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Norfolk medical device firm receives additional $2.5M from DARPA
The Defense Advanced Research Projects Agency (DARPA) has awarded $2.5 million in non-dilutive funding to Norfolk-based medical device manufacturer Embody Inc. for the second phase of development and clinical assessment for its proprietary Microbrace ACL technology for the repair of anterior cruciate ligament (ACL) injuries, the company announced Tuesday. Embody previously received $11.85 million for […][...]
Harrisonburg retail center sells for $5.275M
A retail center in Harrisonburg adjacent to James Madison University has sold for $5.275 million, Harrisonburg-based commercial real estate brokerage Cottonwood Commercial announced Tuesday. Tenants at the 11,900-square-foot retail strip on University Avenue include Buffalo Wild Wings, BurgerIM, Sports Nutrition and Dunkin’. T[...]
Fairfax-based ICF to acquire cloud services provider for $255M
Fairfax-based consulting and technology services provider ICF International Inc. plans to acquire Arlington-based cloud services provider Incentive Technology Group LLC (ITG) for $255 million, ICF announced Tuesday. The closing of the transaction is subject to approval and is expected to occur in the first quarter. “IT modernization and cloud together is estimated to be approximately […][...]
CoreMedia AG appoints chief revenue officer
Content management systems developer CoreMedia AG has promoted Jim Stirewalt to chief revenue officer, the company announced Monday. Stirewalt most recently was CoreMedia’s senior vice president and general manager of the Americas. He has also held leadership roles at software companies including SAP and IBM. Stirewalt will ma[...]
State General Fund revenues increased 7.6% in December
Total state General Fund revenues rose 7.6% in December with help from growth in payroll withholding, sales and use taxes and recordation tax collections, Gov. Ralph Northam announced Monday. “This continued strong revenue performance gives us confidence that we can achieve the forward-looking agenda I have laid out, while also putting money into our cash […]
Samsung Electronics acquires Chantilly tech firm
Samsung Electronics has acquired Chantilly-based network services provider TeleWorld Solutions (TWS), Samsung announced Monday. Financial terms of the deal were not disclosed. TWS, a privately-owned company, will operate as a wholly-owned subsidiary of Samsung Electronics America Inc. Samsung will continue to offer TWS services such as network design, installation, testing and optimization. TWS leadership will […][...]
CoStar plans doubling Richmond workforce as part of Navy Hill development
CoStar Group, the Washington, D.C.-based commercial real estate analysis company, announced Monday it plans to build a 400,000-square-foot building in downtown Richmond, doubling its local workforce, as part of the proposed $1.5 billion Navy Hill development. CoStar would double its number of employees to 2,000 in Richmond, wher[...]
Truist’s new branding reflects BB&T and SunTrust merger
Truist Financial Corp. has unveiled a new logo and other branding following the completion of the December 2019 merger of Branch Banking and Trust Co. (BB&T) and SunTrust Banks Inc. “Our visual brand identity speaks to the importance of human touch and dynamic technology in delivering trusted solutions to our clients,&[...]
Pamunkey tribe, city sign Norfolk casino agreements
The city of Norfolk and the Pamunkey Indian Tribe announced Monday that the tribe’s proposed $700 million casino along the Elizabeth River is moving closer to reality. According to a tribe press release Monday, the Pamunkey and the city have signed two agreements: an option to purchase 13.4 acres of undeveloped city property a[...]
Henrico office building sells for $6.3M
A Henrico County office building, the Campbell Building, sold for $6.3 million to Atlanta-based B&C CCPB LLC, Canada-based real estate company Colliers International announced Monday. The 55,920-square-foot class B office building is located at 8002 Discovery Drive in the Forest Avenue office corridor. HCA Healthcare’s[...]
SAIC nets $727M Air Force contract
Reston-based information technology company Science Applications International Corp. (SAIC) received a $727 million contract from the U.S. Air Force that will move mission applications for the Air Force and Army to the cloud, SAIC announced Friday. SAIC was founded in 2013 and provides systems engineering, cloud migration, analytics, simulation, training and other IT services to […]
Reston-based Ellucian names chief product officer
Reston-based higher education software company Ellucian has named Stephen Laster as its chief product officer, the company announced Friday. Ellucian provides products for higher education such as student information systems, data analytics tools and graduation-tracking platforms for more than 2,700 customers. Laster will lead p[...]
