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HII division to boost intel sharing for Five Eyes alliance
Huntington Ingalls Industries’ McLean-based Mission Technologies division has received a three-year contract to provide information sharing capabilities between the Five Eyes intelligence alliance. Newport News-based HII announced the award Nov. 21; information about the award was not disclosed. The Pegasus contract is administrated by the Secretary of the Air Force’s Concept, Development and Management Mission […][...]
Electra’s hybrid prototype aircraft takes first flight
This story was updated Dec. 1. A Manassas aircraft manufacturer that’s developing an electric short takeoff and landing (eSTOL) aircraft logged a significant milestone Nov. 19 when it completed its first hybrid-electric flight. Electra’s EL-2 Goldfinch took off from Manassas Regional Airport and flew 23 minutes, reac[...]
Bonaventure acquires Norfolk apartments for $42M
Alexandria-based real estate company Bonaventure has acquired Monticello Station, a Class A apartment building in downtown Norfolk, for $42 million, the company announced last week. The 121-unit building at 328 Freemason St. has one-, two- and three-bedroom apartments. S.L. Nusbaum previously owned the property, according to B[...]
Amazon HQ2 impact on housing market short-lived, report says
The June opening of Amazon.com’s $2.5 billion East Coast headquarters in Arlington County only had a short-lived impact on home prices, and it’s hard to pinpoint HQ2’s direct impact due to other factors affecting residential costs, according to a report released this month by Bright MLS Research. When Amazon announced [...]
‘Smokeless’ Snoop Dogg ad is Martin Agency creation
Known as much for his love of weed as for his music, celebrity rapper Snoop Dogg posted Thursday on X that he was “giving up smoke,” an announcement that raised eyebrows among some fans, while others figured it must be a marketing ploy. To be blunt, it was the latter, and Richmond’s The Martin Agency […]
Trader Interactive CEO Lori Stacy to retire
Trader Interactive CEO Lori Stacy will retire Dec. 14 and Chief Operating Officer David McMinn will succeed her in leading the Virginia Beach-based online marketplace for boats, recreational vehicles, motorcycles and other niche vehicles. Stacy, who has served as CEO since 2017, will take on the new position of chair of Trader I[...]
Private equity firm completes buy of Herndon’s Exostar
Arlington Capital Partners has completed its acquisition of Herndon-based cybersecurity company Exostar, the Chevy Chase, Maryland-based private equity firm announced Monday. The deal was announced in September, and financial terms were not disclosed. It comes a little more than three years after Exostar was acquired by Chicago-[...]
International logistics company to expand in Norfolk
Katoen Natie Norfolk, a subsidiary of Belgian international logistics service provider and port operator Katoen Natie, will invest $59.9 million to expand its Norfolk facility and create an estimated 76 jobs. Katoen Natie Norfolk will add a 450,000-square-foot warehouse and rail yard, and expand its existing rail spur, which will allow more room to load […]
Richmond to host 2026 national speech and debate tournament
The Richmond region will host a June 2026 national speech and debate tournament that’s expected to bring 10,000 students and visitors to the region. The National Speech & Debate Association, Richmond Region Tourism and the nonprofit Richmond Forum made the announcement Monday. “I know this will be one of the best tou[...]
Va. Beach digital solutions company to add 300+ jobs
Virginia Beach-based Doma Technologies, a software company founded in 2000, will invest $3.7 million to expand in the city, adding about 307 jobs in the next three years and bringing its total to about 500 employees, Gov. Glenn Youngkin announced Thursday. The expansion will include a new 69,000-square-foot facility. Doma is currently located along London […]
Mars to acquire British chocolatier for $662M
A subsidiary of McLean-based international candy and pet food manufacturer Mars, the largest privately held company in Virginia, has agreed to acquire Britain’s Hotel Chocolat for $662 million, Mars announced Thursday. Bidco, a wholly-owned subsidiary of Mars, will acquire Britain’s largest chocolate maker in a cash offer at[...]
Carpenter to acquire N.C. foam manufacturer
Richmond-based polyurethane foam manufacturer Carpenter has signed an agreement to acquire North Carolina-based NCFI Polyurethanes’ Consumer Products division, the company announced Wednesday. Carpenter declined to disclose financial terms of the transaction. The NCFI division has about 150 employees, who will join Carpenter�[...]
