December 2001

This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings please:

mail it to:
For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293

or e-mail it to ForTheRecord@va-business.com, or fax it to (804) 649-6311.

Mergers and Acquisitions
Estara Inc., a Reston-based developer of Web voice technology, acquired a division of IXTC Corp. of Princeton, N.J. IXTC received a 20 percent ownership stake in eStara, and licensing and call competition revenue. Estara acquired the company's "Push to Talk" e-commerce service and will consolidate it into eStara's Reston office. IXTC will close its Beaverton, Oregon office. (Potomac Tech Journal, 10/12/01)

Smithfield Foods Inc., a food processor headquartered in Smithfield, signed letters of intent to acquire Stadler's Country Hams Inc., a North Carolina ham producer, and RMH Foods Inc. of Morton, Ill., which specializes in pre-cooked pork and beef entrees under the Quick-n-Easy brand. (PRNewswire, 09/26/01)

Core Consulting of Richmond has formed as a result of mergers between the systems and software development divisions of Virtual Technology Associates and Core Management Consulting's consulting resources group. (Press release, 09/24/01)

Capital One Financial, a financial services holding company headquartered in Falls Church, has agreed to acquire San Diego, Calif.-based PeopleFirst Inc., the nation's largest provider of direct motor vehicle loans for a purchase price of 3.7 million shares of Capital One common stock. (PRNewswire, 09/21/01)

Dominion, a Richmond-based power company, has agreed to acquire Louis Dreyfus National Gas of Oklahoma City, Okla., for $2.3 billion in cash, stock and assumed debt. The acquisition will increase Dominion's natural gas reserves by 60 percent. (Business Wire, 09/16/01)

Lanna Dulap Spriggs and Collaborative Design Group of Richmond have merged and will now be known as LDS/Telesis and CDG/Telesis. (Press release, 09/15/01)

Compass Technology Management Inc., Chesapeake information technology firm, has acquired Richmond-based The Computer Solution Co. Purchase of the company added 16 employees, more than 100 clients and a third office in Richmond. (The Virginian-Pilot, 09/11/01)

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Deals
Planet Central, an advertising agency headquartered in Richmond, won a $7 million account with Triguard Group, a Boston-based maker of security systems, for an advertising and marketing campaign scheduled for early 2002 focused on its HomeAlone Phone system. (Press release, 10/23/01)

Virginia International Terminals Inc. and Lydall Distribution Services have formed a partnership for a new world-class paper distribution facility at The Port of Virginia's Newport News Marine Terminal. The new facility will be operated as the Lydall Paper Distribution Center. (Press release, 10/09/01)

VERSAR Inc. of Springfield signed an agreement with Kobe Steel Ltd. of Japan to participate in expansion of business activities related to the demilitarization of chemical weapons abandoned in the Peoples Republic of China and in Japan. (Press release, 09/25/01)

Bay Design Group, an engineering, land planning and surveying firm based in Glouchester, is working with Ryan Homes and Wilton Development to build a new single family residential neighborhood near the Concourse at Wyndham in Richmond's West End. (Press release, 09/24/01)

Convera, a Vienna-based provider of innovative software products that manage multimedia digital content, and the National Basketball Association have terminated their interactive services agreement reached last September. Convera is no longer focusing on interactive services. (Business Wire, 09/20/01)

Network Access Solutions Corp., a Herndon-based broadband solutions provider, acquired from CapuNet, a Rockville, Md.-provider of corporate Internet solutions, approximately 1,300 customer lines for high-speed Internet access service. (PRNewswire, 09/20/01)

Audiopoint, a Fairfax-based speech applications company, in partnership with Innovata of Oakwood, Ga., a global data retailer, released speech-enabled airline schedules that bring flight schedules of over 160 major airports directly to any phone. (Business Wire, 09/19/01)

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New Plants and Companies
Delta Air Lines will begin regional-carrier service out of Newport News/Williamsburg International Airport in February 2002. Three non-stop daily flights to Atlanta will be offered. (Daily Press, 10/12/01)

