Mobile Technologies LLC, an East Liberty-based mobile speech translation company, announced that it will be acquired by Facebook for an undisclosed figure. The company will move to Facebook's Menlo Park, Calif., headquarters when the deal is finalized. Founded in 2001 by Carnegie Mellon University computer science professor Alex Waibel, Mobile Technologies product line includes a speech-to-speech translator for smartphones and tablets and an automatic interpretation service designed for educational settings.
Mastech health care unit sold
Pittsburgh-based Mastech Holdings Inc., which specializes in providing information technology and health care staffing, has sold its health care unit to Accountable Healthcare Staffing Inc. of Boca Raton, Fla., for $1.15 million.
3-D printer net loss narrows
The ExOne Co. said Tuesday its net loss narrowed in the second quarter on sales that nearly doubled from the same time last year. The North Huntingdon maker of 3-D printers for making complex parts from digital images lost $1.1 million, or 8 cents per share, versus a loss of $3.6 million a year earlier before it was a public company. The consensus estimate on Wall Street was for a loss of 6 cents per share. Revenue was $9.2 million, up from $4.7 million. The company projected revenue for the full year would be at the lower end of its previous guidance of $48 million to $52 million. Results were released after the close of the stock market. Shares rose $4.91, or 7 percent, to close at $75.67 on Tuesday, but fell in after-hours trading. Top executives were to discuss the results in a conference call with analysts this morning.
Credit card late payments fall
The rate of credit card payments at least 90 days overdue fell in the second quarter to 0.57 percent. That's the lowest level since 1994, credit reporting agency TransUnion said Tuesday. Americans' credit card debt dropped $2.7 billion in June and remains 16.5 percent below its July 2008 peak, according to the Federal Reserve.
Penney's board member leaves
The boardroom drama may be over, but J.C. Penney is still grappling with an uncertain future. William Ackman has resigned from J.C. Penney's board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator. Mr. Ackman's Pershing Square Capital Management is Penney's biggest stockholder with a 17.7 percent stake.
Scott Sturgis' regular Wednesday auto column will appear in the Thursday Business Section.
From staff and wire reports