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N.C.-based Oransi merges with Radford’s Aviemore
Raleigh, North Carolina-based Oransi, a manufacturer of air purifiers, will merge with Radford-based Aviemore Technologies, Oransi announced Monday. In April, Oransi, announced it would build a $5.6 million manufacturing facility in Radford. Founded in 2009, Oransi will utilize proprietary technologies from Aviemore, a designer and manufacturer of motion controls, to manufacture an air moving syst[...]
Come together
Virginia is seeing a wave of bank mergers and acquisitions, a trend that could intensify, banking experts say. “We could potentially see a record-setting year for bank mergers and acquisitions,” says John Asbury, president and CEO of Richmond-based Atlantic Union Bankshares Corp. and chairman of the Virginia Bankers Association. Banks are reaching for scale, meaning […]
Parsons to purchase BlackHorse Solutions for $203M
Centreville-based Parsons Corp. announced Thursday it has entered into a definitive agreement to acquire Herndon-headquartered BlackHorse Solutions Inc. for $203 million. The transaction is expected to close in July. BlackHorse, founded in 2018, works in the areas of cyber, digital operations, artificial intelligence, machine learning and full-spectrum operations, and Parsons plans to integrate th[...]
W.Va.-based United Bankshares to acquire Essex Bank for $303M
Henrico County-based Community Bankers Trust Corp., the parent company of Essex Bank, has entered into a $303.3 million deal to be acquired by Charleston, West Virginia-based United Bankshares Inc., United Bank’s parent. After the companies announced the agreement Thursday, Community Bankers Trust’s stock rose 29.78% as of mid-afternoon to $11.94 per share and United Bankshares’ [...]
Sentara, Cone Health call off merger
Sentara Healthcare and Greensboro, North Carolina-based Cone Health have abandoned plans for a merger first announced in August 2020, according to a joint statement released Wednesday from the two health care systems. The Sentara Healthcare Board of Directors and the Cone Health Board of Trustees came to the mutual agreement to end affiliation plans late […]
Axios-Athletic merger gets axed
A proposed merger between Arlington-based digital news company Axios Media Inc. and San Francisco-based sports media firm the Athletic is no longer going forward, according to a May 6 report from The Wall Street Journal. The Journal had previously reported that the companies had been exploring merging and going public through through a special purpose […]
McLean-based DISYS to acquire Florida staffing company
McLean-based global managed services and staffing firm Digital Intelligence Systems LLC (DISYS) has signed an agreement to acquire Signature Consultants LLC, an IT staffing, consulting and managed solutions company headquartered in Fort Lauderdale, Florida, DISYS announced Wednesday. Exact financial details of the transaction were not disclosed, but the deal creates a company with 8,500 employees [...]
Genworth kills long-delayed $2.7B acquisition
Henrico County-based Fortune 500 insurer Genworth Financial Inc. announced Tuesday that it has formally terminated its long-delayed $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. The news follows a Jan. 5 announcement by Genworth that it was putting a hold on the deal, first announced in 2016. At the same time, the company […]
Virginia National Bank finalizes merger with Fauquier Bank
The parent company of Virginia National Bank announced the completion of its merger with Fauquier Bankshares Inc. today, creating a combined bank with $1.7 billion in assets and $1.5 billion in deposits as of Dec. 31, 2020. The merger, announced in October, brings together Charlottesville-based Virginia National Bankshares Corp. and the Warrenton-based parent company of […]
Vienna, Arlington government contractors merge
Vienna-based government contractor The Ambit Group and Arlington-based IT company GreenZone Solutions Inc. have merged. Financial terms of the transaction were not disclosed. The combined company will operate under the Ambit brand. Founded in 2004, Ambit provides mission-driven services for government customers, while GreenZone specializes in data management, operations, science and analytics. Und[...]
San Francisco space data firm to merge with Reston SPAC to go public
San Francisco-based space-based data and analytics firm Spire Global Inc. announced Monday it will merge with Reston-based special purpose acquisition company NavSight Holdings Inc. to become a public company. Financial terms of the transaction were not disclosed, but it values the combined company at $1.6 billion and is expected to produce $475 million in gross […]
Tysons analytics firm Qomplx plans to go public
Tysons-based risk analytics firm Qomplx Inc. announced Monday its plan to go public through a merger agreement with Tailwind Acquisition Corp., a special purpose acquisition company backed by Philip Krim, co-founder and CEO of online mattress retailer Casper Sleep Inc. The deal values Qomplx, which will be listed on the New York Stock Exchange under […]
