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Smart meters come to Hub

Boston will replace all 8,000 parking meters in the Hub with "next generation" smart meters.

The Back Bay and Innovation District will get multispace meters, which allow more vehicles to fit in a block of spaces, the city said. The rest of the parking meters will be replaced by meters that will accept change, credit cards and cell phone payments. The smart meters also will collect real-time data about whether a space is occupied.

The move, announced yesterday as part of Mayor Martin J. Walsh's transportation initiatives, is expected to cost $5 million. Replacement of the parking meters will begin by the end of the year.

Heinz buy of Kraft just latest merger

Wall Street's deal-making renaissance shows no sign of ending.

Heinz's $45 billion acquisition of Kraft Foods, announced yesterday, has helped maintain the momentum in the market for mergers and acquisitions.

So far this year, companies globally have struck deals worth $802 billion, according to data provider Dealogic. That compares with $733 billion in the first quarter of 2014 and makes it the best first quarter for deal-making in at least five years.

Other big deals in the works include Simon Property's bid to buy rival Macerich, and AbbVie's deal to buy Pharmacyclics.

• Tufts Health Plan announced the appointment of Marc Backon, left, to senior vice president and chief sales and marketing officer for its commercial products division. Backon brings more than 25 years of health care ex­perience to this position.

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