Economic Development

Milwaukee-based ARI Network Services Inc., a provider of software and data solutions, announced it has entered into definitive agreements with investors in a private placement of $4.8 million of its common stock at a purchase price of $1.50 per share.

Company owners interested in learning more about the process and prospects of buying or selling businesses are invited to attend the annual BizTimes M&A Forum, which will take place Friday, May 3, at the Pfister Hotel in downtown Milwaukee from 7:30 to 11:30 a.m.

Krista McMasters, CEO of CliftonLarsonAllen, will retire effective April 1 after 35 years with the firm.

Wisconsin's seasonally adjusted unemployment rate spiked to 7.0 percent in January, up from 6.7 percent in December, according to preliminary estimates released by the state Department of Workforce Development on Thursday.

Milwaukee-based Artisan Partners Asset Management Inc. held an initial public offering last week with shares priced at $30 on the New York Stock Exchange. The share price quickly rose to $36.

Glendale-based Johnson Controls Inc. is considering a divestiture of its automotive electronics business.

Racine-based Johnson Financial Group announced the appointment of Todd Shaffer as chief risk officer for the company.

BMO Private Bank announced it has hired Peter Koleske as vice president and private banker in Milwaukee.

John Blau has been appointed to the newly created position of vice president and chief credit officer at Pewaukee-based Foundations Bank.

Standard & Poors has upgraded its rating of MGIC Investment Corp. to B-, up from CCC+, as a result of the company’s capital raise last week.