| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Click here for a free subscription To update subscriber information click here. |
In This Issue... Expansions, Relocations & Launches, Who's Hot, Who's Not, Who's Winning Business, Deal Makers, Innovations, R&D / Intellectual Property, People, Trends, Other News, Commentary, Events, Click here to forward to a friend or colleague who might like this newsletter. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Wavecrest Selects Thailand for "Center of Excellence" DULLES--WaveCrest Laboratories, a developer of energy-efficient electronic propulsion systems, has selected Thailand as its "Center of Excellence" in Asia. The company will partner with businesses, government ministries, and academic and research institutions in Thailand to develop, manufacture and market advanced electric propulsion and drive systems. The collaborative effort will create technologies-motor components, rechargeable batteries, software controls--for improving energy efficiency and reducing pollution in markets around the world. Said CEO Roy: "It will not simply be 'outsourcing' what exists now, but rather a collaboration of many enterprises to continue developing new and better technology solutions." WaveCrest hopes to integrate its technologies into autos, trucks, bicycles, scooters, pumps, generators and even military products. More. Designer Wood to Invest $4.2 Million in Russell County LEBANON--Designer Wood Tile & Finishing Inc. will invest $4.2 million to open a pre-finished hardwood flooring business in Russell County. The project will create 155 new jobs for Southwest Virginians. The locally owned company will manufacture finished hardwood flooring and finished stair tread and molding products. The company will locate in the former Acme grocery store. More. AppForge Opens Newport News Office NEWPORT NEWS--AppForge, Inc., an Atlanta-based developer of mobile and wireless applications, is opening an office in Newport News to house its professional services team, quality assurance staff and some administrative functions. Corporate headquarters will remain in Atlanta, along with the core development team. The Newport News office will be a transitional office space as AppForge recruits additional employees and identifies a location for a larger permanent office. It is expected that the Newport Office will move to a permanent space in the next twelve months. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners:
|
NeuStar Files for IPO STERLING--NeuStar Inc., a provider of authoritative telephone directories and clearinghouse services to the telecommunications industry, has filed with the Securities Exchange Commission to sell shares in an initial public offering. According to the filing, the company could raise up to $690 million, although no specific price targets were released. The shares are being offered by unidentified shareholders in the company. Last year NewStar earned $35.6 million on revenue of $165 million. More. Convera Secures $5 Million Equipment Loan VIENNA--Convera Corporation, a developer of search and categorization software, has secured a $5 million equipment loan from Silicon Valley Bank. The four-year, term facility will provide financing for capital purchases including those for its Web-indexing initiative. More. Columbia is Cooking with Gas! CHESTER--Columbia Gas of Virginia, a NiSource company, added 9,600 new customers in 2004, allowing it to grow 4.6 percent, or twice the national average for local natural gas distribution companies. The company added another 1,800 customers in just the first two months of this year. Key growth markets include Manassas, Prince William County, Spotsylvania County, Stafford County, Chesterfield County and portions of Loudoun County, Fairfax County, Suffolk and Chesapeake. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Virginia Technology Alliance |
AOL Latin America Running out of Cash DULLES-America Online Latin America, Inc., has reported to the Securities and Exchange Commission that it has cash to fund operations only through the third quarter of 2005. Barring an unlikely cash infusion from AOL, its parent Time Warner or its Latin American investors, the company may be forced to file for bankruptcy. The company also reported that it may have defaulted on notes to Time Warner, triggering an obligation to repay $160 million, which it does not have. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Icing on the CACI: $20 Million from the Sealift Command ARLINGTON--CACI International Inc. has won a contract potentially worth $20.4 million to provide IT services to the Military Sealift Command. MSC transports equipment, fuel, supplies, and ammunition by sea to support U.S. forces worldwide. The command is striving to balance current and future IT requirements while transforming business processes and practices to reduce cost and improve overall operational capability. More. In Brief... SUFFOLK--General Dynamics Advanced Information Systems has been awarded a $10.3 million task order for services in support of the U.S. Joint Forces Command's Joint Experimentation Program and Joint Futures Lab. More. RESTON--NetGain Communications, a telecommunications consultancy, has won a contract to provide Miles & Stockbridge P.C., a leading law firm practicing in the Baltimore and Washington metropolitan region, with advanced network services. