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GTT Communications files for Chapter 11 bankruptcy
McLean-based telecommunications company GTT Communications Inc. announced this week that the company and some subsidiaries had filed prepackaged Chapter 11 cases. The close of GTT’s estimated $2.15 billion sale of its infrastructure division to Miami-based I Squared Capital on Sept. 16 allowed GTT to move forward on its bankruptcy cases, which it and some subsidiaries […]
Henrico’s Essex Bank to lay off 51 employees in merger
The Henrico County-based parent company of Essex Bank will lay off 51 employees as a result of its merger with Charleston, West Virginia-based United Bankshares Inc., the parent company of United Bank. The company filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Friday, Oct. 29, notifying them […]
Blue Ridge Bank, FVCbank merger delayed
The merger of Charlottesville-based Blue Ridge Bankshares Inc., the parent company of Blue Ridge Bank, and Fairfax-based FVC Bankcorp Inc., the parent company of FVCbank, will be delayed, the companies announced this week. The two regional companies announced the merger, which would create a $5 billion combined company, on July 14. The expected closing at […]
Fairfax-based ICF acquires health care data management company
Fairfax-based management consulting firm ICF International Inc. has acquired Rockville, Maryland-based data management and health care information technology provider ESAC Inc., or Enterprise Science and Computing, the company announced Tuesday. Financial details of the transaction were not disclosed. Founded in 2006, ESAC’s 40-person team works on data coordination centers, big data integration and visualization, algorithm [&hell[...]
CMA CGM Group to acquire 90% stake in Los Angeles terminal
French shipping company CMA CGM Group, whose U.S. headquarters are in Norfolk, announced Wednesday that it has signed an agreement to acquire a 90% stake in the Fenix Marine Services (FMS) terminal in Los Angeles, based on an enterprise value of $2.3 billion. CMA CGM is funding the $1.8 billion acquisition from its own funds. [&[...]
Richmond casino rejected by voters
Updated 4:20 p.m. Wednesday Richmond voters on Tuesday rejected the proposed $565 million ONE Casino + Resort by about a 1,200-vote margin. The project’s developer, Silver Spring, Maryland-based media company Urban One Inc., acknowledged the referendum’s defeat in a statement Wednesday, as did the city’s mayor.[...]
Leidos wins $531M Air Force task order
Reston-based Fortune 500 government contractor Leidos Holdings Inc. won a potentially $531 million task order from the Air Combat Command (ACC) Acquisition Management and Integration Center (AMIC), the company announced Monday. Under the single-award, firm-fixed price task order, Leidos will support ACC intelligence, surveillance and reconnaissance (ISR) operations, providing subject matter expertise, mitigation support, intelligence [&[...]
Blackboard completes merger with Fla. company
Reston-based education technology company Blackboard Inc. and Boca Raton, Florida-based Anthology Inc. higher education software company announced Oct. 25 that they had completed their merger. Financial details of the transaction were not disclosed. Anthology will be the parent company of the combined organization, with the Blackboard name remaining as a brand. Anthology has more than […]
Shaun McConnon donates $15M to Roanoke College
Roanoke College has received a $15 million donation, the single largest cash gift in the school’s 179-year history, college president Michael Maxey announced Thursday to the board of trustees. College alumnus Shaun McConnon, former CEO of Massachusetts-based cybersecurity company BitSight Technologies, donated the money fo[...]
Northrop Grumman wins $109M Air Force contract modification
Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. received a $108.8 million U.S. Air Force contract modification, the U.S. Department of Defense announced Friday. Under the contract, Northrop Grumman provides sustainment for the RQ-4 Global Hawk, a high-altitude, long-endurance, unmanned aircraft. The modification provides for a second year of contractor logistics support […][...]
Hampton nonprofit wins potential $126M Navy contract
Hampton-based nonprofit VersAbility Resources Inc. won a U.S. Navy contract potentially worth $126.14 million, the U.S. Department of Defense announced Friday. The $10.5 million indefinite delivery, indefinite quantity contract has a five-month base period with four one-year options and six-month extension option. VersAbility Resources will assist Naval Supply Systems Command with shipboard maintenance parts, providing […][...]
Va. Catalyst awards $1.9 million in grants
The Virginia Catalyst, also known as the Virginia Biosciences Health Research Corp., has awarded $1.9 million in grants to three life and bioscience projects, it announced Thursday. Partner companies will meet the grants with matching funds. “We are excited to continue our mission of supporting collaborations and fostering economic growth in Virginia’s life sciences, enabling […]
