For the Record: Northern Virginia

December 2010

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Chess Consulting Inc., a provider of complex accounting and regulatory compliance services, completed a management buyout from Marsh & McLennan Cos. Inc. Before its acquisition by Marsh, Chess had been a unit of Kroll Inc. (Business Wire)

George Mason University will partner with Leesburg to open the Leesburg Business Incubator. The center will provide support services to small businesses in the early stages of development. . (News release)

LightSquared, a Reston-based wholesale-only provider of wireless broadband and satellite network services, secured $850 million in financing, led by UBS AG. The proceeds, which boost its equity, debt and commitments to $2 billion, will be used for general corporate purposes, including construction of its 46-LTE-wholesale network. (News release)

SRA International Inc., a Fairfax technology company, bought Platinum Solutions Inc. of Reston, a provider of systems integration solutions. The deal is expected to enhance SRA’s presence in the government market through Platinum’s systems development experience. (Business Wire)

Sunrise Senior Living Inc., a McLean-based owner and manager of senior living facilities, sold its interest in 58 joint operations to its partner Ventas Inc. for $41.5 million. Sunrise will continue to provide management services to those communities, as well as another 21 wholly owned by Ventas.  (PRNewswire)

Virginia Commerce Bancorp Inc., made deals for direct placement of $10 million in common stock at $5.25 per share. The company will issue just over 1.9 million shares to institutional investors. (Business Wire)

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