August 2002

This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings please:

mail it to:
For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293

or e-mail it to ForTheRecord@va-business.com,
or fax it to (804) 649-6311.

Mergers and Acquisitions
Veritect, a Reston-based security services affiliate of Veridian Corp., was purchased by RedSiren, a global provider of outsourced information security solutions headquartered in Pittsburgh. (06/19/02, Potomac Tech Journal)

PRA International Inc., a McLean-based pharmaceutical research lab, merged with CroMedica International Inc., a contract research firm and a developer of treatments for central nervous system disorders headquartered in Victoria, B.C. (06/18/02, Potomac Tech Journal)

Best Software, a business management software company based in Reston, acquired the human resources e-learning courses and compliance management service of Boston-based HR One Inc. (06/18/02, Potomac Tech Journal)

PEC Solutions Inc., a Web-based integrated services provider headquartered in Fairfax, acquired the assets of Vector Research Inc., a subsidiary of Altarum, a nonprofit research company based in Ann Arbor, Mich. for $5.7 million. (06/17/02, Potomac Tech Journal)

McDonald Bradley Inc. of McLean, an information technology services provider, acquired Domain Technologies Inc. of Arlington, an information technology government contractor.(06/17/02, Potomac Tech Journal)

KPMG Consulting Inc., a business consulting and systems integration firm based in McLean, agreed to acquire KPMG AG, the German, Swiss and Austrian units of KPMG DTG for $685 million. (06/10/02, PR Newswire)

George A. Jeffreys & Co., a Salem-based biological products developer, will be acquired by Novozymes of Denmark and integrated into Novozymes Biologicals. (06/12/02, Press release)

comScore Networks of Reston, a data solutions provider, acquired portions of Jupiter Media Metrix's Internet audience measurement service for $1.5 million. comScore will open a New York office. (06/07/02, Potomac Tech Journal)

Northern Virginia Community Hospital, a 164-bed hospital in Arlington, will be acquired by Nashville, Tenn.-based HCA, Inc., a healthcare services integrator. (06/06/02, PR Newswire)

Allied Research Corp., a defense and security firm based in Vienna, will acquire Titan Dynamics Systems Inc. of Marshall, Texas, an engineering and manufacturing company. (06/06/02, PR Newswire)

Media General Inc., a communications company headquartered in Richmond, plans to acquire assets of Boxerjam, a Charlottesville-based provider of online entertainment. The new company will be Boxerjam Media. (06/05/02, Press release)

ioWave® Inc. of Arlington, a wireless equipment developer, acquired Hybrid Networks of San Jose, Calif., a fixed wireless solutions company. (06/05/02. Press release)

Dominion Retail Inc., a subsidiary of Dominion, an energy company headquartered in Richmond, acquired 150,000 Pennsylvania and Ohio retail customer accounts in deregulated markets from Allegheny Energy Supply, an integrated energy company based in Hagerstown, Md.(06/04/02, Business Wire)

Cycomm International Inc., a McLean-based maker of computer systems will buy D.M. Data Corp., a software producer for emergency services, headquartered in Marlton, N.J. (05/31/02, The Washington Post)

IIT Research Institute, a research and development company headquartered in McLean, acquired Daedalic Inc., a software module provider based in O'Fallon, Ill. (05/31/02, Potomac Tech Journal)

United Defense Industries of Arlington, a designer and developer of military weapons systems, will acquire United States Marine Repair Inc., a Norfolk-based ship repair company for $316 million. (05/28/02, PR Newswire)

BACK TO TOP

Deals
The Packett Group, an advertising and public relations agency based in Roanoke, was chosen to handle marketing and public relations for a foundation established from the sale of Memorial Hospital in Martinsville. (06/18/02, Press release)

Data Systems & Solutions of Reston, a provider of predictive maintenance technologies and integrated asset management solutions, was awarded a contract by Marathon Oil Company of Houston, Texas, an explorer and producer of crude oil and natural gas, to implement a compliance data reporting system in Marathon's business units worldwide. (06/11/02, PR Newswire)

US Airways, an headquartered in Arlington, announced that US Airways Express carrier, PSA Airlines, a wholly-owned subsidiary of US Airways Group Inc., reached an agreement with the Air Line Pilots Association to allow operation of regional jet aircraft. (06/10/02, PR Newswire)

IIT Research Institute of McLean, a research and development nonprofit, partnered with ArrayComm Inc., a wireless technology company headquartered in San Jose, Calif., to work on wireless data innovations. (06/10/02, Potomac Tech Journal)

