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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[...]
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[...]
Amazon delays construction on HQ2
Amazon.com Inc. is delaying construction on the second phase of HQ2, its $2.5 billion East Coast headquarters in Arlington County. The news comes as Amazon plans to open HQ2’s first phase, Metropolitan Park, in June, and as the Fortune Global 500 tech company laid off a record 18,000+ workers amid concerns over slowing rev[...]
Torc to acquire Canadian computer vision firm
Blacksburg-based Torc Robotics on Tuesday announced it will acquire Montreal-based computer vision company Algolux Inc. A purchase price was not disclosed. Torc, a self-driving truck company, is an independent subsidiary of Daimler Truck AG. Torc said in a news release that it is acquiring Algolux for its expertise in computer vision and machine learning. Algolux […]
Norfolk tech startup plans $1M expansion
Norfolk-based digital magazine startup Magazine Jukebox Inc. (MJB) will invest $1 million to expand, moving from a coworking space into an office, and will create an estimated 20 jobs. Gov. Glenn Youngkin announced the expansion Tuesday. “We are proud that Magazine Jukebox, an emerging leader in the technology services sector,[...]
DroneUp takes off
Virginia Beach’s DroneUp LLC is riding the leading edge of the unmanned aerial vehicle industry wave. Founded in 2016, the company, which specializes in commercial drone delivery, flight services and software, has grown its ranks from three to 530 employees. Retail giant Walmart Inc. is a new partner, and DroneUp is close to c[...]
Torc names regulatory, safety SVP
Blacksburg-based Torc Robotics has named Michelle Chaka as senior vice president overseeing safety and regulatory matters, the self-driving truck company announced Wednesday. Chaka, who most recently has worked as a director for safety assurance and standards for Pittsburgh-based autonomous trucking solutions firm Locomation Inc[...]
Health first
2023 BEST PLACES TO WORK — SMALL EMPLOYERS WINNER SmartEdge IT LLC, a Herndon-based business software development company, places a high premium on employee health and well-being. SmartEdge pays 100% of the premium for its health care package and provides $50,000 life insurance policies for all full-time employees, benefits th[...]
Cox expands Myers’ role to East Coast
Cox Communications Inc. has expanded Virginia executive J.D. Myers II’s’ role so that he now oversees much of the East Coast. Myers, who is based in Chesapeake, previously had oversight of operations and business growth in Virginia. As senior vice president and region manager of Cox’s East Region, he now has ov[...]
Report: Air taxis could land Va. $16B in new biz by 2045
Air taxis could generate up to $16 billion in new business in Virginia and carry as many as 66 million passengers by 2045, according to an economic impact study released Tuesday. The report, commissioned by the Virginia Innovation Partnership Corp. and the state commerce and trade secretary, forecasts short, carbon-free flights[...]
Rocket Lab launches first mission from U.S. soil
After more than a month’s delay, Rocket Lab USA’s first launch from U.S. soil at NASA’s Wallops Flight Facility in Accomack County blasted off Tuesday evening. The mission, “Virginia is for Launch Lovers,” lifted off around 6 p.m. EST from the company’s Launch Complex 2 at Virginia Space’s Mid-A[...]
