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Atlantic Broadband announces $7.2 million partnership
State grant will help expand broadband in four counties
Atlantic Broadband has announced a $7.2 million partnership to deliver broadband to more than 1,200 homes and businesses in Caroline, Mathews, Lancaster and Middlesex counties. A $4.2 million grant from the Virginia Telecommunication Initiative pays for the bulk of the project, with $1.5 million coming from Atlantic Broadband and the remaining $1.5 contributed by the
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Leidos completes $380M Gibbs & Cox acquisition
Gibbs & Cox's specialties include naval architecture, marine engineering
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Reston-based Fortune 500 government contractor Leidos has completed its $380 million, all-cash acquisition of Arlington-based engineering and design firm Gibbs & Cox, Leidos announced Friday. Gibbs & Cox, which specializes in naval architecture, marine engineering, management support and engineering consulting, has offices throughout the United States and Australia. It will operate as a wholly-owned Leidos
Axios-Athletic merger gets axed
Arlington-based Axios is daily news site with podcasts, HBO show
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A proposed merger between Arlington-based digital news company Axios Media Inc. and San Francisco-based sports media firm the Athletic is no longer going forward, according to a May 6 report from The Wall Street Journal. The Journal had previously reported that the companies had been exploring merging and going public through through a special purpose
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Parsons lands $618M GSA contract
Centreville-based defense contractor also posts first-quarter results
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Centreville-based Parsons Corp. has won a $618 million contract with the U.S. General Services Administration, it announced this week, bringing the company’s total contracts won since the end of the first quarter to approximately $1 billion. The new contract covers professional services that advance the intelligence community’s global cyber and intelligence technologies for C5ISR, the
UPDATED: Peraton completes $7.1B Perspecta acquisition
Perspecta shareholders sealed deal on May 6
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UPDATED MAY 7, 8:20 A.M. Herndon-based national security contractor Peraton Inc. completed its $7.1 billion, all-cash acquisition of Chantilly-based federal IT contractor Perspecta Inc. on Thursday, according to a news release from Peraton’s parent company, New York-based private investment firm Veritas Capital. The combined companies will be known as Peraton and will be overseen by
Va. sees 67% drop in weekly jobless claims
Decline comes after 171% increase reported previous week
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The state’s number of initial unemployment claims continues to fluctuate wildly, with only 12,231 Virginians submitting new jobless claims for the week ending May 1, a drop of 25,125 claims from the previous week, the Virginia Employment Commission reported Thursday. For the April 26-May 1 filing week, the state saw a 67.2% decline in new
Serco completes $295M acquisition of Reston contractor
Herndon federal contractor acquires Whitney, Bradley & Brown
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Herndon-based federal contractor Serco Inc. (a subsidiary of United Kingdom-based Serco Group plc) has completed its $295 million acquisition of Reston-based Whitney, Bradley & Brown (WBB) from an affiliate of Florida-based private equity firm H.I.G. Capital. The acquisition strengthens Serco’s program management services for its Department of Defense clients and enriches the company’s expertise in
Business bank opens in Virginia Beach
Integrity Bank for Business is Hampton Roads' first new community bank since 1998
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Integrity Bank for Business opened for business May 3 in Virginia Beach, led by former Heritage Bank President and CEO Michael S. Ives. The first new community bank established in Hampton Roads since 1998, it received regulatory approval last month. In January it announced that it raised more than $20 million in stock purchase commitments.
Arlington-based Higher Logic acquires Montreal’s Vanilla
Tech firms offer community engagement platforms
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Arlington-based tech company Higher Logic has acquired Canadian cloud-based community software company Vanilla. Vanilla was owned by New York-based growth equity investment firm Level Equity. Financial details of the acquisition were not disclosed. Founded in 2007, Higher Logic offers a community engagement software platform aimed at associations and the corporate B2B market. With the acquisition
Seeking growth, GPM enters into agreement with Chicago real estate firm
Richmond-based GPM is nation's seventh-largest convenience store chain
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Richmond-based GPM Investments LLC, the nation’s seventh-largest convenience store chain, announced Tuesday that it has entered into a one-year agreement with Chicago-based Oak Street Real Estate Capital, which is committing up to $1 billion to purchase and lease to GPM real estate parcels associated with GPM’s acquisitions of convenience store chains and fueling stations. A