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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||
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In This Issue... Expansions, Relocations and Launches , Who's Winning Business , Deals & Partnerships , Innovations , Partnerships & Collaborations , Research & Intellectual Property , Trends , Other , Commentary , Events Click here to forward to a friend or colleague who might like this newsletter. |
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| Back To Top | Expansions, Relocations & Launches
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RealOps Opens New Herndon Office HERNDON--RealOps, Inc., a developer of IT process automation solutions, has opened a 14,400-square foot office in Herndon. The new headquarters will accommodate anticipated staff growth and enable RealOps to expand its software demo and testing facilities. Said CEO Sean McDermott: "RealOps' new corporate headquarters directly reflects our continued growth and commitment to transforming the way IT operations are conducted." More. Starwood to Build "Hip, Urban" Hotel in Chantilly CHANTILLY--aloha! Starwood Hotels & Resorts Worldwide, Inc., of New York, has signed a deal Asha Companies to develop an "aloft" hotel in Chantilly. Scheduled to open in 2008, the signature hotel will feature "technology and hip, urban attitude, making it a refreshing alternative in an otherwise bland travel segment." The loft-like design incorporates exposed beams and structural steel, natural materials like cork and wood, and guestrooms with nine-foot ceilings and oversized windows. Each guest room features plug & play, a signature one-stop connectivity solution for BlackBerries, cell phones, mp3 players and laptops, all linked to a large flat panel HDTV-ready television. More. In Brief... MCLEAN-SecureInfo Corporation, a San Antonio provider of information security solutions, has opened the SecureInfo Information Security Training Center in its recently opened McLean office, which also houses professional services staff, sales and marketing personnel, and key executives. More. OYSTER-- The University of Virginia has opened the $2.5 million Anheuser-Busch Coastal Research Center, home base for the Long-Term Ecological Research project, in Northampton County. More. |
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| Back To Top | Who's Hot
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Living MicrosSystems Raises $18 Million in Venture Capital RICHMOND-Living MicroSystems, a biomedical products company that utilizes call-detection technology to provide prenatal screening of chromosomal abnormalities in the first trimester of pregnancy, has closed an $18 million, Series B round, the Virginia Biotechnology Research Park has announced. The product will significantly reduce the need for amniocentesis, an invasive, potentially dangerous procedure in which a small amount of fluid is drawn from the uterus and examined to detect genetic complications in the fetus. CellPoint Lands 8.5 Million in Series A Funding RICHMOND-CellPoint Diagnostics, developer of a cell-detection technology that captures and analyzes circulating tumor cells from the bloodstream of individuals with cancer, has raised $8.5 million in Series A funding, the Virginia Biotechnology Research Park has announced. This technology has the potential for making a major impact in cancer patients survival through therapy monitoring, reoccurrence detection, therapy selection and ultimately for early screening and diagnosis. Said CEO Michael Grisham: "The funds will be used to complete clinical trials and launch our initial commercialization strategy." More. Managed Objects Raises $7 Million in Series F Round MCLEAN--Managed Objects, a developer of IT management solutions, has closed a $7 million, Series Financing from Intel Capital and current investors. The company will use the funding to provide working capital to support the company's technology acquisition program and future expansion plan. Said CEO Siki Giunta: "These new funds will allow us to aggressively pursue new market segments, while maintaining customer focus on the business service management needs of the Global 2000 companies we serve today. With a strong customer pipeline and solid plans to support our rapid growth, we are extremely excited about our company's future." More. |
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| Back To Top | Who's Not
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Rowe Seeks Chapter 11 Protection MCLEAN--The Rowe Companies, manufacturer of upholstered furniture, has commenced Chapter 11 bankruptcy proceedings to expedite its restructuring plans, including the sale of Storehouse subsidiary. Said CEO Gerald Birnbach: "We expect that the restructuring steps we are taking, while difficult, will ensure the future of our enterprise and our people." More. |
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| Back To Top | Who's Winning Business...
