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Defense tech startups close major funding rounds
Venture capital firms are betting big on two Northern Virginia-based defense contracting startups that are promising high-tech solutions to military challenges. In August, McLean-based Defcon AI announced it had raised $44 million in seed funding led by San Francisco investment firm Bessemer Venture Partners. The same month, Parry Labs in Alexandria raised $80 million in […]
ACI doubles its Chesterfield HQ
Commercial and industrial contractor Atlantic Constructors Inc. (ACI) is doubling its headquarters in Chesterfield County, a roughly $25 million project. The contractor, which provides mechanical, electrical, plumbing and fire protection products and services, plans to open a second 170,000-square-foot building on 18 acres beside its existing building, which sits on 25 acres, in early November. [&[...]
Virginia 500 Spotlight August 2024: MAGGIE REED
PERSONAL MOTTO: She believed she could, so she did. WHAT MAKES ME HAPPIEST: I am happiest outdoors doing almost anything or curled up with a book and my dogs. HOBBY/PASSION: I love to read and to learn — be it podcasts, audiobooks, physical books or life experiences. HOW I CHOSE MY CAREER: I went to […]
Dewberry wins $810M FEMA contract
The Department of Homeland Security has awarded Dewberry, an engineering, architecture and construction firm in Fairfax County, an $810 million contract to deliver logistics planning and construction services to the Federal Emergency Management Agency, according to a System for Award Management (SAM) notice published Friday. The indefinite-delivery, indefinite-quantity contract will support FEMA&#[...]
Peraton exec takes top spot at V2X
Jeremy Wensinger will replace Chuck Prow as president and CEO of McLean-based aerospace and defense contractor V2X on June 17, the company announced Monday. The transition is part of a “board-led succession planning process” the company said in a news release. Wensinger, who will also be a member of V2X”s board of directors, has more […]
Guidehouse lands $12B ICBM support contract
McLean-based consultancy Guidehouse has won a contract valued up to $12 billion for systems engineering supporting the Air Force’s intercontinental ballistic missiles fleet, although the initial contract awardee has filed a protest. The single-award contract, announced Feb. 28 by the Defense Department and April 15 by Guidehouse, is the Integration Support Contract 2.0. Guidehouse was [&hell[...]
BAE Systems closes $5.6B acquisition of Ball Aerospace
Falls Church-based BAE Systems Inc., the U.S. arm of the British defense giant BAE Systems, has completed its $5.6 billion acquisition of Colorado-based Ball Aerospace from Ball Corp. BAE Systems announced Feb. 14 it earned the necessary regulatory approvals and followed that with a Feb. 16 announcement of the deal’s completion. The company first announced […]
MindPetal to acquire VerticalApps
Vienna-based government contractor MindPetal has entered into an agreement to purchase Arlington County-based IT firm VerticalApps, the companies announced Tuesday. Financial details of the transaction were not disclosed. MindPetal and VerticalApps hope to become “a premier [artificial intelligence/machine learning] firm by accelerating intelligent automation and modernization programs with [...]
Real Estate 2023: BRETT HITT
Hitt’s grandparents started the family business in 1930, now one of Virginia’s biggest general contracting firms, earning $5.41 billion in 2022 construction revenue and landing in the top 20 of Engineering News-Record’s 2023 Top Contractors list. Hitt joined his family’s company as an assistant project manager in 1984. He rose through the ranks to become […]
Real Estate 2023: KIM ROY
From a young age, Roy has been interested in being a builder, and in 2017, she was appointed the first non-family member to lead the 86-year-old company that employs more than 900 workers in the commonwealth. A Virginia Tech alumna with a bachelor’s degree in construction, Roy went to work at Hitt in 1999 as […]
Parsons to acquire N.J. software company
Centreville-based Fortune 1000 defense contractor Parsons Corp. has entered into an agreement to acquire IPKeys Power Partners Inc., a New Jersey provider of enterprise software platform solutions, the company announced Tuesday. The $43 million acquisition is expected to close in the second quarter. IPKeys Power Partners delivers cyber and operational security to electric, water and […]
Cadence acquires Conn. device components manufacturer
Staunton-based medical and drug delivery devices manufacturer Cadence Inc. has acquired Connecticut-based miniature medical device components manufacturer Utitec Inc., Cadence announced Tuesday. Financial details of the transaction were not disclosed. Utitec specializes in miniature, deep drawn medical device and commercial components. The company has a medical facility in Costa Rica. “Acquiring[...]
