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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 positio[...]
Tysons tech company buys Md.-based cybersecurity firm
Tysons-based tech company Applied Insight announced Wednesday it has acquired Hanover, Maryland-based cybersecurity firm Bridges Inc. Financial terms of the transaction were not disclosed. Applied Insight is backed by private equity firm The Acacia Group and provides cloud, data and cyber services to federal government customers. Bridges also provides network security and analytics services using […][...]
MicroStrategy ups the ante on bitcoin investment
Tysons-based business software company MicroStrategy Inc. is going all in on its bitcoin strategy: The company announced Wednesday it would raise $900 million from a convertible senior notes offering set to close on Friday. On Tuesday, the company announced a $600 million offering, which it upped to $900 million on Wednesday. Proceeds from the offering […]
Northrop Grumman passes early stage of $85B Air Force ICBM contract
Falls Church-based Fortune 500 defense contractor Northrop Grumman Corp. announced Tuesday it underwent the first major design review — a key baseline — for the Air Force’s $85 billion Ground-Based Strategic Deterrent (GBSD) contract. In September 2020, Northrop Grumman announced the Air Force had awarded it the first [...]
Toronto acquisition firm buys Richmond software company
Volaris Group, a Toronto-based buyer and operator of vertical market software companies, announced last week it has acquired Richmond-based educational software company SoftChalk LLC. Financial terms of the transaction were not disclosed. Using the SoftChalk platform, instructors can develop custom course materials and interactive content, including quizzes and annotated text. “The team at Volaris shares […][...]
Virginia Rent Relief Program receiving extra $524M
Landlords and tenants have additional rental assistance on the way. On Tuesday, Gov. Ralph Northam announced that $524 million in federal funding will go toward the Virginia Rent Relief Program (RRP), funded through the Emergency Rental Assistance program. “RRP is based on a unique, collaborative partnership between tenants and landlords to ensure both remain whole […]
Manufacturer announces $10.7M expansion in Montgomery County
Motion control product manufacturer Moog Inc. will invest $10.7 million to transfer existing jobs and equipment from its Blacksburg facilities to a larger building in Montgomery County, Gov. Ralph Northam announced Tuesday. The investment will also create 75 jobs. Founded more than 65 years ago, East Aurora, New York-based Moog Inc. designs, manufactures and integrates […]
PenFed expands partnership with The Washington Justice
Tysons-based PenFed Credit Union announced Tuesday it is expanding its partnership with The Washington Justice, the professional esports Overwatch League for the Virginia, Maryland and Washington, D.C., area, into a three-year sponsorship. PenFed, which is one of the nation’s largest federal credit unions, will be featured[...]
SCHEV releases updated goals for higher ed in Va.
The State Council of Higher Education (SCHEV) on Tuesday released an updated statewide strategic plan, which focuses on making higher education more “equitable, affordable and transformative.” The Pathways to Opportunity: The Virginia Plan for Higher Education (The Plan) is reviewed every six years. “The events of 2020[...]
McLean satellite operator eyes Chapter 11 emergence
McLean-based satellite operator Intelsat Corp. announced Friday it has the support of creditors to financially restructure under Chapter 11 bankruptcy, which would decrease the company’s debt from nearly $15 billion to $7 billion. “Today’s filings and the significant consensus already achieved on the plan pave the way for the company’s emergence from the Chapter 11 […]
