January 2002
This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings please:

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For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293

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Mergers and Acquisitions
PEC Solutions Inc., a Fairfax County-based professional services firm, has acquired Troy Systems, a provider of information assurance solutions headquartered in Fairfax, for $15.3 million in cash and $3 million of PEC stock. (11/20/01, Business Wire)

Hadron Inc., an Alexandria-based contractor, acquired Florida-based engineering firm Analex Corp. for $6.5 million in cash and 3.6 million shares of restricted common stock. Hadron helps intelligence agencies test equipment used for classified missions. (11/01/01, The Washington Post)

Covington International Travel, a travel firm headquartered in Richmond, purchased the assets of May Travel/American Express of Richmond. Most of May's employees will join the Covington staff at its Innsbrook and James Center offices. (11/01/01, Press release)

Hilb, Rogal and Hamilton Co., a Richmond-based insurance broker, signed a merger agreement to acquire Coble-Cravens Insurance Agency Inc., an insurance agency headquartered in Dallas. (11/01/01, Press release)

EMotion Inc., a digital multimedia software firm headquartered in Vienna, acquired San Francisco-based AudioBasket.com, which provides technology for personalization of Web-based audio news and information, in an all-stock deal. (10/18/01, The Washington Post)

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Deals
VERSAR Inc., a professional services company headquartered in Springfield, and STERIS Corp., a Mentor, Ohio -based biotech firm, and entered into an alliance agreement to offer chemical and bioterrorism risk assessment, management and decontamination services. (11/02/01, PRNewsire)

Teleglobe, a Reston-based provider of global communications and Internet services, reached an agreement with BELNET, Belgium's national research and IP network, for a transatlantic direct communication between BELNET's facilities in Brussels and Teleglobe's facilities in New York. (10/23/01, Business Wire)

The Fairfax County Economic Development Authority selected a British company, Angle Technology of London, whose U.S. operations are headquartered in Herndon, to design and run Northern Virginia's first bioinformatics incubator. The incubator, scheduled to open early next year, will house between six and 10 start-up companies that specialize in hardware and software used to study the human genome and develop new drugs. (10/18/01, The Washington Post)

Virginia Tech and Wake Forest University will establish a joint school of biomedical engineering and science. The school will be operated jointly at the Blacksburg and Winston-Salem campuses. (10/16/01, Press release)

RightMinds, a Richmond-based advertising and marketing agency, will implement a new branding identity campaign for New Dominion Equipment Co., a mid-Atlantic material handling and storage company. (10/15/01, Press release)

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New Plants and Companies
Academy Funds, a North Carolina venture capital fund, plans to open a Virginia office at a site yet to be determined to augment its one-person Charlottesville office. (10/23/01, Potomac Tech Journal)

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Executive Promotions
J. Michael Kelly, COO, America Online Inc., the Dulles-based Internet unit of AOL Time Warner of New York. (11/02/01, The Washington Post)

C. Larry Pope, president, COO, Smithfield Foods Inc. (10/19/01, PRNewswire)

Anthony J. DeLuca, president, INTECS International Inc., the Alexandria-based information technology firm. (10/01/01, Press release)

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Contracts
RS Information Systems, a McLean-based provider of advanced technical business solutions, won a $15.3 million contract to provide scientific analysis of environmental data used by the National Weather Service's Climate Prediction Center . The data is used to develop long-term weather forecasts and predict climate changes. (11/01/01, Business Wire)

Northrop Grumman Corp., a Los Angeles firm with Northern Virginia operations, was selected by the U.S. Navy to provide services in support of electronic warfare and intelligence for the Naval Surface Warfare Center. The Northrop Grumman team includes Anteon Corp. of Fairfax, and Research and Development Solutions Inc. of McLean. Work on the program will be performed primarily in Hampton Roads. (11/01/01, PRNewswire)

Computer Sciences Corp., a technology firm headquartered in Falls Church, won a task order to provide computing, network services and other technology support to the National Library of Medicine for up to 10 years. The one-year base contract with nine option years is valued at $223 million if all options are exercised. (10/30/01, PRNewswire)

TRW Inc., a Cleveland-based technology firm with a presence in Reston, has been awarded a two-year, $86 million contract to provide test, evaluation and analysis support for the Joint Interoperability Test Command part of the Defense Information Systems Agency. The contract carries three options that, if exercised, could increase the contract value to $352 million over the next eight years. (10/30/01, PRNewswire)

Hayes, Seay, Mattern & Mattern, an architectural and engineering design firm headquartered in Roanoke, was selected to design a $100 million, 485,000-square-foot medium security Federal correctional institution with 1,152 beds in Bennettsville, S.C. (10/20/01, Press release)

SAVVIS Communications Corp., a Herndon-based global network services provider, secured a $200 million, five-year agreement with MoneyLine Network Inc. for networking services. (10/19/01, Business Wire)

MAXIMUS, a government services firm headquartered in Reston, won three contracts totaling more than $4 million from the state of Delaware to provide welfare-to-work services over the next two years. (10/19/01, Press release)

Raytheon Co., a Lexington, Mass.-based technology firm with operations in Reston, was awarded two contracts totaling $102 million by the Defense Threat Reduction Agency to provide services in the former Soviet Union as part of the Cooperative Threat Reduction program. A third DTRA contract is for more than $29 million. (10/18/01, PRNewswire)

