June 2002

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
The Richmond Marriott Hotel, owned by Mutual Benefit/Marriott Hotel Associates, sold its first lien to the Procaccianti Group, a hotel management company in Cranston, R.I., for $10.4 million through First Union Bank. (04/23/02, Times Dispatch)

STG Inc. of Fairax, an IT services firm, acquired International Computers and Telecommunications Inc., an IT provider based in Maryland for an undisclosed amount. (04/22/02, Business Wire)

Design Master Associates Inc., a design company producing unique, customized giftware headquartered in Toano, acquired Facsimilies of Nashua, N.H. The manufacture and sales of its fine handmade sculptural replicas to museums, historical sites and retail outlets will move to Toano. (04/22/02, Press release)

United Dominion Realty Trust Inc., a multifamily real estate investment trust based in Richmond, acquired Wakefield Towers, a 218-apartment home community in Arlington for $19.7 million. (04/18/02, Press release)

Dominion Telecom Inc. of Richmond, a broadband service provider, purchased fiber-optic networks from Telergy Inc. of Syracuse, N.Y., a bankrupt telecommunications company, for $7.4 million. (04/12/02, The Washington Post)

Vastera Inc. of Dulles, the leading provider of solutions for Global Trade Management, acquired Bergen Informatica, a provider of GTM software solutions in South America. (04/11/02, Business Wire)

Performance Food Group, a Richmond-based marketer and distributor of many national and private label food and food-related products, plans to acquire the common stock of Quality Foods, Inc. of Little Rock, Ark., a privately-owned, broadline foodservice distributor, for approximately $95 million. (04/10/02, Business Wire)

United Dominion Realty Trust Inc., a multifamily real estate investment trust headquartered in Richmond, acquired Barton Creek Landing, a 250-apartment home community in Austin, Texas for $17.4 million. (04/05/02, Press release)

WHSV Channel 3, a television station in Harrisonburg, currently owned by Benedek Broadcasting Corp. of Illinois, is involved as part of a deal to be purchased by Atlanta-based Gray Communications Systems, Inc. for $500 million. (04/04/02, Daily News Leader)

PSINet of Ashburn, a commercial ISP, was acquired by Washington D.C.-based Cogent Communications Group, an Internet connection provider for small and medium-sized businesses, for $10 million. (04/03/02, Washtech.com)

Capital Automotive REIT, a specialty finance company for automotive retail real estate headquartered in McLean, acquired $87 million of property in several states in the first quarter of 2002. (04/02/02, PR Newswire)

SNL Financial, a Charlottesville-based provider of data and news on the banking, insurance, financial services, real estate and energy sectors, acquired New York-based Y-Merge.com, a provider of corporate financial analysis via the Internet to depository institutions, investment banks and fund managers for an undisclosed amount. (04/02/02, Business Wire)

Eplus Inc., an electronic procurement services company headquartered in Herndon, purchased the information technology unit, customer contracts and other assets of Massachusetts-based Elcom International Inc., an e-commerce and procurement services company, for $2.15 million. (04/02/02, The Washington Post)

American Medical Laboratories Inc., a Chantilly-based national provider of esoteric testing to hospitals and specialty physicians, was acquired by Quest Diagnostics Inc. of Teterboro, N.J., a provider of diagnostic testing, information and services, for $500 million. (04/01/02, PR Newswire)

Cederquist Rodriguez Ripley Maddux and Associates of Norfolk, an architectural firm merged with Motley & Associates Architects of Roanoke to form Rodriguez Ripley Maddux Motley Architechts. CRRM's Norfolk office is the designated corporate center of the new firm. (03/29/02, The Virginian-Pilot)

IceWEB Communications Inc., a Herndon-based rich-media company, merged with Disease Science Inc., a biotechnology firm in Boca Raton, Fla. The company's headquarters will be in Herndon. (03/27/02 Potomac Tech Journal)

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Deals
Huntsinger & Jeffer, a Richmond-based direct marketing firm, was chosen by San Diego-based Reuben H. Fleet Science Center, a nonprofit educational organization, to run its direct mail membership acquisition campaign for 2002-2003. (04/24/02, Press release)

River City Marketing, a full-service marketing and advertising company with offices in Fairfax and Richmond, was selected by Alpha Systems Inc., a Richmond-based provider of data collection applications, to develop and implement its strategic marketing program. (04/22/02, Press release)

