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Mergers
and Acquisitions
BAE SYSTEMS North
America, an innovative systems company of San Diego,
plans to acquire Corbett Technologies in Alexandria. The company focuses on safeguarding
information systems and has annual revenues of about $15 million.(Business
Wire)
CACI International Inc.
of Arlington, an information technology and network solutions company, purchased
the outstanding stock of Alexandria-based Acton Burnell, Inc., also an information
technology company. Terms of the transaction were not disclosed. (PR Newswire)
Data
Systems & Solutions of Reston, a predictive maintenance technologies and
integrated asset management company, plans to acquire Glasgow, Scotland-based
CoreData, a maker of hand-held portable data capture devices and provider of technical
data analysis and reporting systems for airlines. (Potomac Tech Journal)
GE
Fanuc Automation North America Inc., a Charlottesville-based supplier of automation
solutions and affiliate of General Electric Co. signed an agreement to acquire
Foxborough, Mass.-based Intellution Inc., a supplier of industrial automation
software. (Business Wire)
INFe
Inc. of Falls Church, a merchant banking, acquisition and business advisory
services company, plans to acquire Florida-based TelTech Global Solutions Inc.,
a provider of telecommunications, network engineering, integration and deployment
services. (PR Newswire)
Pacel
Corp., a software development and systems integration company headquartered
in Manassas, bought the assets of BeneCorp Business Services Inc., a personnel
firm based in Allen, Texas, to gain a national customer base. (Potomac Tech
Journal)
Technology, Management,
and Analy-sis Corp., a Department of Defense contractor headquartered in McLean,
was acquired by L-3 Communications of New York, a provider of intelligence, surveillance
and reconnaissance products, for at least $50 million in cash and possibly another
$7 million based on financial performance. (Potomac Tech Journal)
Vance
International Inc., an Oakton-based provider of protective services, was acquired
by Charlotte, N.C.-based SPX Corp., a global provider of technical products, systems
and solutions. (PR Newswire
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Deals
Cable & Wireless of Vienna, a global telecommunications
group with offices in London and New York, entered into a multi-year agreement
with Dulles-based America Online Inc. to become America Onlines global
providers of optical capacity. (PR Newswire)
Chesapeake
General, a Chesapeake-based hospital, agreed to a two-year contract with Trigon,
a Richmond-based private insurer, ending a public dispute about prices. (The Virginian-Pilot)
Defywire
Inc., a wireless company headquartered in Reston, has entered into a partnership
with webMethods Inc., a software maker in Fairfax, that enables the companies
to link various enterprise computer systems. (Potomac Tech Journal)
Gannett Co. of McLean, a diversified news and information
company, rolled out its first subscription-only Web site, Packers Premium,
for Green Bay Packers fans. Clickshare Services Corp. of Williamstown, Mass.,
will handle the subscription, authentication and transaction billing for the site.
(Business Wire)
GTSI Corp.
of Chantilly, an information technology solutions provider for local, state
and federal governments, announced a series of orders totaling over $3.4 million
to provide full-service solutions to federal agencies overseeing homeland security,
the space program and census operations. (Business Wire)
Interealty
Corp., a real estate technology services provider based in Vienna, announced
six Florida-based Realtor organizations have signed multi-year contracts to have
the company serve as their technology provider. (Business Wire)
Performance Food Group, a food service distributor headquartered
in Richmond, announced its Customized Foodservice Division reached an agreement
with Carlson Restaurants Worldwide Inc., the Dallas, Texas-based parent company
of T.G.I. Fridays to provide foodservice distribution for approximately
265 additional T.G.I. Fridays restaurants, adding about $200 million in
sales. (Business Wire)
Smithfield
Foods Inc. of Smithfield, a hog producer and pork processor, agreed to provide
food products over a three-year period to Foodbuy, a purchasing and data management
company of Atlanta, Ga., and to the procurement division of Compass Group North
America, a food service and hospitality company of Charlotte, N.C. (PR Newswire)
The
National Institute of Aerospace Associates, a NASA-funded Hampton-based nonprofit
research center led by the University of Virginia and Virginia Tech, was formed
to direct the development of technologies in aerospace and atmospheric science
and to hire faculty and graduate students in those areas. (The Virginian-Pilot)
The
Stargazer Foundation of Fairfax, a provider of Web-based services to philanthropic
organizations, schools and nonprofits, partnered with George Mason University
to add distance-learning and entrepreneurial services to the school. (Potomac
Tech Journal)
Suffolk Industrial
Development Authority, agreed to increase the citys potential investment
in a proposed hotel, the Suffolk Hilton Garden Inn and Conference Center, from
$12 million to $13.5 million. Stormont Hospitality Group of Alabama is the private
developer chosen to build the 150-room hotel. (The Virginian-Pilot)
United
Defense Industries Inc., an Arlington-based defense contractor and CPU Technology
Inc., a Pleasanton, Calif.-based electronics firm, joined forces to produce System
on a Chip technology that will be used to update software in combat vehicles.