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BearingPoint to Upgrade North Carolina H.R. System MCLEAN--BearingPoint, Inc., a management and technology consulting firm, has won a two-year, $28 million contract with the state of North Carolina to implement the state's new human resources and payroll modernization project. BearingPoint will replace North Carolina's antiquated, 30-year-old H.R. and payroll computer systems with technology that will eliminate most paper forms and give employees the ability to view and change personal information online. More. CPFilms Protects Singapore Police Force MARTINSVILLE- CPFilms, Inc., manufacturer of specialty films, has sold its LLumar window film to the Singapore police force in anticipation of the meeting of the International Monetary Fund and World bank. Window-Cool, LLumar's Singapore distributor, won the contract to install safety film on 50 Singapore Police Force vehicles. Llumar, a multilayered polyster film, holds broken glass together, reducing damage from batons, rocks and other flying debris. More. In Brief... RESTON--ARTEL, Inc., a provider of IT and managed network services, has signed nine previously unannounced contracts valued at approximately $100 million. More. FAIRFAX--ManTech International Corporation has received a task order, potentially worth $47.9 million over four years to support the Central Technical Support Facility at Fort Hood, Tex. More. RESTON--Netuitive, Inc., a developer of real-time analysis software for business service management, is installing its software as the core technology in a $7.4 million U.S. Air Force contract delivered by Telos, a federal government IT solutions provider. More. MCLEAN--Corcentric, a developer of accounts-payable solutions for the trucking industry, has upgraded its solution for Transervice Logistics Inc., of Des Plaines, Ill., a provider of services to the transportation industry. More. FALLS CHURCH-Integration Technologies Group has won a contract for Army Desktop and Mobile Computing 2. More. |
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| Back To Top | Deal Makers
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Time Warner Unloads AOL Germany For $870 Million DULLES--Telecom Italia, of Milan, has agreed to acquire Time Warner's AOL Germany Internet access business for $870 million in cash. The deal will make Telecom Italia Germany's second-largest broadband provider, with nearly two million broadband customers. Under a new partnership, AOL will provide content on a joint web portal for all of Telecom Italia's residential subscribers in Germany and will handle all online advertising sales. Said Time Warner CEO Dick Parsons: "Our partnership with Telecom Italia advances AOL's worldwide transition from a business built primarily on providing Internet access to an advertising-supported business model." More. Smithfield Porks Up On Hog Acquisition SMITHFIELD--Smithfield Foods, a processor and marketer of fresh pork and processed meats, has acquired and Premium Standard Farms, Inc., of Kansas City, Mo., in a transaction valued at $810 million. Premium Standard raises 212,000 sows in Missouri, North Carolina and Texas and operates processing facilities in Missouri and North Carolina. Said Smithfield CEO Larry Pope: "This is a business we know very well and it relates directly to our core competence. We have strong expertise in both live hog production and in fresh pork processing. Strategically, this is a very good long-term fit. More. Sunrise Pays $76 Million for Hospice Care Company MCLEAN--Sunrise Senior Living, Inc., has acquired Trinity Hospice, Inc., the eighth largest provider of hospice services in the United States. Through Trinity, Sunrise has entered the fast-growing hospice care industry, which is expected to grow to more than $10 billion in revenue in 2006. Trinity is expected to generate approximately $60 million in revenue in 2006. More. eStara Purchased for $48.3 Million RESTON-eStara, a developer of customer-conversion solutions for online sales, has agreed to a purchase by ATG, of Cambridge, Mass., for $48.3 million in cash, stock and earn-out potential. eStara's market-leading Click to Call, Click to Chat and Call Tracking solutions will advance ATG's mission of enabling online sellers to find customers and convert them to buyers. eStara grew annual revenue 64% year over year to $7.4 million for full year 2005. More. Techbooks Closes Page on Whitmont Acquisition FALLS CHURCH--Techbooks, Inc., a developer of integrated content transformation solutions, has signed an agreement to acquire Whitmont Legal Technologies, Inc., an Irvine, Calif.