Information Analysis Inc., an information technology services company based in Fairfax, was awarded a contract by Northrop Grumman, a designer and developer of defense systems headquartered in Los Angeles, Calif., to provide product and services for modernization of the Air Force's Standard Base Supply System application. (06/10/02, Press release)

Mobile Satellite Ventures, a mobile satellite communications services provider based in Ottawa with operations in Reston, partnered with SOLA Communications Inc. of Scott, La. and EMS Technologies Inc. of Atlanta to provide a satellite communications solution for gathering information from remote locations in various industries. (06/11/02, PR Newswire)

Xybernaut Corp., a Fairfax-based producer of wearable computer equipment, partnered with World Wide Technology, a B2B consultant and IT services provider headquartered in St. Louis, Mo., to make an offering of equipment and services through the General Services Administration schedule. (06/05/02, Potomac Tech Journal)

Talk America of Reston, an integrated communications provider, plans to have its discounted flat rate packages of local and long distance services offered through the Web sites of Seattle-based telecommunications firm Cognigen Networks Inc. (06/05/02, PR Newswire)

OMSpecialties, a specialty sales organization of Owens & Minor, a distributor of national name-brand medical/surgical supplies headquartered in Richmond, signed a marketing agreement with Sterion, Inc. of Minnesota, a maker and assembler of disposable medical supplies. (05/30/02, PR Newswire)

Orbital Sciences Corp., a Dulles-based provider of space systems and rocket launching services, was selected by Waukesha County, Wis. to provide a system for monitoring highway maintenance vehicles. (05/29/02, Potomac Tech Journal)

Orbital Sciences Corp. of Dulles, a developer of space systems, was chosen by the City of Phoenix for a $22 million contract to supply in-vehicle components and software solutions for a vehicle management system. (05/30/02, PR Newswire)

American Management Systems, an information technology consulting firm headquartered in Fairfax, will provide a procurement management solution for The Boeing Company, an aerospace company based in Chicago. (05/29/02, PR Newswire)

MAXIMUS of Reston, a provider of government services solutions, was selected by the State of New Jersey to provide an array of federal revenue maximization services for a fee based on a percentage of each new federal dollar brought into the state. (05/31/02, Business Wire)

Ricciardi Technologies Inc. of Fairfax, a software development and consulting company, entered a strategic alliance with Universal Detection Technology, a Los Angeles-based provider of environmental monitoring technologies to integrate its SensorView platform technology with UDT's chemical and biological warfare agent detection device. (05/30/02, Business Wire)

Microstrategy Inc., a McLean-based provider of business intelligence solutions, will anchor the proprietary software package Engine For Marketing™ from Harmonic Communications of San Francisco, a provider of marketing and media optimization software. (05/28/02, PR Newswire)

BACK TO TOP

New Plants and Companies
Next Generation Media Corp., based in Springfield, established a franchise operation in Prince William County through its subsidiary, United Marketing Solutions Inc., offering direct mail and marketing products and services. (06/11/02, Business Wire)

Continental Airlines, an airline transportation company headquartered in Houston, plans to offer twice daily, nonstop service from Richmond to Houston, beginning November 1. (06/10/02, PR Newswire)

Alleghany Highlands Economic Development Corp. was formed to market the region's industrial parks and other business sites after the financial ruin of the Allegheny Economic Development Authority. (05/31/02, The Roanoke Times)

Compass Energy Services Inc., a new energy procurement consulting firm, will base its corporate headquarters in Chesterfield County. (05/30/02, Press release)

BACK TO TOP

Executive Promotions
Paul T. Hanrahan, CEO, AES Corp. in Arlington. (06/19/02, Washington Post)

W. Alan McCollough, chairman, Circuit City Stores Inc. in Richmond. (06/18/02, PR Newswire)

Bruce Hayden, CFO, Galt Associates Inc. in Sterling. (06/17/02, Business Wire)

John P. Hollerbach, executive vice president and CFO, Cardinal Financial Corp. in Fairfax. (06/12/02, Business Wire)

Christopher Nelson, CFO, Vcampus® Corp. in Reston. (06/12/02, Business Wire)

Elizabeth A. Fessenden, president, Alcoa Flexible Packaging in Richmond. (06/12/02, Press release)

David F. Host, president, CEO, T. Parker Host Inc. in Norfolk. (06/06/02, Press release)

Paul F. Rocheleau, CFO, Albermarle Corp. in Richmond. (05/31/02, PR Newswire)

Robert L. "Bob" Bailey, president, Bank of Williamsburg in Williamsburg. (05/28/02, PR Newswire)