(Potomac Tech Journal)
US Airways,
an airline based in Arlington, entered an agreement with Phoenix, Ariz.-based
Mesa Air Group Inc. to begin flying 20 additional 50-seat regional jets as part
of the US Airways Express network, beginning in December 2002. (PR Newswire)
XO Communications Inc. a Reston-based broadband communications
services provider, plans to terminate an investment agreement with telecommunication
solutions company, Telefonos de Mexico, S.A. and partnerships affiliated with
acquisition and equity investment firm, Forstmann Little & Co. A mid-November
hearing has been scheduled for bankruptcy court approval of the settlement. (Potomac
Tech Journal)
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New
Plants and Companies
Flexa Furniture
Inc. of Hornsyld, Denmark, a global childrens furniture maker and distributor,
plans to move its U.S. headquarters to Wilroy Industrial Park in Suffolk because
of its location close to many cities along the East Coast. The company will invest
about $1 million in a building and equipment, a development expected to create
20 jobs in the next year. (The Virginian-Pilot)
Greenridge
Environmental Corp., a start-up environmental remediation firm, plans to invest
$9.5 million launching the company in Lunenburg County, creating 165 jobs over
30 months. Virginia competed with Ohio, Pennsylvania, Rhode Island and Ontario,
Canada for this project, the largest corporate investment in Lunenburg in 10 years.
(Press release)
Lohmann Corp.,
an adhesive coatings manufacturer headquartered in Hebron, Ky., plans to open
a new plant, Lohmann Specialty Coatings, in Orange Countys Thomas E. Lee
Industrial Park, creating 30 jobs through a $5.7 million investment. Virginia
competed with Kentucky for this project. (Press release)
Red
Oak E-Commerce Solutions Inc. of Red Oak, a software and consulting firm for
the insurance and workers compensation industry, will locate in Mecklenburg
Countys Lakeside Commerce Park, a $3 million investment creating 40 jobs
over the next three years. (Press release)
Service
Center Metals, a Richmond-based supplier of extruded aluminum to the distribution
market segment, plans to invest $13 million to build a facility and create 100
jobs over the next four years in Prince George County in the SouthPoint Industrial
Park. The new facility is scheduled for completion in July 2003. Virginia competed
with North Carolina and Tennessee for the project. (Press release)
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Executive
Promotions
Frank Erhartic, Jr.,
new chairman and CEO of Sitestar Corp. in Lynchburg. He founded and managed Lynchburg.net,
a subsidiary of Sitestar. (Business Wire)
Dr.
Richard L. Hurwitz, CEO, president, LifeNet in Richmond, an organ procurement
organization that serves central Virginia. He previously held the position of
Medical Director and board chair. (Press release)
Stephen
M. Layne, chairman, CEO, Entigo Corp. in Vienna. (Business Wire)
Jeff Massa, CEO, YellowBrix Inc. in Alexandria. He will
also remain president. (PR Newswire)
Nicola
Sanna, president, CEO, Netuitive Inc. in Reston. (The Washington Post)
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Contracts
Anteon International Corp., Fairfax: $66 million
over 10 years from the U.S. Coast Guard Maintenance and Logistics Command, Atlantic
to provide systems engineering and information technology support for the National
Distress System. (Press release)
CACI
International Inc., Arlington: $48.5 million over seven years from the Naval
Surface Warfare Center Dahlgren Division to provide technical and engineering
services to the Submarine Launched Ballistic Missile program. (PR Newswire)
DynCorp,
Reston: $867 million over seven years from the U.S. General Services Administration
to give the Environmental Protection Agency computer systems that will provide
government workers and citizens with information about environment and public
health conditions. (Potomac Tech Journal)
General
Dynamics Armament and Technical Products business unit, Falls Church:
$19.4 million from the U.S. Armys TACOM/ARDEC Picatinny Arsenal for the
production of 56 reactive armor vehicle sets and 170 partial sets for the Bradley
Fighting Vehicle. (Press release)
GTSI
Corp., Chantilly: $20 million over one year with four option years if all
options are exercised from the U.S. Courts Administrative Office to provide comprehensive
network solutions. (Business Wire)
Halifax
Corp., Alexandria: $20 million extended for three years with an optional three-year
renewal at conclusion of contract term from the Virginia Department of Transportation
for efficient and cost-effective Seat Management Services. (PR Newswire)
ManTech
International Corp.s MSEC subsidiary, Fairfax: $33.4 million over a
one-year base period plus four one-year options from the Naval Air Systems Command
and Naval Air Warfare Center Aircraft Division Surface Communications and Information
Systems Division to provide life-cycle integrated command, communications and
computer intelligence and information systems engineering support. (Business
Wire)
NCS Pearsons Government
Solutions business unit, Arlington: two contracts valued at $160 million over
several years from the U.S. Department of Health and Human Services to operate
and manage the 1-800-MEDICARE Helpline for the Centers for Medicare and Medicaid
Services and to manage and develop a human resources management support system
for the Air Force, Army and Navy. (PR Newswire)
NORSHIPCO,
Norfolk: two multi-year, multi-ship, cost plus contracts valued at $90 million
if all options are exercised from the U.S. Navys Supervisor of Shipbuilding
and Repair for six LSD-41 and 48 class ships. (PR Newswire)
PEC
Solutions Inc., Fairfax: $17.4 million from Mecklenburg County, N.C. to implement
an Integrated Criminal Justice Information System. (Business Wire)
Rosettex
Technology & Ventures Group, a joint business venture of SRI International
and Sarnoff Corp., Arlington: $24 million over five years from the U.S. Army Communications-Electronic
Command at Fort Monmouth, N.J., to develop and prototype advanced technologies
and systems. (Business Wire)
RS
Information Systems, McLean: $10 million to provide a range of information
technology infrastructure support at Hanscom Air Force Base in Massachusetts.