-based litigation support company. The deal places Techbooks in the rapidly growing market for outsourced electronic data discovery services, a market that could reach $2.9 billion by 2007. More. In Brief... ARLINGTON--The AES Corporation has sold its AES Indian Queens Power Limited subsidiary, a 140-MW, open-cycle peaking power plant located in Cornwall, United Kingdom, to International Power IQ Limited, for approximately $60 million; AES will net $28 million. More. STERLING--N.E.W. Customer Service Companies, Inc., a provider of extended service plans, buyer protection services and product support, has acquired BlueRealm Solutions, a Vancouver, Canada-based provider of innovative warranty software. More. CHANTILLY-BIA Financial Network, a financial and strategic advisory firm serving the media and communications industries, had acquired Digital Information Network, of Oklahoma City, Okla., a pioneer in providing weathering and alerting desktop applications. More. |
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| Back To Top | Innovations
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RCN Launches Unlimited Music Downloads for Monthly Fee HERNDON--RCN Corporation, a provider of cable, high-speed internet and phone services, is launching a new download service as part of its music subscription offering, RCN Music. For a fixed monthly subscription price, $7.95, MusicToGo allows subscribers to fill their iPods and MP3 players with unlimited music. The RCN music library includes two million songs. Said RCN executive Mark Chinn: "You can take your favorite tracks with you and listen to all your music safely and legally at one of the lowest monthly retail rates in North America." More. Wachovia Securities Expands Investment Portfolio Options RICHMOND--Wachovia Securities, LLC, the nation's third largest full-service brokerage firm, has expanded its client portfolio program to incorporate alternative asset classes such as REITs, high yield bonds and emerging market debt. This is the first time that equities, fixed income and mutual funds have been combined in a single discretionary managed account framework at Wachovia Securities. More. Spacenet Upgrades StarBand Service MCLEAN--Spacenet Inc., has introduced StarBand Nova satellite broadband Internet services for small office and residential users, using VSAT technology to deliver faster speeds and improved service quality at significantly lower prices. StarBand was the first to market with a two-way broadband VSAT service for home users in 2000, and the newly introduced product line returns StarBand to a highly competitive position in the growing broadband VSAT market More. VRSonic Blasts Out High-End Audio Solution ARLINGTON--VRSonic, a provider of 3D spatial audio solutions, has introduced the SoundSim Cube, a plug-and-play 3D audio appliance for immersive simulation. Said CEO Hesham Fouad: "Most sound systems are written for gaming, but organizations such as giant screen cinemas, museums, high-end retailers and the military require a greater sense of realism." More. |
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| Back To Top | Partnerships and Collaborations
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Homeland Security J.V. to Detect Nukes and Dirty Bombs ARLINGTON--Homeland Security Capital Corp. has entered into a joint venture with Polimaster, a Belarus-based developer and manufacturer of professional equipment for monitoring, detecting, locating and identifying nuclear and radioactive materials. The joint venture, operating as Polimatrix, Inc., will be owned 51 percent by Homeland Security Capital and 49 percent by Polimaster. Said CEO C. Thomas McMillen: "There may be nothing more threatening and more difficult to deter than the threat of a nuclear or radiological incident or the human and economic loss from a dirty bomb." More. Dynex Partners with Deutsche Bank GLEN ALLEN--Dynex Capital, Inc., has established a joint venture with DBAH Capital, LLC, an affiliate of Deutsche Bank AG. Dynex will take a 50 percent interest in the venture, contributing $36.5 million in cash plus more than $500 million in securitized receivables and securitized financing from its balance sheet. More. Intellimats Integrates 3M Technology to Create Turnkey Product ROANOKE--IntelliMats, LLC, has been certified by 3M Digital Signage to run 3M's content management software on its digital mats. The 3M technology allows the company to provide customers with a turnkey product: an engaging, full-color, on-floor video display with the content management software needed to control the messaging from any location. More. In related business, Intellimat has announced that it has selected Malibu Technologies, of Detroit, as the primary manufacturer of its digital mat displays. More. In Brief... CHARLOTTESVILLE-openQ, developer of solutions for the strategic management of key relationships across life sciences, has partnered with Hartford, Conn.-based Exploria, a software company specializing in communication and content management in the life sciences, to create a state-of-the-art solution for both KOL content and relationship management. More. |
