3M Divests From Traffic Tech Unit

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Via News Release

“ST. PAUL, Minn. — 3M announced today that it has entered into agreements to sell its tolling and automated license/number plate recognition business, which is part of 3M’s Traffic Safety and Security Division, to Neology, Inc., a leading provider of integrated solutions for tolling, electronic vehicle registration and public safety applications. Neology is a subsidiary of SMARTRAC, a portfolio company managed by One Equity Partners, a middle-market private equity firm.”

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Target To Expand Ecommerce Capability With ‘Restock’

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By Sarah Perez, TechCrunch

“Target announced this morning it’s now testing a next-day home delivery service called Target Restock. The service, which is currently being trialed with Target employees ahead of a customer-facing pilot this summer, is designed to offer an easy way to shop online for household essentials which will arrive the day after you place your order.”

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Best Buy Adds 4 Teen Tech Centers in Minnesota

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Via News Release

Best Buy is growing its network of after-school tech programs for teens by adding four new locations in Minneapolis and St. Paul, Minnesota. That makes for 15 Best Buy Teen Tech Centers across the United States. The free centers are open year-round and give underserved teens hands-on access to the latest technology.”

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Casey Carl Is Leaving Target

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Screen Shot 2017-04-20 at 10.45.42 AMBy Kavita Kumar, Star Tribune

Casey Carl, a Target Corp. lifer and currently its chief innovation and strategy officer, is leaving the company amid a narrowing of innovation efforts to those that yield faster results tied to its core business.

He is one of the most senior among a number of digital- or innovation-focused executives who have left the Minneapolis-based retailer in the last year.”

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Stratasys Steps Up Student Outreach

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Screen Shot 2017-04-08 at 12.08.31 PMBy Dee DePass, Star Tribune

Stratasys Ltd. employees ran a marathon of sorts this week as they dashed to dozens of Twin Cities schools to introduce 3,500 students to the wonderment of 3-D printing.

The effort was the company’s first large-scale effort to instantly reach out to thousands of students about STEM (science, technology, engineering and math). It culminated on Friday with 93 students visiting the company’s Eden Prairie headquarters in a partnership with the national black sorority Delta Sigma Theta.”

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Optum’s New VC Arm Invests $7.5M In HealthTech Startup SHYFT Analytics

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Optum-SHYFT-280By Sam Schaust, Twin Cities Business

“The investment arm of Optum, the fast-growing, technology-focused health services subsidiary of UnitedHealth Group, recently participated in a $20 million funding round for medtech startup SHYFT Analytics.

Optum Ventures’ investment of $7.5 million pushed Waltham, Massachusetts-based SHYFT over its funding goal. The startup did not specify what its Series B funding round goal was, but it did state the round was oversubscribed.”

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Best Buy’s E-commerce President and CMO Are Leaving

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Best BuyBy Kavita Kumar, Star Tribune

“Two top Best Buy executives are leaving the company as CEO Hubert Joly reshuffles his leadership team’s responsibilities. The two departing leaders are Mary Lou Kelley, Best Buy’s president of e-commerce, and Greg Revelle, the Richfield-based retailer’s chief marketing officer, said sources familiar with the matter. Both executives were hired by Joly in 2014.”

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Target Names New CISO

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Screen Shot 2017-03-10 at 6.42.46 AMBy Clint Boulton, CIO.com

“Target has promoted Rich Agostino to CISO, following the departure of Brad Maiorino, who moves to Booz Allen Hamilton’s U.S. commercial business. Maiorino, whom Target hired from General Motors to mitigate a major cybersecurity breach in June 2014, hired Agostino from General Electric as his vice president of information security in September 2014.”

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Best Buy Grew Web Sales Faster Than Amazon And Wal-Mart Last Year

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By Allison Enright, Internet Retailer

Best Buy Co. Inc.’s online sales grew at a faster clip than the U.S. e-retail industry average in 2016, and they outperformed online leaders Amazon.com Inc. and Wal-Mart Stores Inc.

Best Buy’s web sales grew 20.8% for the fiscal year ended Jan. 28 and totaled $4.85 billion. The average growth in U.S. e-retail was 15.6%, per estimates released by the U.S. Commerce Department last month, while Amazon’s product sales clocked 19.4% growth and Wal-Mart’s e-commerce sales grew 15.5% globally.”

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Deluxe Buys Fintech Firm RDM For $70m

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SYjoDzl0Via News Release

“SHOREVIEW, Minn. — Deluxe Corporation (DLX, NYSE) announced today that, through a wholly owned subsidiary, it has entered into a definitive agreement to acquire 100 percent of the stock of RDM Corporation (RC, TSX) of Canada for approximately $70 million US in cash, net of estimated cash to be acquired.”

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