Please ensure Javascript is enabled for purposes of website accessibility

acquisition

“It’s very difficult to find a $1 billion bank” in the Richmond region, says Rex L. Smith III, president and CEO of Henrico County-based Community Bankers Trust Corp., which is being acquired by West Virginia-based United Bankshares Inc. “They’ve either been gobbled up or they don’t exist.” Photo by Shandell Taylor
Jul 30, 2021

Come together

Virginia is seeing a wave of bank mergers and acquisitions, a trend that could intensify, banking experts say. “We could potentially see a record-setting year for bank mergers and acquisitions,” says John Asbury, president and CEO of Richmond-based Atlantic Union Bankshares Corp. and chairman of the Virginia Bankers Association. Banks are reaching for scale, meaning […]

Jul 27, 2021

LMI acquires Falls Church solutions consulting company

Tysons-based government and defense contractor LMI acquired Falls Church-based Suntiva, it announced Tuesday. Suntiva is a technology-enabled solutions company focused in the public health and defense markets. The acquisition provides LMI with new customer access, particularly the U.S. Food and Drug Administration, the National Institutes of Health, U.S. Department of Agriculture, Defense Informat[...]

Jul 27, 2021

The Hilb Group acquires Medicare-focused firm, six Va. companies

Henrico-County based insurance company The Hilb Group LLC finalized its acquisition of Health Quote of Rhode Island Inc. on July 1, it announced Tuesday. Financial terms of the transaction were not disclosed. Health Quote specializes in Medicare offerings, and its clientele will join THG’s Medicare practice. THG CEO Ricky Spiro said in a statement, “Our […]

Jul 23, 2021

Arlington federal contractor acquires Alexandria tech firm

Arlington-based IT services federal contractor Planned Systems International Inc. acquired Alexandria-based technology company ProSphere Tek Inc., it announced Thursday. Financial details of the transaction were not disclosed. Founded in 2006, federal contractor ProSphere designs and maintains mission-critical systems, supports data center operations and migrates business services to public clouds[...]

Jul 22, 2021

Shield AI acquires Alexandria-based defense contractor

Alexandria-based defense contractor Heron Systems Inc. was acquired by San Diego-based technology company Shield AI, according to announcement Thursday from Shield AI. Financial details of the transaction were not disclosed. The companies will work on the deployment of artificial intelligent pilots for military aircraft. Shield AI is applying self-driving car technologies to military aircraft, acc[...]

Jul 20, 2021

Avantus Federal acquires Reston-based software company

Avantus Federal, a McLean-based IT defense contractor and NewSpring Holdings company, has acquired Reston-based software company Occam’s Razor Technologies LLC, it announced Thursday. Financial details of the transaction were not disclosed. Avantus CEO Andy Maner said in a statement, “For more than 10 years, Occam’s Razor Technologies has built a company committed to developing innov[...]

Jul 19, 2021

ASGN buys Reston’s IndraSoft

Henrico County-based Fortune 1000 professional services company ASGN Inc. has acquired Reston-based software company IndraSoft Inc., it announced Friday. IndraSoft’s 220 consultants will join the Missions Solutions business unit at ECS, ASGN’s Fairfax-based federal contracting subsidiary. Acquired by ASGN in 2018, ECS delivers tech solutions in cloud, cybersecurity, artificial intellig[...]

Jul 19, 2021

TowneBank acquires Tennessee cabin rental company

Suffolk-based TowneBank acquired Tennessee-based vacation property rental company Venture Resorts Inc. on July 1, the bank announced Monday. Financial details of the transaction were not disclosed. “This is an exciting development for Towne Vacations,” Brian Skinner, president and CEO of Towne Financial Services Group, the division that oversees the bank’s vacation property management ac[...]

Jul 16, 2021

Intrepid Solutions acquires defense contractor Darkblade Systems

Herndon-based intelligence contractor Intrepid Solutions and Services LLC has acquired Darkblade Systems Corp., a Winchester-based federal defense contractor, it announced Wednesday. Financial details of the transaction were not disclosed. Intrepid CEO Ryan Hebert said in a statement: “Welcoming Darkblade Systems into the Intrepid family is a transformative moment for us, and one that will great[...]

Jul 14, 2021

Octo acquires Volant Associates, creating new division

Reston-based government contractor Octo Consulting Group has acquired Volant Associates, a Chantilly-based defense software development company, it announced Tuesday. Financial details of the transaction were not disclosed. Volant has contracts supporting the Defense Intelligence Agency and other U.S. intelligence community agencies and created the Defense Intelligence Information Enterprise Commo[...]

Altria's headquarters in Henrico County
Jul 11, 2021

Altria to sell winemaking division for $1.2B

Henrico County based Altria Group Inc. announced Friday that it has entered into a definitive agreement to sell its Ste. Michelle Wine Estates winemaking division for $1.2 billion to New York-based private equity firm Sycamore Partners Management LP in an all-cash deal. The deal is expected to close by the end of this year. The […]

Newport News Shipbuilding’s shipyard is the state’s biggest industrial employer, with more than 20,000 workers. Photo by Ashley Cowan/Huntington Ingalls Industries
Jul 6, 2021

Huntington Ingalls Industries to acquire Alion in $1.65B deal

Newport News-based Fortune 500 military shipbuilder Huntington Ingalls Industries will acquire McLean-based defense contractor Alion Science and Technology Corp. from Veritas Capital in a $1.65 billion, all-cash deal, HII announced in a news release Tuesday. The deal is expected to close by the end of this year, with Alion becoming part of HII’s Technical Solutions […]

YOUR NEWS.
YOUR INBOX.
DAILY.

By subscribing you agree to our Privacy Policy.