March 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:

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Mergers and Acquisitions
Ryan, Lee & Co., a banking and brokerage firm based in McLean, agreed to be bought by BB&T, a banking firm headquartered in Charlotte, N.C.. Ryan will become part of Richmond-based Scott & Stringfellow, an investment banking and brokerage subsidiary of BB&T. (01/28/02, PRNewswire)

Edmondson, LedBetter & Ballard, a Norfolk-based accounting firm, merged with the larger Norfolk firm, McPhillips, Roberts & Deans. (01/25/02, The Virginian-Pilot)

Emergence, a strategic consultancy based in Richmond, acquired Cadmus Creative Marketing, an Atlanta agency known for its focus on internal communications and brand development. The company was a subsidiary of Cadmus Communications Corp. of Richmond. (01/24/02, Press release)

Cornet Technology Inc., a Springfield-based network hardware maker, acquired network monitoring software maker Optim Systems Inc. of Falls Church. (01/23/02, Potomac Tech Journal)

SevenSpace Inc. of Chantilly and Nuclio Corp. of Irvine, Calif., merged to create SevenSpace/Nuclio Corp., a management service provider which will be headquartered in Chantilly with offices in Illinois and California. (01/22/02, Business Wire)

Cavalier Telephone, a telecom firm, headquartered in Richmond, completed the acquisition of Herndon-based telecom provider Net2000 Communications. Cavalier purchased all assets and approximately 100,000 Net2000 customer lines throughout Virginia, Maryland and Washington, D.C. (01/21/02, Press release)

Micron Technology will pay Toshiba $250 million in cash plus 1.5 million shares of Micron stock in exchange for a memory chip plant in Manassas. (01/18/02, The Washington Post)

NuOncology Labs Inc., a Virginia Beach-based provider of customized data management services to the pharmaceutical and biotechnology industries, signed a letter of intent to acquire Client Associated Businesses Inc. of Milford, Conn., for common stock shares of NuLab. (01/18/02, Business Wire)

CrossTier.com, a Fairfax company specializing in e-business systems, was acquired by Gedas USA, the Detroit-based U.S. subsidiary of a German system integrator. (01/17/02, The Washington Post)

The Memorial Hospital of Martinsville and Henry County was acquired by Province Healthcare Co. of Brentwood, Tenn., for an estimated $125 million. (01/12/02, The Roanoke Times)

E*Trade Bank, a branchless bank headquartered in Arlington, acquired more than 30,000 customer accounts with deposits valued at more than $1.7 billion from Chase Manhattan Bank USA. (01/11/02, PRNewswire-FirstCall)

Allied Research Corp., a Vienna-based holding company for security businesses, acquired NS Microwave, a provider of microwave surveillance systems headquartered in Spring Valley, Calif., in a stock and cash transaction. (01/08/02, Press release)

Hilb, Rogal and Hamilton Co., a Richmond-based provider of insurance and risk management services, acquired operating assets of B&B Insurance Services Inc. in Phoenix, Ariz., and McKane Morgan and Associates, a specialty insurance agency, in San Antonio, Texas. (01/08/02, Press release)

United Dominion Realty Trust of Richmond, a real estate investment trust, purchased Credit Suisse First Boston's 75 percent interest in three newly completed apartment communities in Texas and Arizona for approximately $46 million. (01/04/02, Press release)

LLC International, a wireless and technical consulting company based in McLean, acquired Transmast Italia S.R.L., a wireless infrastructure and project management firm in Milan, Italy, from Transmast Ltd. (01/03/02, Business Wire)

Crossroads Travel Advisors, a Richmond travel agency, acquired another Richmond-based travel firm, Ambassador Travel & Tours. (01/02/02, Press release)

Hunton & Williams, a Richmond-based law firm, merged with an 80-lawyer Texas firm, Worsham, Forsythe & Wooldridge, with offices in Dallas and Austin. The new firm will be called Hunton & Williams. (12/14/01, Richmond Times-Dispatch)

Cornerstone Realty Income Trust of Richmond has acquired the 312-unit Waterford Apartments in Midlothian for $22.5 million. (12/13/01, Richmond Times-Dispatch)

