Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Tech Electronics buys Kansas company * St. Louis-based Tech Electronics acquired Professional Fire Alarm Systems Inc., a Topeka, Kan., developer and installer of fire, security, sound and nurse call systems.

Financial terms were not disclosed. Professional Fire Alarm Systems has 25 employees.

It's the fifth acquisition by Tech Electronics in six years, and the privately held company projects revenue of more than $70 million for the fiscal year that ends in March.

"This acquisition bridges the gap between our Columbia and Colorado offices, expanding our services across five continuous states," Kurt Canova, president of Tech Electronics, said in a statement.

Jobless claims drop * The number of Americans filing for unemployment benefits fell to near a six-month low last week.

Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 232,000 for the week ended Aug. 12, the Labor Department said. That was the lowest level since the week ended Feb. 25 when claims fell to 227,000, which was the best reading since March 1973.

Betting firm seeks $100 million * Unikrn, a sports betting digital platform backed by some of the biggest names in media, entertainment and sports, will launch the sale of $100 million in cryptocurrency next month, co-founder Rahul Sood told Reuters.

The sale is part of a trend in which creators of digital currencies sell tokens, also known as initial coin offerings, to fund their projects. Sood explained that Unikrn embraced cryptocurrency as a way to bypass banking institutions.

Seattle-based Unikrn's investors include Mark Cuban, owner of the Dallas Mavericks; actor Ashton Kutcher's firm Sound Ventures; Elisabeth Murdoch's Freeland Ventures; and Shari Redstone's Advancit Capital.

Mylan to pay $465 million * Generic drug giant Mylan has finalized its $465 million settlement with the U. …

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