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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 […]
$125M pharma manufacturing plant coming to Petersburg
Utah-based pharmaceutical manufacturer Civica Inc. plans to invest $124.5 million to establish its North American manufacturing headquarters operation in Petersburg, creating 186 jobs and manufacturing injectable medicines for the treatment of COVID-19, the governor’s office announced Thursday. A nonprofit generic drug com[...]
Va. unemployment claims remain high, but new claims drop
Although the number of initial jobless claims filed last week dropped relative to the previous week, unemployment numbers remain high, according to figures released by the Virginia Employment Commission on Thursday. During the week ending Jan. 16, 21,073 Virginians filed initial claims, a 25.3% decline from the previous week, wh[...]
CACI International executive chairman dies at 83
Arlington-based federal technology contractor CACI International Inc. announced Wednesday the death of J. Philip “Jack” London, the company’s executive chairman, at age 83. He served as chairman, president and CEO of the company from 1984 to 2007 and as executive chairman since 2007. “All of us at CACI are deeply s[...]
Genworth notifies employees of job cuts
Henrico County-based Genworth Financial Inc. has notified some employees of job cuts, a company spokesperson confirmed Wednesday. The job cuts come on the heels of the company’s Jan. 4 announcement that its planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. Company spokesperson Julie Westermann declined to share the number […]
Transurban names new Va. exec
Jennifer Aument, president of Transurban’s Falls Church-based North American operations, will leave to become chief executive of AECOM’s global transportation business. Aument will be succeeded by Pierce Coffee, who currently serves as Transurban’s vice president of customer experience and operations, according[...]
New Hampton Roads bank raises $20M
Integrity Bank for Business, a new bank forming in Virginia Beach, has received signed subscription agreements for stock purchases totaling $20.285 million, it announced Tuesday. By Jan. 15, Integrity had received subscription agreements of $19.935 million by the closing date of the first phase of its stock offering; additional agreements of $350,000 were pending on […]
General Dynamics Information Technology lands $695M task order
Falls Church-based General Dynamics Information Technology Inc. (GDIT) announced Tuesday it has been awarded a $695 million U.S. Army Europe (USAREUR) Enterprise Mission Information Technology Services (EMITS) task order. Under the five-year task order, GDIT will deliver enterprise information technology, communications and miss[...]
Chase stripped of last committee assignment in Senate
A resolution to censure state Sen. Amanda Chase moved forward Tuesday, and the embattled Republican from Chesterfield County also was stripped of her last committee assignment, although not without objections. Chase left the Virginia Senate Republican Caucus in 2019 after Sen. Thomas K. Norment Jr., R-James City, was re-elected as the Senate party leader. At […]
Herndon franchise software firm buys Canadian tech platform
Herndon-based franchise management software company FranConnect announced Tuesday it has acquired Quebec, Canada-based FranchiseBlast. Financial terms of the transaction were not disclosed. The FranConnect platform assists with sales, operations and marketing for more than 800 brands worldwide. FranchiseBlast is a developer of a software platform for the franchise industry which works to streamline scheduling, performing, […][...]
Chantilly-based VTG acquires Fairfax’s Intelligent Shift
Chantilly-based engineering firm VTG announced Jan. 13 it has acquired Fairfax-based tech company Intelligent Shift. Financial terms of the transaction were not disclosed. VTG provides services for naval, aerospace and digital projects, while Intelligent Shift develops technology for U.S. intelligence organizations. The transaction will strengthen VTG’s systems, software and digital engineering capabilities, according to a [&helli[...]
