Leesburg-based cybersecurity company PhishMe announced Wednesday it has purchased the key assets of phishing intelligence firm Malcovery Security LLC. of Birmingham, Ala.
“The integration of Malcovery’s offerings into PhishMe’s comprehensive anti-phishing platform will boost the accuracy and value of the intelligence and response capabilities for our customers,” Aaron Higbee, PhishMe’s chief technology officer and co-founder, said in a statement.
The acquisition price was not disclosed.
PhishMe will incorporate Malcovery’s brands into its anti-phishing products. The company said it will use the added layer of malware analysis and threat intelligence in a variety of ways, including sourcing content for simulations and adding enhanced analytics and automated response to phishing incidents.
PhishMe will add Malcovery’s employees to its staff, growing its total employes to 200.
PhishMe was named to the 2015 Inc. 5000 list of the nation’s fastest-growing firms. Its revenues grew 892 percent over the past three years.
Northrop Grumman Corp. announced plans this week to streamline its operations and also appointed a chief operating officer.
The company is combining its four business units into three, effective Jan. 1.
As part of the plan, Gloria Flach will become the company’s chief operating officer of the company. Flach is currently corporate vice president and president of Northrop Grumman’s Electronic Systems sector.
Ttwo new business sectors will be created by merging elements of the company’s current Electronic Systems, Information Systems and Technical Services sectors.
A new Mission Systems sector will include the company’s existing Electronics Systems sector and businesses from the Information Systems sector that are focused on the development of new products. Kathy Warden, corporate vice president and president of Information Systems, will lead the Maryland-based sector.
The services portfolio of Information Systems will combine with the Technical Services sector to form a new Technology Services division. Chris Jones, now corporate vice president and president of the Technical Services division, will lead the sector.
Aerospace Systems will add Northrop Grumman’s military and civil-space hardware business in Azusa, Calif., which currently is part of the Electronic Systems. The electronic attack business that currently reports to Aerosystems will move to the Missions Systems sector. Tom Vice will continue to lead the Aerospace Systems sector.
Dollar Tree Inc. is rebranding its 222 Deals stores, transitioning 217 into Dollar Tree stores and the remaining five into Family Dollar stores.
Dollar Tree acquired 138 Deals stores in 2006 and grew the brand to 222 locations in 19 states. The Deals stores offer discount prices on everyday essentials, seasonal and home products.
Dollar Tree expects to complete Deals conversions by the end of July 2016.
On July 6 of this year, Dollar Tree acquired 8,200 Family Dollar stores in 46 states. The company reiterated Tuesday its plans to complete at least 150 conversions of Family Dollar stores to the Dollar Tree brand by the end of October. More conversions are planned in 2016.
“This initiative to rebrand our Deals stores enhances our ability to focus on our two primary banners, Dollar Tree and Family Dollar, while improving efficiencies throughout our business,” Dollar Tree CEO Bob Sasser said in a statement. “We are very pleased with our progress on the Family Dollar integration, as we continue to focus on growing our business while creating long-term shareholder value.”
Virginia has received a $4.3 million federal grant from the U.S. Department of Education to help Virginians with disabilities train for and seek employment in high-demand jobs.
The five-year grant will be used to address needed enhancements to the commonwealth’s existing career pathway systems to ensure access for Virginians with disabilities.
The project will start in south Central Virginia and the Shenandoah Valley.
The DARS Wilson Workforce and Rehabilitation Center in Fishersville will work with the Virginia Manufacturers Association to create a one-week training program. Blue Ridge Community College also is expected to partner on the project.
The federal grant was awarded to only three other states.
The commonwealth and other partners will contribute a minimum of $506,891, or 11 percent of the project’s five-year budget.
Towers Watson announced Thursday that it has completed its acquisition of Brovada, a Canadian technology provider for property and casualty (P&C) insurers and brokerages.
The Arlington County-based company said the acquisition will help its capabilities across its portfolio of software targeted at the P&C market.
Brovada will operate as a separate unit within the company’s Risk Consulting and Software business. Brovada’s founder and CEO, Karl Greenlaw, will continue to lead the Brovada team.
Towers Watson is a global professional services company that has 16,000 employees around the world.
State exports reached almost $36 billion in 2014, according to a new benchmark of state exports.