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MCI Accepts Revised Verizon Bid ASHBURN--MCI, Inc., Virginia's largest homegrown telecommunications company, has accepted a revised offer from Verizon to purchase the company. Under new proposal, each MCI share will receive cash and stock worth at least $23.50. That's an increase from Verizon's original offer equivalent to $20.12 per share, and compares to a rival bid from Qwest Communications valued at roughly $26 per share. Said MCI Chairman Nicholas deB. Katzenbach: "MCI's Board has been closely and carefully evaluating all of the recent developments. We believe Verizon's substantial increase in its offer, the strength of its competitive position and the financial certainty at close make this offer compelling to our shareholders, customers and employees." More. Continental Holdings Wraps up Dixie Box Deal RICHMOND-Continential Holdings, Inc., a real estate and investment company, has purchased Norfolk-based Dixie Box & Crating Inc., an industry leader in packaging services for international and domestic shippers. Dixie offers on-site packaging and plant dismantling; certified hazardous materials packaging for ocean or air; heavy lift and specialized trucking; and a variety of other specialized warehousing and distribution services. The company will continue to operate under the Dixie name. Said Dixie Vice Chairman Charles Frasier: "Dixie is a strong and fast-growing company that already operates in more locations and serves more cities than any other competitor. This acquisition is all about continuing that growth." More. Alion to Acquire Marine Engineering Firm MCLEAN--Alion Science and Technology has agreed to acquire John J. McMullen Associates, an Alexandria-based naval-architecture and marine-engineering firm. Said Alion CEO Bahman Atefi: "This acquisition will help us further our support of the U.S. Navy, U.S. Coast Guard and Marine Corps with practical, technically-advanced systems and solutions. It will also present new opportunities in the commercial world." More. IMS Environmental Sold to HEPACO NORFOLK-IMS Environmental Services, a provider of emergency-response and remediation services, has been purchased by HEPACO, Inc., of Charlotte, N.C. The 130 IMS employees serve the Mid-Atlantic market from offices in Norfolk, Chesapeake, Richmond, and Fredericksburg; Raleigh, N.C.; and Baltimore, Md. Said HEPACO President Ron Horton Sr.: "We see a lot of opportunity for expanding their existing business. They do more industrial maintenance than we have done previously. We'll be able to take emergency response to their existing customers, and bring more industrial maintenance services to our customers." More. Alpha Omega Closes Two Transactions RICHMOND-Alpha Omega Capital Partners, an investment banking firm specializing in financial transactions up to $50 million, has closed two deals. In one, the firm obtained financing for Sanger's Quality Roofing, of Richmond, from First Market Bank and Virginia Commercial Finance. In the other, Alpha Omega acted as financial advisor to Huntsinger Plastic Extrusions, Inc., of Bally, Pa., in its sale to HPE Enterprises, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |
 Symbionics to Deliver Next Generation Wearable Computer for Marines CHANTILLY--Symbionics Inc., has won a U.S. Marine Corps contract to supply Modular Wearable Computers for use with the Corps' Unmanned Vehicle programs. Weighing less than five pounds, the ruggedized modular computer will have an integrated Head Mounted display, providing soldiers with hands-free access to data and video from a variety of unmanned vehicle sources. As prime contractor, Symbionics will supply its commercial-off-the-shelf computer equipment. By interfacing directly with military unmanned vehicles and ground sensors, soldiers will be better equipped to locate threats such as an improvised explosive device or enemies over a hill. Encouraged by the contract, Symbionics and its project partner, Massachusetts-based Icuiti Corporation, are forming a partnership to develop similar products for other branches of the Department of Defense. Said Stephen Glaser, VP of sales for Icuity, which provides the head-mounted displays: "The sharp rise in the number of Unmanned Vehicles in use around the world has created a need for advanced, low power, body worn systems. We predict our joint efforts will result in one of the most advanced body worn computer systems ever built." More. AOL Introduces Blogging Product for Teens DULLES--America Online has introduced a blogging service for teenagers in a "velvet rope" environment that allows teens and parents to choose between different levels of privacy. The most private option allows teens to utilize the blog as a personal diary under lock and key. A semi-private option limits access to the blog to only those who have been invited to view it. A public setting allows anyone to read the blog. AOL officials predicted that five million teens would use the service. Cavalier Logistics Offers Controlled-Environment Room DULLES--Cavalier Logistics, a provider of turnkey transportation, storage and distribution solutions, has introduced a controlled environment room at Dulles Airport to serve biotechnology, pharmaceutical, healthcare and government customers. Said President Tim Holdaway: "Our state-of-the-art cold storage gives customers the peace of mind of knowing their products are secure, maintained perfectly and staged for rapid deployment if need be. We have the industry's