Fairfax-based technology and engineering company ECS (an ASGN Inc. subsidiary) announced Tuesday that it has hired Pamela Rothka as chief financial officer.
Rothka was most recently CFO for Reston-based government technology company Octo Consulting Group. In her new role, she will oversee strategic finance, accounting, contracts, pricing, business operations, facilities, mergers and acquisitions and divisional reporting.
“Pamela is an industry leader with the knowledge and experience to have a significant impact on ECS’ future,” ECS President George Wilson said in a statement. “We are proud to have Pamela join our team and look forward to leveraging her partnership, knowledge and experience to support our growth.”
Rothka earned her bachelor’s degree in accounting from Drexel University’s LeBow College of Business and her master’s degree in business administration from Temple University.
ASGN offers cloud, cybersecurity, artificial intelligence, machine learning, application and IT modernization and engineering services. The company employs more than 3,000 people.
Gov. Ralph Northam announced Thursday that 10 Virginia companies have graduated from the Virginia Economic Development Partnership‘s (VEDP) Virginia Leaders in Export Trade (VALET) program, which now has more than 300 graduated companies.
The VALET program helps Virginia companies to establish domestic operations for exports and encourages using international exporting as a growth strategy. During the two-year program, businesses learn international sales plan development services through trainings from international service providers, meetings with potential partners, educational events and market research. There are currently 45 companies participating in the VALET program.
“Lending its proven, extensive set of resources to Virginia exporters, the VALET Program positions companies to thrive in the global marketplace,” Northam said in a statement. “This program continues to be an important catalyst for driving export sales and private sector investment — and the commonwealth’s economy is stronger as a result.”
“Virginia is one of the most competitive states in the nation for exporting, and VEDP’s International Trade team contributed greatly to our standing,” Secretary of Commerce and Trade Brian Ball said in a statement. “From Bristol to the Eastern Shore, it’s exciting to see such a diverse group of companies across the commonwealth working to grow their international sales, which will bring jobs and capital investment in Virginia.”
Virginia exports more $35 billion in goods and services annually, according to Northam’s release, which supports more than 257,000 jobs and generates $2 billion in annual tax revenue.
“VEDP is committed to assisting Virginia companies in growing their international sales, which is more important than ever in this time of economic recovery,” VEDP President and CEO Stephen Moret said in a statement.“We are proud of the continued success of the VALET program and its participants, who not only experience sales growth while in the program, but also learn valuable lessons about pursuing international sales that they can carry forward.
“The impact of the jobs and investments these companies contribute in every region of the commonwealth cannot be overstated.”
Fairfax-based product lifecycle management company 3Pillar Global Inc. announced Thursday it has acquired Costa Rica-based software development company Isthmus Software.
A transaction amount was not disclosed.
“The acquisition of Isthmus brings expanded engineering excellence and development expertise to the 3Pillar team, but more, their leadership and team members share our strong core set of values and our focus on innovative digital transformation,” 3Pillar CEO David DeWolf said in a statement. “With this acquisition, we now have more than 200 outstanding new team members and have expanded our ability to drive successful product outcomes for our clients.”
The acquisition is part of 3Pillar’s new growth strategy, which began earlier this year through an investment from New York-based private equity investor CIP Capital, according to the company. The amount and terms of CIP Capital’s investment were not disclosed.
“This strategic acquisition extends 3Pillar’s digital development capabilities and expands its global delivery capabilities,” CIP Capital Managing Partner Justin Lipton said in a statement. “The team will continue to invest aggressively to serve its client base and continue to position 3Pillar as a world leader in the software services industry.”
This will add two offices in Costa Rica and will add Isthmus’ global brand clients Walmart and VMWare to the company’s roster. The company following the completion of the transaction will operate under the 3Pillar name.
“We look forward to bringing our breadth and diversity of experience to 3Pillar’s dynamic team to serve the needs of current and new clients,” Isthmus CEO Marie-France Beaulieu said in a statement. “This is an exciting new chapter for our talented team, and we are eager to begin the process of transitioning into the 3Pillar global family.”