BACK TO TOP

Contracts
McNeil Technologies Inc., Springfield: $1.5 million over one year from the Department of Defense to provide language services. (06/20/02, Press release)

CACI International Inc., Arlington: $163.5 million over five years with one base year and four option years to provide information technology support to the Space and Naval Warfare Systems Command in Norfolk. (06/20/02, Potomac Tech Journal)

Anteon International Corp., Fairfax: $1.6 million to provide software development for the Air Force's cargo movement operations. (06/19/02, Potomac Tech Journal)

Anteon International Corp., Fairfax: $3.4 million from the Veterans Benefits Administration to develop, design, assess and implement training products and to provide software engineering, systems integration and life-cycle support for VA staff appraisers. (06/17/02, PR Newswire)

Computer Sciences Corp., Falls Church: $75 million over five years to provide software and systems services to the Defense Finance and Accounting Service to support the United States Marine Corps. (06/18/02, PR Newswire)

Cryptek Inc., Sterling: $4.8 million from General Dynamics to provide a secure facsimile device for the U.S. Army Communications Electronics Command. (06/18/02, PR Newswire)

Anteon International Corp., Fairfax: $1.5 million with one option year to provide a range of services to U.S. forces at Ali Al Salem Air Base in Kuwait. (06/13/02, PR Newswire)

General Dynamics, Falls Church: $128 million to its Canadian subsidiary from the Canadian Department of National Defense to supply and integrate a new data management system for long-range patrol aircraft. (06/12/02, PR Newswire)

Anteon International Corp., Fairfax: $8 million subcontract over four years with three option years from BAE Systems to support the Navy's AEGIS ship program. (06/12/02, PR Newswire)

TUCON Construction Corp., Dulles: $9 million to build a 48,000-square-foot addition to the Prince William County Judicial Center in Manassas. (06/12/02, Press release)

Raytheon Co., Reston: $27 million, including a base year and four one-year options, from the Naval Education and Training Professional Development and Technology Center to provide training and technology products and services. (06/11/02, PR Newswire)

SI International, McLean: $3.4 million over four years from the United States Space Command to provide ballistic missile defense planning and development support. (06/11/02, PR Newswire)

American Management Systems, Fairfax: $4.8 million over three years from the State Auditor's Office of the State of Wyoming to host the state's payroll system and other accounting procurement services. (06/11/02, PR Newswire)

Dyncorp Technical Services, Reston and EWA Services, Herndon: $221 million over five years from the U.S. Army Test Command to provide test planning, data collection and other services. (06/11/02, Potomac Tech Journal)

SIGNAL Corp., Fairfax: $70 million of $175 million over 10 years from the U.S. Department of Transportation's Federal Highway Administration to provide LAN engineering and support. (06/11/02, Press release)

Computer & Hi-tech Management Inc., McLean: $1.75 million from the Internal Revenue Service to support its Office of Technical Contract Management. (06/10/02, Potomac Tech Journal)

Halifax Corp., Alexandria: $3 million over six months from the Army Corps of Engineers for the installation of a communications network at a new facility. (06/05/02, PR Newswire)

General Dynamics, Falls Church: $104 million from the U.S. Department of Defense as modifications to existing contracts with two of General Dynamics' units for support of the Abrams tank program and procurement of ammunition. (06/04/02, PR Newswire)

CACI International Inc., Arlington: $24 million from the U.S. Naval Research Laboratory to develop electronic warfare systems relating to decoy missiles. (06/03/02, Potomac Tech Journal)

General Dynamics C4 Systems, Falls Church: $11 million increase to existing contract from the Army's Communications-Electronics Command in Fort Monmouth, N.J. to provide computer hardware and software. (05/31/02, Potomac Tech Journal)

Hadron Inc., Alexandria: $163.7 million over nine years from NASA to provide launch support services at Cape Canaveral Air Force Station in Florida. (05/29/02, Potomac Tech Journal)

INDUS Corp., Vienna: $175 million over 10 years from the U.S. Department of Transportation's Federal Highway Administration to provide information technology support services. (05/29/02, PR Newswire)

Analex Corp., a subsidiary of Hadron Inc., Alexandria: $163.7 million over nine years from The National Aeronautics and Space Administration to provide a range of expendable launch Vehicle support services. (05/29/02, PR Newswire)

Anteon International Corp., Fairfax: $9.3 million from the U.S. Army Simulation, Training, and Instrumentation Command to support combat training range instrumentation programs. (05/28/02, PR Newswire)

