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Recent Articles from Sydney Lake
‘From K to grey’ – Bank of America donates $100K to VCU for tech talent pipeline
Continuing a yearslong partnership with Virginia Commonwealth University, Bank of America has awarded a $100,000 grant to the school’s College of Engineering Foundation to focus on establishing data science talent pipelines. The idea behind the grant is to develop interest in computer science and other STEM programs for “K to grey,” says VCU College of […]
MicroStrategy to increase bitcoin holdings by $550M
Tysons-based business software company MicroStrategy Inc. announced Wednesday that it will increase its bitcoin holdings by as much as $550 million following a convertible debt offering. In August, the company had announced that it had converted $250 million from its cash holdings into more than 21,000 bitcoins, making it one of the first public companies […]
Va. hotel revenue is still down by more than 50% from 2019
Despite the fast-approaching holiday season, Virginia hotel revenues continue to decline when compared with last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. While COVID-19 cases spiked during the week of Nov. 29 through Dec. 5, hotel revenues in Virginia dropped by […]
Amherst County disburses $450K to 48 local small businesses
Amherst County announced Tuesday it has disbursed $450,000 in CARES Act funding to 48 area businesses that were affected by the pandemic. The local Economic Development Authority and the Amherst County Finance Department partnered to manage the grant program. “As a small business trying to navigate through the ups and downs of this pandemic, we […]
Reston-based company names Tish Long to board of directors
Reston-based Applied Information Services (AIS) announced Tuesday it has named former National Geospatial-Intelligence Agency (NGA) Director Letitia “Tish” Long to the company’s board of directors. “Tish’s impact in the defense and intelligence community is unmatched,” AIS President and CEO Larry Katzman said in a statement. “Her industry and board experience will foster ou[...]
3Pillar acquires Ariz.-based software company
Fairfax-based product lifecycle management company 3Pillar Global Inc. announced Tuesday it has acquired Tempe, Arizona-based software development company Tiempo Development. Financial terms of the transaction were not disclosed. Tiempo Development, which employs more than 400 people, also has three digital delivery centers in Mexico, which will expand 3Pillar’s footprint and offerings o[...]
Unmanned aircraft company creating 249 jobs in Warren County
Silent Falcon UAS, an unmanned aircraft systems service provider and equipment manufacturer, will invest $6 million to locate its new East Coast headquarters for research development and manufacturing at the Front Royal-Warren County Airport, creating 249 jobs, Gov. Ralph Northam announced Tuesday. Founded in Albuquerque, New Mexico, Silent Falcon UAS manufactures patent-pending unmanned aircraft [...]
Amazon creating 200 more jobs in Hampton Roads
Amazon.com Inc. announced Tuesday it will open two additional delivery stations in Hampton Roads in 2021, creating more than 200 full- and part-time jobs. The ecommerce giant announced in March it would build two operations facilities in Hampton Roads (in Suffolk and Chesapeake), creating an expected 1,500 jobs. The additional delivery stations announced Tuesday will […]
Capital One CFO to leave in March 2021
McLean-based Capital One Financial Corp. Chief Financial Officer R. Scott Blackley will step down in March 2021 to hold the same position with New York City-based health insurance startup Oscar Health Insurance Corp., the company announced last week. Capital One is the largest bank in Virginia, according to 2019 deposits. Senior vice president and business […]
Northrop Grumman to sell IT, mission support biz for $3.4B
Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. announced late Monday that it will sell its federal IT and mission support services business for $3.4 billion in cash to Herndon-based national security contractor Peraton, a Veritas Capital affiliate. This year, the Northrop Grumman business unit is expected to generate approximately $2.3 billion […]