Avionics Specialties Inc., a supplier of avionics instrumentation and aircraft engine monitoring equipment headquartered in Charlottesville, was chosen by Lockheed Martin Aeronautics Company of Forth Worth Texas, a provider of various military technology services, to participate in the Joint Strike Fighter program. (04/19/02, PR Newswire)

Virginia's Center for Innovative Technology, a nonprofit corporation based in Herndon, which increases and enhances the state's technological competitiveness, retained Qorvis Communications of McLean, an independent communications firm, as its agency of record for strategic public relations and marketing communications counsel and services. (04/18/02, PR Newswire)

Asian American Coal Inc. of Richmond, a mining company, through its joint venture company, Shanxi Asian American-Daning Energy Co., received its business license and mining license for development and operation of the 170 million-ton Daning coal mining project in mainland China. (04/15/02, Press release)

NetASPx, an application service provider headquartered in Herndon, signed a contract with IntegraSource PricewaterhouseCoopers, a business process outsourcing company, to provide remotely available accounting systems to Portland, Ore.-based IntegraSource. (04/12/02, Potomac Tech Journal)

InphoMatch, a Chantilly company providing technology to allow text messaging between cellular telephone customers, plans to manage inter-carrier messaging traffic for New Jersey-based Verizon Wireless, the nation's largest wireless carrier. (04/10/02, Potomac Tech Journal)

Barber Martin Advertising, a full-service ad agency in Richmond, was selected by Savannah, Ga.-based Friedman's Inc., the nation's third largest jewelry retailer, for its advertising planning and implementation. (04/09/02, Press release)

O'Keefe & Company Inc., of McLean, a full-service marketing consulting agency was named the corporate public relations agency of record for California-based Polycom, a leader in convergence of interactive voice, video, data and Web communications. (04/09/02, Business Wire)

Vastera Inc., a software maker headquartered in Dulles, signed a worldwide managed services agreement for global trade with Avaya Inc., a voice and data network firm based in New Jersey. (04/09/02, Potomac Tech Journal)

Defense Logistics Agency of Fort Belvoir contracted out the distribution operations of its Defense Distribution Depot Hill, Utah to EG&G Technical Services Inc., headquartered in Manassas, a leading provider of management and technical services. (04/05/02, PR Newswire)

PresenceWorks, an Alexandria-based instant messaging software company received a license to integrate the instant messaging software of America Online, headquartered in Dulles, into software applications to sell to large organizations. (04/04/02, Potomac Tech Journal)

Gwaltney of Smithfield, a supplier of pork products headquartered in Smithfield, entered into a labor contract agreeable to employees represented by the International Brotherhood of Teamsters. The five-year deal covers about 1,700 workers in the Portsmouth and Smithfield factories. (04/04/02, The Virginian-Pilot)

Artillery Marketing Communications of Norfolk, a full-service advertising and public relations firm, was chosen by the Downtown Norfolk Council to develop a strong downtown brand through research and planning. (04/03/02, Press release)

The Carilion Biomedical Institute, a private, nonprofit organization headquartered in Roanoke, awarded $2 million to fund 35 research projects to strengthen biomedical research at its partner institutions - the University of Virginia and Virginia Tech. (04/02/02, Press release)

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New Plants and Companies
Zaplet Inc., a Redwood Shores, Calif.-based collaborative software company, plans to open an office in Vienna to serve the government and commercial markets. (04/23/02, Potomac Tech Journal)

Target Corp., a Minneapolis-based importer of containerized freight, plans to build a $65 million,1.5 million square-foot import warehouse in Suffolk. Over 500 jobs will be created during the next three years. (04/19/02, The Virginian-Pilot)

TeleComputing, a Florida-based hosted applications firm, broke away from its parent company, TeleComputing ASA of Norway. Renaming itself Apptix ASA, headquarters were moved to an existing data center and offices in Chantilly. (04/08/02, Potomac Tech Journal)

Luna Innovations, a Blacksburg-based provider of R&D of fiber optic sensors, measurement instrumentation and advanced materials, launched a fourth company, Luna Energy, to focus on the development and commercialization of sensors for the oil and gas industry. (04/04/02, Press release)

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Executive Promotions
Ken Smither, president, Community Pride in Richmond. (04/18/02, Times Dispatch)

