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What stays and what goes
With renewed hopes stemming from vaccine distribution, economists and business leaders are looking ahead toward recovery, including pandemic-induced changes that will stay and ways we’ll return to “normalcy.” While it’s evident that the technology sector’s upward trend will continue, Federal Reserve Bank of Ric[...]
Northam announces $3.6M expansion of Eaton in Henrico
Power management manufacturer and supplier Eaton Corp. plc will invest $3.6 million to move production from California to its facility in Henrico County, Gov. Ralph Northam announced Friday. The move will create 80 jobs through the expansion of the Henrico facility’s production capabilities and the addition of new lines for electrical component manufacturing. Eaton, an […]
Chantilly systems integrator acquires Mechanicsville biz’s security solutions division
Chantilly-based tech systems integrator Corbett Technology Solutions Inc. (CTSI) announced last week it has acquired the integrated security solutions division of Mechanicsville-based electrical contractor Electrical Controls & Maintenance (EC&M). Financial terms of the transaction were not disclosed. EC&M was founded in 1996 and in 2001 launched its security systems integrator division, which serves health care, […[...]
Arlington engineering firm merges with Ala.-based tech company
Arlington-based Millennium Engineering and Integration (MEI) announced last week it has merged with Huntsville, Alabama-based QuantiTech. Financial terms of the transaction were not disclosed, but the combined company will have more than 2,000 employees across more than 20 U.S. locations. MEI provides systems engineering and integration services for space, defense, cyber, intelligence and aviation customers. […][...]
First Bank to acquire The Bank of Fincastle
Strasburg-based First National Corp. (the bank holding company of First Bank) announced Thursday it will acquire The Bank of Fincastle. Financial terms of the transaction were not released, but the combined bank is expected to have approximately $1.2 billion in assets, $868 million in loans, $1 billion in deposits and 20 branch offices across Virginia. […]
Virginia lawmakers advance Consumer Data Protection Act
RICHMOND, Va. — The General Assembly is advancing legislation that allows Virginia consumers more protection with their online data, though opponents say the measure does not include the ability for people to file private lawsuits against companies that breach the proposed law. The measure is known as the Consumer Data Pro[...]
Fairfax company wins $175M Homeland Security contract
The U.S. Department of Homeland Security awarded Fairfax-based software company Salient CRGT Inc. a $175 million contract to provide IT service desk and field engineer support services for U.S. Citizenship and Immigration Services (USCIS), the company announced last week. Under the five-year contract, Salient CRGT will provide services for approximately 27,000 USCIS end users across […]
U.Va. Health System to buy out Novant Health in NoVa partnership
The University of Virginia Health System has signed a letter of intent to buy out Novant Health U.Va. Health System, a Northern Virginia regional health system owned by the two institutions through a joint operating company that formed in 2016. Financial terms of the proposed acquisition have not been disclosed. Winston-Salem, N[...]
ODU announces $3.9M cybersecurity scholarship program
Old Dominion University announced Thursday its School of Cybersecurity and Center for High Impact Practices has received a $3.9 million National Science Foundation grant to offer scholarships to cybersecurity students. Through the grant, ODU will work with Tidewater Community College and Thomas Nelson Community College to provide full in-state tuition scholarships, an annual stipend ranging […][...]
Herndon satellite company BlackSky to go public
Herndon- and Seattle-based global monitoring company BlackSky announced Thursday it will go public following its acquisition by Osprey Technology Acquisition Corp., a transaction that values the combined company at $1.1 billion. Under the transaction, the special purpose acquisition corporation will merge with the Herndon company. BlackSky’s shareholders will own 62% of common shares of the […][...]
Va. saw slight uptick in jobless claims last week
Initial jobless claims filed last week rose 4.9% from the previous week, according to figures released Thursday by the Virginia Employment Commission, while continued claims slightly dropped. During the week ending Feb. 13, 14,901 Virginians filed initial unemployment claims, compared to 14,203 from the week prior. Last week, [...]
BAE Systems wins $247M Space Force contract
Arlington-based defense contractor BAE Systems announced Wednesday it has received a $247 million U.S. Space Force contract to design and manufacture an advanced GPS receiver and semiconductor. Work on the contract will be performed for the Space Force’s Space and Missile Systems Center. The technology will provide positioning[...]
