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Recent Articles from Sydney Lake
McLean-based NuWave merges with Md. firm to form AI company
McLean-based federal technology contractor NuWave Solutions LLC and Columbia, Maryland-based PCI Strategic Management announced Tuesday the companies have merged to form BigBear.ai. NuWave CEO Reggie Brothers will become CEO of BigBear.ai and Sean Battle, former co-founder and CEO of PCI, will serve as vice chairman and chief strategy officer. Financial terms of the merger were […]
Information systems developer to add 296 jobs in Fairfax County
Information systems developer Kreative Technologies LLC will invest $1.5 million to quadruple its current Fairfax County workforce, adding 296 jobs, Gov. Ralph Northam announced Tuesday. The company currently employs 67 people at its 4114 Legato Road location in Fairfax County. Kreative Technologies provides information systems design, development, integration and sustainment for the federal healt[...]
Amazon founder Jeff Bezos to step down as CEO in Q3
Amazon.com Inc. announced Tuesday that Jeff Bezos, who founded the e-commerce company in 1994, will step down as CEO and transition to the role of executive chair in the third quarter of 2021. Amazon Web Services CEO Andy Jassy will succeed Bezos. “Amazon is what it is because of invention,” Bezos said in a statement. […]
The Hilb Group makes third acquisition announcement of 2021
Henrico County-based insurance company The Hilb Group LLC made its third acquisition announcement of the year, with the purchase of Lake Success, New York-based Rampart Brokerage Corp. & Affiliates. Financial details of the acquisition were not disclosed. Founded 55 years ago, Rampart Brokerage Corp. and Affiliates (RBC) employs nearly 200 people and serves as a […]
Amazon reveals Arlington HQ2’s ‘Helix’ centerpiece
Despite lingering questions around when or how remote workers may return to office life following the pandemic, Amazon.com Inc. on Tuesday released fresh plans for the second phase of its $2.5 billion East Coast HQ2 headquarters in Arlington’s National Landing area, where it is gearing up to employ 25,000 people during the next decade. “When […]
Carlyle Group buys two Va. tech companies; forms Two Six Technologies
An affiliate of Washington, D.C.-based global investment firm The Carlyle Group has acquired Virginia tech companies IST Research and Two Six Labs to form Two Six Technologies Inc., which will provide tech services to the intelligence community, the Department of Defense and other national security customers. Financial terms of the acquisitions were not disclosed, but […]
McLean tech contractor acquires Fairfax firm
McLean-based tech contractor IntelliBridge Inc. announced Monday it has acquired Fairfax-based tech company Alethix LLC. Financial terms of the transaction were not disclosed, but the acquisition will add DevSecOps and cloud services to IntelliBridge (which is backed by Enlightenment Capital), and also expand its clientele to include homeland security, federal-civilian and defense agencies. Founde[...]
Dovel Technologies executive chairman to retire
McLean-based federal contractor Dovel Technologies announced Monday that Paul Leslie will retire as executive chairman and Sudhakar Kesavan will join the company as chairman of the board in March. Leslie served as Dovel’s CEO for more than eight years, during which the company focused on the federal health and civilian markets. During his tenure, Leslie […]
Roanoke County launches economic development strategic plan
Roanoke County Economic Development announced Monday it has launched Elevate Roanoke County 2026, a five-year strategic plan focusing on the county’s economic development program . The Virginia Tech Office of Economic Development will work with Roanoke County Economic Development, which is also funding the project in partnership with Appalachian Power. “Developing a strategic plan is [&hel[...]
Gannett to refinance $1.05B in debt
McLean-based Gannett Co. Inc., the largest newspaper publisher in the U.S., announced Monday it will refinance $1.05 billion in debt to lower its interest rates and extend maturity on outstanding debt. Gannett, which has struggled financially during the pandemic, in November 2020 announced it had refinanced approximately $500 million in debt to more quickly repay […]
