|
||||||||||||||||||||||||||||||||||||||||||||||
| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||
|
|
In This Issue... Expansions, Relocations and Launches , Who's Winning Business , Deals & Partnerships , Innovations , Partnerships & Collaborations , Research & Intellectual Property , 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
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
Horne Relocates to Fairfax FALLS CHURCH-Horne International, Inc, a government services company, has relocated from Falls Church to a new facility in Fairfax. The location accommodates maximum accessibility for employees who live in the region, as well as quick access to Horne International's key U.S. government clients and business partners located in the nation's capital. More. In Brief... WASHINGTON--Preferred Offices will open three new offices in the Washington, D.C., region this fall, including one in Alexandria, to accommodate continued market demand for the company's flexible, full-service offices geared to the needs of the mobile workforce. More. ARLINGTON--Smart Payment Solutions, a payment processing company, is expanding its operations center in Greenwood, Ind. More. ROANOKE--The Home Energy Savings Corp., an installer of energy-efficient home products, has opened an office in Cherry Hill, N.J., the first of eight offices in key markets over the next 18 months. More. |
||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
Kodiak Funding Closes $774.7 Million Private Placement ARLINGTON--Kodiak Funding, LP, a specialty finance company, has issued $774.7 million of notes in a private placement in a securitization of the debt of various real estate investment and real estate operating companies. Said CEO Jeff McClure: "This transaction further validates Kodiak's business model of combining world-class real estate talent and capital markets expertise. Institutional investors worldwide have chosen to invest in Kodiak CDO I, emphasizing the international desire for exposure to the U.S. real estate market through alternative investment vehicles." More. Voxant Raises $10.5 Million in Second Round RESTON - Voxant, creator of the Viral Syndication Network for online news, has secured $10.5 million in a second round of funding. The infusion will underwrite the launch of TheNewsRoom, a network that publishers can use to distribute video, print, audio and photo news content to thousands of websites and blogs, where it can then be redistributed through viral mashing. Voxant's advertising-supported service is free to Web publishers and provides revenue to both originating content providers and distributors. CEO Jeff Crigler said the online news syndication market is expected to grow in value from $574 million currently to $3.8 billion by 2010. More. Nanochemonics Nabs Growth Financing PULASKI-Nanochemonics Inc., has raised an unspecified amount of growth capital from Spotswood Capital LLC, a Greensboro, N.C. investment firm, to fuel the commercialization of the company's portfolio of iron oxide-based nanoparticles. Nanochemonics (formerly Magnox Specialty Pigments, Inc.) can produce de-agglomerated particles as small as two nanometers. It supplies companies involved in mining, purification and separations, coatings, cosmetics, catalysis, environmental remediation as well as in traditional applications in magnetic media, inks and toners. More. In Brief... RESTON-Blue Canopy Group, an IT technology and consulting firm, has secured an undisclosed sum of expansion capital to accelerate its growth in both the federal and commercial markets. More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business...
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
BearingPoint to Help Revamp EDGAR Database MCLEAN--BearingPoint, Inc., a management and technology consulting firm, has been selected as part of a team led by Keane, Inc., to operate, maintain and modernize the Securities and Exchange Commission's Electronic Data Gathering, Analysis, and Retrieval system, commonly referred to as EDGAR. The $48 million team contract will transform EDGAR to a dynamic real-time search tool with interactive capabilities. More. Spectra Lands a Big One: $45 Million Contract for Fishing Line HOPEWELL--Honeywell has negotiated a long-term supply contract worth $45 million to supply its high-performance Spectra fiber to Innovative Textiles, a manufacture of ultra-high-strength and small-diameter braided lines, into its PowerPro premium fishing line. Said Honeywell executive Carleton Rowsey: "Spectra fiber creates incredibly strong line while providing high sensitivity for easy transmission of even the slightest strike." More. UnBound Medicine Delivers Merck Manual CHARLOTTESVILLE--Unbound Medicine, a provider of mobile information resources for healthcare, has released The Merck Manual for Mobile Devices in partnership with Merck & Co., Inc. Clinicians now can refer to a continually updated Merck Manual from any location using a personal digital assistant or a wireless device. More. In Brief... VIENNA--Serco Inc. will participate