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Chicago company acquires Reston-based PagnatoKarp
Reston-based wealth management firm PagnatoKarp has been acquired by Chicago-based Cresset Asset Management, the companies announced Wednesday. A transaction amount was not disclosed, but with the acquisition of PagnatoKarp, Cresset now has $9.5 billion in assets under management. PagnatoKarp had $2.3 billion in assets under management prior to the acquisition. “PagnatoKarp was born during the Great […][...]
McLean-based Mars Inc. to change Uncle Ben’s rice brand
After weeks of racial inequity protests and the removals of Confederate monuments across the United States, McLean-based global food product manufacturer Mars Inc. announced Wednesday it is “evaluating all possibilities” for changing the branding on its Uncle Ben’s rice products. Uncle Ben’s has been branded wi[...]
Eastern Mennonite University president to serve second term
Eastern Mennonite University President Susan Schultz Huxman has been appointed to a second five-year term, the Harrisonburg-based private liberal arts university announced Tuesday. Huxman began her first term on Jan. 1, 2017. The university board of trustees unanimously approved the appointment, which will be effective Oct. 1 [...]
Allianz Partners names new CEO
Henrico County-based travel insurance company Allianz Partners announced Wednesday that Elena Edwards has been promoted to CEO of the German company’s United States business unit. The company employs approximately 1,000 people in the Richmond region. She succeeds Michael J. Nelson, who left the company for another travel i[...]
Va. Economic Developers Assoc. announces award recipients
The Virginia Economic Developers Association (VEDA) announced Tuesday the recipients of its 2020 Community Economic Development Awards (CEDA): the city of Harrisonburg for its Bricks & Clicks Initiative and a regional economic development collaboration among Pittsylvania County, Danville and the Southern Virginia Regional Al[...]
GO Virginia Region 3 names program director
Growth and Opportunity for Virginia’s Region 3 Council announced Tuesday it has named former Orange County Administrator Bryan David as program director for the region, which includes the cities of Danville and Martinsville. In his new role, David will lead the operations of the Region 3 GO Virginia Council in collaboratio[...]
Global law firm opens Tysons office
Atlanta-based global law firm King & Spalding LLP will open its 22nd office in Tysons, the Fairfax County Economic Development Authority (FCEDA) announced Tuesday. Founded more than 130 years ago, King & Spalding employs more than 1,100 lawyers across 22 offices in the United States, Europe, the Middle East and Asia. T[...]
Accenture Federal Services wins $341M federal contract
Accenture Federal Services (AFS), an Arlington-based subsidiary of Irish Fortune Global 500 company Accenture, announced Monday it has been awarded a $341 million U.S. Department of Commerce (DOC) contract to consolidate its business systems and data platform. Under the contract, AFS will move the DOC’s finance, acquisition, property, and enterprise data warehouse into a commercial […][...]
CIT invests in Alexandria agriculture software company
State government-backed venture fund CIT GAP Funds announced Monday it has invested in Alexandria-based software developer Agrology. An investment amount was not disclosed. Agrology’s software/hardware-as-a-service platform allows farmers to deploy sensors to track environmental factors that could affect crop yields. Its technology also allows farmers to apply optimal amounts of fertilizer and irrigation to certain […][...]
Activist hedge fund buys 5.9% stake in Perspecta
New York City-based activist hedge fund Jana Partners LLC has acquired 5.9% (9.4 million shares) of the stock of Chantilly-based government contractor Perspecta, according to U.S. Securities and Exchange Commission documentation. According to a Reuters report, Jana Partners is expected to encourage Perspecta to pursue a sale or merger. Jana intends to push Perspecta stock […]
McLean analytics company acquires Md. software firm
McLean-based analytics technology company Novetta Solutions LLC announced Monday it has acquired Annapolis Junction, Maryland-based software and analytics company WaveStrike LLC. The financial details of the transaction that closed on June 10 were not disclosed. “Combining our complementary capabilities and talented teams mean stronger support for our customers,” Novetta President and CEO Tiffanny Gates said […][...]
Calif. tech firm’s $12.4M Va. relocation will create 700 jobs
Calabasas, California-based tech and professional services company ASGN Inc. will invest $12.4 million to move its corporate headquarters and operations to Virginia, creating a total of 700 jobs, Gov. Ralph Northam announced Monday. “The creation of 700 new jobs is critical as we work to rebuild and strengthen our economy from the impacts of COVID-19,” […]