The Virginia Chamber Foundation released its first Virginia International Trade Profile on Tuesday. The analysis found that Virginia exports were responsible for more than 320,000 jobs and $2 billion in tax revenue in 2014.
Growing exports is seen as a way to to help bolster Virginia's economy in the wake of sequestration cuts.
“With 80 percent of future global economic growth projected to occur outside the U.S. over the next five years, private sector firms have an imperative to seek potential customers for their goods and services abroad,” Virginia Chamber of Commerce President Barry DuVal said in a statement.
According to the report, total state exports reached $35.9 billion in 2014, an increase of 56 percent since 2003. The report also found that the proportion of gross state product (GSP) attributable to exports has grown from 5.6 percent in 2003 to 7.8 percent in 2014. (Although the percentage peaked in 2011 at 8.1 percent.)
The report found:
Virginia is less export intensive than the U.S. and other states, largely because of its dependence on federal spending and its more services-oriented economy. Virginia’s export intensity is 7.8 percent versus 11.6 percent in the U.S.
From 2009 to 2014, about 30 percent of Virginia’s growth was driven by exports.
About half of Virginia exports are in services sectors, a higher proportion than the U.S. In Virginia, services represent 47 percent of Virginia exports, while goods make up 53 percent. In the U.S., goods represent 66 percent of exports, while services represent 34 percent.
The state’s three largest export regions are Northern Virginia (31.5 percent of state exports), Hampton Roads (15.8 percent) and Richmond (15 percent). However, 14 out of the remaining 15 regions have higher export intensity (exports as a percentage of gross state product) than the three largest regions.
The report says Virginia is well-positioned to grow its exports, particularly in the middle market (companies that have 20 to 499 jobs or a range of $10 million to $1 billion in revenues).
Virginia offers several trade-assistance programs that include targeted market research, face-to-face meetings with foreign businesses and the Virginia Economic Development Partnership’s two-year VALET (Virginia Leaders in Export Trade Program).
Candy manufacturer Mars Inc. announced Wednesday it plans to buy Grupo Turin, a Mexican manufacturer of high-end chocolates.
McLean-based Mars said the acquisition will help position the company to take advantage of the growing Mexican chocolate market.
Groupo Turin has been in business since 1928 and owns iconic brands Conejos and Turin. The transaction is expected to be completed in the first quarter of 2016 and is subject to approval from the Mexican Antitrust Commission.
“When this transaction is completed, we will be proud to welcome Turin associates to Mars,” says Jean-Christophe Flatin, global president of Mars, said in a statement. “The strong cultural heritage of the two companies and our shared commitment to develop best in class talent, quality products and brands are great fundamentals on which to deliver value to our customers and our consumers in Mexico.”
Mars owns major food and pet-food brands, including M&M’s Pedigree, Doublemint and Uncle Ben’s. The company reports $33 billion in annual sales and more than 75,000 employees in 73 countries.
In a series of large gray tanks along an inlet off the Chesapeake Bay, groups of oysters no bigger than the tip of a pinky finger have begun to cling to empty oyster shells.
In these tanks, these weeks-old oysters attach to shells while acclimating to water from the Chesapeake Bay that is constantly pumped through the tank. Because oysters are natural filter feeders “the water’s actually going out cleaner than it’s coming in,” says Tim Rapine, managing director of operations at Cherrystone Aqua Farms in Cheriton on the southern end of Virginia’s Eastern Shore.
The tanks serve as a transition period for these selectively bred oysters. They have been raised in hatcheries in giant tanks on a diet of rich algae. They’ll spend a few weeks in the tanks before being placed on the bay’s bottom, where they will grow for one to two years before being harvested.
This process, called “remote setting” or “spat on shell,” is becoming an increasingly popular way to grow oysters that will be shucked (meaning they will be used in stews or fried rather than being served on the half shell.) Cherrystone, which started using this growing method four years ago, believes it will become a major boon for Virginia oyster growers. “We think this is going to be a game changer in Virginia,” says Chad Ballard, the president of Cherrystone, who represents the fifth generation in his family to grow shellfish. Cherrystone is the brand name of Ballard Fish & Oyster Co.
The refining of this process is just one of the latest trends in the rapid growth of shellfish aquaculture — the breeding and harvesting of fish in water.