V&S Bristol Galvanizing will locate a galvanizing plant at the Bristol-Washington County Industrial Park in Washington County. The operation will employ 25 people and result in a $2.5 million investment. (Press release, 10/12/01)

Earthworks Consulting Engineers Inc., a geotechnical engineering firm headquartered in Richmond has formed, focusing on servicing the development and construction industry in Richmond, Williamsburg and Hampton Roads. (Press release, 08/24/01)

Eagle Technology Consultants, an Atlanta-based firm specializing in custom Internet, Intranet and Extranet solutions, is opening an office in Reston, the company's third. (Press release, 10/01/01)

COBRO Corp., a Westar Company that provides support to the armed forces and private sector companies, has moved its mid-Atlantic regional headquarters to Prince William County. More than 130 employees and $7 million in contract revenue are managed through the location. (Press release, 09/28/01)

Centrivity, a start-up technology company, will locate its operations in Herndon, investing $3 million and employing 45 people. Within three years, the number of employees is expected to reach 300. The company will own and operate a dedicated private network and host a data center needed to support its customer operations. (Press release, 09/26/01)

Openet Telecom opened its U.S. headquarters in Reston. The company specializes in scalable mediation solutions. (PRNewswire, 09/26/01)

VTKnowledgeWorks, formed by the Virginia Tech Foundation in conjunction with eIncubator, LaunchFuel and Redleaf, will serve as a new technology business accelerator to provide emerging companies and entreprenuers with expert support from national-level company creators. (Press release, 09/10/01)

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Executive Promotions
Thomas M. Mishoe Jr., president, CEO, Open Plan Systems Inc., a Richmond-based technology firm. (Business Wire, 10/01/01)

Nancy R. Friedman, president, COO, Universal Systems & Technology, a Centreville-based systems engineering, simulation and training technology company. (Press release, 09/28/01)

Christopher M. Mann, vice president, CFO, assistant secretary of Convera Corp., a Vienna-based provider of software. (Business Wire, 09/27/01)

John J. McLaine, CEO of Portris, a provider of software productivity tools based in Reston. (Business Wire, 09/25/01)

Keith Gilchrist, executive vice president, COO, Chesapeake Corp., a specialty packaging firm headquartered in Richmond. (Business Wire, 09/21/01)

Jerry Curl, president, and CEO, Rising Edge Technologies of Herndon, which provides data capture and archive storage solutions. (Business Wire, 09/21/01)

Brad E. Schwartz, senior vice president and CFO of American National Bank & Trust Co. in Danville. (PRNewswire, 09/21/01)

Walter Robertson III, COO, Scott & Stringfellow Inc. of Richmond, a regional investment banking, brokerage and financial services firm. (PRNewswire, 09/18/01)

Richard Bunker, interim CEO, ServerVault, a Dulles-based hosting services provider. (Business Wire, 09/17/01)

Norman A. Scher, president, CEO, of Tredegar Corp., Richmond-based maker of plastic films and aluminum extrusions. (Richmond Times-Dispatch, 09/12/01)

Paul Saleh, executive vice president, CFO, Nextel Communications of Reston, a provider of fully integrated wireless communications services. (Business Wire, 09/07/01)

Chris Oswald, president, Precision Technology USA Inc. an engineering and product design firm n Roanoke. (Press release, 09/06/01)

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Contracts
VSE Corp., an Alexandria-based engineering firm, said its fleet maintenance division has received a contract from the Naval Surface Warfare Center, Indian Head Division, with potential value of $72 million over five years. (Potomac Tech Journal, 10/16/01)

Cryptek Secure Communications, a Sterling-based provider of electronics and network security products, was awarded a $7.5 million contract to install its network security system, DiamondTEK, for the Department of Defense's Joint Engineering Data Management and Control System. (Potomac Tech Journal, 10/16/01)

SETA Corp., a creator of enterprise solutions headquartered in McLean, and San Diego-based Science Applications International Corp. were jointly awarded contracts with a maximum value of $3 billion from the Defense Information Systems Agency to assist in the management and integration of disparate military telecommunications systems into the DISA infrastructure. (Potomac Tech Journal, 10/15/01)