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Deals
WebMethods Inc., a Fairfax-based software company, reached a deal to embed its software into the entire line of government procurement programs developed by American Management Systems Inc., a Fairfax technology consulting firm. (01/28/02, The Washington Post)

Nextel Communications Inc. of Reston, a provider of fully integrated wireless communications services, Research in Motion Limited and Motorola inc. reached an agreement to develop a new Nextel/BlackBerry handheld device with both voice and data capabilities. The personal data assistant will operate on Nextel's national network using Motorola's iDEN® integrated digital wireless network technology. (01/24/02, Business Wire)

Virginia Tech's Virginia Bioinformatics Institute announced a five-year, $10 million-plus research partnership with Johns Hopkins University's Bloomberg School of Public Health. The project should yield new information about pathogens that have been difficult to study and point toward new cures. (01/23/02, The Roanoke Times)

First Market Bank, a full-service bank headquartered in Richmond, has hired Carter Ryley Thomas of Richmond to provide strategic counsel on community relations initiatives. (01/21/02, Press release)

New Town Associates of Hampton, developer of a 300-acre mixed use commercial and residential project in James City County, selected Chesapeake-based Armada/Hoffler Development Co. as its retail partner. Divaris Real Estate will handle leasing for Armada/Hoffler. (01/16/02, The Virginian-Pilot)

Goldman & Associates Public Relations has been appointed national public relations firm for Peninsula Alliance for Economic Development. The company will handle media relations with national broadcast and print news organizations. (01/08/02, Press release)

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New Plants and Companies
Lockwood Greene, an engineering and construction firm with headquarters in Spartanburg, S.C., opened a new office in Norfolk to serve its ports and marine and other clients. Clark Smith will serve as office manager. (01/18/02, Business Wire)

NAI Harvey Lindsay Commercial Real Estate Services Worldwide of Virginia Beach created a construction company to tailor leased spaces for clients or construct larger build-to-suit projects. HL Construction employs 56 workers in Virginia Beach. (01/11/02, Daily Press)

BAE Systems North America, the Farnborough, England-based defense and aerospace contractor, will open a new systems-integration unit in Reston next fall and add 1,000 new jobs over three years. (01/10/02, The Washington Post)

Inchcape Shipping Service sold its North American division, headquartered in Virginia Beach, to executives of the company. WTS Agencies will employ 180 people and manage shipping container cargo destined for West Coast ports. The sale follows Inchcape's decision to shift its focus away from freight handling. (01/03/02, The Virginian-Pilot)

Atlanta Pulp & Paper Co. will locate a 40,000 square foot building to house 282 new employees in Brunswick County. The $5.3 million investment will start production in the first quarter of this year. Virginia competed against New York for the investment. (12/14/01, Press release)

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Executive Promotions
Mark J. Ferrer, CEO, Vastera of Dulles. (01/24/02, Business Wire)

James M. Craig, CFO, StarBand of McLean. (01/23/02, Business Wire)

Karl Maier, acting CEO, Via Net Works Inc. of Reston. (01/23/02, The Washington Post)

Stephen D. Peck, senior vice president, CFO, Current Analysis of Sterling. (01/15/02, Press release)

Cosby M. Davis III, CEO, Coventry Health Care's Virginia-based health plan, Southern Health Services Inc. (01/04/02, Press release)

Luis Parga, COO, Richmond-based Performance Food Group's Empire Seafood Co. subsidiary in Miami, Fla. (01/03/02, Business Wire)

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Contracts
MAXIMUS, a government services firm based in Reston, was re-selected by the State of Kansas Department of Social and Rehabilitation Services to provide an array of federal revenue enhancement services. The one-year contract, which allows for up to five, one-year extensions, entitles the company to a fee based on a percentage of each new federal dollar brought into the state under the contract, typically between $3 million and $5 million in revenue for MAXIMUS. (01/28/02, Press release)

SIGNAL Corp., an information technology company headquartered in Fairfax, was awarded a task order to provide knowledge management and technical support to the Department of the Army, Office of the Director of Information Systems for Command, Control, Communications and Computers. The seven-year contract is valued at $25 million. (01/28/02, Business Wire)