RS Information Systems, McLean: $10 million over five years from the Meteorological Development Laboratory to support the development and maintenance of hydro-meteorological applications. (05/24/02, Business Wire)

BACK TO TOP

Cutbacks and Closings
Deere & Co. of Illinois, a builder of Gator utility vehicles, plans to shut down its plant in Stonehouse Commerce Park in James City, eliminating 200 jobs. (06/18/02, Daily Press)

64 magazine of Richmond suspended publication after its July edition. (06/11/02, Times Dispatch)

CropTech Corp., a manufacturer of biopharmaceuticals based in Blacksburg, will move its headquarters to Charleston, S.C. and start construction of a $40 million manufacturing facility. (05/31/02, Richmond Times Dispatch)

Universal Corp., a tobacco leaf merchant headquartered in Richmond, plans to close its tobacco processing plant in Henderson, N.C. a year earlier than announced. Approximately 400 seasonal and 130 full-time workers will be affected by the closure. (05/31/02, Richmond Times-Dispatch)

BACK TO TOP

Divestitures
Via Net.Works, a Reston-based Internet service provider, sold its operations in Argentina, Brazil and Austria. (06/11/02, Potomac Tech Journal)

United Dominion Realty Trust Inc., a multifamily real estate investment trust headquartered in Richmond, sold two properties totaling 408 apartment homes in Tucson, Arizona for $12.3 million. (06/11/02, Business Wire)

Landmark Communications Inc., a Norfolk-based media company, sold its billboard subsidiary, American Outdoor Advertising Inc. to Lamar Advertising Co. of El Paso, Texas. (06/05/02, The Virginian-Pilot)

Cumberland Hospital of New Kent, an 84-bed hospital owned by The Brown Schools of Nashville, a provider of education and therapeutic services for adolescents with extraordinary needs, was sold to Nashville-based Ardent Health Services, a provider of community health care services. (06/04/02, Business Wire)

Crosswalk.com, a firm offering Christian-oriented content headquartered in Chantilly, plans to sell its Web portal and e-mail business to Salem Communications of Camarillo, Calif., for $4.1 million. (06/03/02, Potomac Tech Journal)

BACK TO TOP

Expansions
Narroflex Inc. of Ontario, Canada, a multinational textile manufacturer, will expand its existing textile facility in Patrick County, saving 245 jobs and creating 205 new jobs through a $9 million investment. Virginia competed with North Carolina for this project. (06/18/02, Press release)

The Whitlock Group of Richmond, a provider of television, video-production, audiovisual and videoconferencing solutions, will expand operations by opening an office in Houston. (06/18/02, Press release)

US Airways, an Arlington-based airline, applied with the U.S. Department of Transportation for route authority to serve Nassau in The Bahamas from Ronald Reagan Washington National Airport. (06/11/02, PR Newswire)

Kentucky Derby Hosiery, a Hopkinsville, Ky. hosiery manufacturer, will expand operations in Carroll County employing 72 new workers. Virginia competed with Kentucky and North Carolina for this project. (06/11/02, Press release)

Marine Hydraulics International Inc., a private shipyard based in Norfolk, plans to buy from Norfolk Southern Corp. the property next to Lambert's Point Docks and build a 1,400-foot pier to handle work on the Navy's amphibious assault ships. The project is an estimated $10 million investment. (06/06/02, The Virginian-Pilot)

US Airways, an airline headquartered in Arlington, will begin nonstop services from Charlotte to Belize and Providenciales in November 2002, following approval from the U.S. Department of Transportation. (06/03/02, Press release)

US Airways of Arlington, an airline company, will begin weekly nonstop services from Philadelphia to Grenada in December 2002, pending approval from the U.S. Department of Transportation. (06/04/02, PR Newswire)

US Airways, headquartered in Arlington, plans to revive Potomac Air, now MidAtlantic Airways, to handle planned expansion of its regional jet operations. (05/31/02, The Washington Post)

Overnite Transportation Co., a Richmond-based trucking firm, will open a new service center in Lubbock, Texas. (05/31/02, Press release)

Tutornet.com Group Inc., an Internet virtual classroom based in Great Falls, plans to relocate its headquarters to Tyson's Corner where it will expand from an online education company into an enterprise management services company. (05/30/02, Business Wire)

Communications Technologies Inc., a Chantilly-based telecommunications and information systems company, plans to open a Hampton office, creating 24 jobs. (05/29/02, Daily Press)

BACK TO TOP

Real Estate
Greenbrier Mall in Chesapeake was sold to Gregory Greenfield & Associates, an Atlanta-based buyer and overseer of mall properties. (06/14/02, The Virginian-Pilot)