InfraCor of Virginia, a subsidiary of InfraCor Inc., received a contract from Henrico County to replace 8,500 lineal feet of sewer pipe at Gillie's Creek with an estimated value of $2.8 million. (Business Wire, 10/15/01)

HDR Inc., an Omaha, Neb. Architectural and engineering firm with an Alexandria office, is part of a team awarded a $145 million design-build contract for the first phase of renovation of four of the Pentagon's five "wedges." HDR will work with lead contractor Hensel-Phelps Construction Co. of Chantilly on the 11-year project whose contract could total more than $758 million. (Press release, 10/11/01)

MAXIMUS, a Reston-based provider of government management and technology services, will serve as a subcontractor for an electronic benefit transfer project awarded by the state of California's Health and Human Data Services Center to Sacramento-based Eskel Porter Consulting Inc. Value of the subcontract to MAXIMUS is more than $8 million; the project term extends through November 30, 2004. (Press release, 10/10/01)

Atlantic CommTech Corp. of Virginia Beach was awarded the five-year Communications Extended Service Contract by the 86th Communications Group at Ramstein Air Force Base in Germany. The indefinite delivery, indefinite quantity contract has an estimated value of $2.5 million. (PRNewswire, 10/10/01)

CTA Communications of Lynchburg won a contract to connect the wireless communications systems of agencies within the U.S. Department of Justice nationwide. The contract with four one-year renewal options could total $4.6 million. (The News & Advance, 10/08/01)

Computer & Hi-Tech Management Inc., a McLean-based information technology company, won a $6.8 million, four-year contract from the Department of Commerce to implement a department-wide IT security program. (Potomac Tech Journal, 10/08/01)

Anteon Corp., a Fairfax-based engineering solutions company, was awarded a delivery order to provide Logistics Management Services at the National Institutes of Health. The contract has a five-year (base plus four option years) duration with an estimated value of $16 million. (Press release, 10/08/01)

Arnold Worldwide of McLean has won the Championship Auto Racing Teams national advertising account worth up to $20 million a year. (Washington Business Journal, 10/05/01)

Orbital Sciences Corp. of Dulles was awarded a $22 million development contract by the U.S. Army Space and Missile Defense Command for Phase IIa of the Liquid Booster Target System. (Press release, 10/04/01)

Computer Sciences Corp. of Falls Church won a contract from the Federal Systems Integration and Management center to support the Department of State's Diplomatic Telecommunications Services Program Office. The contract is valued at $107.5 million over eight years if all options are exercised. (Potomac Tech Journal, 10/03/01)

SRA International Inc., a Fairfax-based federal systems contractor, received a $50 million, eight-year contract to service the telecommunications network of the National Guard Bureau in 54 states and territories, and a $5.3 million, 18-month contract to provide systems engineering support to the Defense Threat Reduction Agency. (Potomac Tech Journal, 10/03/01)

Anteon Corp. of Fairfax, an information technology and engineering solutions company, was awarded a five-year contract (base plus four option years) of $19 million by the U.S. Department of Interior, U.S. Geological Survey, to provide professional and technical services for the Biological Resources Division Western Regional Office. (Press release, 10/02/01)

Anteon Corp. of Fairfax, an information technology and engineering solutions company, was awarded a $464,000 U.S. Air Force task order to manufacture and operate portable Common Access Card Issuance Trailers to support e-commerce and information security initiatives. Follow-on options are expected to reach $5 million. (Press release, 10/01/01)

Raytheon Co. of Reston, headquartered in Lexington, Mass., was awarded a logistics worldwide contract by the General Services Administration to provide logistics services and solutions to federal and civil agencies. The five-year contract with one five-year option period is valued at up to $12.5 million. (PRNewswire, 09/26/01)

