Weekly Business News Digest

Strategic move: Strategic Capacity, a non-profit specializing in building strategic security sector capacity worldwide, has relocated their headquarters offices to 8200 Greensboro Drive, Suite 1400, Tysons, reported citybiz. Dr. Querine Hanlon, Founder of Strategic Capacity, said “With our current lease coming to an end, we wanted to take advantage of this opportunity to right size our real estate footprint. Ethos Tenant Co. was able to negotiate a transaction for us that not only reduced our rent spend but also helped us achieve our main objective of moving to the more walkable urban part of Tysons. This move allows our employees to enjoy a variety of amenities within easy walking distance of our new offices.” 

Vital hub of Hawaii: Herndon-based ManTech opened its new Innovation and Partnership Center in Hawaii (named Kūmaumau). This center expands the company’s support of U.S. Department of Defense missions in the Indo-Pacific region. Strategically located in Honolulu’s growing hi-tech corridor, ManTech’s new facility will play a pivotal role in advancing U.S. Indo-Pacific Command missions, according to Intelligence Community News. “ManTech has an enduring commitment to supporting defense and national security objectives from the vital hub of Hawaii,” said David Hathaway, president of ManTech’s Defense Sector. “Our new Innovation Center will build on this platform of mission success by developing, testing and deploying advanced technology solutions that provide our warfighters and partners with an all-important edge in combat scenarios.” 

Infrastructure offerings expansion: Centreville-based Parsons Corp. agreed to acquire Miami-based BCC Engineering, a transportation engineering services provider, through an all-cash transaction valued at $230 million as part of a push to expand both overall infrastructure offerings and its presence across the Southeastern U.S., reported Washington Technology. BCC and its 385 employees will become a part of Parsons’ North America Infrastructure business unit after the transaction closes within the next 30 days. 

Sharper edge: Reston-based Razor’s Edge Ventures, an investment group focused on companies in the defense technology landscape, completed a $340 million round for its third fund that nearly doubles the firm’s total assets under management, Washington Technology reported. Fund three’s initial target was $250 million in raised capital to support the strategy of backing startup firms that aim to maintain the U.S.’ technological advantage over its adversaries, Razor’s Edge announced. The firm’s website touts some of its current government market backings as including Altamira Technologies, Blacksea, BlackSignal, HawkEye 360, Ursa, Veros Technologies and X-Bow Systems. Razor’s Edge also backed the 2021 public listing of satellite imagery provider BlackSky, which the former remains an investor in. 

Touting NoVa startups: Tysons-based Appian, Reston-based Zoomdata, Tysons-based Cvent, Reston-based ThreatQuotient; and Mapbox, located in fellow Northern Virginia Economic Development Alliance jurisdiction Arlington, are profiled as notable startups in Virginia by TechBullion. According to the article: “Virginia’s startup ecosystem has been flourishing, thanks to a combination of factors. The state offers a favorable business climate, with competitive tax incentives and a strong focus on innovation. Moreover, the presence of top-tier universities like Virginia Tech and the University of Virginia provides a steady pipeline of talent and research partnerships. This growing ecosystem is also supported by various incubators, accelerators, and venture capital firms, which have significantly contributed to the development of startups.” 

Expanded strategic partnership: Reston-based Science Applications International Corp. and Alameda, California-based Wind River announced an expanded strategic partnership to deliver industry-leading technologies to government customers by easing mission-oriented integration, speeding development and enhancing functionality in systems, for the U.S. Army and other government entities, including Cabinet-level departments and independent agencies, according to Intelligence Community News. “We are excited to expand our partnership with Wind River, which enables us to deliver cutting-edge solutions that accelerate the design and mission-oriented integration of complex weapons systems,” said Josh Jackson, executive vice president and manager, Army Business Group, SAIC. “Together, we are poised to leverage a suite of cloud based digital engineering tools purposely designed to address the requirements in building the Army of 2030.” 

Commercial aviation aftermarket expansion: Alexandria area-based VSE Corporation, a provider of aftermarket distribution and repair services, has signed a definitive agreement to acquire Davie, Florida-based Kellstrom Aerospace Group, a portfolio company of AE Industrial Partners and a diversified global distributor and service provider supporting the commercial aerospace engine aftermarket, VSE announced. “The agreement to acquire Kellstrom represents a significant milestone for VSE Aviation,” stated John Cuomo, President and CEO of VSE Corporation. “This acquisition improves our position in the commercial aviation aftermarket, reinforces our OEM-focused strategy, expands our aftermarket product and capability offerings, and broadens our global footprint. The acquisition also significantly increases our participation in aircraft engine maintenance events, which represents the largest and fastest-growing segment of the commercial aftermarket today.  

Changing of the guard: HawkEye 360 will  decommission its Cluster 1 Pathfinder satellites in December, replacing them with Cluster 11, as it seeks to bolster its satellite constellation.The new satellites will operate in a mid-inclination orbit, enhancing coverage in high-demand equatorial regions and complementing Clusters 6, 8 and 9, according to ExecutiveBiz. Cluster 11 will also feature an upgraded antenna, allowing for the detection of a broader range of radio frequency signals. Initially launched in December 2018 for a two-year proof-of-concept mission, the Pathfinder satellites surpassed expectations, functioning for six years.  

Strategic initiative: Tysons-based Titania Solutions Group, a small business that delivers valued services to the federal government, acquired Folsys Engineering, a small Colorado-based company that provides technology services to the aerospace industry and federal government with a focus on satellite systems engineering. “This strategic initiative enables Titania to expand our core capabilities to include satellite systems engineering and broaden our reach into the U.S. intelligence community,” said Jones Tallent, president and chief executive officer for Titania. “We’re excited about the work Folsys has been doing to modernize space-based capabilities for communications and intelligence gathering as well as spacecraft and ground systems development.” Fox59 has more.  

Supporting our Veterans: The Code of Support Foundation (COSF) announced an agreement with the Tysons Corner Center shopping mall to operate a Veterans Support Center at the mall over Veterans Day weekend, November 9, 10 and 11, 2024. The center will showcase COSF services and honor America’s veterans and their families. During the three-day event, veterans, family members and caregivers will have the opportunity to speak directly with COSF experts and learn how COSF Case Coordination services can help resolve even the most complex issues. In addition, COSF resource experts will be available to help them get started using COSF’s PATRIOTlink® on-line national resource database to find free resources they are eligible for, providing direct service support in any of twenty major categories such as financial aid, housing, employment, mental health and more. All COSF services are available to veterans and their families free of charge. Yahoo Finance has more.