FINANCE

Target raises dividend

BY Staff Writer

Minneapolis — Target Corp. said Wednesday its board approved the increase of its quarterly dividend by six cents, or 20%, to 36 cents. The chain will pay the dividend on Sept. 10 to shareholders of record as of Aug. 15.

Target Corp. has paid a dividend every quarter since going public in 1967.

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FINANCE

Barnes & Noble’s Riggio settles investor lawsuit

BY Staff Writer

New York — Barnes & Noble Inc. founder and chairman Leonard Riggio agreed on Wednesday to forgo $29 million from a sale of one of his companies to the book retailer in order to settle a shareholder lawsuit, according to court documents, Reuters reported.

The lawsuit goes back to a 2009 agreement by the chain to buy back Barnes & Noble College Booksellers Inc. for $514 million from Riggio.

Shareholders sued Riggio, saying the deal overvalued the college bookstores and enriched Riggio, Barnes & Noble’s largest investor, at the expense of shareholders.

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News

IBM completes acquisition of Tealeaf Technology

BY Staff Writer

Armonk, N.Y. — IBM announced it has completed its acquisition of Tealeaf Technology, a provider of digital customer experience management and customer behavior analysis solutions.

The acquisition extends IBM’s Smarter Commerce initiative with qualitative analytics software that helps organizations deliver an optimal digital experience to their customers via the web and mobile devices.

Tealeaf provides a full suite of customer experience management software, which analyzes interactions on websites and mobile devices. Through these views, chief marketing officers, e-commerce and customer service professionals can spot patterns and address issues in website and mobile application design, making marketing more of a welcomed service for consumers.

“Businesses today are only as good as the online experience that they deliver to their customers. This includes mobile devices such as smartphones and tablets," said Craig Hayman, general manager of industry solutions at IBM. "With IBM and Tealeaf, CMOs as well as e-commerce and customer service professionals will have the insights into the journey of each individual customer and the opportunity to quickly respond to their unique needs and ensure the best experience possible.”

Tealeaf will be integrated into IBM’s Smarter Commerce initiative, specifically, the Enterprise Marketing and Management (EMM) business, which serves CMOs and marketing professionals.

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