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Arlington engineering firm merges with Ala.-based tech company
Arlington-based Millennium Engineering and Integration (MEI) announced last week it has merged with Huntsville, Alabama-based QuantiTech. Financial terms of the transaction were not disclosed, but the combined company will have more than 2,000 employees across more than 20 U.S. locations. MEI provides systems engineering and integration services for space, defense, cyber, intelligence and aviation[...]
McLean-based NuWave merges with Md. firm to form AI company
McLean-based federal technology contractor NuWave Solutions LLC and Columbia, Maryland-based PCI Strategic Management announced Tuesday the companies have merged to form BigBear.ai. NuWave CEO Reggie Brothers will become CEO of BigBear.ai and Sean Battle, former co-founder and CEO of PCI, will serve as vice chairman and chief strategy officer. Financial terms of the merger were […]
Carlyle Group buys two Va. tech companies; forms Two Six Technologies
An affiliate of Washington, D.C.-based global investment firm The Carlyle Group has acquired Virginia tech companies IST Research and Two Six Labs to form Two Six Technologies Inc., which will provide tech services to the intelligence community, the Department of Defense and other national security customers. Financial terms of the acquisitions were not disclosed, but […]
DXC Technology says ‘non, merci’ to French company’s purchase bid
Three weeks after receiving an unsolicited and nonbinding offer to purchase all of its shares, Tysons-based Fortune 500 IT services company DXC Technology‘s board has turned down the proposal from Paris-based IT company Atos SE, DXC announced Monday. According to DXC’s statement Monday night, its board determined Atos’ offer was too low and lacked certainty, […]
Blue Ridge Bank, Bay Banks complete merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Monday it has completed the merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. Virginia Commonwealth Bank will continue to operate under its current name until systems are converted in May. The bank will […]
Shareholders approve Blue Ridge, Bay Banks merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to […]
Stockholders approve CarLotz merger
CarLotz Inc., the Chesterfield County-based consignment dealer of used cars, announced Friday that stockholders had given it the requisite approval to complete a proposed merger with Miami-based special purpose acquisition company Acamar Partners Acquisition Corp. that is expected to close on Jan. 22. The merger is still subject to satisfaction of other conditions, including approval […]
Falls Church firm buys Silicon Valley company
Falls Church-based association advisory firm Advancea LLC announced Tuesday it has acquired Arroyo Grande, California-based Group Purchasing Solutions (GPS). Financial terms of the acquisition were not disclosed. Founded in 2008, GPS specializes in affinity programs serving mid-sized businesses. Affinity programs are partnerships between nonprofits and businesses in which a business may offer excl[...]
Sevatec, Octo Consulting announce merger
Fairfax-based software company Sevatec announced Tuesday it has merged with Reston-based government technology company Octo Consulting Group. The combined organization will have nearly $300 million in annual revenue and 1,100 employees. Founded in 2003, Sevatec provides design, DevSecOps, security, cloud service integration, data engineering and automation services and has won nearly $400 millio[...]
CarLotz plans to go public on Nasdaq
Chesterfield County-based CarLotz Inc., a consignment dealer of used cars, announced Thursday it plans to go public and expand nationwide. CarLotz, which is valued at $827 million, will combine with Miami-based Acamar Partners Acquisition Corp., a publicly traded special purpose acquisition company, to make it a public company. At closing, the company name will remain […]
Genworth’s $2.7B acquisition by Chinese company faces new hurdle
Henrico County-based Genworth Financial Inc. announced Thursday that China-based Oceanwide Holdings Group Co. Ltd. has reached an agreement with Hony Capital on the commercial terms and conditions of its $1.8 billion offshore financing plan to complete its acquisition of Genworth. However, Oceanwide has not reached a final agreement on all terms and conditions due to […]
Virginia National, Fauquier banks to merge
The parent holding companies of Virginia National Bank and The Fauquier Bank will merge under the Virginia National brand into a combined bank with $1.6 billion in total assets. Charlottesville-based Virginia National Bankshares Corp. and Warrenton-based Fauquier Bankshares Inc. have signed a definitive merger agreement, the banks announced Thursday. The combined company will have approximately $[...]