most advanced controls and computerized systems in place to constantly monitor the environment." More. Robbins-Gioia Unveils Process-Refinement Solution ALEXANDRIA--Robbins-Gioia, LLC, a provider of program management services, has launched its Process Refinement and Optimization (PRO) solution for managing process improvements. Integrating quality-management, six-sigma and other management methodologies, PRO will help clients increase throughput, reduce labor costs, improve time to market, minimize re-work, improve customer service, optimize budgets for project funding and streamline bureaucratic processes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Hokies Win $12 million Clean-Coal Grant BLACKSBURG--The Center for Advanced Separation Technologies, a multi-university and industry consortium lead by Virginia Tech, has received a $12 million grant from the U.S. Department of Energy to develop separation technologies that can reduce pollutants such as sulfur dioxide, nitrogen oxides and mercury from coal. CAST will conduct broad-based research in the areas of physical separation, chemical/biological separation, and environmental control. More. Wahoos Plumb Secrets of the White Blood Cell CHARLOTTESVILLE--Every day, the human body manufactures and destroys about 100 billion neutrophils--the most common type of white blood cell. By probing the process by which the body regulates the production of these bacteria-eating cells, researchers at the Cardiovascular Research Center at the University of Virginia Health System are hoping their work could lead to treatments for undergoing white blood cell-killing chemotherapy. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |
Warner Hits a Homer for Transportation RICHMOND-Gov. Mark R. Warner has promoted elevated Deputy Secretary of Transportation Pierce Homer to serve as Virginia's Secretary of Transportation. He succeeds Whittington "Whitt" Clement, who earlier announced his plan to resign at the end of this month to return to the practice of law. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
 Despite a slight decline from its December 2004 peak, housing market activity has bounced back from previous-year levels. As of January 2005, the number of building permits issued for single-family homes increased 5.9 percent from a year earlier, providing a positive outlook for construction in early and mid-2005. For details on regional economic conditions across Virginia, including Richmond-Petersburg, Northern Virginia, and Hampton Roads, as well as a list of Chmura Economics & Analytics (CEA) products and services, click here, or call (804) 649-1107. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Miller Oil Selects PriceStrat to Optimize Merchandise Sales NORFOLK-Miller Oil Company, operator of more than 60 convenience stores in Virginia, has selected KSS Inc.'s PriceStrat solution to manage its convenience store pricing. With comprehensive support for analysis, "what-if" modeling and optimization, PriceStrat will support Miller Oil in developing, testing and executing more effective pricing strategies for its merchandise. Said President Jeff Miller: "We see PriceStrat as a key tool to help us improve business efficiency and profitability in merchandise and to effectively respond to the ever-changing market conditions we face." More. Defywire Sues webMethods, Inc. for $5 Million HERNDON--Defywire Inc., a wireless middleware and mobile application provider, has filed suit charging fraud and breach of contract against business integration software company webMethods, Inc., of Fairfax. The lawsuit seeks more than $5 million in compensatory and punitive damages and an injunction enjoining webMethods from using Defywire's proprietary information. The lawsuit alleges that webMethods falsely obtained and used Defywire's proprietary information to develop a product to compete with Defywire's wireless technology. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Currency Quake The declining value of the dollar will directly impact interest rates, property values and corporate competitiveness in Virginia. That means bad news for some, potentially good for others. More. | The Platinum Party Card Money can't buy love -- but it can buy a leadership position with a political party. If you think that Virginia Republican Party leaders are hot right now, wait until Virginia Senator Russ Potts, R-Winchester, appears at the polls on June 14 to vote in the Republican primary. Boom! Potts, of course, is being pilloried by the state central committee and the local GOP committee for announcing his intention to run for governor as an independent Republican in the November general elections, rather than in the Republican primary. The committees have concluded, therefore, that Potts has forfeited his place in the Republican Party, something the frank and exuberant Senator says is a matter for himself and his maker to determine. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hosting an event? Post the details in our weekly events listing. Click here for our listing guidelines. |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |
VA Newswire is a free, email-based weekly newsletter that covers news and events from around the state. If you have any news, events, job openings, or office space availability that you would like to include in next week's newswire, email jim@vanewswire.com. Click here for a free subscription. Click here to unsubscribe. |