SAN JOSE, CALIF. AND DURHAM -- Cisco and EMC, together with VMware, have formed a Virtual Computing Environment coalition, the companies announced Tuesday, to promote private cloud computing.
The three companies have worked closely during the past year on the enterprise, the companies said. A private cloud is a virtual IT infrastructure that is securely controlled and operated solely for one organization. It can be managed by a third party.
"Private cloud computing offers the control and security of today's data center with the agility required for business innovation at substantially lower costs," the companies said.
Cisco and EMC also unveiled Acadia on Tuesday, a joint venture to accelerate customer build-outs of private cloud infrastructures.
Cisco has about 3,000 employees in Raleigh's Research Triangle Park. EMC, which agreed to receive millions in local and state incentives recently to create jobs and expand its footprint in the area, has plans to build a new research facility in Durham and hire nearly 400 workers in the Triangle in the next five years.
Implus Footwear acquires Highgear
DURHAM -- Implus Footcare has further expanded by acquiring Highgear, a Fletcher, N.C.-based maker of performance watches, navigation tools and other accessories, the company announced Tuesday.
"The addition of Highgear to the Implus brand family greatly increases our reach to the growing outdoor consumer segment," said Todd Vore, President of Implus.
The acquisition of Highgear comes on the heels of the company's recent move back to Durham from Morrisville into a 252,000-square-foot space, more than twice its previous footprint. During the past two years, the company has also expanded by acquiring three other brands: Yaxtrax, a line of winter traction footwear, Sneaker Balls, sports air fresheners, and Little Hotties Warmers, hand, body and toe warmers.
Workers comp rates to drop
RALEIGH -- There will be a 9.6 percent decrease to workers compensation rates starting this spring, the N.C. Department of Insurance announced Tuesday.
The department has settled the rate with the N.C. Rate Bureau, an organization representation the state's workers comp insurance companies.
The settlement results in a 9.6 percent decrease in the voluntary market loss costs and no change to the assigned risk markets, effective April 1.
Britain looks to break up banks
LONDON -- The British government moved Tuesday to break up the country's two biggest retail banks, imposing a major shakeup on the financial sector as it exacts payback for last year's massive state bailout at the height of the financial crisis.
The government also injected billions of pounds more of taxpayer funds into Royal Bank of Scotland PLC and Lloyds Group PLC, underscoring worries the banking sector is not out of trouble yet.
-- From staff, wire reports
