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Recent Articles from Sydney Lake
SOSi invests in AppTek for AI, machine learning capabilities
Reston-based defense and government contractor SOS International LLC (SOSi) announced Thursday it has made a non-controlling investment in McLean-based software company Applications Technology (AppTek) to develop artificial intelligence and machine learning for its speech recognition and translation service offerings. A transaction amount was not disclosed. SOSi will be the exclusive reseller of[...]
Calif.-based VeriToll names CEO for upcoming Reston HQ
Walnut, California-based tolling-as-a-service company VeriToll LLC announced Thursday that its new CEO is Devaki Baker, who will lead the company’s sales, product investment and partnerships from Reston. VeriToll has offices in Virginia, Indiana and California. The company’s plans to lease a new headquarters location in Reston were put on hold due to the COVID-19 pandemic, […]
Va. hotel revenues still down by more than 60%
Even as Phase Three of Virginia’s reopening plan looms on the horizon, Virginia hotels are continuing to see revenues dropping. in the second week in June by 64% compared to the same time a year ago, according to findings released Thursday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. Rooms sold were […]
Tech names VP of campus planning, infrastructure, facilities
Virginia Tech announced Thursday that Christopher H. Kiwus has been named vice president for campus planning, infrastructure and facilities, a position in which he oversees the university’s six-year plan for approximately 30 projects totaling nearly $3 billion. Kiwus had been Tech’s associate vice president and chief facilities officer since 2014. In his new role, which […]
Tech names president, CEO for Corporate Research Center
Virginia Tech announced Thursday that Brett Malone will become the next president and CEO of the university’s Corporate Research Center (CRC), effective July 1. Malone succeeds longtime CRC President and CEO Joe Meredith, who retired in February after 27 years in the position. A “triple Hokie” (earning his bachelor’s, master’s and doctoral degrees from Virginia [&hell[...]
386K+ remain unemployed in Va. during pandemic
UPDATED 4 P.M. FRIDAY | More than 386,000 Virginians are still unemployed following the economic fallout from the COVID-19 pandemic, though the number of initial jobless claims across the commonwealth continues to decrease. The Virginia Employment Commission (VEC) announced Thursday that 849,486 initial unemployment claims have been filed since March 15. Virginia’s seasonally adjusted unempl[...]
Charlottesville Chamber to distribute reopening toolkits
The Charlottesville Regional Chamber of Commerce on Wednesday announced that its COVID-19 economic recovery initiative Project Rebound will distribute 500 reopening toolkits to local businesses starting Monday, June 22. The Project Rebound toolkits include branded items that communicate standards such as complying with occupancy limits, wearing face masks and practicing social distancing. Each kit[...]
Virginia gets new digits
On Wednesday, the Virginia State Corporation Commission (SCC) announced that the North American Numbering Plan Administrator has assigned a new area code, 826, to relieve future exhaustion of the 540 area code, which is expected to occur in 2022. Residents and businesses in the affected region will not lose their existing 540 phone numbers under […]
$2.48M in state research grants awarded to tech firms, universities
Gov. Ralph Northam announced Wednesday that $2.48 million in grant funding from the Commonwealth Research Commercialization Fund (CRCF) will be dispersed among small technology businesses and universities to be used to commercialize research in sectors including clean energy, cybersecurity, data analytics, life sciences and unmanned systems. “These entrepreneurs and innovators are on the front l[...]
Chicago company acquires Reston-based PagnatoKarp
Reston-based wealth management firm PagnatoKarp has been acquired by Chicago-based Cresset Asset Management, the companies announced Wednesday. A transaction amount was not disclosed, but with the acquisition of PagnatoKarp, Cresset now has $9.5 billion in assets under management. PagnatoKarp had $2.3 billion in assets under management prior to the acquisition. “PagnatoKarp was born during [...]
