Abiomed receives FDA OK for Impella blood pump

Abiomed Inc. said it has received Food and Drug Administration approval for selling a blood pump. The Danvers medical device company said it was cleared to sell the Impella 2.5 Cardiac Assist Device to the estimated 14,000 cardiologists at about 1,700 hospitals in the United States. (Chris Reidy)

Liberty Mutual Group said it plans to expand operations to India. The Boston insurance company said it will partner with Dabur GI Invest Corp. to form a nonlife insurance company in India to provide personal and commercial insurance products through agents and banks. Under the agreement, Liberty Mutual, through a subsidiary, will initially hold a 26 percent stake in the new company and Dabur will hold 74 percent. (Chris Reidy)

The developers of the massive Seaport Square, a 6.5 million-square-foot neighborhood slated for the South Boston Waterfront, filed new plans with the city of Boston. City officials said the plans don't contain any major departures from what developers had said they would build: 19 buildings, with about 2,500 residential units, 1.4 million square feet in office and research space, and a slightly smaller amount of retail. The development will have a school, library, and cultural facilities, as well as 6 acres of open space, over what is now largely parking lots, and pay $25 million in property taxes when fully built. Developers include Gale International, Morgan Stanley, and W/S Development Associates, LLC. (Andrew Caffrey)

NetSuite Inc. of California said it has agreed to acquire OpenAir Inc., a Boston provider of on-demand professional services automation software. NetSuite agreed to pay approximately $26 million. In addition, at closing, NetSuite said it will assume approximately $5 million of restricted stock units that will be held by the employees of OpenAir and which will continue to vest through mid-2010. This acquisition brings together two of the industry's leading providers of cloud computing business applications, NetSuite said. Cloud computing generally means that a company relies on remote data centers to perform important business tasks rather than on computers located on company premises. (Chris Reidy)

Hopkinton data storage products company EMC Corp. said it extended its tender offer for Iomega Corp. until Friday. The offer of $3.85 per share in cash was already extended last month. EMC has agreed to buy the data storage device maker for $213 million to expand its offerings for small businesses and consumers. The price represented a 20 percent increase over EMC's initial bid of $178 million, or $3.25 per share. EMC said it extended the deadline to give the European Commission time to complete its review of the offer. (AP)

State Street Corp., facing potential losses from investments in mortgage-backed securities, said it will sell $2.5 billion of common stock to bolster capital. The Boston-based company, the world's largest money manager for institutions, may be forced to bail out debt funds, called conduits, whose holdings of securities linked to home loans have fallen in value amid the global credit-market decline. The off-balance-sheet investment pools held $28.3 billion in assets as of March 31. State Street was also forced to mark down its $75.4 billion investment portfolio by $3.16 billion in the first quarter because of declining debt prices. (Bloomberg)

FedEx Corp. plans to stop using the Kinko's name on its copy and office service stores and book an $891 million charge for the quarter that ended Saturday. The charge relates to a decision about the use of the Kinko's name and a write-down of the value of its acquisition of the brand. The charge, which works out to $2.22 a share, was not part of FedEx's earnings forecast. FedEx will change the name of its FedEx Kinko's stores to FedEx Office. (AP)

Ford Motor Co. completed the sale of Jaguar and Land Rover to Tata Motors Ltd. for less than half what it paid for the UK-based luxury brands. Tata, India's biggest truck maker, paid about $2.4 billion, while Ford contributed about $600 million to the Jaguar-Land Rover pension funds, Ford said in a US regulatory filing. (Bloomberg)