3Pillar was founded in 2006 and creates software for media and publishing companies, information services companies and retail companies.
Initial unemployment claims in Virginia fell by 46% last week, according to a Thursday release from the Virginia Employment Commission.
More than 13,000 Virginians filed initial jobless claims last week — a decrease of more than 10,000 claims from the previous week, according to a VEC statement released Thursday.
For the first time since the pandemic began, the number of initial claims filed in the U.S. dropped below 1 million. According to U.S. Department of Labor (DOL) statistics released Thursday, 963,000 Americans filed initial claims. Pandemic Unemployment Assistance ended during the week of July 25, and Congress has yet to take action to extend it. The program provides temporary benefits for people who are not eligible for regular or traditional unemployment insurance.
“This week’s unemployment claims report shows a marked improvement in the number of Americans filing an initial claim for unemployment benefits,” Robert McNab, director of Old Dominion University’s Dragas Center for Economic Analysis and Policy, said in a statement. “The downward trend in initial and continued claims is welcome news, but we remain well above levels seen in previous recessions. While progress has been made, Hispanic and African American workers have borne a disproportionate burden of COVID-19 infections and unemployment. The challenge remains creating a broad-based recovery that benefits all Americans.”
In Virginia, 264,410 people remained unemployed last week — a decrease of 66,991from the previous week, but 244,425 higher than the 19,985 continued claims from the same period last year. People receiving unemployment benefits through the VEC must file weekly unemployment claims in order to continue receiving benefits.
“Virginia’s labor market has now shown two weeks of continued improvement, with sharp declines in initial and continued unemployment claims,” Dominique Johnson, research associate at the Dragas Center, said in a statement. “The number of Virginians receiving unemployment benefits declined by more than 68,000 from the previous week, the largest decrease since the crisis began in mid-March. If these increases are sustained in the coming weeks, Virginia’s recovery will be well under way.”
The regions of the state that have been most impacted continue to be Northern Virginia, Richmond and Hampton Roads.
Below are the top 10 localities, listed by number of initial unemployment claims, for the week ending Aug. 8:
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday it will merge with Richmond-based Bay Banks of Virginia Inc., parent holding company of Virginia Commonwealth Bank, in an all-stock transaction to create a bank with pro forma total market capitalization of nearly $200 million.
Under the terms of the agreement, Bay Banks shareholders will receive 0.5 shares of Blue Ride common stock for each share of Bay Banks common stock they own. Bay Bank shareholders will own approximately 54% while Blue Ridge shareholders will own approximately 46% of the combined company once the transaction is complete.
The bank will operate under the Blue Ridge name and trade under BRBS on the NYSE American stock exchange. The holding company will be based in Charlottesville and the subsidiary bank will be headquartered in Richmond. The pro forma company would have approximately $2.4 billion in assets, $1.9 billion in loans and $2.2 billion in deposits, according to data as of June 30. This would rank the bank No. 4 in the state for community bank deposit market share for institutions under $10 billion in assets.
“This combination creates additional resources to invest in our communities and the technologies necessary to maintain and improve upon our core commitment to providing responsive, client-centric financial services,” Blue Ridge CEO Brian K. Plum said in a statement “Bay Banks’ combination of longstanding dedicated service to its legacy communities with significant success in key Virginia MSA’s will diversify the combined company’s revenue and market demographics; positioning Blue Ridge as the community bank of choice in its markets.”
Plum will continue as CEO of the combined company and Bay Banks CEO Randal R. Greene will become chief operating officer of the combined company and CEO of Blue Ridge Bank. Bay Banks Chief Financial Officer Judy C. Gavant will become CFO of the combined company and Blue Ridge CFO Amanda Story will become chief accounting officer. Blue Ridge Chief Administrative Officer Jim McCarty will continue in that role for the combined company.
“We are excited to partner with Blue Ridge,” Greene said in a statement. “Blue Ridge has achieved record revenue for the first half of 2020 driven by strong mortgage-related income. This is a great combination of two companies with rich Virginia histories dating back over 200 years combined.”