in two multiple-award contracts totaling $370 million awarded by the U.S. Army's Research, Development and Engineering Command Acquisition Center, headquartered at Aberdeen Proving Ground, Md. More. ALEXANDRIA--The BAV Division of VSE Corporation has completed the reactivation, in Charleston, S.C., of two ex-Kidd Class guided missile destroyers for the Taiwan Navy. More. SPRINGFIELD--Computer Systems Center Incorporated has signed an indefinite delivery/indefinite quantity contract worth an estimated $10 million over five years to provide systems and mission integration to the U.S. Defense Department. More. HERNDON--Multimax, Inc., has won a $9.5 million task order for to maintain the Automatic Business Services System, an Air Force-wide standard financial management system. More. FAIRFAX-Caliber, an ICF International company, has been awarded a five-year, $20 million contract with the Administration for Children and Families, Office of Family Assistance to manage a child-care clearinghouse and related services. More. FAIRFAX--ICF International has been awarded a five-year, $8 million training support contract with the U.S. Air Force, Air Mobility Warfare Center, Expeditionary Operations School. More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
Talk America to Be Acquired by Cavalier Telephone & TV RICHMOND-Cavalier Telephone & TV has agreed to acquire Talk America, of New Hope, Pa., for $251 million, creating a telecommunications company with more than $750 million in. The combined company currently serves over 550,000 residential customers and 85,000 business customers, reaching six of the top 20 metropolitan services areas in the country. Said CEO Brad Evans: "The combination brings the strengths of two of the nation's most successful competitive carriers together. Talk's state-of-the-art back office support system, their extensive sales and marketing distribution channels and Cavalier's advanced network architecture will help provide our combined customers the newest and most advanced telecommunications' solutions in the marketplace." More. Software Outsourcing: Not Just for India Anymore VIENNA--Induslogic, a global provider of outsourced product development services, has merged with Bonus Technology, a New Jersey-based software engineering services company with significant operations in the Ukraine. Bonus has built a team with competencies in telecommunications and open source, including more than 250 engineers, half with master's degrees and more than 15 percent with doctorates. The headquarters will be located in Virginia. Said CEO Peter Harrison: "More and more, software companies need to globalize their research and development to benefit from the worldwide pool of talent. Creating their own captive subsidiary halfway around the world is increasingly risky, takes too long, and involves too many noncore activities. GlobalLogic provides a unique solution for independent software vendors - they get all the benefits of a captive engineering team with none of the risk." More. In related news... GlobalLogic has introduced the Velocity Platform, which enables software product companies to rapidly create high-quality products using geographically distributed teams. More. Albemarle Buys Fine Chemicals Assets from DSM RICHMOND--Albemarle Corporation, a specialty chemicals manufacturer, has agreed to purchase the fine chemistry services and pharmachemicals business associated with DSM Pharmaceutical Products' South Haven, Mich., facility. Said Albemarle executive John Nicols: "The South Haven acquisition is another key move in our ongoing efforts to reposition the Fine Chemicals division around services and higher value activities." More. Dominion Enterprises Snaps up Anaheim Web Company NORFOLK--Dominion Enterprises, a media and information services company, will acquire ADVANCED ACCESS, an Anaheim, Calif., a web design company that specializes in serving real estate professionals. The company has annualized revenue of approximately $15 million. Said Dominion CEO Conrad Hall: "Today's acquisition adds another significant piece to Dominion's array of real estate marketing services," which includes Homes.com, a homes-for-sale portal, various web services and free-distribution real estate magazines. More. Alcoa to Sell Home Exteriors Unit for $300 Million STUART'S DRAFT-Alcoa has agreed to sell its Alcoa Home Exteriors business, including a plant in Stuarts Draft, to Ply Gem Industries, Inc., for $300 million. Alcoa Home Exteriors, which manufactures and markets premium products for the residential construction and remodeling markets, no longer fits Alcoa's core global building and construction business portfolio. The unit generated 2005 revenues of $600 million and employs 1,400. Stuarts Draft is one of five manufacturing facilities. More. Finetre Closes Window as Independent Company HERNDON-Finetre Corporation, a supplier of transaction-processing solutions to the financial services sector, has agreed to a purchase by Atlanta-based Ebix, Inc. for $15 million plus up to $3 million in earn-out payments. Ebix, which develops e-commerce solutions for the insurance industry, intends to merge Finetre with its EbixLife subsidiary with the goal of expanding into new product lines such as life insurance transaction processing. More. Ricciardi Sells out to Science Dyanamics MANASSAS-Ricciardi Technologies, Inc., a developer of advanced software and systems development services, had agreed to a sale to Pennsauken, N.J.