Industries

For the Record - Northern Virginia

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BAE Systems Technology Solutions & Services Inc., of Arlington, and SAIC Inc., of McLean, received a five-year, $698.5 million contract from the Navy for engineering, prototyping integration and technical support services on C41 tactical vehicles and related systems. The work will be done in Charleston, S.C., and may continue through February 2017. (Washington Technology)  

Berico Technologies LLC, a data analysis firm based in Arlington, moved its headquarters to Reston. The move was done to facilitate growth in the company’s staff, as well as to accommodate a trend among government agencies requiring contractors to do most of their work at their own offices, rather than on-site. (Washington Business Journal) 

Capital One Financial Corp., a McLean-based financial services company, announced the sale of $1.25 billion in stock in a secondary offering of about 23.9 million shares. The proceeds are intended to help pay for Capital One’s purchase of HSBC’s U.S. credit card operations. (Washington Business Journal) 

Carrell Blanton Garrett & Van Horn, a Richmond law firm, opened an office in Fredericksburg to better serve a growing client base in the Northern Virginia area. (News release) 

Interstate Hotels & Resorts, a hotel management company based in Arlington, signed deals to manage the 850-room DoubleTree by Hilton Shanghai-Pudong and the 514-room Shanghai JC Mandarin Hotel. The agreements mark the second and third facilities managed by Interstate in China. (Business Wire, Washington Business Journal) 

ManTech International Corp., a Fairfax technology company, bought HBGary Inc., of Sacramento, Calif., a producer of software to detect and diagnose threats and malware. The deal fits ManTech’s plans to enhance its position in the growing sector of cyber security. (CityBizList) 

MCG Capital Corp., of Arlington, will cut its work force of 37 to 20 to 25 by year’s end. The cuts come as the company moves to return its lending operations to profitability. The company reported investment losses of $56.4 million in the fourth quarter of 2011. Most of the write-down came from losses in three investments: Jet Plastica Investors LLC, Broadview Networks Holdings Inc. and Jenzabar Inc. (Washington Business Journal) 

Neustar Inc., a Sterling-based provider of real-time information and analysis, resumed a share repurchase program it began in July 2010 to buy back $300 million in Class A common shares. The authorized amount of repurchase was approximately $185.2 million in early March. (Business Wire) 

Oblon, Spivak, McClelland, Maier & Neustadt, LLP, an Alexandria intellectual property law firm, was rated the top U.S. patent firm in the country for the 22nd year, according to IP Today magazine. The firm obtained 5,686 U.S. utility patents issued in 2011, 2,067 more than the second-place firm. (News release) 

 

 


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