United Dominion Realty Trust Inc., a multifamily real estate investment trust based in Richmond, acquired Stonehaven Apartments, a 518 apartment home community in Federal Way, Washington, for $36.1 million. (06/06/02, Press release)

SI International, a telecommunications and information technology firm headquartered in Reston, leased 57,328 square feet of space at Two Discovery Square in Reston Town Center. (05/24/02, Press release)

BACK TO TOP

Financing
VCampus Corp., a Web-based training program developer approved a one-for-ten reverse stock split. (06/20/02, Potomac Tech Journal)

Ikimbo Inc. of Herndon, a messaging software provider, closed on a D-round of funding of $10 million, mostly from previous investors. (06/10/02, Potomac Tech Journal)

XtremeSpectrum, a wireless communications company headquartered in Vienna, completed a $12 million third round of funding from both new and existing investors to complete a product launch and expand its customer support. (06/10/02, Press release)

ComScore Networks Inc., a data analysis and solutions provider based in Reston, closed approximately $20 million in a Series D round of financing led by Topspin Partners of Long Island, N.Y. to provide capital to support the acquisition and integration of Media Metrix. (06/06/02, Press release)

Ethyl Corp. of Richmond, a provider of additive chemistry solutions, approved a one-for-five reverse stock split to reduce Ethyl's outstanding shares from about 83 million to 16.6 million. (06/05/02, Times Dispatch)

STRATESEC Inc., a single source security systems company headquartered in Chantilly, redeemed and retired 2 million of its outstanding shares of common stock. (06/04/02, Business Wire)

XtremeSpectrum, a developer of ultra-wideband technology products based in Vienna received commitments for at least $12 million in venture capital. (06/04/02, Potomac Tech Journal)

Star Scientific Inc. of Chester, a technology-oriented tobacco company, plans to establish a stock repurchase plan in order to acquire 1,200,000 shares of common stock. (05/31/02, Business Wire)

First Virginia Banks Inc., an independent banking company headquartered in Falls Church, declared a three-for-two stock split of common stock. (05/29/02, PR Newswire)

The Virginia Port Authority of Norfolk, an international transportation and maritime commerce agency, approved the issuance of $135 million in revenue bonds to pay for renovations to Norfolk International Terminals South. (05/29/02, The Virginian-Pilot)

The Mills Corp., a real estate investment trust based in Arlington, closed a three-year refinancing of its existing $75 million unsecured corporate credit facility with an expanded $175 million credit facility maturing in May 2005. (05/28/02, Business Wire)

BACK TO TOP

Siddall, Matus & Coughter, a Richmond-based advertising agency offering research, strategic planning, public relations and Web development services, plans to drop two names and becoming known as Siddall. (06/21/02, Times Dispatch)

XO Communications Inc., a telecommunications company headquartered in Reston, filed for bankruptcy protection. (06/17/02, Potomac Tech Journal)

Network Access Solutions, a broadband networking firm based in Herndon, filed for bankruptcy. (06/07/02, Potomac Tech Journal)

e.spire Communications Inc., a bankrupt telecommunications service provider headquartered in Herndon, was sold to Xspedius Management Corp. of Lake Charles, La., an integrated communications services provider, for $68 million. (06/05/02, Potomac Tech Journal)

Velocita Corp. of Falls Church, a broadband networks provider, filed for Chapter 11 bankruptcy protection and plans to restructure from a telecommunications company to a construction company. (06/05/02, The Washington Post)

XO Communications Inc., a communications services provider based in Reston, had two class-action lawsuits alleging the company misrepresented its financial status and acted to harm shareholders, dismissed in federal court. (06/04/02, Potomac Tech Journal)

StarBand, a two-way satellite Internet provider headquartered in McLean, filed a petition for Chapter 11 reorganization to protect ongoing operations. (06/03/02, Business Wire)

Trex Company Inc. of Winchester, a non-wood decking company, had a case, alleging executives of misleading investors, dismissed in federal court. (05/31/02, The Roanoke Times)

Open Plan Systems Inc., a remanufacturer of modular office work stations based in Richmond, filed a voluntary petition for reorganization under Chapter 11. (05/31/02, PR Newswire)

Saxon Capital Inc. of Glen Allen, a residential mortgage lending and servicing company, announced the name change of its servicing subsidiary, Meritech Mortgage Services Inc. to Saxon Mortgage Services Inc. (05/31/02, Business Wire)

BACK TO TOP

Send your company news and announcements to
ForTheRecord@va-business.com.