TRW Inc., a Cleveland firm with operations in Suffolk, was awarded a contract with a total potential value of $262 million to provide exercise and event support for the Joint Warfighting Center. The initial $11.5 million contract contains options that, if exercised, would make it the largest ever awarded by the U.S. Joint Forces Command. (PRNewswire, 09/26/01)

Anteon Corp., a Fairfax-based information technology and engineering solutions company, won a contract from the U.S. Office of Personnel Management to provide training and strategic human resources management to support U.S. government agencies. Estimated value of the five-year contract (base plus four option years) is $25 million. (Press release, 09/25/01)

RS Information Systems of McLean has been chosen by the National Ocean Service to perform a range of scientific and technical work to support the federal agency's Marine Sanctuaries Division and monitor coral reef and fish sanctuaries. Value of the contract is $4 million. (Business Wire, 09/17/01)

KPMG Consulting Inc. of McLean has been awarded one of two Blanket Purchase Agreements to provide program management support services for the U.S. Army's information technology systems. Total value of the agreement is $277 million if all options are exercised. (PRNewswire, 09/20/01)

PEC Solutions Inc. of Fairfax was awarded a $1.9 million task order by the Veterans Benefits Administration, the first phase in a new program to improve the timeliness and effectiveness of aspects of the VBA's claims processing system. (Business Wire, 09/19/01)

CACI International Inc. of Arlington was awarded an estimated $30 million contract by the Defense Department's Joint Information Operations Center in San Antonio, Texas. The company will model and simulate battlefield situations to train senior commanders in managing information operations and activities. (PRNewswire, 09/18/01)

FGM Inc., a Dulles-based software and systems development company, was awarded a contract with the Geneva International Centre for Humanitarian Demining that will provide an interchange format to share information globally on the world's landmine problem. (Business Wire, 09/18/01)

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Cutbacks and Closings
FolioFn, a Vienna-based online brokerage firm, laid off 50 of its 140 employees, in hopes of reaching profitability by the second half of 2002. (Potomac Tech Journal, 10/16/01)

Ardent Communications Inc., an Arlington provider of high-speed Internet access and Web services, laid off 158 workers, leaving it with 120. (The Washington Post, 10/12/01)

National Leisure Group Inc. of Woburn, Mass., a marketer of vacation and cruise packages whose Virginia Beach operation was known as The Vacation Store, laid off about 150 workers, almost half of the jobs at its reservation call center and office. (The Virginian-Pilot, 10/10/01)

PennEngineering and Manufacturing Corp., maker of self-clinching metal fasteners, will close its Suffolk manufacturing plant, with the loss of as many as 100 employees. (The Virginian-Pilot, 10/10/01)

Canon Virginia Inc. will cut 57 jobs from its Newport News plant as part of restructuring effort. (The Virginian-Pilot, 10/09/01)

Norfolk Southern laid off 53 workers from its Roanoke locomotive shop. (The Roanoke Times, 10/05/01)

KPMG Consulting Inc., a McLean information technology firm, offered 500 employees temporary furloughs to avoid layoffs. (The Washington Post, 10/05/01)

Convera Corp., a Vienna software company, is laying off up to 17 percent of its workforce, or 70 people, as it closes offices in Oregon and Colorado. (The Washington Post, 10/03/01)

Constant's Wharf in Suffolk has postponed plans for a $21 million hotel to be developed by Atlanta-based Stormont Trice Development Corp. (The Virginian-Pilot, 10/02/01)

XO Communications of Reston will cut 600 jobs, or 8 percent of its work force, to trim expenses and meet financial expectations. (The Washington Post, 10/02/01)

Motient Corp., a Reston-based wireless messaging company, cut its work force by 125 jobs. (The Washington Post, 10/02/01)

U.S. Airways of Arlington has taken additional steps to cut costs in the wake of the Sept. 11 attacks. Reservations centers in Dayton, Indianapolis and Syracuse will be closed, in addition to a 23 percent reduction in capacity. (PRNewswire, 09/26/01)

Volvo Trucks North America Inc. of Dublin will cut 100 more jobs at its Pulaski County plant because of the continued economic downturn. About 600 people were laid off earlier this year at the plant. (The Roanoke Times, 09/21/01)

