foundation and is being conducted in Colorado Springs.
MARKETING/PUBLIC RELATIONS
* TeleTech Holdings Inc., Denver, will manage product inquiry and availability, order tracking and placement, warranty and delivery information for BestBuy.com. Additionally, TeleTech will use its technology platform, re-engineering processes and operational best practices to enable Best Buy's strategic consolidation and cost improvement initiatives. No terms of the contract were disclosed.
ENERGY
* MarkWest Energy Partners, Denver, has entered into an asset purchase and sale agreement with the American Central Western Oklahoma Gas Co., for the acquisition of American Central's Foss Lake gathering system and Arapaho gas processing assets for approximately $38 million. The acquisition is expected to generate approximately $5.5 million to $6 million per year of cash flow from operations. The Foss Lake Gathering System consists of approximately 167 miles of pipeline connected to approximately 280 wells that gather gas that is ultimately compressed and delivered to the Arapaho processing plant.
MINING
* Crown Resources Corp., Denver, and its Buckhorn Mountain gold deposit in north central Washington will be acquired by Kinross Gold Corp., Toronto. Under terms of the agreement, shareholders of Crown will receive 0.2911 shares of Kinross for each share of Crown, but prior to completion of the acquisition, Crown will dividend to its shareholders its approximate 38.7 percent equity interest in Solitario Resources Corp.
ENVIRONMENT
* Aspen Skiing Co. has established an environmental consulting practice as part of its environmental affairs department. Aspen Sustainability Associates will assist other businesses, governments, and individuals in greening their operations by providing assistance in development and building design, LEED certification, improving community communication, renewable energy procurement and generation, and a host of other environmental issues.
