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Private equity firm purchases Reston office building
A New York-based real estate private equity firm, HighBrook Investors, secured a three-year floating-rate loan of $29 million, with extension options, to purchase the Reston Metro Center One office building, located near the future Reston Town Center Metro station and the planned $1.4 billion Halley Rise mixed-use development. HighBrook received the loan from Rubenstein Mortgage […]
Microsoft to invest $64M in Fairfax County expansion, create 1,500 jobs
Microsoft Corp. will invest $64 million to expand its presence in Reston Town Center in western Fairfax County, creating 1,500 jobs, Gov. Ralph Northam announced Wednesday. The software giant will occupy 400,000 square feet in the Reston Town Center, which will include a software development and research hub, as well as retail space. The project […]
McLean-based Cvent lays off, furloughs 10% of workforce
As the hospitality industry has taken one of the biggest COVID-19 hits of all, McLean-based event software company Cvent Inc. confirmed Friday it is laying off or furloughing 10% of its global workforce due to business impacts from the pandemic. “Meetings and events boost the global GDP by more than $1.5 trillion and impact nearly […]
Google wins seven-figure DoD contract
Google Cloud, a division of Google LLC, announced Thursday that it’s been awarded a seven-figure Department of Defense contract to provide multi-cloud management. A specific contract award amount was not disclosed. The contract will be completed for the DoD’s Innovation Unit (DIU), which works to scale commercial technology across the agency. Google Cloud will build […]
Reston tech company names AI senior director
Reston-based government technology company Octo Consulting Group announced Tuesday that it has named Rob Albritton as the senior director of its AI Center for Excellence. Albritton most recently worked as a machine learning engineer at McLean-based The Mitre Corp., a nonprofit that conducts research for government agencies. In his new role, he will lead AI […]
Falls Church health IT company acquires Vienna tech firm
Falls Church-based health information technology company Cognosante LLC has acquired Vienna-based tech company Enterprise Information Services LLC (EIS). Financial terms of the transaction were not disclosed. Cognosante plans to use the acquisition to expand its federal contracting market. “EIS’ proven success in enterprise services, biometrics and cybersecurity provides expanded capabil[...]
Goldman Sachs to acquire McLean financial firm
McLean-based online financial services company Folio Financial Inc. announced Tuesday it will be acquired by New York City-based The Goldman Sachs Group Inc. Both companies provide investment management, asset management and brokerage services. Financial terms of the transaction were not disclosed. Acquisition discussions began in 2019, and the transaction is expected to close by the […]
Booz Allen wins $800M AI defense contract
Tysons-based federal contractor Booz Allen Hamilton announced Tuesday it has won an $800 million, five-year contract from the U.S. General Services Administration to create artificial intelligence products for warfighting operations supporting the Department of Defense’s Joint Warfighter National Mission Initiative. Booz Allen will embed AI decision-making and analysis at all tiers of DoD op[...]
McAuliffe joins advisory board of Herndon’s HawkEye 360
Herndon-based satellite company HawkEye 360 Inc. announced Monday that former Virginia Gov. Terry McAuliffe and former National Security Agency Deputy Director Chris Inglis have joined its advisory board. The company also announced earlier this month that David Farnsworth was named its chief financial officer. “HawkEye 360 is exactly the kind of business whose growth I […]
SAIC names executive VP, strategic growth officer
Reston-based defense contractor Science Applications International Corp. (SAIC) announced Monday it has named Dorothy “Dee Dee” Helfenstein as its executive vice president and chief strategic growth officer — a newly created position at the company. Helfenstein most recently was the executive vice president at McLean-based management consulting company Booz Allen Hamilton. Both SAIC and Bo[...]
35 Virginia companies make 2020 Fortune 1000 list
Thirty-five Virginia-based companies made Fortune magazine’s 66th annual Fortune 1000 list, which was released Monday. The list ranks the 1,000 largest United States corporations by total revenue. Of the 35 Virginia companies, 22 made the elite Fortune 500 list. Science Applications International Corp. (SAIC) is the only Virginia newcomer to the Fortune 500 list. Last year […]
McLean satellite operator Intelsat files for bankruptcy
McLean-based satellite operator Intelsat Corp. announced Friday it has filed for Chapter 11 bankruptcy protection, as it faces a $15 billion debt burden. “Our success has come despite being burdened in recent years by substantial legacy debt,” Intelsat CEO Stephen Spengler said in a statement. “Now is the time to change that.” Intelsat said in […]
