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Virginia Businesses in the News


Mergers and Acquisitions
Have News to Report?
For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings:

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

• E-mail it to ForTheRecord@va-business.com

• Fax it to (804)
649-6311
Southern Financial Bankcorp, a Warrenton-based financial services company, plans to acquire Essex Bancorp, a Southern Virginia financial services company, which will operate as a wholly owned subsidiary of Southern Financial. The merged operations will have combined assets of $1.5 billion and a network of 33 branches. (02/27/04, Press release)

LandAmerica Financial Group, a Richmond-based provider of real estate transaction services, through its subsidiary LandAmerica Transnation, purchased Apache Title and Trust Agency of Apache County, Ariz. The move makes LandAmerica Transnation the leading title service provider in Apache County, as well as neighboring Navajo County. (02/26/04, PRNewswire)

Advanced Technology Systems, a provider of IT solutions headquartered in McLean, acquired Voyager Systems of San Diego, Calif., a developer of secure wireless solutions and services. The deal allows ATS to deliver advanced technical solutions to law enforcement for information sharing and communications. (02/25/04, Business Wire)

Trans Digital Technologies, an Arlington-based provider of high security technology and services to the Department of State for production of U.S. passports, was acquired in a $20 million cash and stock deal by Viisage, a Littleton, Mass., provider of technological identity solutions. The move positions Viisage as a leader in border management applications. (02/17/04, Business Wire)

TracerNet Corp., a Chantilly provider of fleet management solutions, was bought by Trimble of Orlando, Fla., a developer of Global Positioning System technology. TracerNet and Trimble’s Mobile Solutions Division will merge into a wholly owned subsidiary, Trimble Mobile Solutions. (02/17/04, PRNewswire)

Alion Science and Technology, a McLean-based research and development company, purchased Identix Public Sector, a Fairfax provider of information technology and management services. The deal allows Alion to expand its program management support within the Navy and create a new core competency in facilities engineering management. (02/13/04, PRNewswire)

CACI International, an Arlington IT and network solutions provider, acquired Vienna-based CMS Information Services, an IT consulting firm in the national defense sector. The acquisition allows CACI to enhance its enterprise solutions and software engineering and integration. (02/12/04, PRNewswire)

Smithfield Foods, a Smithfield-based meat producer, acquired two meat companies in the United Kingdom: Norwich Food Co., and Ridpath Pek. The combined companies, operating as Smithfield Foods Ltd., will service retail and food service customers in the U.K. (02/09/04, PRNewswire)

DigitalNet Holdings, a Herndon-based subsidiary of DigitalNet, has signed an agreement to acquire User Technology Associates, an IT services provider headquartered in Arlington. The deal allows DigintalNet, a provider of managed network solutions for government, to expand its presence in the market for government security services. (02/05/04, Business Wire)

Smithfield Foods, a Smithfield-based hog and processed meat producer, purchased a 15.2 percent interest in Campofrio Alimentacion, Spain’s largest meat processor, for $87.8 million. The shares, bought in a private transaction from a single shareholder, expands Smithfield’s European operations which include facilities in France and Poland. (02/04/04, PRNewswire)

QuadraMed, a Reston provider of healthcare IT services, acquired Détente Systems Pty, an Australian provider of laboratory and clinical systems in Australia, New Zealand and the United Kingdom. The deal fills a gap in QuardaMed’s current offerings and avoids the cost of building similar systems on its own. (02/03/04, Business Wire)

LandAmerica Financial, a Richmond-based provider of real estate transaction services, acting through its subsidiary Info1 Holding Co., purchased mortgage services providers Far West Credit of Salt Lake City, and CommCo Credit of Orange, Calif. The acquisitions expand LandAmerica’s presence in the western United States after several other recent deals. (02/03/04, PRNewswire)

The National Bank of Blacksburg bought Community National Bank of Pulaski from South Financial Group, a Greenville, S.C.-based financial services company. Community National holds $68 million in assets and $53 million in deposits. (02/03/04, PRNewswire)

Verestar, a network solutions firm in Fairfax, agreed to sell its assets to SkyTerra Communications, a New York-based telecommunications concern. SkyTerra will pay $7 million for an 80 percent stake in a new Verestar entity, and provide $33 million in funding upon closing of the transaction. (01/29/2004, Business Wire)

United Defense Industries, a defense firm headquartered in Arlington, acquired Kaiser Compositek of Brea, Calif., a manufacturer of polymeric composites. The purchase advances United Defense’s efforts to substitute lightweight composites and advanced materials for more traditional metal components in weapon systems. (01/292004, Business Wire)

Oxford Finance Corp., an Alexandria-based financial services company, reached agreement to be acquired by Sumitomo Corp. of New York, a financier of international projects by its parent company Sumitomo Corp. Japan. Through the deal Oxford will expand its portfolio and offer clients access to the Japanese life sciences community. (01/29/2004, PRNewswire)

Kosmos Pharma, a Great Falls-based firm specializing in the use of film products for quick dissolving oral delivery of drugs, agreed to sell its assets to MonoSol of Portage, Ind. A leader in the use of water-soluble films, MonoSol intends to form a new venture, MonoSolRx, to commercialize oral film strip products for the pharmaceutical market. (01/26/2004, PRNewswire)



 

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