Electronic Data Systems Corp. cut 10 percent of its 3,100-person team nationally, which could affect 40 people in Norfolk working on a 5-year, $4.1 billion Navy-Marine Corps intranet project. (The Virginian-Pilot, 09/20/01)

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Divestitures
Dynamic Systems Inc., an Alexandria-based information technology government contractor, was acquired by EDO Corp. of New York. About 100 of the company's 150 employees work in the Alexandria offices and are expected to remain under new management. (Potomac Tech Journal, 10/10/2001)

TeleCorp PCS Inc., an Arlington-based wireless phone company, will be acquired by its largest stockholder, AT&T Wireless Services Inc., for $4.7 billion. (The Washington Post, 10/09/01)

Chesapeake Corp. , Richmond-based specialty packaging firm, sold its permanent display operations, Consumer Promotions International Inc., to a management-led investment group. The company also agreed to sell Chesapeake Display and Packaging (Canada) Ltd. to Atlantic Decorated & Display Inc., a subsidiary of Atlantic Packaging Products Ltd. of Scarborough, Ontario. Cash proceeds will be used to reduce debt. (Press release, 10/01/01)

National Dairy Holdings L.P., of Dallas, has acquired Valley Rich Dairy of Roanoke, which will join National Dairy's Crowley Foods subsidiary. (PRNewswire, 09/26/01)

AES Corp., a power company headquartered in Arlington, closed on the sale of related interests in the Argentine hydroelectric facility Hidronequen to Total Austral S.A., a subsidiary of TotalFinaElf. Total Fina purchased AES Gener's 70 percent interest in Hidronequen for $72.5 million as well as subordinated debt related to Hidronequen held by AES Gener for $50 million. AES also sold Gener's 64 percent interest in the Argentine thermal generator, Central Puerto SA, to TotalFinaElf's subsidiary for $255 million. (Press release, 09/21/01)

BTG Inc., a Fairfax-based information systems and technical services company, entered into a definitive agreement to be acquired by San Diego-based Titan Corp. for $141.9 million payable in Titan common stock and cash. BTG provides systems and solutions development to U.S. defense and intelligence customers. (Business Wire, 09/20/01)

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Expansions
Honeywell International Inc. of New Jersey will invest $20 million in expanding production of Spectra, a lightweight, strong material commonly used in bullet-resistant vests and other armor used by military and law enforcement, at its Colonial Heights technical center. (Richmond Times-Dispatch, 10/16/01)

SouthTech Inc., a subsidiary of Canon will move its plastic molding, metal stamping and sub-assembly operations from Tappahannock to the Canon Virginia plant next spring. About 200 jobs are involved with the move. (The Virginian-Pilot, 10/09/01)

Bowman Consulting Group, a Chantilly-based engineering firm, opened a Prince William branch in Manassas. The company has five offices in Northern Virginia. (Press release, 10/01/01)

Verizon Communications Inc. will close a billing center in Monroeville, Pa., and move 62 jobs to a similar center in Henrico County. (Richmond Times-Dispatch, 10/05/01)

Alfa Laval will expand its operations in Henrico County by adding a new valve and pump manufacturing facility. The $10 million expansion will create 100 new jobs. (Press release, 10/05/01)

McGuireWoods, a Richmond law firm, has added 19 new associates in its Richmond office. (Press release, 10/05/01)

DataCentersNow, which provides customized data center space for lease, purchased a $23 million, 425-acre property in Dulles where it will build its third Northern Virginia "cyber fortress." (Potomac Tech Journal, 10/02/01)

Sara Lee Coffee & Tea Co. of Bensenville, Ill., is expanding its Suffolk plant with the addition of a $93 million concentrated liquid coffee production line, the first of its kind in the United States. The investment will include construction of a 152,000-square-foot building and addition of 100 new jobs. Construction should be complete by December 2004. (Business Wire, 09/27/01)

