Sign In
Free Newsletter
RTX subsidiary secures $1.5B Air Force contract
Pratt & Whitney, a subsidiary of Arlington County Fortune 500 aerospace and defense contractor RTX, secured a three-year award valued at up to $1.5 billion to sustain F119 engines powering the U.S. Air Force’s F-22 fighter jets. RTX announced the contract award to its aerospace manufacturing subsidiary, headquartered in Co[...]
Sauer Brands acquired by Boston firm; new CEO named
A Boston private equity company completed its purchase of Richmond-based Sauer Brands, which produces Duke’s Mayo, Sauer spices and other food products, the companies announced Wednesday. With the change in ownership comes a new CEO for Sauer. E. Yuri Hermida, most recently executive vice president and chief growth and str[...]
Hampton University achieves prestigious R2 research status
Hampton University announced last week that it has obtained Research 2 designation — making it one of the few historically Black colleges and universities to do so. The university received the designation from the Carnegie Classification of Institutions of Higher Education, which ranks research institutions based on the volume[...]
ASGN to acquire Chicago employment tech firm for $340M
Fortune 1000 IT and professional staffing services firm ASGN has signed a definitive agreement to acquire Chicago-based employment tech consultancy TopBloc for $340 million, the Henrico County-based company announced Tuesday. The transaction in cash and equity is expected to close in the first quarter of the year, subject to clo[...]
MicroStrategy unveils new name and logo, emphasizing Bitcoin
The Tysons tech company formerly known as MicroStrategy has a new moniker: Strategy. In addition to announcing a new name, the Bitcoin behemoth chaired by Michael Saylor unveiled Wednesday a new logo and a new brand color. “The new logo includes a stylized “B,” signifying the company’s Bitcoin strategy, and its unique po[...]
Virginia Beach hires economic development director
Virginia Beach has hired a new director of economic development. City Manager Patrick Duhaney appointed Christian Green to the post, and he will join the city Feb. 24, according to a Tuesday announcement. Green follows Charles E. “Chuck” Rigney, who resigned from the job in July 2024. In an August 2024 article in The Virgini[...]
Bassett returns to profitability in Q4, beats expectations
Bassett Furniture reported revenue of $84.3 million in the fourth quarter, an 11% decrease from last year, on Wednesday. However, a positive operating income of $900,000 means the company has returned to profitability after five consecutive quarters in the red. The Henry County home furniture manufacturer and retailer beat expec[...]
Va. Chamber of Commerce reveals next president and CEO
Cathie J. Vick will be the new leader of the Virginia Chamber of Commerce, starting April 1. The business advocacy organization with more than 30,000 members announced on Tuesday her appointment as president and CEO. Vick is currently vice president of corporate and government affairs at Transurban, one of the world’s larg[...]
Va. Tech Innovation Campus opens first academic building
The first academic building of Virginia Tech’s Innovation Campus in Alexandria opened to students Tuesday as classes commenced. Virginia Tech started construction on the first academic building of the $1 billion campus in September 2021 and had planned to open the $302 million building in August 2024, but supply chain issues[...]
Amentum lands Air Force contract worth almost $448M
Amentum Services has won a $447.9 million Air Forces Central Command contract, the Chantilly-based federal contractor announced Thursday. Under the Air Forces Central Command Global Prepositioned Materiel Services contract, Amentum will provide and update prepositioned storage and maintenance solutions for the Ninth Air Force. �[...]
Leidos wins TSA contract worth up to $2.6B
Reston-based Fortune 500 federal contractor Leidos has won Transportation Security Administration contract worth up to $2.6 billion, according to a Tuesday notice on SAM.gov. TSA awarded the TSA Checkpoint Integrated Logistics Support Services contract for checkpoint maintenance services on Dec. 31, 2024. According to the reque[...]
BridgeTower Media acquires Furniture Lighting & Décor publication
BridgeTower Media — the parent company of Home Accents Today, a sister publication of Virginia Business — last month acquired industry trade publication Furniture Lighting & Décor from Scranton Gillette Communications, a deal that unites two powerhouse home furnishings brands. Terms of the deal were not disclosed. “W[...]
