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Recent Articles from Katherine Schulte
Norfolk’s World Trade Center trades hands
The World Trade Center in Norfolk has sold for an undisclosed sum, Colliers announced Monday. On July 1, the property’s assessed value was nearly $51.27 million. Norfolk-based real estate investment and management firm Harbor Group International LLC, which acquired the property in 2008 for $54 million, has sold it to a private investor that Colliers […]
GTT Communications files for Chapter 11 bankruptcy
McLean-based telecommunications company GTT Communications Inc. announced this week that the company and some subsidiaries had filed prepackaged Chapter 11 cases. The close of GTT’s estimated $2.15 billion sale of its infrastructure division to Miami-based I Squared Capital on Sept. 16 allowed GTT to move forward on its bankruptcy cases, which it and some subsidiaries […]
Henrico’s Essex Bank to lay off 51 employees in merger
The Henrico County-based parent company of Essex Bank will lay off 51 employees as a result of its merger with Charleston, West Virginia-based United Bankshares Inc., the parent company of United Bank. The company filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Friday, Oct. 29, notifying them […]
Blue Ridge Bank, FVCbank merger delayed
The merger of Charlottesville-based Blue Ridge Bankshares Inc., the parent company of Blue Ridge Bank, and Fairfax-based FVC Bankcorp Inc., the parent company of FVCbank, will be delayed, the companies announced this week. The two regional companies announced the merger, which would create a $5 billion combined company, on July 14. The expected closing at […]
Major companies pledge $1.5M for broadband expansion
Dominion Energy Inc., Meta Platforms Inc. — formerly Facebook — Glen Allen-based Primis Bank and Petersburg-based The Cameron Foundation have collectively pledged more than $1.5 million to expand broadband access across Virginia, Gov. Ralph Northam announced Thursday. The funding will contribute to efforts to extend service to 233,000 Virginians who lack access to broadband. “These […[...]
Va. new jobless claims decline to almost 1,000
Virginia’s new unemployment claims decreased by about 58% last week, the Virginia Employment Commission reported Thursday. For the filing week ending Oct. 30, Virginians filed 1,088 new claims, a decrease of 1,482 claims from the week before. Continued claims totaled 31,564, a decrease of 13,276 from the previous week. Compared to the same week last […]
Fairfax-based ICF acquires health care data management company
Fairfax-based management consulting firm ICF International Inc. has acquired Rockville, Maryland-based data management and health care information technology provider ESAC Inc., or Enterprise Science and Computing, the company announced Tuesday. Financial details of the transaction were not disclosed. Founded in 2006, ESAC’s 40-person team works on data coordination centers, big data integra[...]
CMA CGM Group to acquire 90% stake in Los Angeles terminal
French shipping company CMA CGM Group, whose U.S. headquarters are in Norfolk, announced Wednesday that it has signed an agreement to acquire a 90% stake in the Fenix Marine Services (FMS) terminal in Los Angeles, based on an enterprise value of $2.3 billion. CMA CGM is funding the $1.8 billion acquisition from its own funds. […]
Leidos wins $531M Air Force task order
Reston-based Fortune 500 government contractor Leidos Holdings Inc. won a potentially $531 million task order from the Air Combat Command (ACC) Acquisition Management and Integration Center (AMIC), the company announced Monday. Under the single-award, firm-fixed price task order, Leidos will support ACC intelligence, surveillance and reconnaissance (ISR) operations, providing subject matter expert[...]
Blackboard completes merger with Fla. company
Reston-based education technology company Blackboard Inc. and Boca Raton, Florida-based Anthology Inc. higher education software company announced Oct. 25 that they had completed their merger. Financial details of the transaction were not disclosed. Anthology will be the parent company of the combined organization, with the Blackboard name remaining as a brand. Anthology has more than […]
