ZoomInfo bought by private equity firm for $240m


ZoomInfo bought by private equity firm for $240m

Business contact database provider Zoom Information Inc. of Waltham has been acquired by Boston-based private equity firm Great Hill Partners for $240 million in cash. ZoomInfo chief executive Yonatan Stern said he decided to sell the privately-held company, better known as ZoomInfo, because “it’s time for me to move on . . . . I’m not going to retire, but I want to move the center of my life to Israel,” where Stern has lived there since 2004. ZoomInfo employs about 200 people, most of them in Waltham. The company has a database containing the names, addresses, and phone numbers of 200 million business people worldwide, including 80 million in the United States. Companies use the ZoomInfo database to precisely target their sales and marketing efforts. — HIAWATHA BRAY


Cambridge College to open in Charlestown

Cambridge College Friday will open a new facility in Charlestown, consolidating from its two buildings in Cambridge. The school is moving in to 108,000 square feet in Hood Park on Rutherford Ave. in Charlestown, a location – with parking – that it says will be easier for many students to reach and close to growing companies in health care and biotechnology. The new school opens Friday, with a grand opening celebration set for October.


Maker of EpiPen settles with government for $465 million in overbilling case

EpiPen maker Mylan has finalized a $465 million government agreement settling allegations it overbilled Medicaid for its emergency allergy injectors for a decade — charges brought after rival Sanofi filed a whistleblower lawsuit and tipped off the government. It’s the second settlement with the Department of Justice that Mylan has made since 2009 for allegedly overcharging the government for its medicines. A prominent senator and a watchdog group both criticized the latest settlement for being far smaller than the amount Medicaid was overcharged. Mylan NV, technically based in England but with operational headquarters near Pittsburgh, became a poster child for pharmaceutical industry greed for hiking the list price of EpiPens repeatedly. It raised the price per pair from $94 in 2007 to $608 last year, while experts estimate it costs less than $10 to produce one EpiPen. — ASSOCIATED PRESS


Woman sentenced to three years in prison for poisoning coworkers’ coffee

A Virginia woman has been sentenced to more than three years in prison for poisoning her coworkers’ coffee with Windex and dish soap. Loudoun County Commonwealth’s Attorney Jim Plowman announced the sentence Thursday for 33-year-old Mayda Rivera Juarez of Sterling. She pleaded guilty in February to adulteration of food with intent to injure. Prosecutors say co-workers at JAS Forwarding Worldwide in Sterling began experiencing stomach pain and vomiting beginning in January 2016. In October, a victim began to suspect someone was tampering with the coffee. Prosecutors say a supervisor then found security footage showing Rivera Juarez pouring Windex into the breakroom coffee maker. Authorities say Rivera Juarez was trying to make her boss sick. She also admitted putting soap into the coffee machine and once directly into her boss’s cup. — ASSOCIATED PRESS



Coke to replace Pepsi at Arby’s

Coca-Cola Co. has won the contract to sell soft drinks at fast-food chain Arby’s, edging out PepsiCo Inc. in the latest battle over restaurant beverage service. The deal will add more than 3,200 Arby’s locations to Coca-Cola’s base of restaurant clients. Atlanta-based Arby’s Restaurant Group Inc. is controlled by Roark Capital Group, which also owns Coke clients Hardee’s and Carl’s Jr. Arby’s has been a PepsiCo customer for more than a decade. Switches between the two soda giants have become increasingly rare in recent years, with restaurant chains sticking with one or the other. But PepsiCo won over Subway Canada last year, unseating Coke. — BLOOMBERG NEWS



Rates edge lower

Long-term US mortgage rates edged lower this week. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages slipped to 3.89 percent from 3.90 percent last week. While historically low, that’s still above last year’s average of 3.65 percent. The benchmark rate stood at 3.43 percent a year ago. The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, fell to 3.16 percent from 3.18 percent last week. — ASSOCIATED PRESS


House Democrats to probe prices for MS drugs

House Democrats have started what they called an “in-depth” investigation into the pricing of drugs for the neurological condition multiple sclerosis, the latest attempt by US politicians to pressure manufacturers to lower costs. Seven drugmakers — Biogen Inc., Sanofi, Novartis AG, Roche Holding AG, Bayer AG, Merck KGaA’s EMD Serono unit, and Teva Pharmaceuticals Industries Ltd. — received letters requesting information on pricing strategies from Elijah Cummings and Peter Welch, two representatives who sit on the House Committee on Oversight and Government Reform. Some pharmaceutical companies appear to be “setting new, higher prices in lockstep with competitors — a strategy known as “shadow pricing,” Cummings and Welch said, noting that the average annual cost of therapy had increased to more than $60,000 in 2015 from about $16,000 in 2004.



Output down in July, driven by auto slump

A slump in the auto industry drove US factory output down in July and has kept it flat for months. The Fed said Thursday that factory production dropped 0.1 percent last month, pulled down by a 3.5 percent plunge in output of cars, trucks, and auto parts. Auto production has dropped for three straight months and is down 5 percent over the past year. Auto sales, which have been strong in recent years, skidded 7 percent in July. The drop in automotive production was partially offset in July by a 0.2 percent rise in other manufacturing output. — ASSOCIATED PRESS


Ford to pay up to $10.1m to settle harassment allegations

Ford Motor Co. has agreed to pay up to $10.1 million to settle sexual and racial harassment allegations by workers at two Chicago-area plants. The settlement announced this week follows an investigation by the US Equal Employment Opportunity Commission, which says it found evidence that employees at the Chicago Assembly Plant and the Chicago Stamping Plant subjected female and black workers to sexual and racial harassment. Dearborn-based Ford says it chose to voluntarily settle the allegations without any admission of liability ‘‘to avoid an extended dispute.’’ The company says it conducted its own investigation and ‘‘took appropriate action, including disciplinary action up to and including dismissal.’’ Under the agreement, Ford will conduct training for workers and continue to distribute anti-harassment and anti-discrimination policies and procedures to employees. — ASSOCIATED PRESS