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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. […][...]
Va. saw 10.8% increase in home sales in 2020
Virginia saw a 10.8% increase in the number of homes sold during 2020 compared with the year before, according to a report released by Virginia Realtors. It marks the fastest growth in annual sales seen in Virginia in more than five years. During 2020, 139,908 homes sold in Virginia, compared with 126,305 homes sold in […]
Northrop Grumman lands potential $3.6B Air Force contract
The U.S. Air Force awarded Falls Church-based Northrop Grumman Corp. a potential five-year $3.6 billion contract for work on the branch’s airborne communications relay system, the Department of Defense announced Thursday. Under the contract, Northrop Grumman will perform research, development, testing, evaluation, integration, operations and sustainment services for the branch’s Battlefield Airborne Communications Node (BACN). [&h[...]
Former PBMares CEO named 2021 Chamber board chair
The Virginia Chamber of Commerce on Friday elected Alan Witt, former CEO of Newport News-based accounting and consulting firm PBMares LLP, to serve as its 2021 chair of the board of directors. He succeeds 2020 Chair Paige Clay, a senior partner with Mercer. Witt has been a Virginia Chamber of Commerce board member since 2016 [&h[...]
Norfolk communications equipment manufacturer to create 68 jobs
A $6.5 million expansion by Norfolk-based Tabet Manufacturing Co. will create 68 jobs in the region, Gov. Ralph Northam announced Friday. The communications equipment manufacturer will expand its operations by constructing a new manufacturing facility next to its current location at 1336 Ballentine Blvd. Tabet was founded more than 60 years ago and developed the […]
At 10-year mark, CarLotz goes public
Nearing its 10-year anniversary, CarLotz, a used-cars consignment company founded in Chesterfield County, went public on Friday. In October 2020, CarLotz first announced it would merge with special purpose acquisition company Miami-based Acamar Partners Acquisition Corp. — a deal that was approved by stockholders Jan. 8 and cl[...]
Shareholders approve Blue Ridge, Bay Banks merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to […]