Steel Cloud Inc., a Dulles-based hardware provider for networking and electronic commerce services, won contracts valued at $10.5 million from an unnamed federal integrator. (01/24/02, Potomac Tech Journal)

RS Information Systems, a provider of technical business solutions headquartered in McLean, was awarded a contract to provide systems management and engineering services to the Space Warfare Center of the Air Force Space Command at Schriever Air Force Base near Colorado Springs, Colo. The contract, for a base year plus seven one-year options, has a total value of $88 million if all options are exercised. (01/24/02, Business Wire)

Indus Corp., a Vienna-based information technology firm, received a five-year contract worth a potential $55 million to provide business applications and sustaining engineering services to NASA's Goddard Space Flight Center in Greenbelt, Md. (01/23/02, Potomac Tech Journal)

Nextel Communications Inc., a Reston-based provider of wireless communications services, and EDS, a provider of technical business solutions headquartered in Plano, Texas, reached a $234 million, five-year IT outsourcing agreement under which EDS will manage Nextel's corporate data center, database administration and other technical functions. (01/23/02, Business Wire) Nextel also reached an accord with International Business Machines, an Armock, N.Y.-based information technology company, on an eight-year, $1.2 billion customer services outsourcing agreement to manage Nextel's six customer care centers. (01/18/02, Reuters)

Anteon Corp., a Fairfax-based information technology and engineering solutions company, won a five-year contract with a potential value of $9.9 million from the U.S. Navy Office of Naval Research. The company will provide advanced research and development support in the areas of acoustics and underwater shock. (01/16/02, Press release)

Laughlin, Marinaccio & Owens, an advertising agency headquartered in Arlington, landed a $150 million, five-year contract to continue advertising military reserve units to potential recruits for the U.S. Army and Air national guards. The campaign will cover all 50 states and four U.S. territories and includes television, radio, print and direct mail advertising. (01/16/02, The Washington Post)

SRA International, a Fairfax-based provider of information technology services, was awarded a competitive task order by the U.S. Department of Defense to provide program management and systems integration services in support of an electronic system to streamline and automate the U.S. export license application process. The order, including options, has an estimated value of $22.5 million over 39 months. (01/11/02, Press release)

CACI International, an Arlington technology firm, was awarded a five-year contract, potentially worth up to $20 million, to provide technology support to the Office of the Secretary of Defense. (01/11/02, The Washington Post)

Anteon Corp., an information technology firm based in Fairfax, won a five-year, $16.8 million contract (base plus four option years) to , to re-engineer business practices at the Defense Supply Center Philadelphia's TRICARE regional standardization. (01/10/02, Press release)

MAXIMUS, a Reston-based government services firm, won a $19.8 million contract to continue providing welfare-to-work case management services to Orange County, Calif. The three-year contract includes two one-year options. (01/10/02, Press release)

Raytheon Co., a Lexington, Mass.-based technology company with operations in Falls Church, was awarded a one-year, $20 million contract extension by the U.S. Department of Education for the federal Family Education Loan program data management system. (01/07/02, PRNewswire)

Halifax Corp., an information technology firm headquartered in Alexandria, won a three-year, $2 million enterprise maintenance contract to provide for a West Coast-based financial services company with maintenance services for check-clearing equipment and printers at more than 375 locations. (01/07/02, PRNewswire)

Dominion, a Richmond-based utility company, and The United Illuminating Co., a power company headquartered in New Haven, Conn., reached a $600 million power supply agreement under which Dominion will provide 100 percent of UI's power needs for the next two years. (01/03/02, Business Wire)

Orbital Sciences Corp., a developer of satellite and launch systems headquartered in Dulles, was awarded an $80 million contract by NASA's Jet Propulsion Laboratory in Pasadena, Calif. to develop, build and support flight operations for, Dawn, the first spacecraft designed to orbit main-belt asteroids. The mission is scheduled for launch in 2006. (01/03/02, PRNewswire)

