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Recent Articles from Sydney Lake
Charlottesville construction software company acquired by Neb. firm
Omaha, Nebraska-based construction management software company Buildertrend announced Wednesday it has acquired Charlottesville-based CoConstruct, a similar software company. Financial terms of the transaction were not disclosed, but the two businesses in 2020 served a combined 23,000 clients and more than 1.1 million users, representing more than $200 billion in annual construction projects. The [...]
Va. saw nearly 20% drop in initial jobless claims last week
Initial jobless claims filed last week fell 19.8% from the previous week, according to figures released Thursday by the Virginia Employment Commission but continued claims slightly increased. During the week ending Feb. 20, 11,944 Virginians filed initial unemployment claims, compared to 14,901 from the week prior. Last week, 64,575 Virginians remained unemployed; that represents 42,082 [&hellip[...]
HII lands $2.99B Navy contract
The U.S. Navy awarded Newport News-based Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division a $2.99 billion contract to refuel and overhaul USS John C. Stennis supercarrier, the Department of Defense announced Friday. Under the contract, Newport News Shipbuilding will perform work for the second half of the estimated five-decade service life of the aircraft […]
GMU establishes President’s Innovation Advisory Council
George Mason University President Gregory Washington on Monday announced he has formed an advisory roundtable of nearly 30 regional business executives and community leaders to focus on the university’s innovation initiative. The President’s Innovation Advisory Council will focus on issues such as GMU’s efforts to increase the pipeline of tech workers. George Mason’s innovation[...]
S.L. Nusbaum names land, investments VP
Norfolk-based S.L. Nusbaum Realty Co. announced Monday it has hired Douglas Tice III as vice president of land and investments at the firm’s Richmond office. With 30 years of experience as a real estate broker and developer, Tice most recently worked with General Land Commercial Real Estate Co. He has also previously been a principal […]
Commercial real estate lease roundup
Central Virginia National Delivery Systems Inc. renewed its 78,232-square-foot lease at 4840 Eubank Road in Richmond. Rob Dirom and John Carpin of Colliers International represented the landlord. Belvac Production Machinery Inc. renewed its lease of 71,576 square feet of industrial space at 25 Millrace Drive in Lynchburg. Norman Moon of Thalhimer, along with Cushman & […]
What stays and what goes
With renewed hopes stemming from vaccine distribution, economists and business leaders are looking ahead toward recovery, including pandemic-induced changes that will stay and ways we’ll return to “normalcy.” While it’s evident that the technology sector’s upward trend will continue, Federal Reserve Bank of Richmond President and CEO Tom Barkin isn’t sure that telework will bec[...]
Chantilly systems integrator acquires Mechanicsville biz’s security solutions division
Chantilly-based tech systems integrator Corbett Technology Solutions Inc. (CTSI) announced last week it has acquired the integrated security solutions division of Mechanicsville-based electrical contractor Electrical Controls & Maintenance (EC&M). Financial terms of the transaction were not disclosed. EC&M was founded in 1996 and in 2001 launched its security systems integrator divis[...]
Arlington engineering firm merges with Ala.-based tech company
Arlington-based Millennium Engineering and Integration (MEI) announced last week it has merged with Huntsville, Alabama-based QuantiTech. Financial terms of the transaction were not disclosed, but the combined company will have more than 2,000 employees across more than 20 U.S. locations. MEI provides systems engineering and integration services for space, defense, cyber, intelligence and aviation[...]
Martinsville credit union names chief information officer
Martinsville-based ValleyStar Credit Union announced Thursday it has hired Cheri Spence as its first chief information officer. Spence joined the ValleyStar board of directors in 2019 as the result of a merger with Entrust Financial Credit Union, where she served as chairwoman. She most recently served as vice president and CIO of Richmond-based nonprofit ChildFund. […]
