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Parsons to acquire N.J. software company
Centreville-based Fortune 1000 defense contractor Parsons Corp. has entered into an agreement to acquire IPKeys Power Partners Inc., a New Jersey provider of enterprise software platform solutions, the company announced Tuesday. The $43 million acquisition is expected to close in the second quarter. IPKeys Power Partners deliver[...]
Metallica acquires Alexandria records maker
Master of puppets — and now master of vinyl record production, legendary heavy metal band Metallica has acquired a majority interest in Alexandria-based vinyl records maker Furnace Record Pressing. Financial terms of the transaction, which the two entities announced Tuesday, were not disclosed. “We couldn’t be more hap[...]
Cvent to be acquired in $4.6B deal
Tysons-based meetings and events software company Cvent Holding Corp. has agreed to be acquired by New York-based private equity firm Blackstone in a deal valued at about $4.6 billion, the company announced Tuesday. Under the agreement, Cvent stockholders will receive $8.50 per share in cash, representing a premium of 52% to the[...]
Va. bankers say they’re not worried by SVB collapse
Last weekend was pretty tense for bankers, even for those leading institutions quite distant and different from Silicon Valley Bank, which Friday became the second largest bank to fail in U.S. history. Federal regulators shut down SVB after a run on the bank. By Sunday, regulators also shut down New York’s Signature Bank, [...]
River District Association gives leader a title upgrade
Diana L. Schwartz’s title is changing from executive director to CEO of the River District Association, the Danville downtown revitalization association announced Monday. The title more accurately reflects her role, according to an RDA news release. It has shifted from creating and managing programs for the downtown busine[...]
Ship repair contractor expanding Norfolk presence
Advanced Integrated Technologies (AIT), a ship repair contractor for the Navy, Coast Guard, Military Sealift Command and U.S. marine, industrial and commercial industries, will invest $500,000 to expand its Norfolk operations and add 76 jobs, Gov. Glenn Youngkin announced Friday. The Norfolk-based company will increase capacity at its location in Norfolk Industrial Park, off Ingleside […]
Lingerfelt buys Chesterfield land to build luxury apartments
Glen Allen-based Lingerfelt Development LLC, a real estate investment management firm, has purchased about 4.5 acres of land in Chesterfield County from Hospitality VII Inc. with plans to build a luxury apartment community. The land is located at 2407 W. Hundred Road in Chesterfield, between U.S. 1 and Interstate 95. The $1.9 mi[...]
Goodwill Industries of the Valleys names chief people officer
Roanoke-based Goodwill Industries of the Valleys has named Rachel Putman as its chief people officer. In her new role, which was effective Feb. 20, Putman will lead mission services and organizational development, which includes human resources, employee engagement and learning and development. Putman comes to Roanoke from Goodw[...]
UMW alumna gives $30M to support research, scholarships
A 1959 graduate of the University of Mary Washington has bequeathed $30 million to her alma mater — the largest donation in the Fredericksburg university’s 115-year history — to support undergraduate research and scholarships, UMW announced Thursday. Irene Piscopo Rodgers, who died in 2022, earned a bachelor’s de[...]
Apparel wholesaler plans $50M Hanover facility, 1K jobs
SanMar Corp., the United States’ largest supplier of wholesale printable accessories and apparel, will invest at least $50 million to establish distribution operations in Hanover County and create an expected 1,000 jobs, Gov. Glenn Youngkin announced Thursday. SanMar’s operations, planned to occupy a 1.1 million-squa[...]
Auto parts maker to establish North America HQ in Salem
German auto parts manufacturer STS Group AG will establish its North American headquarters in Salem, a $32 million investment expected to create 119 jobs, Gov. Glenn Youngkin announced Thursday. In April 2021, the company announced a greenfield project in Wythe County, but will now use an existing facility in Salem instead, R[...]
Feds say Chinese cranes used at Port of Va. could be spy tools
The Port of Virginia may have as many as 30 Chinese ship-to-shore cranes that have come under scrutiny from Pentagon officials over national security concerns, and the port has five more on delivery for next year. The cranes made by Shanghai Zhenhua Heavy Industries Co., known as ZPMC, a state-owned company whose major sharehold[...]