Anteon Corp., a Fairfax-based information technology firm, was awarded a five-year task order worth $20.8 million, including options, by the U.S. Naval Sea Systems Command (NAVSEA) to provide program and financial management support to Team Submarine, an integrated NAVSEA organization. (12/17/01, Press release)

SIGNAL Corp., information technology company headquartered in Fairfax, has been awarded a $1.9 million contract by the U.S. Army's Defense Supply Service to provide system engineering and technical assistance to Army staff agencies. (12/13/01, Press release)

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Cutbacks and Closings
Gateway Inc., a San-Diego-based computer manufacturer, announced a second round of layoffs at its Hampton plant with a loss of 275 manufacturing jobs. (01/25/02, The Virginian-Pilot)

Divine Inc., a Chicago-based systems integrator and information technology networking firm, is closing its managed services operation in Herndon, laying off some of the office's 48 employees. (01/23/02, Potomac Tech Journal)

VeriSign Inc., a Mountain View, Calif., Internet addressing and security company, laid off about 100 employees as part of streamlining the company's operations. Most of those employees work in the company's Dulles offices. (01/17/02, The Washington Post)

Radford Army Ammunition Plant will lay off about 40 employees of Alliant Technologies, the plant contractor, and 50 from New River Energetics, an Alliant subsidiary, through April. (01/16/02, The Roanoke Times)

Burlington Industries, a Greensboro, N.C.-based textile company, is closing its plants in Halifax and Clarksville and laying off 1,400 workers. The company will close three other plants in the U.S. and Mexico as it cuts 4,000 jobs during restructuring. (01/11/02, The Richmond Times-Dispatch)

Entergy Wholesale Operations, a Louisiana-based energy company, withdrew its application to build a natural gas power plant in Louisa County. (12/14/01, The Daily Progress)

Dan River Inc., the Danville-based textile maker, will close its cut-and-sew facility in Newnan, Ga., and downsize its weaving operation in Greenville, S.C. The move will cost 274 jobs at the Newnan facility and 122 jobs in Greenville. (12/14/01, Danville Register & Bee)

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Divestitures
USA Education (Sallie Mae), a Reston-based provider of educational loans, said SCT, a technology business solution provider headquartered in Malvern, Pa., acquired Sallie Mae's Exeter Student Suite and Perkins/Campus Loan Manager product lines, for about $15.5 million. (01/11/02, PRNewswire)

Infodata Systems Inc., a technology solutions provider based in Fairfax, agreed to be acquired by Science Applications International Corp, a San Diego research and engineering firm. (01/11/02, PRNewswire)

e.spire Communications Inc., an integrated communications provider headquartered in Herndon, said the U.S. Bankruptcy Court for the District of Delaware approved the sale of its Florida-based Internet subsidiary, CyberGate Inc., to George F. Schmitt for $23 million. (01/09/02, PRNewswire)

EMotion Inc., a Vienna-based digital media storage firm, will sell its stock market archiving unit to British firm Newsplayer Group for up to $7.5 million in stock. (01/02/02, Potomac Tech Journal)

Henry S. Branscome Inc., a longtime family owned concrete business in Williamsburg, was sold to the Colas Group, an international firm based in France which is involved in all phases of road building. (12/27/01, Daily Press)

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Expansions
Biotage Inc., a Charlottesville-based leader in small-molecule drug discovery purification, opened its newest subsidiary, Biotage GmBH in Dusseldorf, Germany. The new subsidiary will service the purification needs of customers in Germany, Switzerland and Italy. (01/25/02, Press release)

Magnolia Manufacturing will expand its yarn production in Carroll County's Earnest E. Gardner Industrial Park. A division of Gastonia, N.C.-based Parkdale Mills, Magnolia will create 25 new jobs and retain 418 employees working at its four facilities through a long-term, multimillion dollar investment plan. Virginia competed with North Carolina for the project. (01/11/02, Press release)

Ross Products Division of Abbott Laboratories will invest $29 million and create 61 new jobs at its Altavista production facility for nutritional products. (01/11/02, Press release)

Richmond International Airport will receive $2 million from the federal government to expand the airport's baggage screening checkpoint. (01/11/02, Richmond Times-Dispatch)