Bristol Compressors will expand its presence at its current location in the Bristol-Washington County Industrial Park. The $45 million expansion will consolidate the company's international production into one location. The company, which considered Virginia along with global competitors, will hire 350 new workers. (Press release, 09/21/01)

Dyad Sodality Inc. will move its headquarters from Battlefield Business Park to Linden Business Center in Prince William County. The company has 27 employees and expects to grow to 50 within a year in an investment of $1.2 million. (Press release, 09/21/01)

ICHIBAN Inc., an international computer services group, will build a three-story, 84,000 square-foot building in Prince William County. The $6.5 million investment includes the company's occupation of 35,000 square feet for its headquarters and Virginia operations and the remaining 49,000 square feet available for lease. (Press release, 09/19/01)

HandySoft, a provider of business process management and collaborative workflow solutions, will move its U.S. headquarters from Falls Church to McLean to accommodate growth and expansion of its worldwide operations. The company is expected to double its staff by next year. (Business Wire, 09/18/01)

Insmed Inc. has opened its new office and laboratory at Innsbrook Corporate Center in Henrico County. The biopharmaceutical company will have 46,000 square feet in lab and office space available. (Press release, 09/12/01)

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Real Estate
Starmount Co. of North Carolina has purchased a three-building office and industrial complex in the Newport News Oyster Point Business Park for $7 million. The company bought the 101,361-square-foot complex from Chicago-based Westbrook Partners. (Daily Press, 10/03/01)

Cornerstone Realty Income Trust Inc. of Richmond acquired from State Street Companies Inc. and affiliates seven North Carolina apartment communities with 1,686 units for $125.8 million. (Business Wire, 10/03/01)

Advantis Real Estate Services Co. was awarded the management and leasing assignment for a 1.2 million square foot office portfolio with properties in Richmond, Norfolk and Raleigh, N.C. Properties include Koger Center West End in Richmond and Koger Center Norfolk. (Press release, 09/25/01)

MeriStar Hospitality Corp. of Washington, a hotel real estate investment trust, completed the sale of the 280-room Richmond Hotel & Conference Center to an affiliate of Columbia Sussex Corp. for an undisclosed amount. (Business Wire, 09/20/01)

Copty & Co. of Roanoke has leased 13,095 square feet of space in the BB&T Building in Roanoke to CBIZ Payroll Inc., which plans to consolidate four offices to its new space by November. (Press release, 09/19/01)

Tishman Speyer Properties, a Tyson's Corner real estate developer, signed a lease for 109,736 square feet of space with Scitor Corp. for the remaining space in Plaza ridge I. Scitor will occupy the third through sixth floors. (Press release, 09/17/01)

Cornerstone Realty Income Trust of Richmond has purchased two Atlanta-area apartment communities, Poplar Place Apartments and Enclave at Poplar Place Apartments for $34.7 million. (Business Wire, 09/17/01)

Insignia/ESG of Washington announced the sale of Gunston Plaza in Fairfax County, a 208,935-square-foot community shopping center, from Principal Life Insurance Co. to Phillips Edison & Co. for $12.51 million. (Press release, 09/17/01)

Insignia/ESG of Washington announced the $7.8 million sale of Tysons Sport & Health Club in McLean. Alexandria Two Associates L.P., bought the 85,000-square-foot health club from Tysons Land I L.L.C. (Press release, 09/17/01)

Venable, Baetjer & Howard, a Tyson's Corner law firm, has signed a lease for 49,539 square feet at Towers Crescent in Tyson's Corner. (Press release, 09/17/01)

APM Terminals Virginia Inc., a subsidiary of A.P. Moller, bought a 568-acre waterfront plot known as the Cox property in Portsmouth for $8.2 million from Trailsend Land Co., a land-owning subsidiary of Cox Enterprises of Atlanta. The $385 million, 200-acre shipping terminal will be privately financed. (The Virginian-Pilot, 09/11/01)