-based Science Dynamics for a $4.5 million note plus warrants to purchase common stock. Said Science Dynamics CEO Paul Burgess: "This is a major step forward for our company. RTI adds important management expertise to our company and will enhance our presence in the federal government market place." More. In Brief... MCLEAN--Highland Hospitality Corporation, a lodging real estate investment trust, has acquired the 444-room Ritz-Carlton Atlanta Downtown hotel located in Atlanta, Ga., for $79.5 million, plus customary closing costs. More. RICHMOND--Media General, Inc., has sold its CBA affiliate, KWCH, in Wichita, Kan., to Schurz Communications, Inc., for approximately $75 million. More. DANVILLE-Universal Leaf Corporation, of Richmond, has sold a 750,000-square-foot building in Danville to Silagi Development and Management Corporation of Thousand Oaks, Calif. More. ROANOKE-Hall Associates has expanded its presence in western/central Virginia through a merger with Milton Realty Services, a commercial real estate firm based in Lynchburg. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
Anthem Rolls Out 360 Degree Health Program RICHMOND--Anthem Blue Cross and Blue Shield in Virginia, the state's largest health benefits provider, has launched 360 Degree Health, which it claims to be "the most robust benefits program in the industry" to address preventive care, health improvement and care coordination. The program will provide health information and counsel collected from physicians, nurses, and other healthcare professionals to Anthem's 2.9 million members in Virginia through a single point of contact. Anthem also will make Personal Health Records available to its members over the Internet, empowering members to track and share their health histories with their doctors. More. Gibbs & Cox-Designed Littoral Ship Launched ARLINGTON-The U.S. Navy has launched FREEDOM, the first ship of the new littoral combat ship class, in Marinette, Wis. Designed by Arlington-based Gibbs & Cox, Inc., the agile, high-speed ship is built to operate in shallow coastal waters. The highly automated, 3,000-ton vessel uses fixed and trainable waterjets to achieve speeds in excess of 40 knots, is equipped to launch and recover unmanned surface vehicles, and has a flight deck and hangar for helicopters and VTOL aircraft. More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Partnerships and Collaborations
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
Luna, JDSU to Develop Fiber-Optic Testing Solutions ROANOKE--Luna Technologies, a developer of advanced solutions for fiber-optic test and measurement, has announced a joint development agreement with JDSU, a Milpitas, Calif.-based provider of optical communications solutions. The companies will develop new products related to the installation and maintenance testing of modern fiber optic networks. More. In Brief... VIENNA-Lucidiom, a developer of photo kiosk solutions, will outfit 15 Princess Cruises cruise ships this December with its Automated Photo Machine, allowing passengers to make customized photo prints on board. More. RESTON-Cernium Corporation, a developer of video analytics and behavior recognition software, has struck an agreement with Toshiba Surveillance & IP Video Products Group to integrate its software with Toshiba's high-performance IP cameras. More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
Hokies Establish Center for High-End Computing BLACKSBURG-Following its success in creating System X, one of the world's fastest, most cost-effective supercomputers, the Virginia Tech College of Engineering has established the Center for High-End Computing systems. Said Srinidhi Varadarajan, director of the new center: "Our aim is to build a world-class computer systems research group in the service of high-end computing ... with the goal of developing the next generation of powerful and usable high-end computing resources." More. EVMS Studies Effect of Solar Radiation on Mars Flight NORFOLK-In a $1.2 million study, part of a larger NASA project, researchers at the Eastern Virginia Medical School will study the potential impact of solar and cosmic radiation on a manned flight to cars. Among the gravest risks of such a mission is the risk that massive doses of radiation will decimate the brains of astronauts and leave them in a vegetative state, if they survive at all. Said investigator Richard A. Britten: "This research may not only help make it safer to go to Mars, it could lead us to a deeper understanding of how the brain functions. That eventually could help patients dealing with conditions that cause dementia." In Brief... RESTON--Netuitive, Inc., a developer of real-time analysis software for business service management, has obtained a patent for technology that accounts for "seasonal" patterns that are incorporated into the performance model of any service or system. More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