General Dynamics, a defense contractor headquartered in Falls Church, said its subsidiary, National Steel and Shipbuilding Co. of San Diego, Calif., was awarded a $709 million contract by the U.S. Navy for design and construction of the first two ships in the T-AKE program, a new class of combat logistics force ships. Exercisable options by the Navy for 10 additional ships over the next six years have a potential contract value of $3.7 billion. (10/18/01, PRNewswire)

PEC Solutions Inc., a Fairfax professional services firm, was awarded numerous task orders by the U.S. Department of Treasury's Bureau of Alcohol, Tobacco and Firearms totaling $5.6 million to provide continued information technology development and maintenance services. (10/17/01, Business Wire)

Computer Sciences Corp., a technology firm headquartered in Falls Church, won two task orders under the Service Technology Alliance Resources program of the Immigration and Naturalization Service valued at a combined $47.9 million over a 28-month period to provide information technology support. (10/17/01, PRNewswire)

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Cutbacks and Closings
Richmond International Airport dismissed 20 employees--13 percent of its work force -- because of dropping revenues. (11/02/01, Richmond Times-Dispatch)

KPMG Consulting Inc., a McLean-based accounting firm, will reduce its workforce by 300 to 400 employees. The action affects about 3 percent of the company's worldwide workforce. (11/02/01, PRNewswire)

Dan River Inc., a textile firm headquartered in Danville, laid off 30 workers in its finishing division due to a lapse in business. The textile maker's cut-and-sew operations have also been cut back to a four-day workweek. (10/26/01, Danville Register & Bee)

Russell Stover, a Kansas City-based candy manufacturer, will close its Clarksville plant at the end of January with the loss of 700 jobs. (10/25/01, Danville Register & Bee)

Net2000 Communications Inc., a provider of broadband telecom services headquartered in Herndon, laid off 400 people and closed sales offices in the northeast states and refocused network operations in Washington, Baltimore, Virginia Beach and Richmond. (10/23/01, The Washington Post)

Advanced Switching Communications Inc., a Vienna-based provider of network access services, laid off about 50 of its 140 workers, to cut costs after a substantial drop in revenue. (10/16/01, The Washington Post)

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Divestitures
Klockner-Pentaplast of America Inc., a Gordonsville producer of rigid plastics owned by Klockner-Werke AG of Germany, has been sold for $827 million to Cinven, a European financial investment firm. A spokesman said no changes were expected in the company's management. (10/26/01, The Daily Progress)

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Expansions
Sands Anderson Marks & Miller, a Richmond law firm, has opened a Fredericksburg office and named Thomas L. Bricken, formerly of Bricken & Associates, as managing attorney. (11/02/01, Press release)

Susquehanna Media, a diversified media company, renamed and repositioned BlazeNet's Web Strategy and Development Division into Susquehanna Technologies (SusQtech). Based in Winchester, the company specializes in the rapid deployment of mission-critical eBusiness solutions. (10/23/01, Press release)

Alfa Laval Inc., an industrial manufacturing company, will move its U.S. headquarters to Richmond from Kenosha, Wis. The company has a plant in Henrico County's International Business Park. The decision follows a recent announcement to expand the plant and add 100 jobs. (10/20/01, Richmond Times-Dispatch)

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Real Estate
Buchanan Partners of Gaithersburg, Md., and Stone Hedge Investments of The Netherlands have purchased Lakeside I and II in Sterling with a total of about 200,000 square feet for $36.6 million. The purchase covers two of three buildings located at the Lakeside@Loudoun tech office complex on Route 7. (11/01/01, Press release)

Hewlett Packard Co. has leased 80,000 square feet of industrial space as a warehouse facility in Chesterfield County. Insignia Thalhimer handled lease negotiations for the tenant. (10/31/01, Press release)

Federal Express Corp. leased 24,242 square feet in Hampton for its Hampton Roads distribution facility. Insignia Thalhimer handled lease negotiations for the landlord, Suttle Holding Corp. (10/31/01, Press release)

The University of Virginia Research Park at North Fork is finalizing agreements to establish new research facilities for two biotech firms. Biotage Inc., a subsidiary of Dyax Corp., a Cambridge, Mass.-based biopharmaceutical company, acquired 7.1 acres for $750,000 to build a 50,000-square-foot facility. MDS Proteomics Inc., a subsidiary of MDS Inc., Canada's largest health and life sciences company, signed a five-year lease for 15,000 square feet of space in the research park's new Emerging Technology Center. (10/31/01, press release)

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Financing
InfoCruiser, an Arlington software company that delivers alternatives for scaling the performance of back-end systems, closed a Series B round of financing totaling $10.2 million for further product development and expansion of operations. Carlyle Venture Partners II led the financing. (10/29/01, Business Wire)

NEC Eluminant Technologies Inc. of Chantilly finalized agreements for $26 million in funding to support its strategy to become a market leader in fiber-based broadband access. ITOCHU Corp., lead investor in the Series A funding, will invest $18 million in eLUMINANT, launched in 1998 to develop a new generation of optical networking access equipment. (10/18/01, press release)

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