Raymond James & Associates Inc. served as financial adviser to Blue Ridge while Troutman Pepper Hamilton Sanders LLP served as legal counsel. Bay Banks was advised by Piper Sandler Cos. as financial advisor and Williams Mullen as legal counsel. Strategic Risk Associates LLC advised both companies about credit analysis and testing.
“We remain zealously committed to building a top-performing financial services provider passionately dedicated to serving its communities and clients, and our partnership with Bay Banks reinforces our momentum to fulfill that commitment,” Plum said in a statement.
The National Council for Community and Education Partnerships (NCCEP) announced Wednesday it has awarded the Virginia Foundation for Independent Colleges (VFIC) the 2020 Community Partner of the Year award.
Each year, the NCCEP recognizes achievements by individuals and partners through its Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) Leadership Awards. GEAR UP is a federal education grant administered through the U.S. Department Education and is intended to increase the number of low-income students who are prepared to enter postsecondary education.
The VFIC was recognized for its achievements in strengthening 15 colleges and universities in Virginia through financial support, increased visibility, collaborative programming and initiation support.
“The VFIC was quick to engage in a unique collaboration, with the Virginia Latino Higher Education Network (VALHEN) and GEAR UP Virginia, to bring Latinx students from across the state onto higher education institutions and provide a view of the college experience that is culturally sensitive to Latinx student populations in Virginia,” according to the NCCEP.
Video courtesy NCCEP
University of Richmond President Ronald A. Crutcher said that students at Richmond (one of the colleges that VFIC supports) receives funding for study abroad programs and research. He also said approximately three dozen students receive scholarship support from the VFIC.
“What’s equally as important is a group of trustees who are very interested in these schools. We’re very interested in the state of Virginia and the local communities,” VFIC Chairman Thomas E. Goode, regional private bank manager and senior vice president with Wells Fargo, said in the award announcement. “And we know that these schools have a lot of economic value to the state of Virginia.”
Chantilly-based federal contractor Perspecta Inc. announced Tuesday it has hired Michael Londregan as vice president and campaign manager.
Londregan has more than 30 years of experience working in the federal government and most recently served as the director of corporate communications for the Defense Intelligence Agency, where he started his career as a special agent. He has also worked with the Office of the Director of National Intelligence and held roles including director of the Special Security Center, deputy director of strategy management and director of security.
In his new role, he will be responsible for developing business relationships across government and industry to develop opportunities for the company’s workforce strategy.
Londregan earned his bachelor’s degree in liberal arts and criminal justice from St. Anselm College and his master’s degree in national security strategy from the National War College.
Perspecta employs more than 14,000 workers and won several large federal contracts this past year, including an $824 million, five-year deal with the National Geospatial Intelligence Agency and a $657 million extension on its Next Generation Enterprise Services contract to continue IT services for the U.S. Department of the Navy.
Virginia small businesses and residential customers can receive additional support to pay their energy bills through Richmond-based Dominion Energy Inc.‘s EnergyShare program, the company announced Thursday.
Small businesses, nonprofit organizations and houses of worship can receive up to $1,000 to go toward unpaid Dominion Energy Virginia electric bills that have accrued during the pandemic. Due to coronavirus impacts, the utility committed an additional $1 million to its $13 million annual program to help customers in need of bill assistance. Of the funds Dominion Energy committed on Thursday, $500,000 will go toward business needs while the other half is reserved for residential customers. Small businesses will be able to apply beginning Sept. 1.
“While small businesses are focused on resuming their operations, bringing back their workforce and prioritizing the health and safety of their customers and employees, the EnergyShare Small Business Relief Program lends a hand to those at the heart of our economy,” Virginia Chamber of Commerce President and CEO Barry DuVal said in a statement. “The landscape continues to change due to the ongoing pandemic and many small businesses are in vital need of additional support. That is why the Virginia Chamber Foundation is proud to partner with Dominion Energy on this relief program.”
Dominion is working with the Virginia Chamber of Commerce Foundation to extend the reach of the program. The foundation is establishing an advisory council will work to raise program awareness and funds will be administered through the Virginia Chamber of Commerce Foundation. United Way of Greater Richmond and Petersburg will manage the distribution of funds.