(Business Wire)
SAVVIS Communications,
Herndon: $200 million over five years as announced October 19, 2001, to provide
Moneyline Telerate with privately managed extranet services, applications server
management and data warehousing support. (Business Wire)
Science
Applications International Corp., McLean: $280 million over 26 months from
the National Security Agency to be the provider of the technology demonstration
platform phase of the TRAILBLAZER program. (Business Wire)
SI
International, McLean: $10 million under a one base year and four one-year
option periods from the U.S. Army Garrison, Aberdeen Proving Ground to perform
technical and administrative tasks required for the daily operation of the Military
Personnel Office and Headquarters Support Troops Personnel Administration Center.
(Press release)
SRA International
Inc., Fairfax: $27 million over five years if all options are exercised under
the General Services Administration Federal Supply Schedule to provide database
design and development and other information technology services to the U.S. Department
of Defense, Defense Manpower Data Center. (Press release)
The
ITT Research Institute, McLean: $690 million anti-terrorism contract over
five years from the Defense Threat Reduction agency to develop and test solutions
to counter the threat of weapons of mass destruction. (Potomac Tech Journal)
The
Marasco Newton Group, a subsidiary of SRA International Inc., Arlington: $21
million over five years if all options are exercised from the Environmental Protection
Agency Technical and Analytical Services contract to support the EPAs Chemical
and Emergency Preparedness and Prevention Office. (PR Newswire)
Veridian
Corp., Arlington: $11.2 million from the U.S. Army to work for the Military
District of Washington, D.C., by installing, integrating and testing new data
networks. (Potomac Tech Journal)
W
R Systems, Norfolk: $150 million over five years with options exercised from
the U.S. Navy to provide navigation systems support services to the Space and
Naval Warfare Systems Center. (Press release)
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Cutbacks
and Closings
Department of Motor Vehicles
will close one day a week and 1,837 state government employees will be laid off
as part of a series of cuts to help cut $858 million in spending ordered by Gov.
Mark Warner as a result a budget shortfall. (The Washington Post)
Medical
Radiologists Inc.s doctors plan to terminate their contract with Trigon,
a private insurer based in Richmond, on Feb. 1, contending Trigon does not pay
them enough to recruit and retain qualified professionals. (The Virginian-Pilot)
Motorola
Inc., an integrated communications solutions provider, plans to sell its Goochland
County property, the site of a highly anticipated $3 billion semiconductor factory
that was expected to transform Richmond from a banking-and-tobacco town into a
high-tech center. An industry slump has caused chipmakers to suspend expansions.