James de Castro, president, AOL Interactive Services in Dulles. (04/11/02, Business Wire)

Steven P. Dussek, chairman, CEO, ScoreBoard Inc. in Herndon. (04/04/02, Business Wire)

Charles A. Vehlow, CCO, Metal Storm Limited in Arlington. (04/04/02, Business Wire)

John R. Polchin, vice president and CFO, InteliData Technologies Corp. in Reston. (03/29/02, PR Newswire)

Stewart M. Kasen, president and CEO, S&K Famous Brands in Richmond. (03/28/02, Times Dispatch)

Steven Gulley, senior vice president and CFO, Consolidated Engineering Services in Arlington. (03/22/02, Press release)

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Contracts
Anteon International Corporation, Fairfax: $15.8 million from the Danish Material Command for assisting the Royal Danish Navy in achieving a mine clearing capability. (04/25/02, Business Wire)

Plateau Systems Inc., Arlington: $10 million over seven years from the Red Cross to start an e-learning venture. (04/25/02, The Washington Post)

NCI Information Systems Inc., McLean: $1.8 million from U.S. Army as a subcontractor to Telos Corp. of Ashburn, to support the Army Enterprise Infostructure Transformation Pilot Program. (04/24/02, Business Wire)

FGM Inc., Dulles: $1 billion over seven years from the Defense Information Systems Agency to provide global scientific, engineering, and technical services to DISA and other Department of Defense and Federal agencies. (04/24/02, Business Wire)

SIGNAL Corp., Fairfax: $6 million over five years from the Environmental Protection Agency to develop software tools to aid environmental response teams in field investigations support, including the capture, storage and analysis of data. (04/22/02, Business Wire)

Smith-Midland Corp., Midland: $3.15 million from Townhouse Management Company and Pine Equity in New York City to produce and install its Slenderwall® architechtural precast concrete panel system on a 32-story New York City high-rise. (04/17/02)

PEC Solutions Inc., Fairfax: $2.4 million from the Veterans Benefits Administration to assess VBA's information technology environment for migration to Microsoft Windows 2000. (04/17/02, Business Wire)

GTSI Corp., Chantilly: $26.2 million from DynCorp. to support the Millennia program to offer information technology services to the FBI. (04/15/02, Potomac Tech Journal)

Anteon Corp., Fairfax: $35 million over five years from the U.S. Navy to support the Navy's Systems Acquisition Program Office. (04/15/02, Business Wire)

Anteon Corp., Fairfax: $30 million over five years from the Defense Finance and Accounting Service Technology Services Organization for software development and integration, database design, technology support and testing. (04/11/02, Business Wire)

SIGNAL Corp., Fairfax: $1.1 million from the Defense Satellite Communications System to engineer design review, on-site installation and integration of satellite systems. (04/09/02, Business Wire)

GTSI Corp. and PlanetGov Inc., Chantilly: $1.3 million over five years shared with two other prime awardees, from the Department of Veterans Administration to provide hardware and software. (04/08/02, Potomac Tech Journal)

Computer Sciences Corp., Falls Church: $285 million over seven years from the General Services Administration Federal Systems Integration and Management Center to assist the EPA in implementing and operating a Central Data Exchange. (04/08/02, PR Newswire)

Northrop Grumman Newport News, Newport News: $42 million from the Navy to help plan for the upcoming overhaul and refueling work to be done on the aircraft carrier USS Carl Vinson. (04/02/02, The Daily Press)

Computer Sciences Corp., Falls Church: $250 million over five years from U.S. Army Space and Missile Defense Command for providing systems engineering and technical services. (03/28/02, PR Newswire)

C-CUBED Corp., Springfield: $1.4 million from the Defense Information Services Agency for providing video support services. (03/20/02, Press release)

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Cutbacks and Closings
InSystems Technologies Inc., an automation software company for insurance and financial services, plans to scale back its Roanoke office in order to consolidate operations and save money. About 23 employees will lose their jobs. (04/25/02, The Roanoke Times)

Infodata Systems Inc. of Fairfax, a software company, will not merge with San Diego-based Science Applications International Corp. due to Infodata's failure to meet certain closing conditions in the merger agreement. The proposed acquisition was valued at $4.8 million. (04/20/02, The Washington Post)

Dominion, a provider of power services headquartered in Richmond, decided to discontinue plans to build a coal-fired power station in Upshur County, W.Va. (04/19/02, Business Wire)

