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231-unit affordable housing development coming to McLean
Construction will begin immediately on the 231-unit first phase of an affordable housing development in McLean backed by Amazon.com, SCG Development announced Wednesday. Located at 1750 Old Meadow Road, Somos at McLean Metro will be developed in two phases. In the first phase, Tysons-based SCG Development will demolish an abandoned office building on the property […]
Maryland & Virginia Milk Producers CEO to retire
Jay Bryant, CEO of Herndon-based Maryland & Virginia Milk Producers Cooperative Association (MDVA), is retiring at the end of this year, and Jon Cowell, MDVA’s current chief financial officer, will succeed him, the cooperative announced Friday. Bryant has worked at the MDVA, a cooperative of more than 900 dairy farm families in 10 states, for […]
Capital One-Discover deal faces federal scrutiny
McLean-based Capital One Financial announced plans in February to buy Discover Financial Services for $35.3 billion in an all-stock deal that would mark Capital One’s largest ever acquisition and make it the nation’s biggest credit card lender. The transaction is expected to close in late 2024 or early 2025, according to the banks. At close, […]
The Aerospace Corp. relocates HQ to Chantilly
The Aerospace Corp., a nonprofit government contractor that bills itself as running the nation’s only federally funded research and development center “committed to the space enterprise,” officially relocated its headquarters from El Segundo, California, to Chantilly on Thursday. The organization, which provides technical expertise in space-related science and engineering, has no plans f[...]
MicroStrategy buys $623M more bitcoin in March
Tysons-based tech company MicroStrategy continues to grow its cryptocurrency collection, acquiring more than 9,200 more bitcoins in one week in March. From March 11 to March 18, MicroStrategy acquired approximately 9,245 bitcoins for approximately $623 million in cash, according to the company’s Tuesday filing with the U.S. Securities and Exchange Commission. On Monday, MicroStrategy complet[...]
McLean AI health care startup raises $111M in Series A funding
McLean-based Zephyr AI has raised $111 million in a Series A funding round, the health care technology startup announced March 13. The round included participation from about 30 investors, including Revolution Growth, Eli Lilly & Co., Jeff Skoll, and Epiq Capital Group, according to a news release and a Securities and Exchange Commission filing from […]
HII’s Mission Technologies secures $305M DIA contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division won a $305 million Defense Intelligence Agency contract to provide intelligence analysis and operational support services for the Joint Intelligence Operations Center – Korea, assisting the United States Forces Korea (USFK), HII announced Tuesday. Under the recompeted task order, HII will also assist USFK with organi[...]
MicroStrategy’s fortunes rise as bitcoin sets new record
Tysons-based tech company MicroStrategy, the world’s largest corporate holder of bitcoin, has been riding a recent surge in the cryptocurrency, which hit an all-time high of $69,324.58 Tuesday morning before falling off somewhat in the afternoon. As of Feb. 25, MicroStrategy and its subsidiaries held a total of 193,000 bitcoins, which was worth $13.38 billion […]
McLean’s Iridium to purchase Satelles
McLean-based Iridium Communications, a global satellite communications company, has entered into an agreement to acquire Satelles, a Reston-based provider of satellite-based time and location services that serve as a backup for GPS and other global navigation satellite systems (GNSS), Iridium announced Monday. Satelles’ positioning, navigation and timing (PNT) service is known as Satellite T[...]
Northern Va. Year-in-Review: Back to the cookie jar
Data centers continued to dominate, define and, in some cases, shape the arc of Northern Virginia’s 2023 economic story. Amazon Web Services cleared its hurdle in Stafford County, and although Prince William County’s controversial Digital Gateway project faced major public backlash, supervisors ultimately voted to approve the 1,200-acre project’s rezoning applications in December[...]
Amentum secures $591.6M Navy contract
Chantilly-based federal contractor Amentum Services has won a $591.6 million contract from the U.S. Naval Sea Systems Command (NAVSEA) to support eligible allied naval forces, the company announced Tuesday. Under the contract from the NAVSEA International Fleet Support Program Office, Amentum will provide life-cycle support and follow-on technical solutions — including system upgrades; systems i[...]
Navy Federal Credit Union CEO McDuffie to retire
Mary McDuffie, president and CEO of Vienna-based Navy Federal Credit Union, the nation’s largest credit union with $168.4 billion in assets and more than 13 million members, is retiring as of the end of February, and Chief Operating Officer Dietrich Kuhlmann will succeed her starting March 1, the credit union announced Wednesday. According to the […]
