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Reston-based Leidos acquires L3Harris businesses for $1B
Reston-based defense contractor Leidos Holdings Inc. announced Tuesday it has officially completed the acquisition of Massachusetts- and England-based L3Harris’ Security Detection and Automation businesses for approximately $1 billion in cash. The deal was originally announced on Feb. 4, when the boards of directors of both companies unanimously approved the transaction, according to a Leido[...]
Reston IT company to be acquired by Cognizant
Reston-based human resources tech company Collaborative Solutions LLC will be acquired by New-Jersey based information technology company Cognizant, the companies announced Tuesday. Financial terms of the transaction were not disclosed and the deal is expected to close during Q2 2020. Collaborative Solutions specializes in Workday Cloud Platform applications for finance and human resources. Foll[...]
Alarm.com subsidiary acquires apartment intercom company
A subsidiary of Tysons-based security company Alarm.com announced Monday it has acquired apartment intercom system company Doorport Inc. Financial terms of the transaction were not disclosed. Through the acquisition, PointCentral Smart Property Management, which focuses on rental properties, will now be able to offer building security and access as well as property management through a […[...]
Booz Allen Foundation launches $1M fund for COVID-19 innovation projects
McLean-based global management consulting company Booz Allen Hamilton Inc. announced Friday that its foundation has launched a $1 million Innovation Fund that is open to nonprofits, small businesses and individuals who have ideas for projects that can help solve COVID-19-related social problems. Founded in 2017, The Booz Allen Foundation provides funding to youth and education […]
Internet governing body blocks $1.1B sale of Public Interest Registry
The governing body of Internet domain addresses voted Thursday to block the $1.135 billion sale of the Public Interest Registry, a Reston-based nonprofit created by the Internet Society in 2002 to manage the .org top-level domain, to private equity firm Ethos Capital. The Public Interest Registry has operated the .org domain — which is used […]
Leidos subsidiary tapped to develop lunar landing system
Dynetics, a wholly owned aerospace subsidiary of Reston-based defense contractor Leidos, is one of three prime contractors awarded contracts by NASA to design the human lunar landing system that will take the first woman and next man to the moon’s surface by 2024. The other two aerospace companies are Amazon.com Inc. President and CEO Jeff […]
McLean investment bank names head of security practice
McLean-based middle-market investment bank The McLean Group LLC announced Tuesday that Marc Gruzenski has been named as the head of its security practice. Gruzenski was most recently the director of global security technology and director of information protection for The Walt Disney Co. He has also worked as the chief of intelligence and analysis and […]
Fairfax County establishes $2.5M small business loan fund
Fairfax County announced Thursday that it has established the Fairfax County Small Business COVID-19 Recovery Fund — a $2.5 million fund to support small businesses that have suffered economic hardship during the pandemic. The recovery fund will make no-interest loans of up to $20,000 to eligible businesses. In order to apply, the small business must […]
McLean IT company names new CFO
McLean-based Altamira Technologies Corp. announced Thursday that A. Adam Omar will serve as its new chief financial officer. A certified public accountant, Omar previously worked as CFO for Maryland-based CyberCore Technologies and he has worked as a vice president and finance executive for companies including Reston-based Science Applications International Corp., Software AG and LexisNexis. He [...]
Gannett announces mass layoffs, pay cuts, furloughs
McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, sent an email to employees Monday announcing mass layoffs, furloughs and pay cuts, according to The Daily Beast. Like other media outlets, the company has reportedly a large drop in advertising revenues recently due to the financial crisis caused by the COVID-19 pandemic. Gannett has a […]
Tegna acquisition talks fall through
As the financial fallout from the COVID-19 pandemic escalates, Tysons-based Tegna announced that two offers to acquire the Gannett spinoff company have fallen through. “TEGNA and its advisors engaged substantially with two of these parties and provided them extensive non-public due diligence information,” the company wrote in a statement over the weekend. “These two parties […]
As COVID-19 crisis continues, SBA is saving small businesses
With the world economy in crisis, Congress and President Donald Trump are working at breakneck speed to pass a massive stimulus package. This package is necessary to restore jobs and to stop unemployment from reaching 20%. Lawmakers aren’t alone in taking action to stave off coronavirus-induced economic disaster. The Small Business Administration (SBA) has issued […]