Both generations-old oyster businesses and industry newcomers have seen success in growing oysters in a controlled environment, giving shellfish companies less guesswork in harvesting and greater ability to produce consistent quantity. The process also allows them to better protect shellfish from natural predators.
Virginia’s oyster industry has seen a resurgence during the past decade because of a combination of factors, including ongoing research, the management of public oyster beds, the addition of public hatcheries and the creation of a native sterile oyster.
These advancements, coupled with Virginia’s system for leasing water bottoms for growing shellfish, allowed the industry to take off at a time when the number of oysters from the Gulf of Mexico were dropping in the wake of Hurricane Katrina and the BP oil spill.
“Everything came together at the right time for us,” says Jim Wesson, head of the Virginia Marine Resources Commission’s (VMRC) Conservation and Replenishment Division. “At the same time that we had created a good method to grow oysters and added hatcheries, [the Gulf’s] supplies were being cut off…It was the perfect time for Virginia to get a foothold in the oyster markets.”
Already the largest clam producer by aquaculture in the country, Virginia also can claim its place as the largest oyster producer on the East Coast. The industry sold an estimated 40 million single oysters in 2014, an increase of 28 percent over 2013, according to the Virginia Shellfish Aquaculture Situation and Outlook Report from the Virginia Institute of Marine Science.
An oyster resurgence Virginia’s oyster population was once a thriving industry, but in the 1950s two diseases decimated the native oyster population.
Faced with dim prospects for the future and decades of difficulties, Ballard’s grandfather prepared in 1983 to close a family oyster business begun in 1895.
His grandfather consulted with a well-known researcher at the time and ultimately decided to invest in the fledgling idea of farming shellfish. “He thought, “I can retire, or I can throw all my chips on one last ride,’” says Ballard.
Ballard Fish became one of the state’s pioneers in shellfish aquaculture. It took six years before Ballard’s clams were marketable, but today the company is the largest hard clam producer in the country.
The success Virginia had during the early 1990s in the controlled raising and harvesting of clams quickly replaced wild clam fisheries. It also laid the groundwork of research and infrastructure that later could be applied to oyster aquaculture. “Clam aquaculture was looked at and developed as an alternative to using the leased bottom,” says Karen Hudson, shellfish aquaculture specialist at the Virginia Institute of Marine Science.
Virginia’s leasing of its water bottoms dates back to the late 1800s, when the commonwealth established a system for leasing areas to grow oysters or clams. The state now has more than 120,000 acres under lease among 5,000 leaseholders, according to the VMRC.
Under law, leaseholders must use the water bottoms, and they can be passed down to future generations. The rent, which hasn’t been changed since the 1960s, is $1.50 per acre. “Our aquaculture is light years ahead of anyone else when it comes to oysters produced from aquaculture,” says John M.R. Bull, commissioner of the VMRC. “Maryland is now trying to do what we’ve been doing for the last century.”
While clam aquaculture flourished on the leased bottoms, efforts continued to try to find a way to revive the much-loved Virginia oyster. In the early 2000s, a project involving Virginia and Maryland agencies, as well as federal officials and more than 90 oyster scientists, examined introducing a non-native oyster species in the Chesapeake Bay.
Ultimately, scientists recommended against introducing the Asian oyster, but out of that effort came the creation of a native “triploid” oyster — an oyster that does not breed. The non-native triploid had been developed to help compare it with a triploid Asian species so that it could safely be tested.
The sterile oyster thrived in the Chesapeake Bay.
Oysters use a lot of energy when they reproduce during the summer months, making them scrawny and not harvestable. The introduction of a sterile oyster, which now represents more than 90 percent of raised oysters in Virginia, meant oysters could be harvested year-round. The move also allowed oysters to grow to a marketable size more quickly without going through reproductive cycles.
“It wasn’t deliberately developed for aquaculture, but people discovered that its usefulness was quite high,” says Stan Allen of the Virginia Institute of Marine Science. He heads the institute’s Aquaculture Genetics and Breeding Technology Center (ABC).
