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M&A

Metallica acquires Alexandria records maker
Mar 14, 2023

Metallica acquires Alexandria records maker

Master of puppets — and now master of vinyl record production, legendary heavy metal band Metallica has acquired a majority interest in Alexandria-based vinyl records maker Furnace Record Pressing. Financial terms of the transaction, which the two entities announced Tuesday, were not disclosed. “We couldn’t be more happy to take our partnership with Furnace … […]

Cvent goes public again
Mar 14, 2023

Cvent to be acquired in $4.6B deal

Tysons-based meetings and events software company Cvent Holding Corp. has agreed to be acquired by New York-based private equity firm Blackstone in a deal valued at about $4.6 billion, the company announced Tuesday. Under the agreement, Cvent stockholders will receive $8.50 per share in cash, representing a premium of 52% to the volume weighted average […]

2022 Virginia 500: Federal Contractors | Technology
Mar 7, 2023

DXC rejects buyout proposal from Asian firm

Ashburn-based Fortune 500 company DXC Technology Inc. has ended buyout talks after a “financial sponsor” failed to raise enough capital, the company announced Monday. DXC was approached in late September 2022 after receiving interest from a private equity firm and worked with advisers on the potential takeover, the company confirmed in October. While DXC did […]

The Hilb Group grows to 48 offices in 18 states
Mar 6, 2023

Hilb Group acquires Fla. insurance agency

Henrico County-based insurance agency The Hilb Group LLC has acquired E/G of Florida, the company announced Friday. The acquisition took effect Jan. 1. Financial terms of the transaction were not disclosed. “E/G of Florida represents a terrific addition to our company, aligned with our growth strategy by adding greater expertise in vital markets, as well […]

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Mar 3, 2023

Divaris Group acquires N.C. mixed-use leasing, advising firm

Virginia Beach-based Divaris Group has acquired North Carolina-based real estate planning, advisory and leasing firm The McGarey Group, the firm announced Friday. Financial terms and other details of the acquisition were not disclosed. The McGarey Group, led by President and CEO F. Denver McGarey, is now operating within Divaris Advisory, a division of Divaris Group. […]

Woods Rogers Vandeventer Black Chairman Victor Cardwell oversaw the 2022 merger that resulted in Virginia’s fifth largest law firm. Photo by Don Petersen
Feb 27, 2023

Resetting the bar

Two venerable Virginia law firms — Roanoke’s Woods Rogers PLC and Norfolk’s Vandeventer Black LLP — combined forces in July 2022, creating the state’s fifth largest firm, Woods Rogers Vandeventer Black PLC, based in Roanoke. It’s a true statewide firm, with branch offices in Norfolk, Richmond, Lynchburg and Charlottesville, in addition to locations in Kitty […]

Jan 18, 2023

Babel Street acquires text analysis platform

Reston-based web and social media monitoring company Babel Street Inc. has completed its previously announced acquisition of text analytics platform Rosette. Financial terms of the transaction were not disclosed. Babel Street first announced the acquisition in November 2022. The company completed its purchase of the platform from Massachusetts-based BasisTech LLC at the end of December […]

Jan 18, 2023

Pavion acquires Mo. video security company

Chantilly-based technology firm Pavion, formerly Corbett Technology Solutions Inc. (CTSI), acquired Missouri-based Short Circuit Electronics Inc., Pavion announced last week. Financial terms of the transaction were not disclosed. Pavion is a portfolio company of Chicago-based private equity firm Wind Point Partners. The acquisition is Pavion’s 11th since it was acquired by Wind Point in June[...]

All together now
Jan 17, 2023

TowneBank completes Farmers Bank acquisition

Suffolk-based TowneBank has completed its acquisition of Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, TowneBank announced Tuesday. The $56 million deal created a combined company worth $17.5 billion in total assets, loans of $10.9 billion and $14.5 billion. It adds Isle of Wight and Southampton counties to TowneBank’s service area, as well […]

The Hilb Group grows to 48 offices in 18 states
Dec 20, 2022

Hilb Group acquires Ga. insurance agency

Henrico County-based insurance company The Hilb Group LLC announced Tuesday it had acquired Georgia-based Gillman Insurance Problem Solvers. Financial terms of the acquisition, which became effective Dec. 1, were not disclosed. “Joining The Hilb Group allows us to build further upon our long-standing, dedicated focus on our customers,” Ed Gillman, Gillman Insurance’s founder and [...]

Mehul Sanghani, CEO of Reston-based Octo Consulting Group, and his wife, Hema, donated $10 million to Virginia Tech in January 2021. Part of the gift will support Tech's Center for Artificial Intelligence and Data Analytics. Photo courtesy Ethan Meurlin
Dec 8, 2022

Reston-based Octo to be acquired by IBM

Reston-based Octo is being acquired by IBM and its 1,500 employees will become part of IBM Consulting’s U.S. public and federal market arm. Terms of the deal were not disclosed in a news release Thursday. IBM is acquiring the company from Arlington Capital Partners and the deal is expected to close by the end of […]

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Nov 29, 2022

Leonardo DRS completes merger, goes public

Arlington-based defense contractor Leonardo DRS Inc. is now a public company. The company began trading on the Nasdaq composite Tuesday morning, opening at $11.50, following the completion Monday of its all-stock merger with Israel-based Rada Electronic Industries Ltd. to form a $3 billion company.  The companies announced their plans to merge in June. Under the […]

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