Howmet, a Hampton-based producer of precision-cast metal blades and aircraft components, laid off 28 employees due to decreasing demand for engines. (04/17/02, Daily Press)

E.spire Communications Inc., a telecom firm headquartered in Herndon, laid off 100 more employees in an attempt to restructure its debt. (04/16/02, The Washington Post)

LCC International Inc. of McLean, a technology solutions provider, plans to lay off 78 employees as a result of a slowdown of its wireless network design and consulting business. (04/16/02, The Washington Post)

Ntelos Inc., a digital wireless PCS provider based in Waynesboro, eliminated 200 overlapping positions. (04/16/02, The Washington Post)

Fairchild Dornier, an aircraft manufacturer based in Germany with operations in Herndon, laid off 60 sales and marketing employees as a result of its inability to find new funding. (04/12/02, The Washington Post)

ISeg Technologies, a McLean-based software management company for telecommunications companies, is going out of business due to lack of investments and the decline of the telecom market. (04/04/02, Potomac Tech Journal)

WorldCom Group, an Ashburn-based division of WorldCom Inc., laid off 275 employees in the Virginia and D.C. area as slowing sales growth moved its parent company to cut 3,700 employees. (04/04/02, The Washington Post)

Xybernaut Corp., a maker of wearable computer hardware headquartered in Fairfax, laid off 30 workers as a result of the restructuring of its global sales operations. (04/01/02, Potomac Tech Journal)

Climate Control Inc. of South Boston, a service provider to residential, industrial and commercial customers, plans to close its satellite office in Raleigh due to a shortage of experienced labor. (03/28/02, Danville Register Bee)

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Divestitures
Daily Press Inc. of Newport News, sold four of its weekly community newspapers and a tourist magazine for an undisclosed amount to a group from the Diederich family in order to focus its efforts in the Hampton Roads region. (04/24/02, Daily Press)

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Expansions
Winward Consulting Group Inc. of Herndon, a provider of management solutions, plans to open an office in New York City. (04/23/02, PR Newswire)

US Airways, a worldwide transportation company based in Arlington, plans to begin new international daily nonstop service between Ronald Reagan Washington National Airport and Bermuda. (04/19/02, PR Newswire)

Pak-Al of Virginia Inc., a packaging and logistic solutions company headquartered in Suffolk, completed a 60,000 square-foot office and warehouse expansion valued at $1.8 million. The company will hire 50 more employees by the end of 2002. (04/11/02, Press release)

Anteon Corp., an information technology company headquartered in Fairfax, plans to open an office in Pensacola, Fla. Ninety employees already in the Pensacola area support the Defense Finance and Accounting Service and the Chief of Naval Education and Training. (04/10/02, Press release)

Danaher Power Solutions, a provider of quality and reliability products and services based in Washington, D.C., will open a facility in the Eastport Business Park in Henrico County creating 180 jobs through a $1.7 million investment. Virginia competed with Connecticut, Ohio, California and Texas for the investment. (04/08/02, Press release)

AgWater Technologies Inc. of Harrisonburg, a provider of sales and service of water treatment components and systems to poultry producers, plans to open an office in Hamlet, N.C. under the name AgWater of North Carolina. (04/08/02, Press release)

INIT Innovations in Transportation Inc., a transportation technology subsidiary of German-based INIT Ag, with operations in Chesapeake, plans to move to a 9,000-square-foot office in Chesapeake, an investment of about $1.2 million, which will open 34 job positions over the next 2 ½ years. (03/29/02, The Virginian-Pilot)

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Real Estate
Crestline Capital, a hotel management company and parent company of Crestline Hotels & Resorts, headquartered in McLean, subleased 21,465 square-feet of office space at Greensboro Corporate Center in McLean. (04/16/02, Press release)

Wal-Mart Real Estate Business Trust purchased 23.427 acres of commercial land for a new Wal-Mart SuperCenter to be built in York County. (04/10/02, Press release)

Jefferson Investment Group purchased a 19,708-square-foot office building at 1964 Gallows Road in Vienna for $4 million. (04/10/02, Press release)

The University of Virginia Foundation, based in Charlottesville, sold a 1,392-acre farm near Scottsville known as Lone Oak for $3.35 million. The unnamed purchaser plans to continue farming it and will place conservation easements to limit development on the farm. (04/04/02, The Daily Progress)

