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Capital One, Discover shareholders approve $35.3B acquisition
The proposed $35.3 billion blockbuster acquisition of Discover Financial Services by Capital One Financial has been approved by each company’s shareholders, the credit card giants announced Tuesday. Stockholders representing 85.1% of the total number of outstanding shares of Capital One common stock were in favor of the acquisition at a Tuesday meeting held in McLean. […]
Booz Allen fires subcontractor who wrote document about DOGE access to Treasury
McLean-based Fortune 500 management consulting contractor Booz Allen Hamilton has fired a subcontractor who warned the U.S. Treasury Department about the Department of Government Efficiency having access to the Treasury’s payment system. Booz Allen said that sources quoted in recent media reports “mischaracterize a document provided to Treasury officials” and that the company did not [&helli[...]
QinetiQ names new president and CEO
Tom Vecchiolla, a longtime defense executive, has succeeded Shawn N. Purvis as president and CEO of McLean security and defense contractor QinetiQ US, the UK-based parent company QinetiQ Group announced Tuesday. Purvis joined QinetiQ in February 2022, having previously worked at Northrop Grumman, Science Applications International Corp. (SAIC) and Lockheed Martin. In November 2022, QinetiQ US [&h[...]
CFPB sues Capital One, claiming bank avoided paying $2B in interest
The Consumer Financial Protection Bureau has sued Capital One and its McLean holding company, Capital One Financial, alleging the companies cheated millions of consumers out of more than $2 billion in interest payments, the federal agency announced Tuesday. Capital One, the CFPB alleges, promised customers that its flagship 360 Savings account provided one of the […]
Booz Allen to pay $15.8M fine to settle fraud allegations
Booz Allen Hamilton, the McLean-based Fortune 500 global management consultant, has agreed to pay a $15.875 million fine to the federal government to settle allegations that one of its subsidiaries violated the False Claims Act, the Department of Justice announced Jan. 3. According to the DOJ’s statement, two former program managers at Maryland-based Booz Allen […]
Capital One, Discover clear hurdles for $35.3B megadeal
Announced in February, McLean-based Capital One Financial’s proposed $35.3 billion acquisition of Discover Financial Services is moving forward, with stockholders’ votes scheduled early next year, the credit card giants announced this week. Capital One also announced Thursday it received approval from the Office of the Delaware State Bank Commissioner on Wednesday to complete the purch[...]
McLean’s QinetiQ US expands to Huntsville, Alabama
QinetiQ US, a McLean security and defense contractor, held a ribbon-cutting ceremony Tuesday to celebrate its expansion into Huntsville, Alabama. Known as “The Rocket City” for its role in the country’s development of space exploration, Huntsville is home to NASA’s Marshall Space Flight Center, which is located at the Redstone Arsenal. Originally established to make [&helli[...]
HII division lands $6.7B Air Force contract
The U.S. Air Force has awarded Huntington Ingalls Industries’ McLean-based Mission Technologies division a $6.7 billion contract to provide electronic warfare engineering and technical services support, according to a Thursday announcement from the defense contractor. The indefinite-delivery, indefinite-quantity contract is the largest Mission Technologies has yet landed, according to HII. �[...]
HII’s Mission Technologies secures $3B DOD contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division won a $3 billion contract to provide the Department of Defense logistics and intelligence support and technology. Under the Logistics Services, ISR [Intelligence, Surveillance and Reconnaissance] Operations and Next-Gen Technology (LOGIX) task order, the HII division will provide strategy-level support to the DOD and its m[...]
Appian taps new chief revenue officer
Mark Dorsey is Appian’s new chief revenue officer, the McLean cloud computing and software company announced Oct. 11. He replaces Christopher Jones, who left in April to become chief revenue officer for New Relic, a software developer based in San Francisco. Dorsey, who has a MBA from the Carroll School of Management at Boston College, […]
These six Va. billionaires made Forbes’ 2024 richest Americans list
Six Virginia billionaires are among the 400 richest Americans, according to Forbes’ annual ranking, which the media company released Tuesday. To make the Forbes 400 list, U.S. citizens had to have a minimum net worth of $3.3 billion — an increase of $400 million over 2023’s list. Collectively, the members of this elite club are […]
HII’s Mission Technologies wins $458M DOD contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division won a $458 million federal defense contract to modernize information technology architecture. Under the five-year task order, which HII announced Tuesday it had won, the division will use model-based systems engineering to develop, assess and implement technical solutions to improve cybersecurity, add capabilities and enab[...]