Dan River Inc., a textile manufacturer based in Danville, will add 85 new jobs at its Brookneal facility through a $2 million investment, and 50 new jobs in a $4 million investment in its Danville plant. (01/10/02, Press release)

Lipton Tea is investing $15 million to expand its plant near downtown Suffolk. The move is expected to create 65 new jobs. (01/10/02, The Virginian-Pilot)

Daston Corp., an information technology consulting firm, will create 30 new jobs through a $1.5 million investment in McLean. (01/10/02, Press release)

Interstate Worldwide, a Springfield relocation management company, will create 30 new jobs in a $1.2 million expansion. (01/10/02, Press release)

Continental Lab Products Inc. of San Diego, Calif., will build an East Coast distribution center in Greene County in Spotswood Business Park. Construction is estimated at $1.5 million. (01/04/02, Press release)

WorldCom, a communications provider based in Loudoun County, will invest $180 million in its corporate campus in Loudoun County with an expansion that will house up to 8,000 employees. (12/19/01, Press release)

Kraft Foods will expand its operation in Frederick County, adding 75 new production jobs at its facility in Fort Collier Industrial Park through an investment of $29 million. (12/13/01, Press release)

Chandler Franklin & O'Bryan of Charlottesville opened a new office on Dec. 1, 2001, in Richmond, to focus on representing worker compensation clients. George L. Townsend will manage the office. (11/29/01, Press release)

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Real Estate
KNW Corp. bought the 76,012 square-foot Sentara Corporate Center in Virginia Beach, an office building fully leased to Sentara Healthcare. (01/17/02, Press release)

Divaris Real Estate Inc. of Hampton signed three leases in its Mercury Boulevard netcenter in Hampton. The Defense Contract Audit Agency signed a lease of 4,900 square feet; the U.S. Department of Veteran's Affairs, 3,989 square feet; Regional Job Support Network, 2,400 square feet. (12/26/01, Press release)

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Financing
Lumenos, an Alexandria-based provider of online health insurance services to self-insured employers, received a $28.6 million, third round of venture capital. (01/23/02, Potomac Tech Journal)

Convera Corp., a provider of information infrastructure software headquartered in Vienna, purchased 15 million shares of Convera Corp. Common Stock from Intel Corp. in return for $42 million. (12/27/01, Business Wire)

ManTech International of Fairfax, which delivers information technology and technical services solutions, filed for an initial public offering of up to $80 million with an over-allotment option for an additional $12 million. (11/26/01, Press release)

XO Communications, a Reston-based broadband communications provider, reached a definitive agreement with Forstmann Little & Co. and Telefonos de Mexico S.A. de C.V. on terms of their intention to invest $400 million each in XO in exchange for new equity in the company. (01/16/02, Business Wire)

NVR Inc., a McLean-based homebuilder, is repurchasing up to $300 million of its stock by authorization of its directors. The move is a continuation of a program that began in 1994. (01/10/02, Richmond Times-Dispatch)

VCampus Corp., a Reston-based provider of Web-based e-learning solutions, completed a $1.85 million private equity placement through the combination of stock and convertible debt. (01/07/02, Business Wire)

Anteon International Corp., an information technology government contractor headquartered in Fairfax, filed papers for its initial public offering which will include primary and secondary shares and will be used, in part, to retire debt. (12/26/01, Potomac Tech Journal)

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Motient Corp., a Reston-based wireless messaging firm, filed for voluntary Chapter 11 bankruptcy reorganization. No layoffs were expected; users should not be affected. (01/10/02, The Washington Post)

Reed Smith Hazel & Thomas changed the name of its Virginia offices to Reed Smith. The transition was planned after the law firms Reed Smith and Hazel & Thomas combined in November 1999. The global firm plans to move its principal Northern Virginia office to Tyson's Corner. (01/02/02, Press release)

The private investment partnership that owns the Richmond Marriott Hotel filed for Chapter 11 bankruptcy protection after the partnership, made up of 165 limited partners, defaulted on $10.4 million owed to First Union Bank. (12/13/01, Richmond Times-Dispatch)

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