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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 […]
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 […]
Youngkin budget outlines EVMS/ODU merger by 2024
In his proposed budget amendments released Thursday, Virginia Gov. Glenn Youngkin lays out the framework and a timeline for the merger of Eastern Virginia Medical School and Old Dominion University, requiring it to take place by July 2024. Youngkin’s amendments to the 2022-24 state budget, which must be passed by the General Assembly during its 2023 […]
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 […]
CNSI to merge with Tenn. health services company
McLean-based health information technology provider CNSI and Nashville, Tennessee-based health care management tech company Kepro have agreed to merge, the two firms announced Wednesday. The combined company will provide government-sponsored health care agencies and payers with clinical services, provider management, health claims, processing and health analytics services. The merger is expected t[...]
Telus International to acquire WillowTree for $1.2B
Charlottesville-based WillowTree Inc., recently recognized by Adweek for being one of the fastest-growing agencies in the nation, has entered into an agreement to be acquired by Canadian tech company Telus International Inc. for $1.225 billion, Telus announced Thursday. The acquisition is expected to close in January and is subject to regulatory approvals. Under the agreement, […]
DXC Technology receives takeover interest
Ashburn-based DXC Technology Co. has received takeover interest from at least one private equity firm and is working with advisers, Bloomberg reported Wednesday. A company spokesperson declined to confirm details about the potential takeover to Virginia Business, saying DXC doesn’t “comment on market rumor and speculation.” The company’s stock rose to $28.84 at 1:30 p.m. [&[...]
Google completes $5.4B Mandiant acquisition
Google LLC has completed its acquisition of Reston-based cybersecurity company Mandiant Inc. in an all-cash transaction valued at $5.4 billion. Google is paying $23 per share for Mandiant, which is joining Google Cloud while retaining its branding. The companies announced the deal in March. Together, Google Cloud and Mandiant will offer customers more capable end-to-end […]
ManTech stockholders approve $4.2B sale to Carlyle Group
ManTech International Corp. stockholders have approved the Herndon-based tech contractor’s sale to The Carlyle Group for approximately $4.2 billion. Stockholders green-lighted the sale during a Sept. 7 special meeting, subject to customary closing conditions. The transaction is expected to close this week. “We thank our stockholders for their strong support of this transaction,” said Man[...]
A stitch in time: ODU, EVMS eye potential merger
At the end of 2020, Eastern Virginia Medical School firmly rejected a study recommending that the medical school merge to become part of Old Dominion University. But time passes, minds change, and sometimes there’s turnover at the top. In August 2021, Dr. Richard Homan, who’d led EVMS for nearly a decade, retired. By December, Dr. […]
CarLotz to merge with San Francisco’s Shift
Richmond-based CarLotz Inc., the nation’s largest consignment-to-retail used vehicle business, will merge with San Francisco-based Shift Technologies Inc., a similar platform on the West Coast, the companies announced Tuesday. The companies will combine in a stock-for-stock merger, according to a news release and will trade on Nasdaq under SFT. At the close, the new company […]
Axios to be sold to Cox Enterprises for $525M
Axios Media Inc., the Arlington-based digital media company and news outlet, announced Monday it will be sold to investor Cox Enterprises Inc. for $525 million in a deal reached Sunday. The company is expected to reach $100 million in revenue this year, it says. According to Axios, its three co-founders — CEO Jim VandeHei, President […]
