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General Dynamics business unit wins $42.6M contract modification
The U.S. Navy awarded Fairfax-based General Dynamics Mission Systems a $42.6 million contract modification to continue work on sustaining integrated combat management systems and associated platforms used by the branch’s littoral combat ships, the Department of Defense announced Wednesday. General Dynamics Mission Systems is a business unit of Reston-based defense contractor General Dynamics Corp. Under […][...]
Herndon data center development company acquired by Stockholm firm
Herndon-based data center development company EdgeConneX announced Thursday the closing of its acquisition by Stockholm-based EQT Infrastructure from an investor group led by Providence Equity Partners. Financial terms of the deal were not disclosed. The companies received regulatory approval for the definitive agreement that was first announced Aug. 19. The acquisition by EQT Infrastructure will […][...]
2020 Virginia Business Political Roundtable
On Nov. 4, Virginia Business magazine held our 14th annual Political Roundtable event, sponsored by Cox Communications. Virginia Business Editor Richard Foster moderated a virtual discussion with a panel of five statewide political experts, who debated the latest developments in the November presidential election and what it mea[...]
Trustar Bank announces first acquisition
Great Falls-based Trustar Bank announced its first-ever acquisition Wednesday, taking control of Fairfax-based Granite Mortgage LLC. The acquisition will add Granite Mortgage’s full-service mortgage business line to Trustar’s (founded in 2019) banking services. Granite Mortgage will become a wholly owned subsidiary of Trustar, the first bank to be chartered and opened in Virginia in more […][...]
Initial jobless claims dropped 16.2% last week
The number of initial jobless claims in Virginia dropped by 16.2% last week, the Virginia Employment Commission reported Thursday, and the number of continued claims was three-quarters lower than its May 16 filing week peak. For the week ending Oct. 31, 10,350 Virginians filed initial claims for unemployment, a decrease of 2,002 from the previous […]
Newport News company lands $441.58M Navy contract
The U.S. Navy awarded Newport News-based Airborne Tactical Advantage Co. (ATAC) a potential five-year, $441.58 million contract to provide subsonic and supersonic aircraft for the branch’s fleet training operations, the U.S. Department of Defense announced Wednesday. Under the contract, ATAC will supply Type IV supersonic (which exceed the speed of sound) and Type III high […]
DynCorp wins $352M contract to support California wildfire control
The California Department of Forestry and Fire Protection (CAL FIRE) awarded McLean-based DynCorp International a potential five-year, $352 million contract to provide depot-level aircraft maintenance services to support the department’s wildfire control operations, the company announced Thursday. Under the contract, DynCo[...]
SAIC claims spot on $620M USDA blanket purchase agreement
The U.S. Department of Agriculture awarded Reston-based Fortune 500 defense contractor Science Applications International Corp. (SAIC) a position on the department’s potential five-year, $620 million Farm Production and Conservation (FPAC) multiple-award blanket purchase agreement (BPA), SAIC announced Wednesday. Under the BPA, SAIC will compete for USDA task orders for IT support services for the development, […][...]
Neustar to acquire DNS service
Sterling-based identity management company Neustar has agreed to acquire Verisign Public DNS, a free domain name system, from Reston-based Verisign. The DNS is essentially a phone book of the internet, translating domain names into internet protocol addresses, allowing browsers to access internet resources. The acquired service provides security and threat blocking on the internet. The […]
Hotel revenues stay low as pandemic enters eighth month
Moving into the eighth month of the pandemic, Virginia hotel revenues continue to decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 25 through Oct. 31, hotel revenues in Virginia decreased by 45% […]
Richmond braces for election impact
RICHMOND, Va. — Organizations and residents in Richmond are bracing for potential activity related to the U.S. presidential election results. Richmond city officials said they will work with local and state partners to ensure public safety during and after the election. “We encourage all residents to peacefully participa[...]
Va. candidates and groups drop $12M+ on Facebook ad spending
RICHMOND, Va. — In an election forecasted to have record voter turnout, political campaigns have deployed a multiplatform media blitz. Facebook is for more than likes these days, with the platform getting its share of Virginia political and issue spending to the tune of over $12.7 million in a recent three-month period, according to the […]
