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Recent Articles from Katherine Schulte
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 […]
Shaun McConnon donates $15M to Roanoke College
Roanoke College has received a $15 million donation, the single largest cash gift in the school’s 179-year history, college president Michael Maxey announced Thursday to the board of trustees. College alumnus Shaun McConnon, former CEO of Massachusetts-based cybersecurity company BitSight Technologies, donated the money for the new science center. The center will house the psychology, […]
Northrop Grumman wins $109M Air Force contract modification
Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. received a $108.8 million U.S. Air Force contract modification, the U.S. Department of Defense announced Friday. Under the contract, Northrop Grumman provides sustainment for the RQ-4 Global Hawk, a high-altitude, long-endurance, unmanned aircraft. The modification provides for a second year of contractor logist[...]