Charter One Mortgage Corp., a Richmond-based retail mortgage lender, has leased 102,000 square feet of office space in One Colonial Place in Henrico County. Construction on the 118,000-square-foot office complex located within Virginia Center Commons is scheduled for completion in November. (Press release, 09/10/01)

Tishman Speyer Properties, a Tyson's Corner real estate developer, announced Global One Communications LLC has leased 55,558 square feet at Woodland Park, a corporate office park in Fairfax County. Global One will occupy the fifth and sixth floors at South Pointe II. (Press release, 09/10/01)

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Financing
Motient Corp., a Reston-based provider of a wireless data network and a satellite telephone network, received $55 million in investments to form a subsidiary, Mobile Satellite Ventures LLC, with BCE Inc. in Canada. (Potomac Tech Journal, 10/15/01)

Performance Good Group Co., a Richmond restaurant distributor, raised $307 million by selling additional stock and convertible notes. Proceeds will help finance the company's acquisition of Fresh Express. (Richmond Times-Dispatch, 10/12/01)

MindShift Technologies, a Fairfax-based information technology management and services provider, raised $40 million in financing and venture capital. The $10 million Series B round of venture funding was co-led by Columbia Capital and J.P. Morgan Capital. The company also reached an agreement with financial services provider Leasing Group Inc. for a $30 million credit line. (Washington Post, 10/12/01)

Blue Ridge Networks, a Chantilly-based provider of virtual private network technology, raised $8 million in its first institutional round of venture capital funding led by SpaceVest of Reston. (Potomac Tech Journal, 10/11/01)

Conerva Corp., a Vienna-based software provider, has been authorized by its board of directors to repurchase up to $10 million of the company's common stock. (Business Wire, 10/04/01)

VCommand, a McLean-based subsidiary of Cambridge Technology Group, received an $8 million venture capital investment for the development of its AvStar product, a hands-free, voice interactive, automobile navigation system. (Potomac Tech Journal, 10/03/01)

TecSec Inc., a Vienna-based provider of information security software, has received a $10 million venture capital investment from Boeing, which will become a strategic partner of the firm. (Potomac Tech Journal, 10/02/01)

Riptech Inc. of Alexandria, a provider of scalable, real-time managed security services, received $21 million in funding, including an $18 million investment led by Broadview Capital Partners. (Business Wire, 10/01/01)

Natural Solutions Corp. of Chesapeake has raised an additional $1 million to fund implementation of its strategic plan. The company, which serves local, state and federal roadway and public works departments needs, sold $500,000 in common stock to investor Daniel C. Sellers Jr. and $500,000 in common stock to Dr. M.G. Robertson. (Business Wire, 09/26/01)

Albemarle First Bank, a Virginia state-chartered bank headquartered in Charlottesville, commenced a public offering of equity securities with a goal of raising $3 million to $4.6 million of additional capital. (Business Wire, 09/25/01)

Gladstone Capital Corp. of McLean announced that seven officers of the company have exercised options to purchase an aggregate of 586,670 shares of common stock at $15 per share. Total principal amount of all promissory notes was $8.8 million. (Business Wire, 09/19/01)

SteelCloud, a Dulles-based developer of turnkey network appliance solutions, will continue its listing on the Nasdaq National Market. The company evidenced compliance with all of the requirements for continued listing on the market. (PRNewswire, 09/18/01)

BioNetrix Systems Corp., a Vienna-based provider of authentication management solutions for enterprise and Internet security, closed $16 million in its third round of venture capital financing led by Columbia Capital. (Press release, 09/17/01)

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Legal
Ardent Communications Inc., an Arlington provider of high-speed Internet access and Web services, filed for Chapter 11 bankruptcy. (The Washington Post, 10/12/01)

The Glave Firm, a Richmond architectural firm, has been renamed Glave & Holmes Associates. H. Randolph Holmes is managing principal. (Press release, 10/08/01)

ScoreBoard Inc. of Herndon, a provider of technology to the mobile communications industry, settled a patent infringement lawsuit filed in the U.S. District Court for New Jersey against Schema Ltd. and Schema Inc. (Business Wire, 09/24/01)