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Bitcoin whale Michael Saylor accused of tax fraud
Tysons-based MicroStrategy Inc. Executive Chairman Michael Saylor is being sued by the city of Washington, D.C., which accuses Saylor of engaging in a fraudulent scheme to deprive the city of more than $25 million in income taxes while living in “a luxury penthouse on the Georgetown waterfront” and claiming to be a r[...]
DroneUp appoints second Walmart exec to board
Virginia Beach-based DroneUp LLC has appointed David Guggina, Walmart Inc.’s senior vice president of innovation and automation, to its board of directors, the commercial drone delivery and flight services company announced Monday. “DroneUp has been a key player in making customer delivery via drone a reality for mil[...]
Va. officials woo chip manufacturers
U.S. Sen. Mark Warner and state and local economic development officials are vying to attract semiconductor chip manufacturing facilities to four Virginia industrial sites as the commonwealth gears up to fight for a piece of the financial pie from sweeping federal legislation that promises to ramp up chip production in the U.S. [...]
Torc Robotics names new CEO
Blacksburg-based self-driving truck company Torc Robotics has named Peter Vaughan Schmidt its next CEO, the Daimler Truck AG subsidiary announced Thursday. Currently head of Daimler Truck’s Autonomous Technology Group, Schmidt will take on his new role Oct. 1 and succeeds Michael Fleming. The company produces software for [...]
MicroStrategy CEO Michael Saylor to step down, become exec chair
Amid mounting losses from its multibillion-dollar bitcoin investments, MicroStrategy Inc. CEO and founder Michael Saylor is stepping down from his current role and will take on the position of executive chairman, the Tysons-based technology company announced Tuesday. The move is effective Aug. 8. MicroStrategy President Phong Le[...]
Leidos buys Aussie special missions biz
Reston-based Fortune 500 federal contractor Leidos Holdings Inc. has entered into an agreement with British technology aerospace manufacturer Cobham Ltd. to purchase the special missions business from its Australia-based Cobham Aviation Services subsidiary, according to a news release. Financial details of the deal, which will a[...]
Lumos plans Hampton Roads fiber internet expansion
Lumos announced last week an $83 million ultra-high-speed fiber internet expansion that is expected to extend 100-gigabyte capacity over 760 miles in Hampton Roads, affecting as many as 85,000 residents and businesses across Virginia Beach, Chesapeake and Portsmouth by 2025. According to a news release, construction is expected [...]
EY names eight Virginians mid-Atlantic entrepreneurs of year
Eight leaders from six Virginia businesses have been named winners of Ernst & Young LLP’s Mid-Atlantic Entrepreneur of the Year Award for 2022. The winners, named in early July by the Big Four multinational professional services company, include: 10Pearls | Imran Aftab, co-founder and CEO, Vienna Aireon LLC | Don Thom[...]
Herndon-based ePlus acquires Texas company
Herndon-based technology solutions provider ePlus Inc. has acquired Future Com Ltd., a Texas-based tech company, ePlus announced Monday. Financial terms of the transaction were not disclosed. The deal closed on July 16. Future Com offers hardware, software, support and consulting services. “As we actively work to grow our secu[...]
Deltek to acquire Wis. software company
Herndon-based software company Deltek Inc. announced Thursday it had entered into an agreement to acquire Wisconsin-based TIP Technologies Inc. Financial details of the transaction were not disclosed. The acquisition is expected to close in the third quarter of 2022. “For nearly forty years, Deltek has had a relentless focus on government contracting and powering our […]
ASGN acquires Mass. IT company for $350M
Henrico County-based IT and professional services provider ASGN Inc. announced last week that it has finalized its previously announced $350 million cash acquisition of GlideFast Consulting LLC. Founded in 2015, Waltham, Massachusetts-based GlideFast provides tailored solutions for the ServiceNow cloud computing platform, which helps companies manage digital workflows for enterprise operations. GlideFast has more than […][...]
ICF acquires SemanticBits for $220M
Fairfax-based management consulting firm ICF International Inc. announced Thursday it had completed its $220 million acquisition of health tech contractor SemanticBits. In June, ICF announced it had entered into a definitive agreement to acquire the Herndon-based company, and that its existing credit facility would fund the $220[...]
