Business Bits

By Hacienda Network Staff Writer

Simpson Strong-Tie Company Inc.

Simpson Strong-Tie Company Inc., a publicly-traded company headquartered in Hacienda, has entered into an agreement to acquire North Carolina company Automatic Stamping. The value of the transaction is over $41 million. Automatic Stamping manufactures and sells a line of high quality truss connector plates. Simpson Strong-Tie designs, engineers and manufactures wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems, as well as stainless steel fasteners and pre-fabricated shearwalls. Simpson Strong-Tie also offers a full line of adhesives, mechanical anchors and powder actuated tools for concrete, masonry and steel.
NeoTract, Inc.

Hacienda's NeoTract, Inc., has taken an important step in the study of its UroLift System, a device proposed for use in men with urinary tract symptoms due to benign prostatic hyperplasia (BPH). Enrollment has been completed in an FDA-approved multi-national study which will involve 206 men, age 50 or older which will investigate the UroLift System as a minimally-invasive device designed to increase the opening of the urethra without removing prostate tissue.

"The L.I.F.T. Study is designed to provide comprehensive information for FDA evaluation. If the UroLift technology keeps performing as it has in previous, single-arm studies, we look forward to offering this new product to U.S. patients," said co-principal investigator Claus Roehrborn, MD, Professor and Chairman of Urology at the University of Texas Southwestern.

"Completing this study is an important milestone for NeoTract and significantly advances our groundbreaking technology," said Dave Amerson, President and CEO of NeoTract. "We look forward to serving the millions of U.S. men who want a better option for BPH."
Ellie Mae

Ellie Mae, a publicly-traded Hacienda company which provides automation solutions for the residential mortgage industry, released a major upgrade to its Encompass360 mortgage management solution, the second such release in 2011. This release contains new functionality and enhancements designed to further increase compliance, efficiency and ease of use. It also introduces Encompass Originator, an integrated front-end technology solution specifically for users of DataTrac mortgage software.

"The industry's changing regulations and procedures are putting a lot of new demands on lenders, and this upgrade provides the tools to respond to many of those demands, whether from regulators or investors," said Jonathan Corr, COO of Ellie Mae. "At Ellie Mae, our clients feel comfortable about voicing their needs because they know we take action. This upgrade reflects the changing needs of our clients, while continuing our mission to build the most streamlined, easy-to-use technology for transacting the highest quality loans."

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January Business Bits

Business Bits