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Recent Articles from Sydney Lake
Washington Football Team is first NFL team to partner with sports betting company
The Ashburn-based Washington Football Team announced Monday a partnership with gaming company FanDuel Group to provide sports betting across the state. It’s the first NFL team to partner with an online sports bookmaker. Through the partnership, which was approved by the Virginia Lottery last week, FanDuel will serve as the operational partner for a betting […]
NYC investment firm acquires controlling interest in Reston tech startup
New York City-based Tracker Capital Management LLC announced Monday that one of its affiliates has acquired a controlling interest in Reston-based tech startup Presage Security. Financial terms of the transaction were not disclosed. Presage works to apply machine learning and advanced mathematical processing to video imagery analysis for health care, security and authenticity verification. “Trac[...]
Va. Community Capital president, CEO to retire this year
Richmond-based nonprofit Virginia Community Capital (VCC) announced last week that President and CEO Jane Henderson will retire this year after four decades in the banking industry. Henderson has led VCC, a community development financial institution, since its 2006 inception. She has spent 29 years in community development finance. VCC has not yet released a specific […]
Va. Beach-based company to acquire pet supply chain for $700M
Virginia Beach-based franchise business operator Franchise Group Inc. announced Monday it will acquire Livonia, Michigan-based Pet Supplies Plus for approximately $700 million. The all-cash transaction is expected to close in March. The Pet Supplies Plus retail chain was founded in 1988 and sells pet supplies and services at its more than 500 locations, almost 60% […]
UPS to sell Richmond-based freight biz for $800M
Atlanta-based United Parcel Service Inc. will sell its Richmond-based UPS Freight unit to Canadian logistics company TFI International Inc. for $800 million, the package delivery company announced Monday. UPS Freight provides less-than-truckload (LTL) shipments (used for small freight transportation) across all 50 states, Mexico, Puerto Rico, the U.S. Virgin Islands and Guam. The UPS business [&he[...]
CACI wins $48M FEMA contract
The Federal Emergency Management Agency awarded Arlington-based federal technology contractor CACI International Inc. a potential $48 million contract to work on the agency’s National Public Warning System (NPWS), according to a System for Award Management (SAM) notice. The NPWS disseminates information and warnings during national emergencies. CACI will construct, decommission, update and pro[...]
Northrop Grumman lands $155M Missile Defense Agency contract
The Missile Defense Agency awarded a subsidiary of Falls Church-based Northrop Grumman Corp. a $155 million contract to work on space-based sensor technology for defending against hypersonic weapons, the Department of Defense announced Friday. Under the contract, Northrop Grumman Systems Corp. will perform on-orbit demonstration, launch and initial orbit testing work, according to the DOD. [&hel[...]
Falls Church consultancy names executive chairman, vice chairman
Falls Church-based consultancy PACEM Solutions International and PACEM Defense LLC announced Friday the appointment of Cory Mills as executive chairman and Rana Al Saadi as executive vice chairman of its board of directors, effective immediately. Mills and Saadi are both co-founders of PACEM Solutions International and PACEM Defense LLC. Mills is a combat veteran and […]
Va. saw 10.8% increase in home sales in 2020
Virginia saw a 10.8% increase in the number of homes sold during 2020 compared with the year before, according to a report released by Virginia Realtors. It marks the fastest growth in annual sales seen in Virginia in more than five years. During 2020, 139,908 homes sold in Virginia, compared with 126,305 homes sold in […]
Northrop Grumman lands potential $3.6B Air Force contract
The U.S. Air Force awarded Falls Church-based Northrop Grumman Corp. a potential five-year $3.6 billion contract for work on the branch’s airborne communications relay system, the Department of Defense announced Thursday. Under the contract, Northrop Grumman will perform research, development, testing, evaluation, integration, operations and sustainment services for the branch’s Battlefield Ai[...]
