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Boeing to build 184 helicopters under $1.9B contract
Arlington-based Boeing Co. will build 184 AH-64E Apache attack helicopters for the U.S. Army and international customers under a $1.9 billion contract modification announced by the Pentagon Friday. The award brings the contract’s total funded value up to $2.1 billion and has the potential to surpass more than $3.8 billion [...]
DXC penalized by SEC over misleading financial info
Ashburn-based Fortune 500 IT company DXC Technology Co. has been penalized by the federal government for making “misleading” financial reports from 2018 to early 2020, according to the U.S. Securities and Exchange Commission. DXC did not admit or deny the charges, but consented to a cease-and-desist order and agreed [...]
Parsons to acquire N.J. software company
Centreville-based Fortune 1000 defense contractor Parsons Corp. has entered into an agreement to acquire IPKeys Power Partners Inc., a New Jersey provider of enterprise software platform solutions, the company announced Tuesday. The $43 million acquisition is expected to close in the second quarter. IPKeys Power Partners deliver[...]
Cvent to be acquired in $4.6B deal
Tysons-based meetings and events software company Cvent Holding Corp. has agreed to be acquired by New York-based private equity firm Blackstone in a deal valued at about $4.6 billion, the company announced Tuesday. Under the agreement, Cvent stockholders will receive $8.50 per share in cash, representing a premium of 52% to the[...]
Ship repair contractor expanding Norfolk presence
Advanced Integrated Technologies (AIT), a ship repair contractor for the Navy, Coast Guard, Military Sealift Command and U.S. marine, industrial and commercial industries, will invest $500,000 to expand its Norfolk operations and add 76 jobs, Gov. Glenn Youngkin announced Friday. The Norfolk-based company will increase capacity at its location in Norfolk Industrial Park, off Ingleside […]
DXC rejects buyout proposal from Asian firm
Ashburn-based Fortune 500 company DXC Technology Inc. has ended buyout talks after a “financial sponsor” failed to raise enough capital, the company announced Monday. DXC was approached in late September 2022 after receiving interest from a private equity firm and worked with advisers on the potential takeover, the c[...]
BAE Systems receives $245.6M Army contract
Falls Church-based BAE Systems will procure early-order material to support the future purchase of the Army’s Armored Multi-Purpose Vehicles (AMPV) under a $245.6 million cost-sharing contract announced by the Pentagon Friday. Work will be performed by BAE Systems’ land and armaments sector in York, Pennsylvania, wit[...]
Noblis promotes VP, chief people officer to senior VP
Reston-based Noblis Inc. is expanding the role of Vice President and Chief People Officer Deborah Drake by promoting her to senior vice president, the not-for-profit federal contractor announced Tuesday. Drake leads Noblis’ human resources and organizational development, including talent recruitment, total rewards system a[...]
Boeing receives $1.2B aircraft development contract
Arlington-based Boeing Co. will develop two E-7 Airborne Early Warning and Control aircraft for the Air Force under a $1.2 billion award announced by the Pentagon Tuesday. The contract initiates prototype development activities of U.S. variations of the aircraft, which replaces the service’s E-3 aircraft. Work will be perf[...]
Compound growth
As U.S. stocks hit bear market territory last year, Virginia’s largest publicly traded companies weathered rising interest rates, inflation and continued supply chain and labor challenges. Rising home mortgage rates drove a slowdown in new business at McLean-based Freddie Mac. Plunging prices for used cars caused Goochland Cou[...]
Defense and defensibility
When it comes to tech and government contractors, Northern Virginia’s national profile continued to rise in 2022. Arlington County, where Amazon.com Inc.’s multibillion-dollar HQ2 is continuing to take shape in National Landing, made headlines around the globe in spring 2022. Fortune 500 companies Boeing Co. and Raytheon Tec[...]
Amentum to relocate headquarters to Chantilly
Aerospace defense contractor Amentum Services Inc. is consolidating its operations and moving its headquarters from Germantown, Maryland, to Chantilly, a move that will add 157 jobs, Gov. Glenn Youngkin announced Monday. The relocation comes a little more than a year after Amentum completed its $1.9 billion all-cash purchase of [...]