Alion Appoints Mendler as Company's First COO MCLEAN--Alion and Technology, technology solutions company, has appointed its first COO, Stacy Mendler, a former executive vice president who was instrumental in the company's 2002 employee buyout of a not-for-profit company. She will oversee day-to-day operations and execution of company strategy. Said CEO Bahman Atefi: "Establishing the COO position is a necessary element of the company's vision and continued growth." More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends
|
|||||||||||||||||||||||||||||||||||||||||||||
Chmura Economics & Analytics |
|
Bristol employment. The above chart displays employment growth for Bristol MSA alongside growth in Virginia. For the year ending with the first quarter of 2006, employment in Bristol increased 4.1 percent (+1,484 jobs), the fastest year-over-year pace in over ten years. Among the state metro areas, only Winchester (+5.7 percent) and Roanoke (+4.3 percent) recorded a more rapid rate of growth during this period. State employment rose 2.4 percent (+82,157 jobs) over the year ending with the first quarter. Employment trends in regional labor markets are often the best overall measure of economic performance. While statistics relating to output growth, such as real gross domestic (state) product, are considered the most comprehensive performance figures for states and the nation, these data are not available for localities. For details on regional economic conditions across Virginia, including Richmond, 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. Pop Goes the Bubble ASHBURN-In the latest sign that the Northern Virginia real estate bubble has burst, developer Van Metre Homes has announced an "unprecedented" promotional give-away: Contestants can win a brand new townhome-style condominium home at Van Metre's Stone Ridge community. The winner will have the option of taking the residence or a $415,000 credit toward another Van Metre home. More. |
||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
AES Pledges Greenhouse Gas Offsets ARLINGTON--In a pledge to the Clinton Global Initiative, the AES Corporation has committed to produce 10 million tons of greenhouse gas emission offsets by 2012. The global energy producer announced his first significant business venture in emission offsets in May 2006, through the creation of AES AgriVerde. This majority-owned subsidiary utilizes a technology in 10 developing countries to capture methane from agricultural and animal waste sites. The methane, which is 21 times more potent as a greenhouse gas than carbon dioxide, can be either destroyed or burned as a fuel. More. Semester at Sea Engages Desmond Tutu CHARLOTTESVILLE-The Institute for Shipboard education, a not-for profit that administers the Semester at Sea program, has engaged Nobel Peace Prize Winner Archbishop Desmond Tutu as a "Distinguished Lecturer in Residence" for a program that will circumnavigate the globe during the Spring 2007 semester voyage. Tutu will join approximately 600 undergraduate students from colleges and universities from around the world for the 100-day voyage, which will include a stop in his native South Africa. The global studies program is themed "Patterns of Conflict and Paths to Peace in a Diverse World." More. Carilion Upgrades Emergency Response Times ROANOKE--Carilion Health System has implemented TeleNav's TeleNav Track GPS solution to assist Carilion with the location and deployment of ambulances and emergency medical teams during organized events. Recently tasked with providing medical response teams at Martinsville Speedway events, Carilion now can pinpoint emergency medical service providers down to the section they are standing by at the speedway -reducing response times to about one minute. More. |
|||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary
|
|||||||||||||||||||||||||||||||||||||||||||||
The Bridal Path to Nowhere How Virginia can beat its traffic woes: Stop wasting money on dumb projects, establish performance measures and don't give municipalities more power over land use! More. |
|
The Swedish Solution If congestion pricing works in Sweden, why not in Virginia? Tolls that vary by congestion levels could dampen demand for added roadway capacity while raising new revenue. The way Chris Saxman, sees it, if the residents of Stockholm, Sweden, can warm to congestion-pricing tolls as a tool to combat gridlock, so can the capitalist citizens of Virginia. Says the Staunton businessman and representative to the House of Delegates: "Stockholm can do it -- and Sweden's a socialist country!" More. |
||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
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 . |
||||||||||||||||||||||||||||||||||||||||||||||