Allen, who first developed the triploid as a graduate student, says the disease-resistance research has truly allowed the oyster population to grow. “A lot of people conclude that the success for aquaculture is based a lot on the triploid, but the fact of the matter is that the triploid is the whipped cream on the sundae,” says Allen. “The main thing that enables stable aquaculture to thrive and grow is really the disease-resistance aspect of things.”
Refining the raising of shucked oysters
Most of Virginia’s oyster growing has centered on the cultivation of single oysters, or those that are served on the half shell. This labor-intensive process uses cages, racks and floats to store the oysters as they grow. Cage-culture oysters must be raised and shaken frequently so the oyster creates a nice deep cup.
Aquaculture has been too labor intensive to produce shucked oysters. But remote setting, where hatchery-raised oysters grow on shells before being planted on water bottoms, would allow aquaculture to be used for shucked products, because their shape doesn’t matter.
Ryan Croxton, co-owner of Rappahannock River Oysters in Topping, started an oyster business with his cousin in the early 2000s when their grandfather’s leases on the Rappahannock River were about to expire. The company has focused mostly on growing single oysters that the company sells in its three restaurants and distributes throughout the U.S. and even to Canada and Hong Kong.
But the company is now investing in some remote setting planting, which allows it to offer shucked oyster at a lower price point than oysters on the half shell. “If done right, it’s a great answer for what the industry needs,” says Croxton. “Cultured oysters are not completely affordable…I want everybody to be able to enjoy oysters.”
But the growth of oyster farming in Virginia faces some big hurdles. So far, hatchery production of oyster seed and eyed larvae needed for aquaculture has been unable to keep up with demand. (A handful of larger shellfish companies, like Cherrystone, are vertically integrated and have their own hatcheries.)
Croxton says he doesn’t know many people in the industry who have been able to get enough seed or eyed larvae they need. “We are able to meet our current needs,” says Croxton, “but we haven’t been able to grow as quickly as we’d like.”
Water quality is an issue for the entire industry but likely can impact hatcheries the most, when any problems in water quality easily affect the developing oysters.
Wild-caught oysters are back
While aquaculture has grown, the wild-caught oysters also have seen a resurgence. The Virginia Marine Resources Commission has helped public oyster beds through management practices such as rotational harvests and public shell plantings with fossil shells from outside Jamestown.
Wild oysters are harvested both in private leases and public fisheries. “Oysters are the most complicated fishery that we manage, because it’s not just one fishery,” says Bull, who adds that the VRMC manages 87 species. “What works in the Rappahannock River doesn’t necessarily work on the seaside of the Eastern Shore.”
Oyster harvests were less than 20,000 bushels in the 1990s. In 2014, the harvest topped 500,000 bushels. “We buy all that we can from the independent oyster men,” says Tommy Kellum, vice president of Kellum Seafood, which distributes oysters to 34 states. “I embrace our aquaculture efforts in Virginia, and there are a lot of smart people in the industry, but it’s important to me to recognize the contributions historically as well as today of the traditional fishery that has contributed to the economy of Virginia.”
The good news for the Chesapeake Bay is that the addition of more oysters — whether wild-caught or grown — is good for the environment. “With shellfish, you’re making money, but the shellfish is cleaning the water at the same time,” says Wesson with the Virginia Marine Resources Commission. “It’s actually removing nitrogen from the water.”
Today there is growing interest in oyster production up and down the East Coast, including Virginia. The commission received more than 500 applications for leases on the water bottoms in the last two years.
“What we have in Virginia is pretty unique,” says Bull. “I don’t know of anybody else that has this amount of water under lease, significant participation in aquaculture and a wild-caught fishery that has been doing very well in recent years. Combined with clam aquaculture, I don’t know anybody else that’s doing the business of shellfish like Virginia.”
IT contractor ICF International has named Allstate executive Sanjay Gupta to its board of directors.
Gupta is executive vice president of marketing, innovation and corporate relations for Allstate, which is the largest publicly held personal lines insurer in the U.S. Previously, he was chief marketing officer for Ally Financial Services, and held marketing positions at Bank of America, SciQuest.com and Federal Express Corp.
“As ICF shapes a comprehensive suite of capabilities to meet the needs of both commercial and public sector clients in the U.S. and globally, Sanjay Gupta’s insight and perspective will be most valuable,” ICF International Chairman and CEO Sudhakar Kesavan said in a statement.
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