Crow Holdings Real Estate Fund of Dallas bought sold the 345,968-square-foot Greenbriar Town Center in Chantilly for $61.8 million. (03/28/02, Press release)

McDonald Bradley Inc., an information technology services company, leased a 19,767-square-foot space in the Plaza Ridge II building in Woodland Park, a corporate office park in Fairfax County. (03/26/02, Press release)

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Financing
Eastern Virginia Medical School in Norfolk will obtain, with its partner GMP Companies, $5 million from Proctor & Gamble, a manufacturer of consumer products, to develop medicines for type 1 and type 2 diabetes. (04/19/02, Daily Press)

Fauquier Bankshares Inc., an independent community bank based in Warrenton, announced a two-for-one split of its common stock in the form of a 100 percent stock dividend. (04/19/02, PR Newswire)

Mantas Inc., a Fairfax-based software company specializing in money laundering detection, received $17.5 million from Safeguard Scientifics Inc. of Wayne, Pa, a technology operating company, to boost sales and marketing and to expand operations in the United States and Europe. (04/18/02, The Washington Post)

Bank of Richmond announced a six-for-five stock split, recognizing the bank's fast expansion and continued profitability. (04/12/02, Press release)

AnnuityNet, a Leesburg-based company that automates and digitizes business processes of the annuity industry, completed a $7.5 million third round of venture capital. Lincoln Financial Group, FBR Financial Services Partners and GE Equity were the investors. (04/10/02, Potomac Tech Journal)

Agari Mediaware Inc. of Herndon, a provider of middleware to facilitate streaming media presentations over the Internet, received a $5 million supplement to the $5 million fourth round of venture capital announced in August 2001. The money will be used to expand its sales and marketing staff. (04/09/02, Potomac Tech Journal)

Netsec Inc., a network-security firm headquartered in Herndon, received $7.5 million from ArrowPath Venture Capital of Menlo Park, Calif. and Mobius Venture Capital of Mountain View, Calif. (04/09/02, The Washington Post)

Realeum Inc., an Alexandria-based enterprise software company, raised $14.5 million in second round financing led by Massey Burch Capital Corp. to support and enhance current products, customer care and new business and product development. (04/05/02, Business Wire)

Epipeline, a contracting research company for the federal government based in Chantilly, raised $1.5 million from CrossBow Ventures Inc. of West Palm Beach, Fla. The majority of the money will be used to expand the company's sales and marketing efforts. (04/03/02, Washtech.com)

OnSpan Networking Inc. of Herndon, a provider of data communications and networking infrastructure solutions for business, government and education, was delisted from the Nasdaq SmallCap Market since it did not meet the minimum net tangible assets or stockholder's equity requirements for continued listing. (04/01/02, PR Newswire)

Optical Cable Corp., a Roanoke-based manufacturer and marketer of a broad range of fiber optic cables, obtained a restructured three-year credit facility up to a maximum of $25 million from Wachovia Bank, N.A. (04/01/02, Press release)

Ethyl Corp., a manufacturer of leading-edge additive technology for fuels and lubricants, headquartered in Richmond, approved and recommended to shareholders a one-for-five reverse stock split of Ethyl's common stock. (03/27/02, Business Wire)

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The State Corporation Commission approved a 900-megawatt gas-fired power plant in Fluvanna County to be built by Tenaska Inc. of Omaha, Neb., an international power development company and energy marketer. (04/20/02, The Roanoke Times)

Hamilton Beach/Proctor-Silex Inc. of Richmond, a manufacturer and marketer of small appliances, and Honeywell of New Jersey, a diversified technology manufacturer, arranged for a dismissal of suits against each other in a trademark infringement case. Hamilton Beach also filed a lawsuit in U.S. District Court in Richmond charging The Holmes Group Inc. of Massachusetts, a home comfort solutions provider, of false advertising and trademark and patent infringement. (04/18/02, PR Newswire)

Thomas Road Baptist Church in Lynchburg won a ruling in federal court that Virginia's prohibition against incorporation by a church was unconstitutional. (04/15/02, The News & Advance)

Cavalier Telephone, a local phone company based in Richmond, had its $635 million antitrust lawsuit against Verizon Virginia dismissed in federal court for failure to make a case for monopolization. (03/28/02, Times Dispatch)

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