(Richmond Times-Dispatch)
Southern
States Cooperative Inc., a seller of farm supplies and services based in Richmond,
eliminated 119 jobs from its corporate staff due to ongoing troubles in the farm
economy. (Richmond Times-Dispatch)
SunTrust
Banks Inc. of Atlanta, plans to move 170 jobs from its telephone banking operations
in Richmond to a call center under construction near Nashville, Tenn. (Richmond
Times-Dispatch)
Technicolor Home
Entertainment Services, a multimedia business based in Camarillo, Calif.,
with operations in Albermarle and Greene counties, announced plans to close those
two plants next year, displacing 750 employees and 500 temporary workers. (The
Daily Progress)
VF Jeanswear Limited
Partnership, a division of apparel company VF Corp., plans to close seven
U.S. plants, including two in the sewing support center in Luray and the Woodstock
plant, eliminating a combined 634 jobs. (Daily News-Record)
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Divestitures
No reports
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Expansions
Chesapeake Corp. of Richmond, an international
supplier of value-added specialty paperboard and plastic packaging, held a dedication
ceremony to commemorate the beginning of production at its new plant near Shanghai,
China. (PR Newswire)
Ecutel
Inc., a maker of mobile virtual private network software headquartered in
Alexandria, plans to open an office in Silicon Valley to serve its growing roster
of clients on the West Coast. (Potomac Tech Journal)
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Real
Estate
Acuity Audiovisual, a Manassas-based
electronics company, moved its plant to Broad Run Industrial Park in Prince William
County, an investment of $1.2 million for the 16,000-square-foot parcel. (Potomac
Tech Journal)
Divaris Real Estate
Inc., a Virginia Beach-based international real estate firm, sold 27,123 square
feet of land at the intersection of Birdneck and Laskin Roads in Virginia Beach
to Landmark Industries of Illinois, a provider of services to businesses and industries
with packaging, fulfillment, assembly, inspection and bindery needs. (Press
release)
Goochland County
officials have agreed to sell the countys old 14-acre fairgrounds property
to Henderson, N.C.-based, Chase Development Corp., for $1 million. (Richmond
Times-Dispatch)
Liberty Property
Trust, a real estate company based in Richmond, signed seven new leases in
several Richmond area locations totaling 218,750 square feet, four lease renewals
with 212,739 square feet and two expansions of space, one of which is at Danaher
Power Solutions, where warehouse space will increase 27,000 square feet. (Press
release)
R.G. Moore of Hampton
Roads, a residential developer, agreed to sell his 658-acre Edinburgh development
in Chesapeake to builder W. Preston Fussell and his firm, Precon Construction
Co., a Chesapeake-based builder. (The Virginian-Pilot)
Sunrise
Assisted Living, a provider of assisted living for seniors headquartered in
McLean, entered a sale/long-term manage back agreement for 13 properties for $196
million with an international investor group. (PR Newswire)
The
General Services Administration of Alexandria entered into a 10-year, 60,000-square-foot
lease with Preferred Real Estate Investments Inc., a Conshohocken, Pa.-based commercial
real estate developer, to house the Federal Protective Services new Central
Training Facility and West regional office. (Press release)
The
Warehouse Co., a storage services company based in Harrisonburg, acquired
a 147-acre tract of land near Mount Crawford in Rockingham County from J.C. Penney
Co. for $2.2 million. (Daily News-Record)
United
Dominion Realty Trust, a multi-family real estate investment trust based in
Richmond, sold Windward Point, a 96-apartment home community in Chula Vista, Calif.,
for $13.9 million. (Press release)
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Financing
Avir, a Charlottesville-based developer of
patented technology for the remote sensing of chemical and biological agents,
announced a significant investment in the company by Aerwav Holdings, a privately
held investment company based in New York. (Press release)
Infe
Inc. of Falls Church, a holding company, purchased a minority stake in NetLine
Services Inc., a New York-based telecommunications firm. (Potomac Tech Journal)
NetDecide
Corp. of Falls Church, which makes Web-based products for banks, won $6.5
million in funding from Boston-based Dominion Ventures and Glenwood, Md.-based
Walker Ventures, to expand its services. (Potomac Tech Journal)
Netuitive,
a Reston-based software firm, raised $11 million in venture capital from Bessemer
Venture Partners, Columbia Capital, Flagship Ventures and Noro-Moseley, to be
used mostly for commercial purposes. (Potomac Tech Journal)
Stratesec
Inc. of Chantilly, a security systems company, withdrew its appeal of the
proposed delisting of its stock from the American Stock Exchange. (Business
Wire)
US Airways of Arlington
accepted an offer by the Retirement Systems of Alabama to invest $240 million
in the carrier in exchange for a 37.5 percent stake after the airline emerges
from bankruptcy. (The Washington Post)
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Legal
Arrowhead Space & Telecommunica-tions Inc.,
a Native American, woman-owned small business based in McLean, announced a change
in the firm name to reflect the global focus of its client base and expanding
product line. The new name will be Arrowhead Global Solutions Inc. (PR
Newswire)US Airways of Arlington and United
Airlines plan to move forward to quickly implement their marketing alliance following
the conclusion of the review of their arrangement by the U.S. Department of Transportation.
(PR Newswire)
VCampus Corp., an end-to-end
e-Learning solutions provider based in Reston, completed a $1 million private
equity placement through an offering of preferred stocks and warrants effective
Sept. 30, 2002. (Business Wire)
Veridian
Corp., an aerospace firm headquartered in Arlington, announced that the construction
of a 75,000-square-foot flight research center and simulation hangar costing $154
million will go ahead following rejection by the General Accounting Office of
a bid protest from SAIC, an unsuccessful bidder on the project. (Potomac Tech
Journal)
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