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Morgan Stanley expected to complete $13B E-Trade acquisition Friday
Morgan Stanley announced Thursday it has won regulatory approval and expects to complete its $13 billion acquisition of Arlington-based online brokerage E-Trade Financial Corp. on Friday. In late July, E-Trade announced that more than 99% of its stockholders had approved the acquisition, which will be one of the largest acquisitions of a local company in […]
Genworth’s $2.7B acquisition by Chinese company faces new hurdle
Henrico County-based Genworth Financial Inc. announced Thursday that China-based Oceanwide Holdings Group Co. Ltd. has reached an agreement with Hony Capital on the commercial terms and conditions of its $1.8 billion offshore financing plan to complete its acquisition of Genworth. However, Oceanwide has not reached a final agreement on all terms and conditions due to […]
Virginia National, Fauquier banks to merge
The parent holding companies of Virginia National Bank and The Fauquier Bank will merge under the Virginia National brand into a combined bank with $1.6 billion in total assets. Charlottesville-based Virginia National Bankshares Corp. and Warrenton-based Fauquier Bankshares Inc. have signed a definitive merger agreement, the banks announced Thursday. The combined company will have approximately $[...]
The Hilb Group acquires Ct.-based insurance company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it has acquired Shelton, Connecticut-based Ganim Group Inc. (Ganim Benefits) from investment advisory company Ganim Financial Inc. Transaction details were not disclosed. This marks THG’s 11th acquisition within the past year. Ganim Benefits provides employee benefits insurance, including group medical and dent[...]
Tysons contactless delivery tech company buys Ind.-based firm
Tysons-based startup HomeValet, which develops technology for contactless deliveries, announced Wednesday it has acquired Evansville, Indiana-based Evolve Engineering LLC, which focuses on appliance engineering. Terms of the transaction were not disclosed. “Envolve Engineering’s team has had a hand in developing home appliance products for some of the largest refrigeration brands in th[...]
Reston contractor buys Md.-based software, systems engineering company
Reston-based government contractor Acclaim Technical Services Inc. announced Sept. 1 it has acquired Rockville, Maryland-based software and systems engineering company Global Consulting Services Inc. Terms of the transaction were not disclosed. Founded in 2015, Global Consulting Services’ 30 employees support multiple contracts working on development, engineering and testing of mission cri[...]
Arlington cybersecurity firm buys Tysons software company
Arlington-based cybersecurity company ThreatConnect Inc. announced Thursday it has acquired Tysons-based software company Nehemiah Security, which quantifies cybersecurity risks for customers. ThreatConnect did not disclose a transaction price, but through its purchaser entity, NS Holdings LLC, it “acquired substantially all of the assets and assumed selected liabilities of Nehemiah,” accord[...]
Universal Corp. to acquire dehydrated foods company for $170M
Richmond-based international tobacco leaf supply company Universal Corp. announced Tuesday it has entered into a definitive agreement to acquire Momence, Illinois-based dehydrated vegetable, fruit and herb processing company Silva International for $170 million in cash. Following the transaction, Silva will operate as part of Universal’s plant-based ingredients platform, which includes Fruit[...]
Puritan Cleaners acquires HandCraft Cleaners
Richmond-based dry-cleaning business Puritan Cleaners has acquired HandCraft Cleaners, another Richmond-based, family-owned dry-cleaning company, the businesses announced Thursday. Terms of the transaction were not disclosed. “We are extremely pleased to welcome HandCraft Cleaners’ customers to the Puritan Cleaners family and are honored to have the opportunity to continue to provide them [...]
Md.-based HVAC company to acquire two Richmond firms
Columbia, Maryland-based HVAC equipment manufacturer’s representative Havtech announced Thursday it will acquire Richmond-based companies Air Conditioning Equipment Sales Inc. (ACES) and Mechanical Systems Testing & Balancing Inc. (MSTB). Terms of the transactions were not disclosed. Founded in 1971, ACES is an HVAC manufacturer’s representative for the Central Virginia, Tidewater [...]
ASGN Inc. to buy Boston consultancy for up to $72M cash
ASGN Inc., parent company of Glen Allen-based recruiting firm Apex Systems LLC, announced Tuesday it will acquire Boston-based consultancy LeapFrog Systems LLC for up to $72 million in cash. The goal of the transaction is to grow the companies’ commercial consulting business, adding services for financial services, insurance and health care clients. LeapFrog anticipates approximately [&hel[...]
McLean satellite operator to buy in-flight broadband biz for $400M
McLean-based communications satellite services provider Intelsat Corp. announced Monday it will acquire in-flight broadband connectivity provider Gogo Inc.’s commercial aviation business for $400 million. Under the acquisition, Intelsat plans to pair its satellite and ground network to Gogo’s base of more than 3,000 commercial aircraft, according to a company statement. The transaction[...]