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| Back To Top | R&D / Intellectual Property
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VCU Profs Measure Blood Pressure Inside the Heart RICHMOND--Researchers at the Virginia Commonwealth University Medical Center have patented a noninvasive means of measuring blood pressure inside the heart. The measurement to determine central venous pressure -- a reading that gives doctors important information about how well the heart is pumping -- now can be done using a simple blood pressure cuff and electrodes attached to the arm. The technique replaces a risky procedure in which doctors thread a catheter through the neck or chest. More. |
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| Back To Top | People
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Space Adventures Launches First Female Space Tourist VIENNA--Space Adventures, Ltd., the world's leading space experiences company, has launched Anousheh Ansari aboard a Soyuz TMA spacecraft from the Baikonur Cosmodrome in Kazakhstan en route to the international Space Station. Ansari, a George Mason University computer engineering graduate and founder of Prodea Systems, of Plano, Tex., is the first female space tourist. More. Leonsis Lets Go at AOL DULLES--Ted Leonsis, vice chairman of AOL and head of its fast-growing Audience business, will retire from an active management role on January 1, 2007. He will remain vice chairman, reporting to CEO Jonathon F. Miller, serving as a strategist, visionary and mentor. At the same time, Leonsis will pursue his passions in sports ownership, film-making, philanthropy, and venture-capital investing. In the 2Q of 2006, AOL advertising revenue grew by 40 percent, the business for which Leonsis has been most responsible. More. webMethods CFO Resigns FAIRFAX-Mark Wabschall, CFO of webMethods, Inc., is resigning his position, citing "family reasons" for the decision. Waschall will remain with the firm, a business integration and optimization software company, through the end of the calendar year. More. |
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| Back To Top | Other News
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Washington Gas Seeks 3.6 Percent Rate Increase WASHINGTON--Washington Gas has filed an application with the Virginia State Corporation Commission to increase the company's rates and charges. The rate hike would boost annual revenues by $23 million, an increase of about 3.6 percent for the average Washington Gas residential customer, or about $45.53 annually. More. Jury Orders ePlus to Pay $3 Million to Bank of America HERNDON-A Fairfax County jury ruled against ePlus inc. in a dispute with Banc of America Leasing & Capital, ordering ePlus to pay BoA $3,025,000. BoA had filed suit, alleging a breach of warranties in a deal in which BoA financed an installment sale of equipment to Cyberco Holdings, Inc. After the equipment was financed, the parties discovered that Cyberco was committing a sophisticated fraud. The jury appears to have concluded that ePlus bore the risk of Cyberco's fraud. More. In Brief... WINSTON-SALEM, N.C.--BB&T Corporation plans to merge banking subsidiaries BB&T of Virginia and BB&T of South Carolina into Branch Banking and Trust Company, the corporation's primary banking subsidiary, with the goal of reducing operating and regulatory expenses. More. |
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| Back To Top | Commentary
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This Time, Pull Together September's special session on transportation gives delegates and senators another chance to meet public expectations. More. |
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Two Steps Backward Tim Kaine has made two decisions that will aggravate Virginia's dysfunctional human settlement patterns: He nixed the tunnel for the Tysons METRO extension and he picked a traditional highway guy to run VDOT. We returned from the Northern Rocky Mountain Urban Support Region to find that Gov. Timothy M. Kaine has thrown in the towel on mobility and access. Kaine seems set on condemning Virginians to a future of immobility, economic stagnation, social conflict and ecological dysfunction. We had held out hope for a brighter future as recently as two weeks ago. Kaine's recent actions quashed the optimism expressed on the Bacon's Rebellion Blog ("Learning from the EU," Aug. 2, 2006) that perhaps "Tim was listening three years ago." |
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| Back To Top | Events
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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 jabacon@baconsrebellion.com . Click here for a free subscription . Click here to unsubscribe . |
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