Advisory council members include representatives from the Virginia Asian Chamber of Commerce and Virginia Asian Foundation, the Virginia Hispanic Chamber of Commerce, the Urban League of Hampton Roads, the Virginia Association of Chamber of Commerce Executives, the Northern Virginia Black Chamber of Commerce, the Asian American Chamber of Commerce and the Metropolitan Business League of Richmond.
The EnergyShare program is funded through company contributions (not covered by customer rates) and donations from employees, retirees and the public.
“For decades, EnergyShare has helped many in crisis get the financial help they need and this pandemic has made it an even more crucial resource,” Robert Blue, Dominion Energy Virginia co-chief operating officer and executive vice president, said in a statement. “If you’re having trouble paying your bill, we want you to know we’re here to help you find the best solution for your unique situation.”
The U.S. Army awarded Herndon-based technology and management company Serco Inc. (a subsidiary of United Kingdom-based Serco Group plc) a $27.8 million contract to provide civilian talent management, the company announced Tuesday.
Through the contract, Serco will provide analytic, management and advisory services for the Army’s civilian workforce and provide talent management architecture for the Army Civilian Corps. Specifically, Serco will responsible for services including talent acquisition, development, employment, retention and engagement
“Serco is honored to have been selected to continue delivering civilian readiness and talent management initiatives to the U.S. Army,” Serco Chairman and CEO David Dacquino said in a statement. “As part of our Defense Personnel Readiness business, we have been providing these essential support services since 2011.” Under its Defense Personnel Readiness business, Serco provides military transition, psychological health and family and training services.
The contract was awarded by the Assistant Secretary of the Army for Manpower and Reserve Affairs and has a one-year base period plus four one-year option periods.
Serco Group plc was founded more than 50 years ago and currently employs more than 40,000 people in 35 countries, 8,000 of whom are employed in the U.S. The company works primarily with federal and local government customers.
Norfolk-based Sentara Healthcare announced Wednesday it has signed a letter of intent to combine organizations with Greensboro, North Carolina-based Cone Health.
Transaction details were not disclosed. Sentara President and CEO Howard P. Kern will oversee the combined organization, which will have about $11.5 billion in combined revenue. The corporate headquarters of each organization will remain in Norfolk and Greensboro, North Carolina, respectively.
Howard Kern
“This rapidly changing health care environment requires tremendous transformation and innovation to ensure the long-term success of each respective health system and, most importantly, the very best for those we are privileged to serve,” Kern said in a statement. “We can either react to change, or we can shape it. We are choosing to shape change and will lead this transformation of healthcare together.”
Some of the health systems’ goals for merging include increasing health insurance options, building technology platforms and growing community impact.
The larger health care company’s Greensboro location will serve as the regional headquarters for the Cone Health division and current Cone Health CEO Terry Akin will remain in Greensboro as president of the Cone Health division.
“In Sentara Healthcare, we’ve found a like-minded organization who shares our commitment to transforming healthcare,” Akin said in a statement. “The combined organization will build on our shared commitments and distinct expertise to promote better health outcomes and minimize healthcare costs for consumers.”
The Sentara Healthcare Board of Directors and Cone Health Board of Trustees have each approved the terms of the letter of intent, but the combined organization is subject to state and federal regulatory review and closing conditions. The transaction is expected to close by mid-2021 and it is anticipated that it will take up to two years for the organizations to fully combine and integrate.
Sentara has 12 hospital locations in Virginia and northeastern North Carolina. The health system employs more than 1,2000 physicians and 30,000 people who serve in other roles. Sentara’s Optima Health Plan and Virginia Health Plan serve 850,000 members in Virginia, North Carolina and Ohio. The Cone Health system includes five hospitals in North Carolina, and the health system employs more than 13,000 people. Through its Medicare Advantage health plan, HealthTeam Advantage, it serves 15,000 members.
“Our integration strengthens and accelerates our shared mission and strategy to transform healthcare in the communities we serve,” Akin said in a statement. “We have long said we will not grow, just for growth’s sake. We are joining forces to tackle the toughest challenges in health care.”
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