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Booz Allen Hamilton launches $100M VC fund
Booz Allen Hamilton Inc. has formed a $100 million corporate venture capital arm, the McLean-based Fortune 500 global management consultancy announced Wednesday. Named Booz Allen Ventures LLC, the arm will invest in early-stage companies and technologies across four categories: defense, artificial intelligence/machine learning, cybersecurity and deep technology. “We are proud and excited to cont[...]
CTSI purchases NYC’s largest fire alarm company
Chantilly-based technology company Corbett Technology Solutions Inc. (CTSI) has acquired New York-based fire alarm company Firecom, CTSI announced Tuesday. Financial terms of the transaction were not disclosed. CTSI is a portfolio company of Chicago-based private equity firm Wind Point Partners. The Firecom deal is CTSI’s 10th acquisition since it was purchased by Wind Point in […]
Carsales.com to fully acquire Trader Interactive
Australian online auto sales forum Carsales.com Ltd. plans to acquire the remaining 51% of Norfolk-based Trader Interactive from Eurozeo and Goldman Sachs Asset Management for $839.14 million, the companies announced this week. Carsales.com bought 49% of Trader Interactive in August 2021 for $624 million and will now own the company in its entirety, funding the […]
McLean-based ID.me lays off 54 workers
McLean-based tech company ID.me Inc. has laid off 54 employees, months after the Internal Revenue Service — among other government agencies — said it would drop its plan to require taxpayers to submit to facial recognition via ID.me’s software. Fifty-four employees lost their jobs, according to the Worker Adjustment and Retraining Notification Act, which is […]
The Acacia Group acquires Atlanta consulting firm
Tysons-based private equity firm The Acacia Group announced Wednesday that it had acquired Atlanta-based technology, staffing and consulting firm The Baer Group. Financial details of the transaction were not disclosed. The Baer Group will form a new platform business within the Acacia platform. “We see immediate opportunities for Baer to support the clients of current […]
Tech manufacturer to add 32 jobs in Newport News
Newport News-based automated machinery designer Mühlbauer Inc. will invest $9 million to expand its Newport News operation, a project expected to create 32 jobs, Gov. Glenn Youngkin announced Thursday. Mühlbauer Inc. is the U.S. subsidiary of German company Mühlbauer Group. The company will make upgrades to its Oakland Industrial Park facility and add production equipment. […]
Bio-plastic startup wins Lighthouse Labs pitch contest
While pitching to the sharks, entrepreneur Alec Brewer told them, “I do have white powder in my pocket,” before quickly clarifying that it wasn’t an illicit substance: “It’s PHB! It’s PHB!” Brewer passed the vial over for the sharks’ inspection during his Lighthouse Labs Demo Day pitch Thursday for his company, Ourobio, of which he […]
Gainwell Technologies hires new client engagement officer
Tysons-based Gainwell Technologies has named Karen Shields as its chief client engagement officer, the health and human services IT provider announced last week. Shields will work in collaboration with Gainwell’s project management team to anticipate and fulfill client needs, according to a news release. She previously served as deputy director for the Center for Medicaid […]
Cyberwar zone
Earlier this year, Kwabena Konadu received a call from one of the small businesses he advises on IT and cybersecurity. The company’s chief financial officer had received an email from a purported ethical hacker — cyberspeak for “good guy” — who had found the official’s username and password for accessing company data on the dark […]
Richmond tech company to add 30+ jobs
Shockoe, a Richmond-based technology company that builds apps and other tech products for client companies, will expand to create more than 30 jobs, Richmond’s mayor announced Thursday. Headquartered in the Scott’s Addition neighborhood, Shockoe was founded in 2010 by Edwin Huertas and has been featured in the Inc. 5000 list of fastest-growing privately held companies, […]
Google to invest $300M in Va., announces workforce grant
Google will invest $300 million in Virginia in a plan that includes data centers, the technology giant announced Tuesday during a press conference at its Reston office. That’s in addition to a $250,000 grant to Richmond-based nonprofit CodeVA to develop a network of computer science lab schools to expand professional development for teachers, resources for […]
Ellucian closes acquisition of CampusLogic
Reston-based higher education software company Ellucian Inc. has completed its acquisition of Chandler, Arizona-based financial aid software provider CampusLogic Inc, Ellucian announced Tuesday. The deal was first announced in January. Financial details were not disclosed. Campus Logic is a software-as-a-service (SaaS) company that provides financial aid tools and platforms for colleges and univer[...]
