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Perspecta to be acquired for $7.1B in all-cash deal
Chantilly-based federal contractor Perspecta Inc. will be acquired for $7.1 billion by Herndon-based national security contractor Peraton, an affiliate of private investment firm Veritas Capital, in an all-cash deal, the companies announced Tuesday. Perspecta will combine with Peraton under the transaction, which is expected to [...]
Freedom Bank, NVTC to seed $50K revolving loan fund for minority entrepreneurs
The Northern Virginia Technology Council (NVTC) and Fairfax-based Freedom Bank of Virginia announced Tuesday a $50,000 revolving loan fund for Northern Virginia entrepreneurs of color who have been affected by the pandemic. NVTC and Freedom Bank of Virginia will seed the NOVA Technology Loan Fund, a gap financing program to be administered by the Springfield-based […]
Va. Beach logistics company to create 31 jobs
Virginia Beach-based logistics company Regulus Global LLC will add 31 employees and lease an additional 12,000 square feet in the city, the Virginia Beach Department of Economic Development announced Tuesday. “For the last nine years Regulus Global has been a rapidly growing business, executing a medical, expeditionary and national security business worldwide,” Regulus Global CEO […][...]
$29.6M state grants to expand broadband in 11 localities
Nearly $30 million in Virginia Telecommunication Initiative (VATI) grants will be disbursed among five projects to expand broadband access in 11 localities in the Northern Neck, Southwest and Southern Virginia and Botetourt County, Gov. Ralph Northam announced Tuesday. The projects will connect more than 11,700 households, businesses and institutions to high-speed internet. VATI provides funding […][...]
Unemployment shows minimal improvement in Va., U.S.
Virginia’s seasonally adjusted unemployment rate rose by less than 1% between November 2020 and December 2020, according to the Virginia Employment Commission, and the commonwealth’s 4.9% December unemployment rate for December was 2.2% higher than in December 2019. Early predictions from Virginia Commonwealth University[...]
McLean contractor lands $87M Navy task order
McLean-based defense contractor Alion Science and Technology Corp. announced Monday it has received an $87 million task order to help the Naval Surface Warfare Center develop a vertical launching system and training equipment for the naval base in Port Hueneme, California. Under the potential five-year task order, Alion will perform research, development, test and evaluation […]
Washington Football Team is first NFL team to partner with sports betting company
The Ashburn-based Washington Football Team announced Monday a partnership with gaming company FanDuel Group to provide sports betting across the state. It’s the first NFL team to partner with an online sports bookmaker. Through the partnership, which was approved by the Virginia Lottery last week, FanDuel will serve as the operational partner for a betting […]
NYC investment firm acquires controlling interest in Reston tech startup
New York City-based Tracker Capital Management LLC announced Monday that one of its affiliates has acquired a controlling interest in Reston-based tech startup Presage Security. Financial terms of the transaction were not disclosed. Presage works to apply machine learning and advanced mathematical processing to video imagery analysis for health care, security and authenticity verification. “Tracker […][...]
Va. Beach-based company to acquire pet supply chain for $700M
Virginia Beach-based franchise business operator Franchise Group Inc. announced Monday it will acquire Livonia, Michigan-based Pet Supplies Plus for approximately $700 million. The all-cash transaction is expected to close in March. The Pet Supplies Plus retail chain was founded in 1988 and sells pet supplies and services at its more than 500 locations, almost 60% […]
UPS to sell Richmond-based freight biz for $800M
Atlanta-based United Parcel Service Inc. will sell its Richmond-based UPS Freight unit to Canadian logistics company TFI International Inc. for $800 million, the package delivery company announced Monday. UPS Freight provides less-than-truckload (LTL) shipments (used for small freight transportation) across all 50 states, Mexico[...]
CACI wins $48M FEMA contract
The Federal Emergency Management Agency awarded Arlington-based federal technology contractor CACI International Inc. a potential $48 million contract to work on the agency’s National Public Warning System (NPWS), according to a System for Award Management (SAM) notice. The NPWS disseminates information and warnings during national emergencies. CACI will construct, decommission, update and provide environmental and […][...]
Northrop Grumman lands $155M Missile Defense Agency contract
The Missile Defense Agency awarded a subsidiary of Falls Church-based Northrop Grumman Corp. a $155 million contract to work on space-based sensor technology for defending against hypersonic weapons, the Department of Defense announced Friday. Under the contract, Northrop Grumman Systems Corp. will perform on-orbit demonstration, launch and initial orbit testing work, according to the DOD. […][...]
