Industry Report

Avaya, the Basking Ridge-based communications network developer, today authorized a plan to repurchase up to $500 million outstanding shares of its common stock over the next two years. The share repurchase plan will be funded using cash, officials said.

"This plan underscores Avaya's financial strength," said Caroline Dorsa, CEO, Avaya.

Vonage, the Holmdel-based broadband telephone service provider, reported a net loss of $65 million for its fourth quarter

Verizon Wireless has purchased the operating assets of West Virginia Wireless for an undisclosed cash price, the company said today.

Cyclacel Pharmaceuticals, a Berkeley Heights-based biotechnology company developing cancer drugs, has agreed to raise $36 million before fees and expenses by selling shares of its common stock and warrants. It is a registered direct financing, which means that it is not being underwritten. Shares of Cyclacel were down $0.33 to $8.17 in early...

Pioneering telecom firm keeps branching out in search of growth

Entrepreneurs can start cashing out without actually leaving the company

The owners of Mountain Lakes’ Pinnacle Foods have agreed to sell the firm to affiliates of New York City-based The Blackstone Group for about $2.16 billion in cash and the assumption of debt. Under the deal, an affiliate of The Blackstone Group is expected to merge with Crunch Holding, the direct owner of privately held Pinnacle, which owns...

Biz Briefs

Around the State - North Jersey

But observers say economic forces will drive a renewed surge

Biz Briefs